Utah Deal Intelligence - April 2020
This report is prepared as a courtesy to the Utah business community by Columbia West based on our research and information collected by our firm. Despite our dedicated efforts, occasionally a deal might be missed or appropriate credit not given to legal or financial advisors. Please feel free to contact us if you have information on a transaction that you want to ensure is included and credit attributed to appropriate advisors. Also, feel free to forward to others who may have interest; they can be added to the regular distribution by contacting our office. Our contact information is below.
M&A - Strategic
4/7/2020 Social Finance, Inc. agreed to acquire Galileo Financial Technologies, Inc. for $1.2 billion. Galileo provides advanced payment processing solutions and is based in Salt Lake City. Dorsey & Whitney LLP is serving as legal advisor to Galileo.
4/8/2020 ReadyLIFT Suspension, Inc. acquired Zbroz Racing. The terms of the transaction were not disclosed. Zbroz Racing manufactures aftermarket parts and snowmobile suspension components and is based in Logan.
4/8/2020 Alpine Air Express Inc. acquired substantially all assets of Great Lakes Aviation, Ltd. Alpine engages in the air cargo business and is based in Provo. Akerman LLP served as legal advisor to Alpine.
4/13/2020 Aero Operating LLC acquired Lawn Butler LLC. The terms of the transaction were not disclosed. Lawn Butler provides landscape management services for residential and commercial customers and is based in Centerville. Aero Operating has rebranded as Outworx Group.
4/23/2020 RXA, LLC acquired Yapa Group LLC. The terms of the transaction were not disclosed. Yapa provides IT and data consulting services and is based in Lehi.
4/28/2020 eLearning Brothers, LLC acquired Trivantis Corporation Inc./Edulence Corporation. The terms of the transaction were not disclosed. eLearning Brothers designs and develops templates and stock assets that enable users to create courses and is based in American Fork.
4/28/2020 NovEx Supply Chain, LLC acquired BGS Fulfillment. The terms of the transaction were not disclosed. NovEx provides logistics services to customers worldwide and is based in Salt Lake City.
4/30/2020 Malouf Inc. acquired Salt Flat. The terms of the transaction were not disclosed. Malouf manufactures pillows, sheets, mattress protectors, bed frames, mattress toppers, and adjustable bed bases and is based in Logan.
4/30/2020 Ameritas Life Insurance Corp. acquired Dental Select, Inc. The terms of the transaction were not disclosed. Dental Select provides dental plans for groups, families, and individuals and is based in Salt Lake City.
Private Placements
4/7/2020 Podium, Inc. announced that it has received $125.0 million in a round of funding from Y Combinator Management, Alkeon Capital Management, LLC, Accel Partners, and other investors. Podium operates a mobile platform to collect and manage online reviews for businesses and is based in Provo.
4/16/2020 Lucid Software Inc. announced that it has received $52.0 million in its Series D round of funding led by ICONIQ Capital, LLC with participation from MeriTech Capital Partners, Cross Creek Advisors, and other investors. Lucid Software develops cloud-based tools to build visual content on the Web and is based in South Jordan. Cross Creek is a venture capital firm based in Salt Lake City.
4/16/2020 Everee, Inc. announced that it has received $10.0 million in a round of funding from Signal Peak Ventures, Origin Ventures, and other investors. Everee designs and develops a SaaS-based payroll application for small and medium-sized businesses and is based in Salt Lake City. Signal Peak is a private equity and venture capital firm based in Salt Lake City.
4/16/2020 Cirtec Medical Corp. announced that it has received a seven-figure investment from Decathlon Capital Partners, LLC. Decathlon is a private equity firm based in Park City.
4/20/2020 360VUZ announced that it has received $5.8 million in its Series A round of funding from Shorooq Partners, Vision Ventures, and other investors. Vision Ventures is a venture capital firm based in St. George.
4/20/2020 Causality Link announced that it has received $5.0 million in a round of funding from HORIZON s.a. Causality Link develops application software for document management and data extraction and is based in Sandy.
4/21/2020 t0.com, Inc., dba tZERO, announced that it has received $5.0 million in an equity round of funding from returning investor GoldenSand Capital Ltd. tZERO develops a distributed ledger platform for capital markets and is based in Salt Lake City.
4/21/2020 The Closing Exchange announced that it has received a multimillion-dollar investment in a round of funding from new investor Decathlon Capital Partners, LLC. Decathlon is a private equity firm based in Park City.
4/23/2020 Qnergy Inc. announced that it has received $10.0 million in an equity round of funding from Kibbutz EHI, OGCI Climate Investments LLP, and Tene Capital. Qnergy manufactures Stirling energy systems for residential, commercial, and industrial installations for various applications and is based in Ogden.
4/28/2020 Pathology Watch, Inc. announced that it will receive $5.0 million in funding from SpringTide Capital Management LLC, Rock Creek Capital, LLC, and other investors. The transaction closed May 11, 2020. Pathology Watch provides remote specimen interpretation services to hospitals, laboratories, and dermatology centers and is based in Salt Lake City. Rock Creek is a venture and equity investment firm based in Salt Lake City.