Utah Deal Intelligence - December 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

12/1/2021 Lithko Contracting, LLC, along with their equity partners The Pritzker Organization and DNS Capital, acquired assets of Frontline Concrete, Inc. The terms of the transaction were not disclosed. Frontline provides construction services for both commercial and residential projects and is based in North Salt Lake.

12/1/2021 Clarus Corporation (NasdaqGS:CLAR) acquired MAXTRAX Pty Ltd. The terms of the transaction were not disclosed. Clarus develops, manufactures, and distributes outdoor equipment and lifestyle products focusing on the climb, ski, mountain, sport, and skincare markets and is based in Salt Lake City.

12/7/2021 Greenix Holdings LLC, dba Greenix Pest Control LLC, acquired Rise Pest Control LLC. The terms of the transaction were not disclosed. Rise offers pest control services and is based in Provo. Greenix provides residential pest control services and is based in Centerville.

12/8/2021 Mérieux NutriSciences Corporation acquired Dyad Laboratories, Inc. The terms of the transaction were not disclosed. Dyad provides chemistry and microbiology testing services to nutraceutical and food beverage industries and is based in Salt Lake City.

12/8/2021 Standish Management, LLC acquired Cornerstone Fund Services LLC. The terms of the transaction were not disclosed. Cornerstone is a fund administration company that provides outsourced-CFO, accounting, and funds and back-office administration services to fund managers, venture capital managers, and private equity firms and is based in Sandy.

12/9/2021 Avast Plc (LSE:AVST) agreed to acquire Evernym, Inc. The terms of the transaction were not disclosed. Evernym builds and deploys self-sovereign identity solutions and is based in Draper.

12/9/2021 Dexter Axle Company, Inc. acquired Progress Manufacturing Inc. The terms of the transaction were not disclosed. Progress manufactures and supplies hitches and trailer products and is based in Provo.

12/9/2021 Pye-Barker Fire & Safety, LLC acquired Mountain Alarm Fire & Security. The terms of the transaction were not disclosed. Mountain Alarm provides alarm monitoring, installation, maintenance services, and inspection services for fire alarms, security alarms, CCTV systems, and access control systems and is based in Ogden.

12/13/2021 Harry's, Inc. agreed to acquire Lume Deodorant, LLC. The terms of the transaction were not disclosed. Lume manufactures and sells water-based deodorants and is based in Salt Lake City.

12/13/2021 NIKE, Inc. (NYSE:NKE) acquired RTFKT Inc. The terms of the transaction were not disclosed. RTFKT owns and operates a virtual fashion crypto platform that offers digital goods and is based in Salt Lake City.

12/13/2021 Sullair, LLC acquired Compressor-Pump & Service, Inc. (CPS). The terms of the transaction were not disclosed. CPS sells and services compressors, blowers, pumps, vacuum pumps, and related equipment and is based in Salt Lake City.

12/13/2021 Pfizer Inc. (NYSE:PFE) agreed to acquire Arena Pharmaceuticals, Inc. (NasdaqGS:ARNA) for $6.7 billion. Arena is a biopharmaceutical company based in Park City. Cooley LLP is serving as legal advisor to Arena.

12/15/2021 OneDigital Health and Benefits, Inc. acquired Ventris, LLC. The terms of the transaction were not disclosed. Ventris is a full-service insurance agency and consulting group based in South Jordan.

12/23/2021 Blackstone Products has agreed to go public via a merger with Ackrell SPAC Partners I Co. (Nasdaq:ACKIU), subject to the satisfaction or waiver of certain closing conditions. After the deal closes, Blackstone will list on the Nasdaq under the new ticker symbol BLKS. The business combination implies a pro forma enterprise valuation for Blackstone of $900.0 million and the transaction will provide $95.0 million in estimated gross proceeds to the Company, assuming no redemption by Ackrell shareholders, including a PIPE of $31.0 million common stock at $10.00 per share and $111.0 million of convertible notes due 2027. Blackstone manufactures griddles and other outdoor kitchen equipment and accessories and is based in Logan. O'Melveny & Myers LLP is serving as legal advisor to Blackstone.

12/28/2021 Convenient Brands, LLC acquired Rome Technologies, Inc. The terms of the transaction were not disclosed. Convenient develops a business technology platform that offers a range of payment processing and enterprise software solutions and is based in Draper.

12/29/2021 Wright National Flood Insurance Company agreed to acquire the flood insurance policy book from Westfield Insurance Company. The terms of the transaction were not disclosed. Wright provides actuarial consulting and flood insurance services and is based in Salt Lake City.

12/31/2021 Co-Diagnostics, Inc. (Nasdaq:CODX) acquired Idaho Molecular Inc. and Advanced Conceptions, Inc. The terms of the transactions were not disclosed. Idaho Molecular develops and manufactures at-home/point-of-care diagnostic devices and is based in South Salt Lake. Advanced Conceptions develops diagnostics devices and is based in South Salt Lake. Co-Diagnostics is a molecular diagnostics company that develops, manufactures and markets diagnostics technology and is based in Salt Lake City. Piciocchi Legal PLLC served as legal advisor to Idaho Molecular. Snell & Wilmer L.L.P. served as legal advisor to Co-Diagnostics.

M&A - Financial

12/1/2021 Diversis Capital, LLC acquired ExpressTech International, LLC, dba Fishbowl. The terms of the transaction were not disclosed. Fishbowl develops inventory management solutions and is based in Orem.

12/1/2021 3 Rivers Capital, LLC acquired an unknown majority stake in Blue Chip Group, Inc. The terms of the transaction were not disclosed. Blue Chip produces food and beverage products, including Augason Farms, a brand in the emergency food preparedness category, and is based in Salt Lake City.

12/22/2021 Bluejay Capital Partners, LLC acquired an unknown stake in Pacific West, LLC. The terms of the transaction were not disclosed. Pacific West provides services in the area of construction of railroad locomotive fueling facilities, rail yard air brake networks, and wastewater treatment facilities and is based in Salt Lake City.

Private Placements

12/1/2021 Fluidx Medical Technology, Inc. announced that it will receive a round of Series A funding. Fluidx manufactures and develops a biocompatible gel-particle embolic device and is based in Salt Lake City.

12/2/2021 WashU, LLC announced that it has received a round of funding from Peterson Partners LP. Peterson is a private equity and venture capital firm based in Salt Lake City.

12/7/2021 CometChat Inc. announced that it has raised $10.0 million in a round of funding from Signal Peak Ventures and other investors. Signal Peak is a private equity and venture capital firm based in Salt Lake City.

12/7/2021 Canopy Tax, Inc. announced that it has received $35.0 million in a round of funding from Ten Coves Capital, LP, Pelion Venture Partners, and other investors. Canopy develops practice management software solutions for accounting companies and is based in Draper. Pelion is a venture capital firm based in Salt Lake City.

12/9/2021 Tava Health, Inc. announced that it has raised $10.0 million in a round of funding from Rose Park Advisors, LLC, Peterson Partners LP, and other investors. Tava provides a mental telehealth platform and is based in Salt Lake City. Peterson is a private equity and venture capital firm based in Salt Lake City.

12/9/2021 Luz Data, Inc. announced that it has received $5.0 million in a round of funding from Album VC, Peterson Partners LP, and other investors. Luz develops a competitor intelligence platform and is based in Salt Lake City. Album is a venture capital firm based in Lehi. Peterson is a private equity and venture capital firm based in Salt Lake City.

12/14/2021 Lumio Inc. announced that it has received $110.0 million in a round of funding from White Oak Global Advisors LLC and Fiera Comox Partners Inc. Lumio is a solar installation company based in Lehi. Dentons Bingham Greenbaum LLP served as legal advisor to Lumio.

12/14/2021 DigiCert, Inc. announced that it has received funding from Crosspoint Capital Partners, LP. DigiCert provides secure socket layer certificates and management tools and is based in Lehi.

12/15/2021 BUKU Ship announced that it has received $5.0 million in a round of funding led by new investor Pando Ventures. BUKU develops and operates a SaaS platform for e-commerce shipping and is based in Lehi. Pando is a venture capital firm based in Salt Lake City.

12/21/2021 Sales Rabbit, Inc. announced that it has received funding from new investor Diversis Capital, LLC. Sales Rabbit provides a cloud-based software solution for satellite retailers and is based in Provo.

12/23/2021 InsideRE, LLC announced that it has received a round of funding from Genstar Capital, LLC. 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. Morgan Lewis & Bockius served as legal advisor to InsideRE.

12/24/2021 Firstdigital Telecom, LLC announced that it has received senior debt financing from new lenders AllianceBernstein Holding L.P., Deutsche Bank Aktiengesellschaft, Guggenheim Partners, LLC, and Webster Financial Corporation. Firstdigital is a telecommunications company based in Salt Lake City. Simpson Thacher & Bartlett LLP and Parr Brown Gee & Loveless served as legal advisors to Firstdigital.

12/30/2021 Consensus Sales, Inc. announced that it will raise $15.0 million in funding from 3 investors. Consensus provides a Saas application that accelerates B2B sales by driving agreement across stakeholders in the buying group and is based in American Fork.