Utah Deal Intelligence - January 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
1/2/2024 Quality Collision Group acquired Cascade Collision Repair. The terms of the transaction were not disclosed. Cascade offers vehicle repair and maintenance services and is based in Lehi.
1/3/2024 QA1 Precision Products, Inc. acquired substantially all of the assets of Speedtech Performance USA. The terms of the transaction were not disclosed. Speedtech manufactures chassis and suspension solutions for the pro touring and restomod markets and is based in Saint George.
1/4/2024 Forum Health, LLC acquired Birken Medical Aesthetics. The terms of the transaction were not disclosed. Forum provides precision health services and is based in Salt Lake City.
1/5/2024 PocketList Inc. acquired ALTA Finance, Inc. The terms of the transaction were not disclosed. PocketList develops an automotive sales platform for the luxury automotive market and is based in Orem. ALTA develops a Web3 platform for investing in automotive and real estate assets and is based in Orem.
1/8/2024 Daytona Superior Corporation acquired HK Composites. The terms of the transaction were not disclosed. HK manufactures insulated concrete sandwich panel connector systems and is based in American Fork.
1/8/2024 360training.com, Inc. acquired Mortgage Educators and Compliance, Inc. The terms of the transaction were not disclosed. Mortgage Educators offers online mortgage education and training services and is based in American Fork.
1/9/2024 Diversify Wealth Management acquired Caliber Wealth Management, LLC, Diversify, Inc., and FirstPurpose Wealth LLC. The terms of the transactions were not disclosed. Caliber is a privately owned family office based in Orem that provides financial planning and portfolio management services for high net worth individuals, pension and profit sharing plans, and corporations. Diversify, Inc. is a financial services company that offers investment, insurance, and wealth management solutions and is based in Sandy. Based in Orem, FirstPurpose is a privately owned investment manager that provides financial planning services and portfolio management for businesses and institutional clients. Diversify Wealth Management provides investment advisory services and is based in Sandy.
1/9/2024 Quincy Compressor LLC acquired Hycomp Inc. The terms of the transaction were not disclosed. Based in Hyde Park, Hycomp designs, produces, sells, and services specialized high-pressure oil-free compressors and boosters for various industries.
1/11/2024 Graphium Health, LP acquired ABG Anesthesia Data Group, LLC. The terms of the transaction were not disclosed. Graphium develops cloud computing platforms for hospitals, surgery centers, and private practices and is based in Draper.
1/17/2024 Leavitt Group Insurance Agency of Vernal, Inc. acquired a book of business from Alera Group, Inc. The terms of the transaction were not disclosed. Based in Vernal, Leavitt offers insurance brokerage services for home insurance, car insurance, and business insurance to the oil and gas industry.
1/18/2024 Myriad Genetics, Inc. (NasdaqGS:MYGN) agreed to acquire select assets from Intermountain Precision Genomics. The terms of the transaction were not disclosed. Intermountain provides clinical oncology laboratory services and is based in Saint George. Myriad is a genetic testing and precision medicine company based in Salt Lake City.
1/23/2024 Phlebotomy Training Specialists, LLC acquired Classward, LLC. The terms of the transaction were not disclosed. Based in Lehi, Phlebotomy offers post-secondary education, training, and certification in the healthcare sector. Willkie Farr & Gallagher LLP served as legal advisor to Phlebotomy.
1/24/2024 Convenient Brands, LLC acquired West-Est, LLC. The terms of the transaction were not disclosed. Based in Draper, Convenient develops a business technology platform that offers a range of payment processing and enterprise solutions.
1/29/2024 JobNimbus, LLC acquired SumoQuote. The terms of the transaction were not disclosed. Based in Lehi, JobNimbus develops an online application based on project management and CRM software that serves contractors and business owners in the home services industry.
Private Placements
1/3/2024 Breeze Aviation Group, Inc., dba Breeze Airways, announced that it will receive $140.0 million in funding. As of 1/12/2024, the company has received $20.0 million in its first tranche from 5 investors. Breeze operates as a commercial airline and is based in Cottonwood Heights.
1/10/2024 Fullcast, Inc. announced that it has raised $34.0 million in a round of funding led by returning investor EPIC Ventures with participation from Sepio Capital, LP, True Blue Partners, LLC, and other investors. Based in Salt Lake City, EPIC is a private equity and venture capital firm based in Salt Lake City. Sepio is a privately owned investment manager based in Salt Lake City.
1/17/2024 PredictAp, Inc. announced that it has raised $8.0 million in a round of funding led by new investor RETV Management LLC with participation from new investor Wise Ventures. RETV is a venture capital firm based in Park City.
1/17/2024 Neighbor Storage, Inc. announced that it will receive $30.0 million in funding. As of 1/23/2024, the company has received $6.0 million in its first tranche from 3 investors. Neighbor owns and operates a peer-to-peer self-storage marketplace and is based in Lehi.
1/23/2024 Purple Innovation, Inc. (NASDAQ:PRPL) announced that it has completed a refinancing that includes a consolidated term loan of $61.0 million, providing approximately $21.0 million of additional capital after expenses and an option for another incremental term loan of up to $19.0 million, subject to terms of the agreement. Based in Logan, Purple manufactures and sells mattresses, bed frames, pillows, sheets, and cushions.
1/25/2024 2GHealth Inc. announced that it has received $5.7 million in a round of funding led by Meridian Street Capital and B Capital Group Management, L.P. with participation from CoFound Partners, LLC, Primetime Partners Management Company, LLC, and other investors. CoFound is a venture capital firm based in Salt Lake City.