Utah Deal Intelligence - August 2023

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

8/1/2023 MyPlanAdvocate Insurance Solutions, Inc. acquired 100% membership interests in Eversurance, LLC from EverQuote, Inc. (NasdaqGM:EVER) for $13.2 million. MyPlanAdvocate operates as a Medicare agency that provides healthcare coverage solutions and is based in Salt Lake City. Fredrikson & Byron, P.A. served as legal advisor to MyPlanAdvocate

8/1/2023 Extendly for Highlevel acquired an unknown stake in Noomerik, LLC. The terms of the transaction were not disclosed. Noomerik develops a payment processing platform and is based in South Jordan.

8/2/2023 Mobility Market Intelligence acquired GetBonzo LLC. The terms of the transaction were not disclosed. Mobility provides SaaS-based data intelligence, analytics, and sales enablement tools to the mortgage and real estate industry and is based in Cottonwood Heights.

8/3/2023 Forum Health, LLC acquired Inshape Medical. The terms of the transaction were not disclosed. Forum provides precision health services and is based in Salt Lake City.

8/7/2023 NFP Corp. acquired Divergent Wealth Advisors, LLC. The terms of the transaction were not disclosed. Divergent is an independent registered investment advisor that focuses on holistic wealth management solutions and retirement planning and is based in South Jordan.

8/7/2023 Tendit Group acquired Precision Asphalt Maintenance Inc. The terms of the transaction were not disclosed. Precision provides asphalt services and is based in Salt Lake City.

8/7/2023 MicroCare, LLC acquired ICT Infection Control Technology Inc. The terms of the transaction were not disclosed. ICT is a provider of advanced infection control tablets and easy-to-mix concentrates and is based in Clearfield.

8/9/2023 The Soda Spoon Marketing Agency acquired NFINITY Web Solutions. The terms of the transaction were not disclosed. Soda Spoon provides digital marketing solutions and is based in Draper. NFINITY is a full-service digital agency based in Salt Lake City.

8/10/2023 SavATree, LLC acquired Atlas Tree Service L.L.C. The terms of the transaction were not disclosed. Atlas provides tree care services and is based in Salt Lake City.

8/14/2023 Bentley Systems, Incorporated (NasdaqGS:BSY) acquired Blyncsy, Inc. The terms of the transaction were not disclosed. Blyncsy provides a complete suite of hardware, software, and application solutions for traffic management and is based in Salt Lake City.

8/15/2023 Pye-Barker Fire & Safety, LLC acquired AAA Fire Safety & Alarm, Inc. The terms of the transaction were not disclosed. AAA provides emergency, inspection, maintenance, repair, design, and installation services of fire alarm, sprinkler, suppression, and security systems and is based in Layton.

8/16/2023 Domes Pharma S.A. acquired SentrX Animal Care, Inc. The terms of the transaction were not disclosed. SentrX is a veterinary medical device company that develops and manufactures veterinary wound care products and is based in Salt Lake City.

8/17/2023 Gibson Insurance Agency, Inc. acquired Brisk Advisors. The terms of the transaction were not disclosed. Brisk provides risk management and personal insurance solutions and is based in Salt Lake City.

8/31/2023 Intermountain Health Care, Inc. acquired Advent Home Health. The terms of the transaction were not disclosed. Intermountain operates as a health care facilities company and is based in Salt Lake City.

8/31/2023 Engage PEO, LLC acquired Zamp HR Inc. The terms of the transaction were not disclosed. Zamp provides human resource solutions and is based in Lindon. Akerman LLP served as legal advisor to Zamp.

8/31/2023 Paragon Medical, Inc. acquired Industrial Anodizing Inc. The terms of the transaction were not disclosed. Industrial specializes in titanium anodizing for the medical and aerospace industries and is based in Hyrum.

M&A - Financial

8/16/2023 Maddix Capital acquired AK Masonry. The terms of the transaction were not disclosed. Maddix worked with Hillcrest Bank to secure partial financing to complete the acquisition. AK is a masonry and concrete contractor specializing in municipal and commercial building projects and is based in South Jordan. Maddix is a private equity firm based in Salt Lake City. Hillcrest, a division of NBH Bank, provides a comprehensive portfolio of products and services to meet the needs of commercial, consumer, and small business clients in Utah, Idaho, Texas, and New Mexico.

Private Placements

8/10/2023 TrueNorth announced that it has received strategic investment in a round of funding that included participation from new investor LoanPro Software, LLC. LoanPro designs and develops SaaS loan management, servicing and collections software and is based in Farmington.

8/15/2023 Grit announced that it has received $7.0 million in a round of funding co-led by Abstract Ventures and The Founders Fund, LLC with participation from Operator Partners LLC, 8VC, A-star, AME Cloud Ventures, LLC, Cofound Partners, LLC, and other investors. Cofound is a venture capital firm based in Salt Lake City.

8/21/2023 Nodal Power, Inc. announced that it has received $13.0 million in a seed round of funding led by new investor Spacestation Investments with participation from many Utah angels and other investors. Nodal manufactures and develops turnkey solutions to operate renewable energy-based power plants and use them for data centers and is based in Salt Lake City. Spacestation is a venture capital firm based in Layton.

8/23/2023 Global Uprising, PBC, dba Cotopaxi, announced that it will raise $8.0 million in funding. As of 9/15/2023, the company had received $6.1 million in its first tranche from 8 investors. Cotopaxi designs and sells outdoor products and apparel for men and women with a social impact strategy that focuses on global poverty alleviation and responsible sourcing and manufacturing practices throughout its supply chains and is based in Salt Lake City.