Utah Deal Intelligence - January 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
1/4/2021 Forum Health, LLC acquired Meridian Health Center. The terms of the transaction were not disclosed. Forum provides precision health services and is based in Salt Lake City.
1/4/2021 Larry H. Miller Group of Companies (LHM Group) acquired Advanced Health Care Corporation. The terms of the transaction were not disclosed. LHM Group is a privately owned family business based in Sandy with operations located across the western United States and with focus in the primary categories of automotive, sports, entertainment, finance, insurance, real estate and health care.
1/5/2021 Bristol Hospice, LLC acquired Companion Hospice Care, LLC. The terms of the transaction were not disclosed. Bristol provides hospice healthcare services and is based in Salt Lake City. Goodwin Procter LLP served as legal advisor to Bristol Hospice.
1/5/2021 PCS Retirement, LLC acquired Alliance Benefit Group Rocky Mountain. The terms of the transaction were not disclosed. Alliance provides record keeping and third-party administration services for its clients' retirement plan needs and is based in Midvale.
1/6/2021 Forum Health, LLC acquired LifeTime Health Center. On 1/8/2021, Forum acquired Healing Arts Center. The terms of the transactions were not disclosed. Forum provides precision health services and is based in Salt Lake City.
1/12/2021 Central Logic Inc. acquired Acuity Link, LLC. The terms of the transaction were not disclosed. Central Logic develops transfer center and on-call scheduling technology solutions for healthcare systems and is based in Sandy.
1/12/2021 Pluralsight, Inc. (NasdaqGS:PS) acquired Apolloversity Incorporated, dba Next Tech. The terms of the transaction were not disclosed. Pluralsight operates a cloud-based technology skills platform and is based in Farmington.
1/12/2021 Integrity Marketing Group, LLC acquired Connexion Point, LLC. The terms of the transaction were not disclosed. Connexion operates as a tech-enabled healthcare services company and is based in Sandy.
1/12/2021 Alter Domus Luxembourg S.à r.l. acquired Strata Fund Solutions, LLC. The terms of the transaction were not disclosed. Strata is an administration and consulting services company and is based in Salt Lake City. Kirkland & Ellis LLP served as legal advisor to Strata.
1/15/2021 Ideanomics, Inc. (NasdaqCM:IDEX) acquired Wave Inc. for $80.0 million. Wave develops and manufactures a wireless power transfer technology for electric buses and is based in Salt Lake City.
1/19/2021 Medsphere Systems Corporation acquired Marketware, Inc. The terms of the transaction were not disclosed. Marketware provides CRM technologies and business intelligence applications for hospitals, specialty clinics, and post-acute care applications and is based in Midvale.
1/21/2021 Straker Translations Limited (ASX:STG) agreed to acquire all business assets from Lingotek, Inc. for $9.6 million. Lingotek provides Translation Network, a cloud-based solution to connect global content in one place for managing brands for Fortune 500 corporations, small professional firms, and companies worldwide and is based in Lehi.
1/22/2021 Castle Country RV agreed to acquire the Sandy and Tualatin Operation from Funtime RV, Inc. The terms of the transaction were not disclosed. Castle Country operates as a motor vehicle dealership company and is based in Helper.
1/25/2021 Independent Insurance Group Inc. agreed to acquire Sterling National Life Insurance Company. The terms of the transaction were not disclosed. Sterling is an insurance company and is based in Salt Lake City.
1/26/2021 Ivanti Software, Inc. agreed to acquire Cherwell Software, LLC. The terms of the transaction were not disclosed. Ivanti provides information technology management software solutions and is based in South Jordan.
1/26/2021 EverCommerce acquired Briostack. The terms of the transaction were not disclosed. Briostack develops pest control management software and is based in Lehi.
M&A - Financial
1/25/2021 Grant Avenue Capital, LLC acquired an unknown majority stake in Valeo Home Health and Hospice from Eduro Healthcare, LLC. The terms of the transaction were not disclosed. Valeo offers health and hospice services and is based in Salt Lake City. Eduro owns and operates healthcare facilities in Utah, California, Colorado, and Wisconsin and is based in Salt Lake City.
Private Placements
1/4/2021 SimpleNexus, LLC announced that it has received $108.0 million in its Series B round of funding led by existing investor Insight Partners. SimpleNexus develops and operates a digital mortgage software platform for loan originators, borrowers, real estate partners, mortgage lenders, community banks, credit unions, and independent mortgage banks in the United States and is based in Lehi.
1/5/2021 DivvyPay, Inc. announced that it has received $165.0 million in its Series D round of funding from Whale Rock Capital Management, LLC, Schonfeld Strategic Advisors LLC, Pelion Venture Partners, and other investors. DivvyPay operates a payment and business budgeting platform and is based in Draper. Pelion is a venture capital firm based in Salt Lake City.
1/7/2021 TaxBit, Inc. announced that it has received funding from PayPal Ventures, Coinbase Ventures, and Winklevoss Capital Management LLC. TaxBit develops cryptocurrency tax automation software and is based in Salt Lake City.
1/13/2021 MX Technologies Inc. announced that it has received $300.0 million in its Series C round of funding led by new investor TPG Growth with participation from Cota Capital Management LLC, Geodesic Capital, Greycroft Partners LLC, Pelion Venture Partners, and other investors. MX develops and delivers money management and financial software for financial institutions and digital banking providers and is based in Lehi. Pelion is a venture capital firm based in Salt Lake City. Dorsey & Whitney LLP served as legal advisor to MX.
1/13/2021 JobNimbus announced that it has received $53.0 million in a round of funding from new investor Mainsail Management Company, LLC. JobNimbus develops an online application based on project management and CRM software to track leads, estimate projects, create tasks, and build reports and is based in Lehi.
1/14/2021 Harness, Inc. announced that it has received $115.0 million in funding from Battery Ventures, Institutional Venture Partners, Sorenson Capital, and other investors. Sorenson is a private equity and venture capital firm based in Lehi.
1/22/2021 Beans & Brews Coffeehouse received a growth investment from Charger Investment Partners. The terms of the transaction were not disclosed. Beans & Brews is an operator and franchisor of coffeehouses in Utah, Idaho, and Nevada and a wholesaler of specialty roasted coffee beans and is based in Sandy. Dentons Durham Jones Pinegar P.C. served as legal advisor to Beans & Brews.