Utah Deal Intelligence - September 2022

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

9/1/2022 Fishbowl Inventory acquired Red Salt, its exclusive distributor in the Asia-Pacific region trading as Fishbowl Australia. The terms of the transaction were not disclosed. Fishbowl provides inventory management software for small businesses and is based in Orem.

9/1/2022 Fisher's Document Systems, Inc. acquired the Managed Print Services business of VLCM. The terms of the transaction were not disclosed. VLCM provides comprehensive IT, enterprise data, and cybersecurity solutions and is based in Salt Lake City.

9/2/2022 AdSwerve, Inc. acquired Metric Partners Consulting, LLC. The terms of the transaction were not disclosed. Metric owns and operates an adobe platform that provides implementation, integration, strategy, execution, and managed services and is based in Payson.

9/8/2022 Alterra Mountain Company acquired The BFC Company, LLC. The terms of the transaction were not disclosed. BFC provides ski and snowboard rental delivery services to resorts and consumers and is based in Park City.

9/9/2022 IXL Learning, Inc. acquired Emmersion Learning, Inc. The terms of the transaction were not disclosed. Emmersion operates as an educational technology company that specializes in personalizing language learning by providing testing tools that diagnose learning gaps and prescribe an individualized learning path and is based in Lehi.

9/9/2022 Canyon Home Care & Hospice acquired Uintah Basin Home Health and Hospice. The terms of the transaction were not disclosed. Uintah provides nursing care and rehabilitation therapy services, such as home health, personal care, and hospice care for patients at their homes, and is based in Roosevelt. Canyon provides nursing care and rehabilitation therapy services for patients at their homes and is based in Salt Lake City.

9/13/2022 Amynta Agency Inc. acquired Universal Technical Services Inc. from iFIT Health & Fitness Inc. The terms of the transaction were not disclosed. Universal is a diversified support services and extended warranty operations company based in Logan. iFIT engages in the development, manufacturing, and distribution of home fitness equipment and is based in Logan.

9/15/2022 Kenect, LLC acquired Friendemic, Inc. The terms of the transaction were not disclosed. Friendemic provides social media strategy, social engagement, online reputation engagement, and social analytic services for businesses worldwide and is based in Salt Lake City. Kenect develops texting tools for businesses to connect with their customers and is based in Pleasant Grove.

9/15/2022 Extra Space Storage Inc. (NYSE:EXR) and its subsidiaries acquired multiple businesses doing business as Storage Express for $590.0 million. Extra Space is a fully integrated, self-administered and self-managed real estate investment trust that owns and operates self-storage properties and is based in Salt Lake City. Latham & Watkins LLP served as legal advisor to Extra Space.

9/15/2022 Simplicity Group LLC agreed to acquire Allegis Advisor Group. The terms of the transaction were not disclosed. Allegis provides practice development programs to insurance carriers and independent advisors and is based in South Jordan.

9/19/2022 Select Portfolio Servicing, Inc. agreed to acquire certain assets from Rushmore Loan Management Services, LLC. The terms of the transaction were not disclosed. Select operates a mortgage servicing company in the U.S. and is based in Salt Lake City. Alston & Bird LLP is serving as legal advisor to Select.

9/20/2022 Spreetail DCC, LLC acquired Buy Box Experts, LLC. The terms of the transaction were not disclosed. Buy operates as a consulting and management agency that supports brands on the Amazon marketplace and is based in Lehi.

9/20/2022 Westwood Tech Group acquired Prototype:IT. The terms of the transaction were not disclosed. Westwood provides IT managed services and is based in South Jordan.

9/21/2022 TricorBraun, Inc. agreed to acquire Mark’s Barrel Company (MBC). The terms of the transaction were not disclosed. MBC specializes in the reconditioning and recycling of industrial containers and is based in West Jordan.

9/22/2022 Retextion, Inc. acquired Bellwethr Inc. The terms of the transaction were not disclosed. Retextion develops a platform that offers to retain and acquire subscribers and is based in Park City.

Private Placements

9/6/2022 Shipley Business Development Services, Inc., dba Shipley Associates, Inc., announced that it has received a round of funding from new investors Patriot Capital, L.P. and Petra Capital Partners, LLC. Shipley provides organizations and individuals with business development consulting and training services focused on winning business in highly complex and competitive environments and is based in Kaysville.

9/13/2022 Portxl International B.V. announced that it has received $10.0 million in its Series A round of funding co-led by new investors BankTech Ventures, LP and Fuse Ventures Management, LLC with participation from Patamar Capital, American Capital Partners, LLC, and Choice Financial Group. BankTech is a venture capital firm based in Sandy.

9/15/2022 Axle Payments announced that it has received $126.0 million in a round of funding led by new investor Pelion Venture Partners with participation from Refashiond Ventures, CrossLink Capital, and other investors. Pelion is a venture capital firm based in Salt Lake City.

9/15/2022 Optisys, Inc. announced that it has received a round of funding from Nikon Corporation (TSE:7731). Optisys manufactures technology to provide metal 3D printed antenna products for aerospace and defense applications and is based in West Jordan.

9/19/2022 Solo, LLC announced that it has raised an equity round of funding from new investor Bregal Sagemount. Solo develops a sales conversion platform for solar and roofing service providers and is based in Lehi. Mayer Brown LLP served as legal advisor to Solo.

9/20/2022 PassiveLogic, Inc. announced that it has raised $15.0 million in funding from NVentures LLC. PassiveLogic develops artificial intelligence driven building automation products, such as hive, cell, and swarm, and is based in Salt Lake City.

9/26/2022 Oops Technologies, Inc. announced that it has raised $5.0 million in funding led by Peterson Partners LP with participation from Pelion Venture Partners, EPIC Ventures, Village Global Management, LLC, and other investors. Oops offers doorstep return pickups for in-store and online purchases and is based in Draper. Peterson is a private equity and venture capital firm based in Salt Lake City. Pelion is a venture capital firm based in Salt Lake City. EPIC is a private equity and venture capital firm based in Salt Lake City.

9/28/2022 CIONIC, Inc. announced that it has raised $12.5 million in a round of funding led by BRV Partners, LLC with participation from EPIC Ventures, Caffeinated Capital Management, LLC, and other investors. EPIC is a private equity and venture capital firm based in Salt Lake City.

9/29/2022 18Birdies, LLC announced that it has raised a round of funding from Decathlon Capital Partners, LLC. Decathlon is a venture capital firm based in Park City.

9/29/2022 Vega Cloud, Inc. announced that it has raised $9.0 million in funding led by Album VC and Sun Mountain Capital with participation from Cowles Company, Tapas Capital, and other investors. Album is a venture capital firm based in Lehi.

9/30/2022 Limble Solutions, Inc. announced that it has raised $16.0 million in funding from 6 investors. Limble designs and develops a maintenance management platform and is based in Lehi.