Utah Deal Intelligence - July 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
7/1/2021 Traeger Pellet Grills, LLC acquired Apption Labs Ltd for $100.0 million. Traeger manufactures and markets pellet grills and BBQ electric smokers and is based in Salt Lake City. Fried, Frank, Harris, Shriver & Jacobson LLP served as legal advisor to Traeger.
7/5/2021 Cytiva acquired Intermountain Life Sciences, LLC. The terms of the transaction were not disclosed. Intermountain manufactures water for pharmaceutical purposes and is based in West Jordan.
7/6/2021 Forum Health LLC acquired Great Smokies Medical Center. The terms of the transaction were not disclosed. Forum provides precision health services and is based in Salt Lake City.
7/13/2021 PROG Holdings, Inc. (NYSE:PRG) acquired Four Technologies, Inc. The terms of the transaction were not disclosed. PROG operates as an omnichannel provider of lease-purchase solutions to underserved and credit-challenged customers and is based in Draper.
7/13/2021 Red Cat Holdings, Inc. (NasdaqCM:RCAT) agreed to acquire Teal Drones, Inc. The terms of the transaction were not disclosed. Teal Drones manufactures production drones and is based in Salt Lake City.
7/16/2021 MacNeill Pride Group acquired Argon Technologies, Inc., dba Klymit. The terms of the transaction were not disclosed. Klymit designs, manufactures, and sells camping gear and outdoor rugged products and is based in Kaysville.
7/20/2021 Qualtrics International Inc. (NasdaqGS:XM) acquired Usermind, Inc. The terms of the transaction were not disclosed. Qualtrics provides an experience management platform for organizations to design, manage, and improve customer, employee, product, and brand experiences of businesses and is based in Provo.
7/22/2021 Sophos Group Limited acquired Braintrace Inc. The terms of the transaction were not disclosed. Braintrace is a managed cybersecurity service provider based in Salt Lake City.
7/23/2021 iFIT Health & Fitness Inc. acquired Be Boundless LLC. The terms of the transaction were not disclosed. iFIT manufactures and markets fitness equipment and is based in Logan.
7/26/2021 Boston IVF, LLP acquired Reproductive Care Center. The terms of the transaction were not disclosed. Reproductive Care Center operates infertility clinics and is based in Sandy.
M&A - Financial
7/16/2021 Monomoy Capital Partners agreed to acquire Liberty Safe Holding Corporation. The terms of the transaction were not disclosed. Liberty Safe, through its subsidiary, designs, manufactures, and markets home, office, and gun safes in North America and is based in Payson.
7/27/2021 PCM Growth, LLC acquired an unknown majority stake in Hawx Services. The terms of the transaction were not disclosed. Hawx offers residential and commercial pest control solutions and is based in Ogden.
Private Placements
7/7/2021 LoanPro Software, LLC announced that it has received $100.0 million in its Series A round of funding from new investor FTV Management Company, LLC. LoanPro designs and develops software as a service loan management, servicing and collections software and is based in Farmington. Dentons US LLP served as legal advisor to LoanPro.
7/7/2021 Entrata, Inc. announced that it has received $507.0 million in its first institutional round of funding co-led by new investor Silver Lake Management, L.L.C. and individual investors Ryan Smith and Todd Pedersen. Entrata develops property management software and is based in Lehi. Simpson Thacher & Bartlett LLP served as legal advisor to Entrata.
7/7/2021 Any Hour Electric, Inc. announced that it has received a round of funding from new investor Knox Lane LP. Any Hour provides heating, ventilation, air conditioning (HVAC), plumbing, and electrical services, including repairs, replacements, and maintenance to residential customers in the Salt Lake City region and is based in Orem. Greenberg Traurig, LLP served as legal advisor to Any Hour.
7/8/2021 FreightPOP, Inc. announced that it has received $6.0 million in a round of funding led by new investor Prelude, a fund managed by Mercato Partners. Mercato is a private equity and venture capital firm based in Cottonwood Heights.
7/21/2021 Fetch Package, Inc. announced that it has received $60.0 million in an equity round of funding led by new investor Ocelot Capital Management, LLC with participation from Signal Peak Ventures, Pando Ventures, and other investors. Signal Peak is a private equity and venture capital firm based in Salt Lake City. Pando is a venture capital firm based in Salt Lake City.
7/21/2021 Xariable, Inc. announced that it will receive $65.0 million in a round of funding from Charles River Ventures, Inc., Peterson Ventures, LLC, Shopify Inc. (NYSE:SHOP), and other investors. Peterson is a venture capital firm and is based in Salt Lake City.
7/21/2021 Native Voice, Inc. announced that it will receive $14.1 million in funding from Gutbrain Ventures, LLC, PBJ Capital, Signal Peak Ventures, and other investors. Signal Peak is a private equity and venture capital firm based in Salt Lake City.
7/27/2021 Bio Agri Mix LP announced that it has received a round of funding from new investor DW Healthcare. DW is a private equity and venture capital firm based in Park City.
7/28/2021 PrimeTrust LLC announced that it has received $64.0 million in its first institutional round of funding led by new investor Mercato Partners. Mercato is a private equity and venture capital firm based in Cottonwood Heights.
7/28/2021 SonderMind Inc. announced that it has received $150.0 million in its Series C round of funding from Drive Capital, LLC, Premji Invest Limited, Clayton Associates, LLC, Kickstart Seed Fund, and other investors. Kickstart is a venture capital firm based in Cottonwood Heights.
7/28/2021 Algramo announced that it has received $8.5 million in its Series A round of funding led by existing investor Dalus Capital with participation from University Venture Fund, ImpactAssets, Inc., Volta Ventures, and other investors. University Venture is the venture capital arm of The University of Utah and is based in Salt Lake City.
7/29/2021 FirstDigital Telecom, LLC announced that it has received $200.0 million in a preferred equity round of funding from Apollo Global Management, Inc. through funds managed by its affiliates. Firstdigital is a telecommunications company which provides local voice, long distance, internet, VOIP, cloudpbx, hosting, co-location, managed services, and fiber-to-the-premise services and is based in Salt Lake City. Parr Brown Gee & Loveless served as legal advisor to Firstdigital.
7/30/2021 Hypercraft announced that it has received a round of funding from RevRoad, a venture capital firm based in Provo.