Utah Deal Intelligence - October 2024

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

10/1/2024 Stax Payments, Inc. acquired BlockChyp, Inc. The terms of the transaction were not disclosed. BlockChyp operates an integrated payments platform for independent point-of-sale developers and is based in Lindon.

10/1/2024 Pye-Barker Fire & Safety, LLC acquired Peak Alarm Company Inc. The terms of the transaction were not disclosed. Peak provides security services and is based in Salt Lake City.

10/2/2024 OptConnect Management, LLC acquired Capestone B.V. The terms of the transaction were not disclosed. OptConnect engages in the distribution of internet of things hardware devices and is based in Kaysville.

10/8/2024 Canyon Laboratories, LLC, dba Canyon Labs, acquired Life Pack Labs. The terms of the transaction were not disclosed. Canyon Labs is a medical device and pharmaceutical consulting, sterility assurance, analytical chemistry and package testing provider based in Bluffdale.

10/11/2024 ShareWillow, Inc. acquired Plentive Inc. The terms of the transaction were not disclosed. Plentive develops and operates a custom-tailored bonus plan software platform and is based in Richfield.

10/14/2024 Nearmap US Inc. acquired the assets of Tensorflight Inc. Nearmap operates a geospatial map technology for business, enterprise, and government customers and is based in Lehi.

10/15/2024 MyCredibility acquired FreelanceClients.co. The terms of the transaction were not disclosed. FreelanceClients develops a freelancing platform to streamline client growth and is based in Utah. MyCredibility designs and develops a platform to help freelancers improve their professional credibility and is based in Salt Lake City.

10/17/2024 Grote Company, Inc. acquired SPI Automation Group, LLC. The terms of the transaction were not disclosed. SPI manufactures custom automation and robotic machinery for labor intensive manufacturing and is based in Sandy.

10/17/2024 Autura acquired Traxero. The terms of the transaction were not disclosed. Based in Salt Lake City, Traxero engages in developing a software for the towing, recovery, and roadside assistance industry. Goodwin Procter LLP served as legal advisor to Traxero.

10/18/2024 Advanced Care Group acquired 3D Medical Staffing. The terms of the transaction were not disclosed. 3D provides medical staffing services and is based in Salt Lake City.

10/23/2024 Hyperquake LLC acquired MarCore Group LLC. The terms of the transaction were not disclosed. MarCore operates as a digital marketing agency and is based in Salt Lake City.

10/23/2024 Sunroc Corporation acquired Edge Excavation, Inc. and Edge Trucking Inc. The terms of the transaction were not disclosed. Edge provides contracting services and is based in Logan. Based in Spanish Fork, Sunroc specializes in construction services and supplying concrete, asphalt, aggregate, masonry, and other construction materials.

10/29/2024 PACS Group, Inc. (NYSE:PACS) agreed to acquire operations at 12 skilled nursing facilities. The terms of the transaction were not disclosed. PACS, through its subsidiaries, operates skilled nursing facilities and assisted living facilities in the U.S. and is based in Farmington.

10/29/2024 CECO Environmental Corp. (NasdaqGS:CECO) agreed to acquire Profire Energy, Inc. (NasdaqCM:PFIE) for $123.2 million. Profire, based in Lindon, provides solutions that enhance the efficiency, safety, and reliability of industrial combustion appliances while mitigating potential environmental impacts related to the operation of these devices. Mayer Brown LLP is serving as legal advisor to Profire.

M&A - Financial

10/22/2024 Trive Capital and Blue Marlin Partners acquired a majority share of Mo' Bettahs Hawaiian Style Food from Utah-based and restaurant-focused growth equity firm Savory Fund who will maintain a minority stake in the company. The terms of the transaction were not disclosed. Based in Bountiful, Mo' Bettahs was founded in 2008 by brothers Kimo and Kalani Mack and now operates 55 locations in Utah, Idaho, Texas, Oklahoma, Kansas, Missouri, and Nevada. Mayer Brown served as legal advisor to Mo’ Bettahs and Savory Fund.

10/29/2024 Centana Growth Partners, Cota Capital Management LLC, PruVen Capital and Cross Creek Advisors, LLC acquired First Connect Insurance Services LLC for $60.0 million. Cross Creek is a venture capital firm based in Salt Lake City.

10/30/2024 Francisco Partners agreed to acquire AdvancedMD for $1.1 billion. AdvancedMD is an ambulatory healthcare technology company that offers cloud medical office software to practitioners, practices, and medical billing companies and is based in South Jordan.

Private Placements

10/4/2024 The Picklr announced that it has received a round of funding that included participation from new investor Chaifetz Group. The Picklr provides indoor pickleball facilities for corporate events, private events, and giveaways and is based in Kaysville.

10/8/2024 Green Cabbage Inc. announced that it has received $20.0 in its Series A round of funding that included participation from new investor Sorenson Capital. Sorenson is a private equity and venture capital firm based in Lehi.

10/8/2024 Vozzi LLC announced that it has raised $7.0 million in a round of funding from new investor Growth Street Partners and Tim Ballantyne and angel investor Tim Jenkins. Based in Millcreek, Vozzi operates as a provider of fan communication, engagement and text-to-buy software for sports teams, entertainment venues, and events.

10/9/2024 Clene Inc. (NasdaqCM:CLNN) announced that it has received $7.3 million in funding from 13 investors. Based in Salt Lake City, Clene is a clinical-stage pharmaceutical company that focuses on the discovery, development, and commercialization of novel clean-surfaced nanotechnology therapeutics.

10/10/2024 Doowii, Inc. announced that it has received a round of funding that included participation from new investor WGU Labs. WGU is a corporate investment arm of Western Governors University and is based in South Salt Lake.

10/10/2024 SuiteSpot Technology announced that it has received a round of funding led by new investor RETV Management LLC with participation from new investor UDR, Inc. (NYSE:UDR). RETV is a venture capital firm based in Park City.

10/15/2024 Monogoto Ltd announced that it has received $27.0 million in a round of funding led by Toyota AI Ventures Advisors, LLC with participation from Samsung NEXT, J-Ventures, Kickstart Seed Fund, and other investors. Kickstart is a private equity and venture capital firm based in Cottonwood Heights.

10/16/2024 Angel Studios, Inc. announced that it has received $10.0 million in funding in a transaction that included participation from a single investor. Angel is a movie studio that, funds, produces, and distributes titles from independent creators and is based in Provo

10/17/2024 Tour24, Inc. announced that it has received $5.0 million in a round of funding co-led by new investors Mirasol Capital, LLC and RETV Management LLC. RETV is a venture capital firm based in Park City.

10/21/2024 Kirkland's, Inc. (NasdaqGS:KIRK) announced that, subject to approval of its shareholders, Beyond, Inc. (NYSE:BYON) will invest $25.0 million in Kirkland's through a combined debt and equity transaction. Beyond, headquartered in Midvale, owns the Bed Bath & Beyond, Overstock and Zulily online brands. Latham & Watkins served as legal adviser to Beyond.

10/21/2024 BDev Ventures acquired an unknown minority stake in Recyclops, Inc. Recyclops is a waste management platform that delivers accessible recycling solutions to more than one million households across the U.S. and is based in Salt Lake City.

10/22/2024 Paccurate, Inc. announced that it has received $8.1 million in a round of funding led by High Alpha, Inc. with participation from Hyde Park Angels, Tech Square Ventures, LLC, Royal Street Ventures, and other investors. Royal is a venture capital and private equity firm based in Park City.

10/28/2024 Voze, Inc. announced that it has received $12.0 million in its Series A round of funding led by Mercury Venture Partners and Origin Ventures Group, LLC with participation from Pipeline Capital Partners and Album VC. Voze develops artificial intelligence-based sales software for capturing sales activity data and is based in Sandy. Album is a venture capital firm based in Lehi.

10/30/2024 IGX Technologies LLC, dba Growth99, announced that it has received a round of funding that included participation from Pracinco, LLC and other investors. Growth99, based in Salt Lake City, engages in the design and development of products, software development, website development, SEO, content creation, content digitization, customer development, and reputation management.