Utah Deal Intelligence - July 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
7/1/2022 Innovative FlexPak, LLC acquired ACE Packaging of AZ. The terms of the transaction were not disclosed. Innovative manufactures form, fills, seals, and tear-top pouches and is based in Springville.
7/5/2022 Utah Broadband, LLC acquired the Internet Service business of Strawberry Communications, LLC. The terms of the transaction were not disclosed. Strawberry provides broadband phone and internet services and is based in Draper. Utah Broadband provides wireless broadband services for businesses and residential users in Utah and is based in Sandy.
7/5/2022 SavATree, LLC acquired Utah Tree Works. The terms of the transaction were not disclosed. Utah Tree provides tree, shrub, and lawn care services and is based in Orem.
7/12/2022 Warrior Rising acquired VETtoCEO, Inc. The terms of the transaction were not disclosed. Warrior is a not-for-profit charitable organization that empowers U.S. military veterans and their immediate family members by providing them opportunities to create sustainable businesses, perpetuate the hiring of fellow American veterans, and earn their future and is based in South Jordan.
7/12/2022 Integrity Marketing Group, LLC agreed to acquire Legacy Insurance and Financial Services, LLC. The terms of the transaction were not disclosed. Legacy offers financial and insurance services and is based in West Jordan.
7/13/2022 Nomi Health, Inc. acquired Everyone Health, LLC. In a related transaction on the same day, Nomi acquired Sano Surgery, LLC. The combined value of consideration for both transactions is $26.5 million. Nomi operates as a health care services provider that supports medical testing, vaccination services, and self-insured healthcare plan administration and is based in Orem.
7/13/2022 PCF Insurance Services of the West, LLC acquired Andreini & Company. On 7/15/2022 PCF acquired Peak Performance Team, Inc., and on 7/27/2022 PCF acquired Z Inc., dba Zinc Insurance Agency. The terms of the three transactions were not disclosed. PCF is a full-service consultant and insurance brokerage firm offering commercial, life and health, employee benefits, and workers' compensation solutions and is based in Lehi.
7/14/2022 TPS, LLC acquired Redline Chambers, Inc. The terms of the transaction were not disclosed. Redline manufactures precision-engineered and fabricated vacuum chambers and turn-key systems for the aerospace, defense, energy, electronics, and medical industries and is based in Clearfield.
7/18/2022 Fox Motor Group, LLC acquired three dealerships of Ken Garff Automotive, LLC. The three dealerships acquired are Cadillac of Novi, Southfield Chrysler Dodge Jeep RAM, and Telegraph Chrysler Dodge Jeep RAM. The terms of the transaction were not disclosed. Ken Garff Automotive engages in the retail of new and used cars and also offers service, towing, roadside assistance, washing, annual state inspection services, and parts online and is based in Salt Lake City.
7/26/2022 Equifax Inc. (NYSE:EFX) agreed to acquire Midigator LLC. The terms of the transaction were not disclosed. Midigator develops and operates a chargeback and fraud mitigation technology platform for merchants and payment processors to control their chargebacks and fight fraud and is based in Lindon. Goodwin Procter LLP is serving as legal advisor to Midigator.
Private Placements
7/5/2022 Black Mountain Software, Inc. announced that it has raised a round of funding from Peterson Partners LP. Peterson is a private equity and venture capital firm based in Salt Lake City.
7/12/2022 Continuum Technology Inc. announced that it has received $12.0 million in a round of funding led by Pelion, Inc. with participation from Uncork Capital, Day One Ventures Management, LLC, and other investors. Continuum connects world-class executives with venture-backed companies for fractional and full-time opportunities and is based in Salt Lake City. Pelion is a venture capital firm based in Salt Lake City.
7/14/2022 Avant, LLC announced that it will receive $250.0 million in equity funding from WebBank. The company will receive funding over a three-year revolving term. WebBank is a Utah chartered Industrial Bank based in Salt Lake City.
7/19/2022 Kizik Design, LLC announced that it has received $20.0 million in its Series B round of funding led by The Newcastle Network. Kizik designs and manufactures footwear and is based in Lindon.
7/19/2022 Brite Benefits, Inc. announced that it has received $7.8 million in a round of funding led by returning investor Elevation Capital with participation from Cameron Ventures LLC. Brite develops and provides an employee benefits software for brokers, benefit providers, and HR teams and is based in Salt Lake City.
7/19/2022 Zesty.ai, Inc. announced that it has received $33.0 million in its Series B round of funding led by Centana Growth Partners with participation from Brex Inc. and other investors. Brex provides corporate credit cards and is based in Draper.
7/21/2022 Roster, Inc., dba Roster Technologies, announced that it has raised $6.0 million in its Seed round of funding led by Grix Venture Capital with participation from Peterson Ventures, LLC and Album VC. Roster develops software that helps brands build communities with their customers, scale connections, and advocacy through content and is based in Lehi. Grix and Peterson are venture capital firms based in Salt Lake City. Album is a venture capital firm based in Lehi.
7/21/2022 Wooly, Inc. announced that it has raised $6.0 million in a round of funding led by Grix Venture Capital with participation from Album VC and Peterson Ventures, LLC. Wooly provides big data services that enable businesses to discover and target their top customers for social marketing and is based in Sandy.