Utah Deal Intelligence - June 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
6/1/2020 Orbit Irrigation Products acquired the garden business of Bond Manufacturing. The terms of the transaction were not disclosed. Orbit designs, manufactures, and supplies irrigation, misting, and home improvement products to homeowners in the United States and internationally and is based in Bountiful. Willkie Farr & Gallagher LLP served as legal advisor to Orbit.
6/2/2020 EnginSoft USA LLC acquired MotionPort LLC. The terms of the transaction were not disclosed. MotionPort provides software and professional services that enable engineers to achieve better designs through virtual prototyping and is based in St. George.
6/4/2020 Storable, Inc. acquired Easy Storage Solutions, LLC. Easy Storage Solutions develops Web-based self-storage management software for small to mid-size self-storage operations and is based in St. George.
6/23/2020 Clarke Capital Partners and Ikonifi acquired Brandless, Inc. The terms of the transaction were not disclosed. Ikonifi operates as a performance-based digital marketing agency that provides advertising services to e-commerce companies and is based in Sandy. Clarke Capital Partners is a private investment firm based in Provo.
6/23/2020 Mastercard Incorporated (NYSE:MA) agreed to acquire Finicity Corporation for $985.0 million. Finicity provides personal financial management and consumer financial wellness platform solutions and is based in Salt Lake City. Majmudar & Partners served as legal advisor to Finicity.
6/23/2020 Manhattan Life Insurance Company acquired Standard Life & Casualty Insurance Company. The terms of the transaction were not disclosed. Standard Life & Casualty provides insurance services and is based in Salt Lake City.
6/23/2020 VAV Operations, LLC, doing business as Lighthouse Autism Center, acquired Autism Therapy Services, LLC. The terms of the transaction were not disclosed. Autism Therapy Services provides applied behavior analysis therapy services in home, clinic, community, and schools and is based in St. George.
6/25/2020 Malouf Inc. acquired Downeast Outfitters, Inc. The terms of the transaction were not disclosed. Downeast Outfitters retails apparel, home furnishings, and accessories and is based in Salt Lake City. Malouf manufactures pillows, sheets, mattress protectors, bed frames, mattress toppers, and adjustable bed bases and is based in Logan.
6/30/2020 InsideRE, LLC acquired Compfidently LLC. The terms of the transaction were not disclosed. InsideRE provides an online community platform that allows agents, home buyers, and sellers to market their businesses, inventory and themselves through a suite of marketing tools and is based in Salt Lake City.
Private Placements
6/2/2020 Central Logic Inc. announced that it has received a round of funding from new investor Rubicon Technology Partners. Central Logic develops transfer center and on-call scheduling technology solutions for healthcare systems and is based in Sandy.
6/4/2020 Medreppro LLC announced that it has received a Series A round of funding from OM2. Medreppro engages in the sales of new and preowned medical aesthetic devices and is based in Park City.
6/18/2020 Uncharted Supply Company, LLC announced that it has received a round of funding from Black Oak Capital Partners. Uncharted Supply sells apparel, caps, survival gear, and related products online and is based in Park City. Black Oak is a private equity firm based in Salt Lake City.
6/19/2020 Quavo, Inc. announced that it has received funding from Decathlon Capital Partners, LLC. Decathlon is a private equity firm based in Park City.
6/22/2020 Foldax, Inc. announced that it has received $20.0 million in its Series D round of funding from new investor MemorialCare Innovation Fund with participation from Angel Physicians Fund, LLC, Sayan Bioventures, and other investors. Foldax develops surgical and transcatheter heart valves and is based in Salt Lake City.
6/23/2020 Allos Environmental, Inc. announced it has received $10.4 million in funding from 9 investors. Allos operates as a materials management company that offers waste management services and is based in Salt Lake City.
6/26/2020 Spiff Inc. announced that is has raised $10.0 million in a round of funding from Norwest Venture Partners, Album VC, EPIC Ventures, Peterson Ventures, and other investors. Spiff develops and designs a sales commission software platform and is based in Sandy. Album VC is a venture capital firm based in Lehi. EPIC Ventures is a private equity and venture capital firm based in Salt Lake City. Peterson Ventures is a venture capital firm based in Salt Lake City.
6/29/2020 Vivint Solar, Inc. (NYSE:VSLR) announced that it received $300.0 million in commitments in an equity round of funding from two existing investors. Vivint Solar provides distributed solar energy primarily to residential customers and is based in Lehi.