Utah Deal Intelligence - July 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

7/10/2023 OMNIQ Corp. (NasdaqCM:OMQS) agreed to acquire Tadiran Telecom (TTL) L.P. for $16.0 million. OMNIQ provides artificial intelligence-based solutions including computerized and machine vision image processing solutions to deliver data collection, real time surveillance, and monitoring for supply chain management, homeland security, public safety, traffic and parking management, and access control applications and is based in Salt Lake City.

7/11/2023 Forum Health, LLC acquired Proactive Wellness Centers, PLC. The terms of the transaction were not disclosed. Forum provides precision health services and is based in Salt Lake City.

7/13/2023 Entrata, Inc. acquired Simplified Business Group, LLC, dba Rent Dynamics. The terms of the transaction were not disclosed. Rent Dynamics provides lead management and resident rent reporting and financial resources that promote economic inclusion and financial health for renters and is based in Logan. Entrata develops a property management software and is based in Lehi. Mayer Brown served as legal advisor to Rent Dynamics. Wilson Sonsini Goodrich & Rosati served as legal advisor to Entrata.

7/17/2023 Nav Technologies, Inc. acquired Tillful. The terms of the transaction were not disclosed. Nav is a financial health platform for small businesses and is based in Draper.

7/26/2023 Wize Solutions, Inc. acquired Warehouse Equipment Contractors, Inc. The terms of the transaction were not disclosed. Wize provides material handling installation services and is based in West Valley City.

7/26/2023 Any Hour Inc. acquired Black Diamond Experts LLC and Bumble Breeze. The terms of the transaction were not disclosed. Any Hour provides HVAC, plumbing, and electrical services, including repairs, replacements, and maintenance and is based in Orem. Black Diamond provides HVAC, plumbing, and electrical services and is based in Salt Lake City. Bumble Breeze offers professional services including plumbing, construction, and HVAC services and is based in Las Vegas.

7/27/2023 Acadia Healthcare Company, Inc. (NasdaqGS:ACHC) agreed to acquire Turning Point Centers, LLC. The terms of the transaction were not disclosed. Turning Point provides treatment services for patients suffering from substance abuse and mental health conditions and is based in Sandy.

Private Placements

7/6/2023 Mountain Land Physical Therapy announced that it has received a minority equity investment from Clairvest Group Inc. (TSX:CVG). Mountain Land is an outpatient physical therapy business with 41 clinics located in the Mountain West region of the U.S. and is based in Salt Lake City.

7/10/2023 Qualiti, Inc. announced that it will receive $5.0 in funding. The transaction closed 8/10/2023 with participation from 13 investors. Qualiti develops and offers a test automation solution managed by artificial intelligence and is based in Sandy.

7/11/2023 Recursion Pharmaceuticals, Inc. (NasdaqGS:RXRX) announced its collaboration and $50.0 million investment from NVIDIA Corporation (NasdaqGS:NVDA). Recursion is a clinical stage TechBio company decoding biology to industrialize drug discovery and is based in Salt Lake City.

7/21/2023 Electric Power Systems, Inc. announced that it has received a round of funding that included participation from new investor United Airlines Ventures. Electric designs and manufactures energy storage systems, DC fast-charging stations, and electric propulsion products for aerospace and is based in North Logan.

7/26/2023 Protect AI, Inc. announced that it has received $35.0 million in its Series A round of funding led by Evolution Equity Partners with participation from Salesforce Ventures, Acrew Capital, boldstart ventures, Knollwood Capital, and Pelion Ventures. Pelion is a venture capital firm based in Salt Lake City.