Utah Deal Intelligence - May 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

5/3/2021 Cairn Real Estate Holdings, LLC acquired JP Piccinini Real Estate Services LLC. The terms of the transaction were not disclosed. Cairn provides real estate brokerage services and is based in Salt Lake City.

5/3/2021 Crestone Services Group, LLC acquired Specialized Communication Services, LLC. The terms of the transaction were not disclosed. Specialized Communication provides engineering, construction, and maintenance services to wireless carriers, phone and internet service providers, and state departments of transportation and is based in Hurricane.

5/3/2021 PPC Flexible Packaging LLC acquired Target Labels & Packaging, LLC. The terms of the transaction were not disclosed. Target manufactures flexographic and digitally printed, laminated, and converted packaging labels, roll stock, and pouches for nutraceutical, snack, confectionary, and specialty consumer markets and is based in North Salt Lake.

5/3/2021 Laboratory Corporation of America Holdings (NYSE:LH) agreed to acquire the Autoimmune Vectra Testing Business from Myriad Genetics, Inc. (NasdaqGS:MYGN) for $150.0 million. Myriad, a molecular diagnostic company, develops and markets predictive, personalized, and prognostic medicine tests and is based in Salt Lake City. Katten Muchin Rosenman LLP is serving as legal advisor to Myriad.

5/5/2021 Aterian, Inc. (NasdaqCM:ATER) acquired Squatty Potty, LLC for $24.1 million. Squatty Potty designs and manufactures toilet stools and is based in St. George. Jones Waldo Holbrook & McDonough PC served as legal advisor to Squatty Potty.

5/5/2021 Atlas Real Estate Group, LLC acquired Black Aspen Property Management. The terms of the transaction were not disclosed. Black Aspen operates as a property management company that offers single-family rental homes and apartments and is based in Holladay.

5/5/2021 RSM US LLP agreed to acquire the ServiceNow Consulting Practice from Rego Consulting. The terms of the transaction were not disclosed. Rego is a work management consulting firm that offers end-to-end services for IT Service management, IT Operations Management, Configuration Management Database, Software Asset Management, and Customer Service Management and is based in Centerville.

5/6/2021 WorkWave LLC acquired Slingshot, Inc. The terms of the transaction were not disclosed. Slingshot provides customer engagement services for home services providers, such as lawn care and pest control companies, and is based in Orem.

5/6/2021 Avetta, LLC agreed to acquire Pegasus Management Pty Ltd. The terms of the transaction were not disclosed. Avetta develops a SaaS-based software for managing suppliers, contractors, and vendors and is based in Orem.

5/6/2021 Bill.com Holdings, Inc. (NYSE:BILL) agreed to acquire DivvyPay, Inc. for $2.5 billion. DivvyPay operates a payment and business budgeting platform and is based in Draper. Morrison & Foerster LLP is serving as legal advisor to DivvyPay.

5/11/2021 Forum Health LLC acquired Waller Wellness Center. The terms of the transaction were not disclosed. Forum provides precision health services and is based in Salt Lake City.

5/12/2021 LearnKey, Inc. acquired the remaining 50% stake in Brighton College. The terms of the transaction were not disclosed. LearnKey provides self-paced training solutions for corporate, education, government, and personal users and is based in St. George.

5/18/2021 Power Plus Productions acquired the Production & Rental Divisions of Performance Audio. The terms of the transaction were not disclosed. Performance Audio operates wholesale electronics supply stores that offer professional sound systems and equipment and is based in Salt Lake City.

5/18/2021 Glacier Bancorp, Inc. (NasdaqGS:GBCI) agreed to acquire Altabancorp (NasdaqCM:ALTA) for $933.5 million. Altabancorp operates as the bank holding company for Altabank, a state-chartered bank that provides retail and commercial banking products and services and is based in American Fork. Jones Day is serving as legal adviser to Altabancorp.

5/19/2021 ThayerMahan, Inc. acquired Wingman Defense, Inc. The terms of the transaction were not disclosed. Wingman develops systems for ground, maritime, and aerial applications and is based in Park City.

5/21/2021 ASSA ABLOY (OM:ASSA B) acquired Sure-Loc Hardware, Inc. The terms of the transaction were not disclosed. Sure-Loc designs, manufactures, and distributes residential locks and associated hardware and is based in Salt Lake City.

5/21/2021 Heritage Landscape Supply Group, Inc. acquired Beehive Brick & Stone. The terms of the transaction were not disclosed. Beehive manufactures stone and bricks for commercial and residential construction and is based in Sandy.

5/25/2021 XPEL, Inc. (NasdaqCM:XPEL) acquired PermaPlate Film LLC for $30.0 million. PermaPlate distributes, installs, and offers automotive protection products and is based in Salt Lake City.

5/25/2021 Wagstaff Crane Service, LLC acquired Bronson Crane, Inc. The terms of the transaction were not disclosed. Bronson provides crane sales, crane rental, maintenance, erection, and dismantling services and is based in Murray. Wagstaff provides crane services and offers cranes on rent and is based in Murray.

5/25/2021 Sift Science, Inc. agreed to acquire Xomi, Inc., dba Chargeback. The terms of the transaction were not disclosed. Chargeback operates a dispute management platform that provides real-time resolution and automated dispute management services and is based in Salt Lake City.

5/27/2021 Smith Entertainment Group acquired The Zone Sports Network from Larry H. Miller Group of Companies. The terms of the transaction were not disclosed. The Zone is a broadcasting company that operates a sports radio station and is based in Salt Lake City. Larry H. Miller Group, through its subsidiaries, engages in automotive dealerships, sports and entertainment, finance and insurance, real estate, and philanthropy businesses and is based in Sandy. The newly formed Smith Entertainment Group comprises the NBA Utah Jazz, Salt Lake City's downtown 18,000-seat Vivint Arena, the NBA G League Salt Lake City Stars, NBA 2K League Jazz Gaming, The Zone Sports Network (97.5 FM, 1280 AM) and management operations of the Triple-A baseball affiliate Salt Lake Bees under the majority ownership of Ryan and Ashley Smith.

M&A - Financial

5/19/2021 Warburg Pincus LLC along with existing investor Cove Hill Partners, L.P. agreed to acquire an unknown stake in NetDocuments Software, Inc. The terms of the transaction were not disclosed. NetDocuments develops cloud-computing content management and collaboration solutions and is based in Lehi.

5/25/2021 L Catterton Partners acquired an unknown majority stake in Kodiak Cakes, LLC. The terms of the transaction were not disclosed. Kodiak produces whole grain pancakes and mixes and is based in Park City.

Private Placements

5/5/2021 Syxsense Inc. announced that it has received $6.0 million in a round of funding co-led by new investors Oquirrh Ventures and Origami Capital Partners, LLC with participation from returning investor Signal Peak Ventures. Signal Peak is a private equity and venture capital firm based in Salt Lake City.

5/19/2021 Blackrock Neurotech announced that it has received $10.0 million in a round of funding from re.Mind Capital Limited, University Venture Fund, and other investors. Blackrock develops brain-computer interface technology and is based in Salt Lake City. University Venture Fund is the venture capital arm of The University of Utah.

5/24/2021 Walker Edison Furniture Company, LLC announced that it has received funding from new investor Blackstone Tactical Opportunities Advisors L.L.C. Walker Edison manufactures ready-to-assemble furniture and is based in Salt Lake City.

5/24/2021 Clene Inc. (NasdaqCM:CLNN) announced that it has entered into a loan and security agreement with new investor Avenue Capital Group and a private placement for total gross proceeds of $39.3 million. Clene is a clinical-stage pharmaceutical company that focuses on the discovery, development, and commercialization of novel clean surfaced nanotechnology therapeutics and is based in Salt Lake City.

5/26/2021 Tilled, Inc. announced that it has received $11.0 million in its Series A round of funding led by new investor Rebecca Lynn from Canvas Ventures with participation from Peterson Partners LP and other new and existing investors. Peterson Partners is a private equity and venture capital firm based in Salt Lake City.

5/27/2021 Scientia Vascular, LLC announced that it has received $50.0 million in an equity round of funding from new investor Vivo Capital, LLC. Scientia develops, manufactures, and markets endovascular medical devices and is based in Salt Lake City.