Utah Deal Intelligence - January 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

1/5/2023 eAssist, Inc., dba eAssist Dental Solutions, Inc., acquired an unknown majority stake in Unitas PPO Solutions, LLC. The terms of the transaction were not disclosed. eAssist provides administrative support services to dental offices and is based in American Fork.

1/5/2023 Wilson Electronics, LLC acquired Zinwave. The terms of the transaction were not disclosed. Wilson designs and manufactures cell phone signal boosters, antennas, cellular accessories, and related components that improve cellular communication in mobile, indoor, marine, and machine-to-machine applications and is based in St. George. Haynes and Boone, LLP served as legal advisor to Wilson.

1/5/2023 Codex IT acquired Intranet Consulting, Inc. The terms of the transaction were not disclosed. Intranet is a managed services provider based in Salt Lake City.

1/6/2023 CaseWorthy, Inc. acquired MediSked, LLC. The terms of the transaction were not disclosed. CaseWorthy develops a case management software platform which enables data collection, case notes, compliance, and ad-hoc reporting for nonprofits and government agencies and is based in Salt Lake City.

1/6/2023 Convenient Brands, LLC acquired ImEX Systems Inc. The terms of the transaction were not disclosed. Convenient Brands develops a business technology platform that offers a range of payment and processing enterprise software solutions and is based in Draper.

1/12/2023 Security National Life Insurance Company agreed to acquire FOXO Life Insurance Company. The terms of the transaction were not disclosed. Security National provides life insurance and annuity products to fund prearranged and prepaid funerals and is based in Salt Lake City.

1/13/2023 Mendocino Forest Products Company, LLC acquired the assets of Utah Wood Preserving Co., including a distribution yard operating as ABS in Denver. The terms of the transaction were not disclosed. Utah Wood Preserving manufactures preservative-treated and fire-retardant-treated lumber and plywood and is based in Woods Cross.

1/17/2023 TaxBit Inc. acquired Spoak, Inc., dba Tactic. The terms of the transaction were not disclosed. TaxBit develops cryptocurrency tax software solutions for consumers and enterprises and is based in Draper.

1/17/2023 Pacific West, LLC acquired Eagle Remediation & Demolition Services, LLC. The terms of the transaction were not disclosed. Pacific West provides services in the area of construction of railroad locomotive fueling facilities, rail yard air brake networks, and wastewater treatment facilities, and is based in Salt Lake City.

1/17/2023 American Equipment Holdings acquired Shannahan Crane & Hoist. The terms of the transaction were not disclosed. American Equipment is a full-service overhead crane and industrial crane supplier, builder, and servicing company and is based in South Salt Lake.

1/19/2023 CompTIA TCA Community acquired TestOut Corporation. The terms of the transaction were not disclosed. TestOut develops training products and technologies that enable networking professionals to prepare for IT industry certification exams and is based in Pleasant Grove.

1/20/2023 Inside Real Estate acquired BoomTown. The terms of the transaction were not disclosed. Inside Real Estate 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. Kirkland & Ellis LLP served as legal advisor to Inside Real Estate.

1/26/2023 Nav Technologies, Inc. acquired the assets of Business Financial Services, Inc., dba Nuula. The terms of the transaction were not disclosed. Nav develops an online business credit platform for business owners to make financial decisions and access funding and is based in Draper. Osler, Hoskin & Harcourt LLP served as legal advisor to Nav.

M&A - Financial

1/10/2023 DIF Capital Partners agreed to acquire Tonaquint Data Centers. The terms of the transaction were not disclosed. Tonaquint provides IT solutions, including colocation, cloud, DRaaS, IaaS, Office 365 backups, and managed solutions and is based in St. George.

Private Placements

1/3/2023 Med Learning Group announced that it has received a round of funding that included participation from new investor DW Healthcare Partners. DW is a private equity and venture capital firm based in Park City.

1/4/2023 Glowbar, Inc. announced that it has received $10.0 million in a round of funding led by new investor Peterson Partners LP. Peterson is a private equity and venture capital firm based in Salt Lake City.

1/5/2023 Qnovo Incorporated announced that it has received $40.0 million in a round of funding and announced its strategic partnership with Vanderhall Motor Works, Inc. Vanderhall designs, engineers, and manufactures light mobility vehicles and is based in Provo.

1/18/2023 Axiom Cloud Inc. announced that it has received $7.4 million in a round of funding led by Blue Bear Capital with participation from DFJ Frontier Management Company, LLC, Artifact Capital, and other investors. DFJ is a venture capital firm based in Lehi.

1/18/2023 Village Pet Care, LLC announced that it has received a round of funding led by individual investor Shane Kelly with participation from new investor General Atlantic Service Company, L.P. Based in Park City, Village Pet operates a chain of pet care centers that provide pet boarding, daycare, grooming, and training services.

1/19/2023 Dentive, LLC announced that it has received a round of funding that included participation from new investor HGGC, LLC. Dentive is a dental service organization that provides management services to entrepreneurial, doctor-run general and specialty dental practices and is based in Provo.

1/23/2023 TwinThread, Inc. announced that it has received a round of funding that included participation from new investor Frazier Group. Frazier Group is a venture capital firm based in Lehi.

1/23/2023 Derivita, Inc. announced that it has received a round of funding that included participation from new investor Frazier Group. Derivita is an educational technology company based in Salt Lake City.

1/23/2023 PURE Infusion Suites, LLC announced that it has received a round of funding that included participation from new investor Frazier Group. PURE owns and operates an outpatient medical office that provides infusion and injection services and is based in Taylorsville.

1/23/2023 Kizik Design, LLC announced that it has received a round of funding that included participation from new investor Frazier Group. Kizik is a technology-based footwear brand that makes hands-free footwear and is based in Lindon.

1/23/2023 ClientSuccess, Inc. announced that it has received a round of funding that included participation from new investor Frazier Group. ClientSuccess develops customer success management software and is based in American Fork.

1/23/2023 Pathology Watch Inc. announced that it has received a round of funding that included participation from new investor Frazier Group. Pathology Watch provides remote specimen interpretation services to hospitals, laboratories, and dermatology centers through its digital pathology solution and is based in Murray.

1/23/2023 Kuali, Inc. announced that it has received a round of funding that included participation from new investor Frazier Group. Kuali offers open-source administrative software solutions using SaaS technologies for higher education and is based in Lehi.

1/23/2023 GSS UK Services Limited announced that it has received $45.8 million in a round of funding that included participation from major investors, including new investors, AlixPartners, LLP, The Cynosure Group, and Mitsubishi UFJ Financial Group, Inc. Cynosure is a private equity firm based in Salt Lake City.

1/23/2023 Project Solar, Inc. announced that it has received a round of funding that included participation from new investor Frazier Group. Project Solar is a solar energy company that offers solar equipment, solar equipment installation, repair, and other related products and services and is based in Lehi.

1/25/2023 Wasted* PBC announced that it has received $7.5 million in a round of funding that included participation from new investors Pure Ventures, Collaborative Fund, Gratitude Railroad, LLC, and other investors. Gratitude is a private equity and venture capital firm based in Park City.

1/31/2023 GrainChain, Inc. announced that it has received $29.0 million in a round of funding that included participation from Overstock.com, Inc. (NasdaqGM:OSTK) and Pelion Venture Partners. Overstock is an online furniture and home furnishings retailer and is based in Salt Lake City. Pelion is a venture capital firm based in Salt Lake City.