Utah Deal Intelligence - January 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
1/1/2022 Young Automotive Group, LLC acquired Renegade Sports of Logan Inc. The terms of the transaction were not disclosed. Renegade operates motorcycle accessory and vehicle dealerships and is based in Logan. Young operates as an automotive dealer and is based in Layton.
1/3/2022 SnugZ USA Inc. acquired Sweda Company LLC. The terms of the transaction were not disclosed. SnugZ manufactures and retails apparel and promotional products and is based in West Jordan.
1/4/2022 Forum Health LLC acquired Dr. Quinn Weight Loss, PLLC and Cratus Medical Vitality Institute, PLLC. The terms of the transaction were not disclosed. Forum provides precision health services and is based in Salt Lake City.
1/4/2022 Imperial Dade acquired Hylon-Koburn Chemicals Inc. The terms of the transaction were not disclosed. Hylon-Koburn distributes janitorial products and is based in Salt Lake City.
1/4/2022 Executech Utah, Inc. acquired Dyrand Systems Inc. The terms of the transaction were not disclosed. Executech provides IT solutions and consulting services and is based in South Jordan.
1/5/2022 Stingray Group Inc. (TSX:RAY.A) acquired POP Radio, LP, dba InStore Audio Network, for $46.5 million. InStore operates as a retail radio network to provide music and advertising solutions to grocery and drug chains and is based in Salt Lake City.
1/6/2022 Pueblo Mechanical & Controls, LLC acquired Rocky Mountain Mechanical, Inc. (RMM). The terms of the transaction were not disclosed. RMM operates as a mechanical contracting company that provides construction services and is based in South Salt Lake.
1/6/2022 Nomi Health, Inc. acquired Artemis Health Inc. The terms of the transaction were not disclosed. Artemis operates as a health data analytics company and is based in Salt Lake City. Nomi operates as a health care services provider and is based in Orem.
1/6/2022 CMT Engineering Laboratories acquired Paradigm Consultants, Inc. 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.
1/6/2022 Elevate Holdings Inc. acquired Keystone Aviation, LLC. The terms of the transaction were not disclosed. Keystone provides aircraft charter, aircraft sales and management, and aircraft maintenance services and is based in Salt Lake City.
1/6/2022 ImageFIRST Healthcare Laundry Specialists, LLC acquired Textile Care Services, Inc. The terms of the transaction were not disclosed. Textile provides healthcare linen and laundry services and is based in Salt Lake City.
1/7/2022 LAI International, Inc. acquired R&M Manufacturing, Inc. The terms of the transaction were not disclosed. R&M manufactures and supplies water treatment systems and is based in Lindon.
1/9/2022 United States Beverage, LLC and FC Crestone, LLC agreed to acquire Uinta Brewing Company. The terms of the transaction were not disclosed. Uinta operates as a brewery and is based in Salt Lake City.
1/10/2022 CenExel Clinical Research, Inc. acquired California Neuroscience Research Medical Group, Inc. The terms of the transaction were not disclosed. CenExel provides medical and scientific support in the design and execution of clinical trials and is based in Salt Lake City.
1/11/2022 American Equipment, Inc. acquired Eastern Crane & Hoist, 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.
1/13/2022 Security National Financial Corporation (NasdaqGM:SNFC.A) acquired Holbrook Mortuary. The terms of the transaction were not disclosed. Security engages in life insurance, cemetery and mortuary, and mortgage businesses and is based in Draper. Holbrook provides funeral services and is based in Salt Lake City.
1/13/2022 DigiCert, Inc. acquired Mocana Corporation. The terms of the transaction were not disclosed. DigiCert provides secure socket layer certificates and management tools and is based in Lehi.
1/13/2022 eLearning Brothers, LLC acquired Rebellion Training, LLC. On 1/24/2022, eLearning acquired Origin Learning Solutions Private Limited. The terms of the transactions were not disclosed. eLearning designs and develops templates and assets that enable users to create courses and is based in American Fork.
1/14/2022 Fitlab Inc. acquired Ragnar Events, LLC. The terms of the transaction were not disclosed. Ragnar provides overnight relay racing services and is based in Kaysville.
1/17/2022 INTELITECHS acquired Total Cloud IT. The terms of the transaction were not disclosed. INTELITECHS provides managed information technology services and is based in Salt Lake City. Total Cloud IT provides cloud services for businesses and is based in South Salt Lake.
1/19/2022 Thirty Three Threads, Inc. acquired Vooray International, Inc. The terms of the transaction were not disclosed. Vooray engages in the online retail of duffels, backpacks, totes, activewear and accessories and is based in Logan.
1/20/2022 Steribin, LLC acquired Vioguard LLC. The terms of the transaction were not disclosed. Steribin engages in manufacturing patent-pending devices for sanitizing airport security trays and is based in St. George.
1/24/2022 Nagarro SE (DB:NA9) agreed to acquire Ace Outsource LLC, dba RipeConcepts LLC. The terms of the transaction were not disclosed. RipeConcepts operates as an outsourcing company for graphic design, 3D modeling, animation, web development, digital marketing, and other services and is based in Salt Lake City.
1/25/2022 PDQ.com Corporation acquired SmartDeploy. The terms of the transaction were not disclosed. PDQ develops deployment software and system administrator tools and is based in South Salt Lake.
1/25/2022 Vectra AI, Inc. acquired Siriux Security Technologies, Inc. The terms of the transaction were not disclosed. Siriux develops SaaS-based tools for managing application security risk and provides SaaS application vulnerability assessments and is based in South Jordan.
1/31/2022 GrowGeneration Corp. (NasdaqCM:GRWG) acquired Horticultural Rep Group (HRG). The terms of the transaction were not disclosed. HRG sells horticultural products to the indoor and greenhouse horticultural markets and is based in Ogden.
M&A - Financial
1/4/2022 MidOcean Partners LLP acquired Casper’s Ice Cream, LLC. The terms of the transaction were not disclosed. Based in Cache Valley and known primarily for its FatBoy ice cream sandwiches, Casper’s manufactures and distributes a broad selection of frozen novelty products including ice cream sandwiches, cones, bars, sticks, cups and more. Bennett Tueller Johnson & Deere served as legal advisor to Casper's.
1/6/2022 Goode Partners LLC acquired Readywise, LLC. The terms of the transaction were not disclosed. Readywise operates as an omni channel manufacturer and marketer of freeze-dried and dehydrated foods and is based in Salt Lake City.
Private Placements
1/4/2022 Cion Digital Inc. announced that it has raised $12.0 million in a round of funding from Green Visor Capital Management Company, LLC, 645 Ventures Management, LLC, EPIC Ventures, and other investors. EPIC is a private equity and venture capital firm based in Salt Lake City.
1/5/2022 Figure Projects, Inc. announced that it has received $18.0 million in a round of funding from Signalfire, LLC, Goodyear Ventures, Pelion Venture Partners, and other investors. Pelion is a venture capital firm based in Salt Lake City.
1/5/2022 Angel Studios, Inc. announced that it has received $47.0 million in a round of funding from Gigafund, Kickstart Seed Fund, and other investors. Angel operates as an online video platform that provides movies and TV show streaming services and is based in Provo. Kickstart is a private equity and venture capital firm based in Cottonwood Heights.
1/5/2022 Zubie, Inc. announced that it has raised a round of funding from Decathlon Capital Partners, LLC. Decathlon is a venture capital firm based in Park City.
1/10/2022 Vets Plus, Inc. and Noble Pharma, LLC announced that they have received investment from DW Healthcare Partners. DW is a private equity and venture capital firm based in Park City.
1/11/2022 Transcarent, Inc. announced that it has received $200.0 million in its Series C round of funding led by Kinnevik and Human Capital with participation from Ally Bridge Group, Northwell Health, Intermountain Healthcare, Rush University Medical Center, and other investors. Intermountain owns and operates hospitals and clinics and is based in Salt Lake City.
1/11/2022 PassiveLogic, Inc. announced that it has received $34.0 million in a round of funding from Brookfield Growth Partners, Era Ventures LLC, RETV Management LLC, and other investors. PassiveLogic develops artificial intelligence driven building automation products and is based in Salt Lake City. RETV is a venture capital firm based in Park City.
1/12/2022 Verb Technology Company, Inc. (NasdaqCM:VERB) announced that it has entered into a common stock purchase agreement with Tumim Stone Capital LLC, the Manager and General Partner of 3i, L.P., providing for the sale and issuance of up to $50.0 million in shares of its common stock through an equity line of credit. Additionally, it entered into a note purchase agreement with three institutional investors providing for the sale and issuance of an aggregate original principal amount of $6.3 million in convertible notes due 2023. On the same date, the company received proceeds of $6.0 million from the note offering in its first tranche. Verb develops interactive video-based sales enablement applications, including interactive livestream eCommerce, webinar, CRM and marketing applications for entrepreneurs and enterprises, and is based in American Fork. Stradling Yocca Carlson & Rauth, P.C. served as legal advisor to Verb.
1/13/2022 GoEngineer, Inc. announced that it has raised an equity round of funding from new investor Court Square Capital Management, L.P. GoEngineer distributes product design tools for customers in high tech, medical, machine design, energy, and other industries and is based in Salt Lake City. Jones Day served as legal advisor to GoEngineer.
1/14/2022 Giddy announced that it has received $8.0 million in a round of funding from Pelion Venture Partners and other investors. Giddy develops a non-custodial DeFi platform that provides streamlined access to DeFi crypto investing and staking and is based in Draper. Pelion is a venture capital firm based in Salt Lake City.
1/17/2022 JoinRoost, Inc. announced that it has received funding from Blue Field Capital, LLC. Blue Field is a capital venture firm based in Holladay.
1/19/2022 Clarke Capital Partners acquired an unknown minority stake in Clear Link Technologies, LLC. The terms of the transaction were not disclosed. Clarke is a family office based in Provo. Clear Link provides marketing, sales, data science, and insurance services and is based in Salt Lake City.
1/25/2022 iWorQ Systems Inc. announced that it has received a round of funding from new investor Norland Capital. iWorQ provides community development and public works software solutions and is based in Logan.
1/25/2022 Route App Inc. announced the close of its $200.0 million Series B round, taking the company to a $1.25 billion valuation after only three years in business. The round was led by a large London-based investment firm with participation from early-Amazon investor Madrona Venture Group, Toast-investor Riot Ventures, Banner Ventures, and other investors. Route is a post-purchase experience platform and package tracking company based in Lehi. Banner Ventures is a private equity and venture capital firm based in Lehi.
1/27/2022 OneShield, Inc. announced that it has received $50.0 million in a round of funding from Pacific Lake Partners, LLC, Bain Capital Credit, LP, Peterson Partners LP, and other investors. Peterson is a private equity and venture capital firm based in Salt Lake City.