Utah Deal Intelligence - November 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

11/2/2021 Forum Health LLC acquired Revitalize Medical Group. The terms of the transaction were not disclosed. Forum provides precision health services and is based in Salt Lake City.

11/3/2021 Ship Hero, LLC acquired Golden Egg Solutions, LLC. The terms of the transaction were not disclosed. Golden Egg specializes in eCommerce pick and pack fulfillment, printing and packaging, and white label supplement procurement and drop shipping and is based in Salt Lake City.

11/3/2021 NetDocuments Software, Inc. acquired Community.lawyer, P.B.C., dba Afterpattern. NetDocuments develops cloud-computing content management and collaboration solutions and is based in Lehi.

11/3/2021 Dentist Entrepreneur Organization acquired Traction for Dental. The terms of the transaction were not disclosed. Traction for Dental offers entrepreneurial operating system implementation services for dental companies and is based in South Jordan.

11/4/2021 Rent Dynamics acquired The Advantage Program, LLC. The terms of the transaction were not disclosed. The Advantage Program operates an online real estate matchmaker platform and is based in Salt Lake City. Rent Dynamics is a multifamily software and services company based in Logan.

11/8/2021 Instructure Holdings, Inc. (NYSE:INST) agreed to acquire Kimono LLC for $10.0 million. Kimono will be rebranded as Elevate Data Sync as it joins the Instructure Learning Platform. Kimono develops a cloud-based education data integration and interoperability platform and is based in Salt Lake City. Instructure provides cloud-based learning, assessment, development, and engagement systems worldwide and is based in Salt Lake City.

11/9/2021 Parpia Global Management acquired The Summit Group Communications. The terms of the transaction were not disclosed. Summit operates as an advertising and public relations firm and is based in Salt Lake City. Parpia Global is owned by investor Naushad Parpia who also serves as Chairman of Plative, a digital-first management consulting firm that offers advisory, professional services, and project implementation.

11/9/2021 American Equipment, Inc. acquired Washington Crane & Hoist Co., Inc. The terms of the transaction were not disclosed. American Equipment engages in the distribution of conveying, packaging, and lifting equipment and is based in South Salt Lake.

11/10/2021 Imagine Learning, Inc. acquired Robotify Labs Limited. The terms of the transaction were not disclosed. Imagine develops language and literacy solutions for elementary students and is based in Provo.

11/10/2021 Connexus Resource Group acquired J-Curve Technologies, LLC. The terms of the transaction were not disclosed. Connexus provides contact center outsourcing services and is based in American Fork.

11/10/2021 Level Home Inc. acquired Dwelo, Inc. The terms of the transaction were not disclosed. Dwelo develops a Smart Device Management platform and is based in Draper.

11/15/2021 Executech Utah, Inc. acquired Elevate. The terms of the transaction were not disclosed. Executech provides information technology consulting services and is based in South Jordan.

11/16/2021 nCino, Inc. (NasdaqGS:NCNO) agreed to acquire SimpleNexus, LLC. The terms of the transaction were not disclosed. SimpleNexus develops and operates a digital mortgage software platform and is based in Lehi. Willkie Farr & Gallagher LLP is serving as legal advisor to SimpleNexus.

11/16/2021 Friendly Group acquired Western Heating and Air. The terms of the transaction were not disclosed. Western provides heating and air conditioning system repair, installation, maintenance, and comfort services to homes and businesses and is based in Orem.

11/17/2021 ARCH Precision Components Corp. acquired Metalcraft Technologies, Inc. The terms of the transaction were not disclosed. Metalcraft manufactures aerospace components and is based in Cedar City.

11/18/2021 Forum Health LLC acquired Santa Rosa Hormone Functional Medicine Clinic. The terms of the transaction were not disclosed. Forum provides precision health services and is based in Salt Lake City.

11/23/2021 Arthur J. Gallagher & Co. (NYSE:AJG) acquired Real Estate Insurance Solutions. The terms of the transaction were not disclosed. Real Estate Insurance offers insurance brokerage services and is based in Park City.

11/29/2021 OPTConnect, LLC acquired Premier Wireless Solutions, Inc. The terms of the transaction were not disclosed. OPTConnect provides wireless connectivity solutions for ATMs and is based in Kaysville.

11/29/2021 Elsevier Limited acquired Knowledge Diffusion Inc., dba Osmosis. The terms of the transaction were not disclosed. Osmosis designs and develops a platform to provide health education services and is based in Kaysville. Lowenstein served as legal advisor to Osmosis.

M&A - Financial

11/16/2021 Management of KNS International, LLC and Centre Partners Management LLC acquired KNS International, LLC from Tower Arch Capital, L.P. in a management buyout. The terms of the transaction were not disclosed. KNS designs and distributes fashion apparel, jewelry, footwear and home items and is based in Draper. Tower Arch is a private equity firm based in Draper.

11/18/2021 TriArtisan Capital Advisors LLC agreed to acquire remaining stake in EnergySolutions, Inc. The terms of the transaction were not disclosed. EnergySolutions provides nuclear services to government and commercial customers and is based in Salt Lake City. Latham & Watkins LLP is serving as legal advisor to EnergySolutions.

Private Placements

11/1/2021 CaseWorthy, Inc. announced that it has received a round of funding from new investor Symphony Technology Group, LLC. CaseWorthy develops a case management software platform and is based in Salt Lake City.

11/1/2021 Extra Space Storage LP announced that it will receive $13.0 million in funding from two investors. The transaction closed 12/7/2021. Extra Space manages, develops, sells, and rents self-storage facilities and is based in Salt Lake City.

11/2/2021 Black Rifle Coffee Company, LLC (BRCC) announced its plan to go public via a business combination with SilverBox Engaged Merger Corp I (NASDAQ:SBEA), which is sponsored by SilverBox Capital LLC and Engaged Capital LLC, who have collaborated to create an alternative asset management platform. Once the proposed transaction is closed, the combined company will be named BRC Inc. Salt Lake City-based BRCC is a premium coffee company with a mission to serve the highest quality coffee while supporting Veterans and their families. Kirkland & Ellis LLP is serving as legal advisor to BRCC.

11/2/2021 Infusion for Health, Inc. announced that it has received $50.0 million in a round of funding from Oak HC/FT Partners LLC and Cimarron Healthcare Capital LP. Cimarron is a private equity firm based in Salt Lake City.

11/2/2021 Wellington-Altus Financial Inc. announced that it has received $68.5 million in an equity round of funding from The Cynosure Group and Jessiman Family Investments Inc. Cynosure is a private equity firm based in Salt Lake City.

11/3/2021 MarketDial, Inc. announced that it has received a round of funding co-led by new investor Finistere Ventures, LLC and existing investor CrossLink Capital, Inc. with participation from existing investors Peterson Ventures, LLC and Kickstart Seed Fund. MarketDial is a technology company that provides a user-friendly A/B testing solutions software platform to create, implement, and analyze an accurate in-store test and is based in Salt Lake City. Peterson is a venture capital firm based in Salt Lake City. Kickstart is a private equity and venture capital firm based in Cottonwood Heights.

11/9/2021 Bound Ltd. announced that it has received $7.0 million in a round of funding from Valar Ventures LP, Moonfire Ventures, Album VC, and other investors. Album is a venture capital firm based in Lehi.

11/10/2021 Cacheflow Inc. announced that it has received $6.0 million in a round of funding from GGV Capital, LLC, UV Partners, Inc., dba Pelion Venture Partners, and other investors. Pelion is a venture capital firm based in Salt Lake City.

11/10/2021 Hash Kitchen announced that it has received $20.0 million in an equity round of funding from new investor, Savory, a fund managed by Mercato Partners, LLC. Mercato is a private equity and venture capital firm based in Cottonwood Heights.

11/11/2021 Ometria Ltd announced that it has received $40.0 million in a round of funding from Octopus Ventures Ltd., InfraVia Capital Partners, Summit Action LLC, and other investors. Summit is a principal investment firm based in Eden.

11/15/2021 Podium, Inc. announced that it has raised $201.0 million in its Series D round of funding from Y Combinator Continuity Fund I, L.P., Durable Capital Partners, LP, Arpex Capital Investimentos SA, Album VC, Sorenson Capital, and other investors. Podium owns and operates a platform to collect and manage online reviews for businesses and is based in Lehi. Album is a venture capital firm based in Lehi. Sorenson is a private equity and venture capital firm based in Lehi.

11/16/2021 Pathology Watch Inc. announced that it has received $25.0 million in a round of funding from Blackbrook Management Group, Spark Growth Ventures, Ceros Capital Markets, Rock Creek Capital, LLC, and other investors. Pathology Watch provides remote specimen interpretation services to hospitals, laboratories, and dermatology centers through its digital pathology solution and is based in Salt Lake City. Rock Creek is a venture and equity investment firm based in Salt Lake City.

11/16/2021 Carketa, Inc. announced it has received $6.0 million in its seed round of funding from Origin Ventures Group, CrossLink Capital, Inc., and other investors. Carketa offers a pre-purchased car inspections platform and is based in Pleasant Grove.

11/16/2021 Qnergy Inc. announced that it has received $16.0 million in a round of funding from OGCI Climate Investments LLP and other investors. Qnergy engages in the development, production, marketing, sale, and maintenance of primary and back-up stationary power solutions and is based in Ogden.

11/16/2021 Cyberconnect, Inc. announced that it has received $10.0 million in a round of funding from Multicoin Capital Management, LLC, Sky9 Capital, and other investors. Cyberconnect designs and develops a decentralized social graph protocol-based software platform and is based in Salt Lake City.

11/25/2021 Journeyfront, Inc. announced that it will receive $12.4 million in funding from 41 investors. The transaction closed on December 2, 2021. Journeyfront develops and markets hiring software solutions and is based in American Fork.