Utah Deal Intelligence - October 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
10/4/2022 Genius Group Limited (NYSEAM:GNS) agreed to acquire Revealed Films Inc. for $10.0 million. Revealed is a media production company that specializes in multi-part documentaries and is based in Park City.
10/5/2022 AvantGuard Monitoring Centers, LLC acquired Armstrong’s National Alarm Monitoring and their monitoring centers and offices in Dartmouth, Montreal, Edmonton and Moncton, Canada. The terms of the transaction were not disclosed. AvantGuard provides alarm monitoring, professional monitoring, cloud monitoring, and hybrid partnerships services and is based in Ogden.
10/11/2022 Riddle Technologies AG acquired Qzzr, Inc. The terms of the transaction were not disclosed. Qzzr operates as an interactive solutions company, offering interactive content such as quizzes, polls, surveys, and lists to companies to reach their customers, and is based in Cottonwood Heights.
10/11/2022 Nextech Systems, LLC acquired Fusion Global, Inc, dba TouchMD. The terms of the transaction were not disclosed. TouchMD provides a solution for medical practices that takes patients visually through a consultation with photos, videos, and education and is based in Cedar City.
10/14/2022 PGT Innovations, Inc. (NYSE:PGTI) acquired Martin Door Manufacturing, Inc. for $185.0 million. Martin manufactures and designs custom garage doors and is based in Salt Lake City. Stoel Rives LLP and Michael Best & Friedrich LLP served as legal advisors to Martin.
10/17/2022 FleetPride, Inc. acquired Best Deal Spring, Inc. The terms of the transaction were not disclosed. Best manufactures and distributes heavy duty truck parts and is based in Payson.
10/18/2022 NetDocuments Software, Inc. acquired World Software Corporation. The terms of the transaction were not disclosed. NetDocuments develops cloud-computing content management and collaboration solutions and is based in Lehi.
10/19/2022 MarketStar Corporation acquired Out2Bound. The terms of the transaction were not disclosed. MarketStar operates as a sales, marketing, and business process outsourcing agency and is based in Ogden.
10/20/2022 Al's Sporting Goods Inc. acquired Bob Ward & Sons, Inc. The terms of the transaction were not disclosed. Al’s owns and operates retail stores to sell sporting products and accessories and is based in Logan.
10/21/2022 CMT Technical Services acquired CTC-Geotek. The terms of the transaction were not disclosed. CMT offers consulting engineering, construction engineering management, highway and structural inspections, testing, and analytical laboratory services and is based in West Valley City.
10/24/2022 InsideRE, LLC acquired AmpStats. The terms of the transaction were not disclosed. AmpStats develops web-based software for real estate brokers for recruiting, retention and talent growth across multiple markets and offices and is based in Murray. 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.
10/26/2022 Groove Technology Solutions, dba Groove Entertainment Technologies Inc., acquired Ekho Comm LLC. The terms of the transaction were not disclosed. Ekho sells and installs Wilson Electronics equipment and is based in Springville. Groove offers property technology solutions for commercial and hospitality facilities and is based in Midvale.
10/27/2022 NIC Inc. agreed to acquire Rapid Financial Solutions for $68.0 million. Rapid provides fintech, payment processing, card issuing, and mobile engagement solutions and is based in Logan.
Private Placements
10/3/2022 Polco Inc. announced that it has received $14.0 million in a round of funding led by Draper Fisher Jurvetson Mercury Venture Partners, L.P. with participation from Royal Street Ventures and Bat Ventures. Royal is a venture capital and private equity firm based in Park City.
10/4/2022 BotNot, Inc. announced that it has received funding led by Kickstart Seed Fund with participation from Signal Peak Venture and other investors. Kickstart is a private equity and venture capital firm based in Cottonwood Heights. Signal is a private equity and venture capital firm based in Salt Lake City.
10/5/2022 Frontpoint Health announced that it has received a recapitalization round of funding that included participation from Cimarron Healthcare Capital LP and Tacoma Investment Holdings. Cimarron is a private equity firm based in Salt Lake City.
10/10/2022 Trendsi announced that it has received $25.0 million in a round of funding led by Lightspeed Ventures, LLC with participation from Basis Set Ventures, LLC, Footwork, Peterson Ventures, LLC, and other investors. Peterson is a venture capital firm based in Salt Lake City.
10/11/2022 Qwick, Inc. announced that it will receive $39.8 million from Tritium Partners LLC, Album VC, Kickstart, and other investors. Album is a venture capital firm based in Lehi. Kickstart is a private equity and venture capital firm based in Salt Lake City.
10/11/2022 ParityGo, Inc. announced that it has received $5.8 million in a round of funding that included participation from RETV Management LLC, Wyse Meter Solutions Inc., and other investors. RETV is a venture capital firm based in Park City.
10/11/2022 Active Design Advisors Inc. announced that it has received a round of funding led by Housing Impact Fund with participation from Kilroy Realty Corporation. Housing Impact is a fund managed by RETV Management LLC, a venture capital firm based in Park City.
10/24/2022 Recursion Pharmaceuticals, Inc. (NasdaqGS:RXRX) announced its $150.3 million private placement led by Kinnevik AB with participation from Baillie Gifford & Co., Mubadala Investment Company PJSC, The Invus Group, LLC, and other investors. Recursion is a clinical-stage biotechnology company based in Salt Lake City.
10/25/2022 HitPiece announced that it has received $5.0 million in a round of funding from new investor Pelion, Inc., individual investor Rick Ross, and other investors. Pelion is a venture capital firm based in Salt Lake City.
10/25/2022 Japan Crate, LLC announced that it has received a round of funding from Decathlon Capital Partners, LLC. Decathlon is a venture capital firm based in Park City.
10/26/2022 SwiftConnect Inc. announced that it has received $17.0 million in an equity round of funding co-led by JLL Spark and Navitas Capital GP, LLC with participation from Bridge Investment Group Holdings Inc., Crow Family Holdings, and other investors. Bridge engages in the real estate investment management business and is based in Salt Lake City.
10/27/2022 HealthJoy, LLC announced that it has received $60.0 million in a round of funding led by new investor Valspring Capital Management, LP with participation from Endeavour Vision SA, EPIC Ventures, and other investors. EPIC is a private equity and venture capital firm based in Salt Lake City.
10/27/2022 Amenify Corporation announced that it has raised a round of funding that included participation from Unit Leader, LLC, WISE Ventures, LLC, RETV Management LLC, and other investors. RETV is venture capital firm based in Park City.
10/31/2022 Invygo Tech FZ LLC announced that it has raised $10.0 million in a round of funding led by Middle East Venture Partners with participation from Knollwood Investment Advisory, LLC, Signal Peak Ventures, and other investors. Signal is a private equity and venture capital firm based in Salt Lake City.