Utah Deal Intelligence - October 2021

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

10/4/2021 SunPower Corporation (NasdaqGS:SPWR) acquired Blue Raven Solar, LLC and Albatross Software LLC for $165.0 million. Blue Raven designs and develops solar panels for homes and is based in Orem.

10/5/2021 Southwest Gas Holdings, Inc. (NYSE:SWX) agreed to acquire Dominion Energy Questar Pipeline, LLC, its subsidiaries and certain associated affiliates from Dominion Energy, Inc. (NYSE:D) for $2.0 billion. Dominion is an integrated natural gas company based in Salt Lake City. McGuireWoods LLP served as legal advisor to Dominion.

10/6/2021 PDQ.com Corporation acquired White Room Projects LLC, dba SIMPLEMDM. The terms of the transaction were not disclosed. PDQ develops deployment software and system administrator tools and is based in South Salt Lake.

10/11/2021 Crestone Services Group, LLC acquired Americom Technology, Inc. The terms of the transaction were not disclosed. Americom is a telecommunication contractor and is based in Murray.

10/12/2021 Midway Mechanical Services LLC acquired Wood Air Conditioning, Inc. The terms of the transaction were not disclosed. Midway provides maintenance, repair, installation and construction services and is based in Draper.

10/12/2021 Barrette Outdoor Living Inc. acquired Duratec LLC, dba National Vinyl Products. The terms of the transaction were not disclosed. National Vinyl manufactures vinyl fences and rails and is based in Nephi.

10/13/2021 Medsphere Systems Corporation acquired Systeem Medical Information Systems LLC. The terms of the transaction were not disclosed. Medsphere offers healthcare information technology solutions and is based in Sandy.

10/13/2021 Forum Health LLC acquired The Center for Age Management. On 10/14/2021, Forum acquired Fox Valley Wellness Center Inc. and Midwest Hyperbarics. The terms of the transactions were not disclosed. Forum provides precision health services and is based in Salt Lake City.

10/15/2021 SimpleNexus, LLC acquired L. Brewer & Associates. The terms of the transaction were not disclosed. SimpleNexus develops and operates a digital mortgage software platform and is based in Lehi.

10/22/2021 Addepar, Inc. acquired AdvisorPeak, Inc. The terms of the transaction were not disclosed. AdvisorPeak designs and develops software for the financial services industry and is based in Layton.

10/25/2021 Marucci Sports LLC acquired Lizard Skins Inc. The terms of the transaction were not disclosed. Lizard develops and distributes cycling products and is based in Orem.

10/26/2021 Husqvarna Group agreed to acquire Orbit Irrigation Products LLC for $480.0 million. Orbit designs, manufactures, and supplies irrigation, misting and home improvement products and is based in Bountiful.

10/28/2021 RoadSafe Traffic Systems, Inc. acquired Barricade Services & Sales Inc. The terms of the transaction were not disclosed. Barricade is a supplier of traffic control products and services and is based in Salt Lake City.

Private Placements

10/4/2021 Get Covered, LLC announced that it has received a round of funding from RETV Management LLC, dba RET Ventures. RET is a venture capital firm based in Park City.

10/5/2021 Praesidium Inc. announced that it has raised $6.0 million in a round of funding led by new investor entities controlled by Wasatch Property Management, Inc. Wasatch operates as an integrated real estate development, construction, property management, and guaranty capital company and is based in Logan.

10/9/2021 Airgap Networks Inc. announced that it has received an investment from Sorenson Capital. Sorenson is a private equity and venture capital firm based in Lehi.

10/12/2021 Atomic FI, Inc. announced that it has raised $22.0 million in its Series A round of funding from Core Innovation Capital LLC, Greylock Capital Management, LLC, and Portage Ventures L.P. Atomic builds an infrastructure platform that enables financial institutions and fintechs to connect to payroll accounts and is based in Sandy.

10/13/2021 Mulberry Technology Inc. announced that it has raised $22.0 million in its Series B round of funding from Commerce Ventures Management, LLC, Hudson Structured Capital Management LP, Ally Bank, and other investors. Ally provides banking services and is based in Sandy.

10/13/2021 Impartner, Inc. announced that it has received $50.0 million in a round of funding from Brighton Park Capital and other investors. Impartner provides channel management technologies, including its Partner Relationship Management (PRM) and Through Channel Marketing Automation (TCMA) solutions, and is based in South Jordan.

10/13/2021 Qualiti, Inc. announced that it will receive $5.0 million in funding from 3 investors. Qualiti develops and offers a test automation solution managed by artificial intelligence and is based in Sandy.

10/14/2021 SponsorCX announced that it has received a round of funding from the family office of the founders of Peak Capital Partners, which includes Jeff Burningham, Jamie Dunn, and Jeff Danley. SponsorCX develops a suite of online automated sponsorship management tools, including customer relationship management, fulfillment, and inventory management and is based in American Fork. Peak is an apartment investment and management company based in Provo.

10/14/2021 MagicCube, Inc. announced that it raised $15.0 million in a round of funding from Mosaik Partners LLC, EPIC Ventures, and other investors. EPIC is a private equity and venture capital firm based in Salt Lake City.

10/15/2021 Gabb Wireless, Inc. announced that it will receive $10.0 million in funding. As of 11/1/2021, the company received $5.9 million in its first tranche from 17 investors. Gabb provides cellular telecommunication services and mobile phones for kids that prevent access to inappropriate content and is based in Lehi.

10/18/2021 Volley Software Inc. announced that it has received $5.5 million in a round of funding from Shasta Ventures Management, LLC, Peterson Ventures, LLC, and other investors. Volley is a video messaging app with interactive transcripts organized into workspaces designed for remote work and is based in Lehi. Peterson is a venture capital firm based in Salt Lake City.

10/20/2021 Saama Technologies, Inc. announced that it has received $430.0 million in an equity round of funding from The Carlyle Group, Intermountain Ventures, and other investors. Intermountain Ventures is the private equity and venture capital arm of Intermountain Healthcare and is based in Salt Lake City. Fenwick & West LLP served as legal advisor to the syndicate of investors in the transaction.

10/22/2021 PT&C Group, LLC announced that it has received $20.0 million in funding from 2 investors. PT&C offers forensic consulting services and is based in Salt Lake City.

10/26/2021 Udo, LLC announced that it has received $20.0 million in a round of funding from private investors. Udo designs and develops a web-based communication and collaboration tool for healthcare providers, patients, and patients’ loved ones to share important information surrounding a patient’s case and is based in Farmington.

10/27/2021 Needed PBC announced that it has received $5.8 million in a round of funding from Seae Ventures, Peterson Partners and other investors. Peterson is a private equity and venture capital firm based in Salt Lake City.

10/28/2021 Awardco, LLC announced that it has raised $65.2 million in Series A funding at a post-money valuation of more than $900.0 million in a round led by General Catalyst Group Management, LLC and Ryan Smith, Qualtrics co-founder and Utah Jazz majority owner. Awardco develops and offers an employee recognition and total rewards platform for organizations and is based in Orem. Parsons Behle & Latimer served as legal advisor to Awardco.

10/29/2021 Cache Valley Banking Company announced that it has received $50.0 million in a round of funding from 11 investors. Cache Valley offers banking products and services and is based in Logan.