Utah Deal Intelligence - February 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

2/1/2024 Gebruder Weiss, Inc. acquired Cargo Link International Inc. The terms of the transaction were not disclosed. Based in Salt Lake City, Cargo Link offers air freight and ocean freight forwarding services to shippers and consignees.

2/1/2024 Comfort Systems USA, Inc. (NYSE:FIX) acquired J & S Mechanical Contractors, Inc. The terms of the transaction were not disclosed. J & S provides mechanical construction services to commercial and industrial sectors throughout the Mountain West and is based in West Jordan.

2/1/2024 SkyWest, Inc. (NasdaqGS:SKYW) acquired an additional 15.1% stake in Corporate Flight Management, Inc. for $15.1 million. Based in Saint George, SkyWest operates a regional airline in the United States and leases regional jet aircraft and spare engines to third parties.

2/6/2024 Orthopedic Care Partners Holdings, LLC acquired The Orthopedic Partners. The terms of the transaction were not disclosed. The Orthopedic Partners provides orthopedic treatment services and is based in Park City.

2/6/2024 EP Wealth Advisors, LLC acquired Parker Advisory Group, LLC. The terms of the transaction were not disclosed. Based in Saint George, Parker provides financial planning and investment advisory services to individuals and small businesses.

2/6/2024 OptConnect, LLC acquired M2M DataGlobal. The terms of the transaction were not disclosed. OptConnect provides wireless connectivity solutions for ATMs in the United States and is based in Kaysville. Taft Stettinius & Hollister LLP served as legal advisor to OptConnect.

2/6/2024 Somafina acquired UST Corp. The terms of the transaction were not disclosed. Based in Layton, UST manufactures and markets over-the-counter vitamin and dietary supplements for small and large companies.

2/7/2024 Victaulic Company acquired Utility Coatings & Fabrication, Inc. The terms of the transaction were not disclosed. Utility provides steel fabrication and coating solutions for industrial applications and is based in West Jordan.

2/8/2024 JC Pro Design, LLC acquired Small Lake City Promo, LLC. The terms of the transaction were not disclosed. Small Lake is a promotional products company based in Sandy. Based in Murray, JC is a custom print shop specializing in screen printing, embroidery, and promotional products.

2/9/2024 Swire Pacific Holdings, Inc., dba Swire Coca-Cola, USA, acquired a 49% stake in ThaiNamthip Manufacturing Limited. The terms of the transaction were not disclosed. Based in Draper, Swire produces, sells and distributes Coca-Cola and other beverages in 13 states across the American West.

2/13/2024 Everyday Driver, LLC acquired Hooked On Driving, LLC. The terms of the transaction were not disclosed. Based in Park City, Everyday Driver engages in the production of car TV shows, feature film documentaries, and podcasts.

2/13/2024 Catalyst Acoustics Group acquired Real Acoustix LLC. The terms of the transaction were not disclosed. Based in Ogden, Real Acoustix develops and manufactures custom acoustical wood and architectural interior products.

2/15/2024 NowCerts, LLC acquired 20Miles, Inc. The terms of the transaction were not disclosed. NowCerts provides an insurance agency management system that offers solutions to insurance professionals and is based in Salt Lake City.

2/16/2024 InsideRE, LLC acquired Amitree, Inc. The terms of the transaction were not disclosed. InsideRE, also known as 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.

2/19/2024 Village Pet Care, LLC announced that it recently acquired Sandy Hill Kennels, Inc. The terms of the transaction were not disclosed. Based in Park City, Village operates a chain of pet care centers that provide boarding, daycare, grooming, and training services.

2/22/2024 Remodel Health acquired PeopleKeep, Inc. The terms of the transaction were not disclosed. Based in Salt Lake City, PeopleKeep provides an online employee benefits platform for small businesses.

2/22/2024 Capital Community Bank agreed to acquire Security Home Mortgage, LLC. The terms of the transaction were not disclosed. Security is a provider of home mortgage solutions and is based in Orem. Capital is a locally-owned community bank with branch offices located in St. George, Salem, Provo, Orem, Pleasant Grove, and Sandy.

2/23/2024 United Ocular, LLC acquired Eye Prosthetics of Utah, Inc. The terms of the transaction were not disclosed. Based in Salt Lake City, Eye Prosthetics is a local practice that provides custom ocular prosthetics to those who have lost an eye to trauma, accidents, or illnesses. United Ocular provides fitting, creating, and maintaining eye prostheses and is based in Midvale.

2/26/2024 Guild Holdings Company (NYSE:GHLD) acquired the retail lending assets of Academy Mortgage Corporation for $13.4 million. Academy is a mortgage banking and brokerage company based in Draper.

2/27/2024 FranConnect, LLC acquired Steton Technology Group, Inc., dba RizePoint. The terms of the transaction were not disclosed. Based in Salt Lake City, RizePoint is a provider of quality management systems serving global restaurant, retail, and hospitality brands.

2/28/2024 Ally Waste Services, LLC acquired RK Property Services, L.L.C. The terms of the transaction were not disclosed. RK provides waste maintenance services and is based in Salt Lake City.

M&A - Financial

2/12/2024 The Buy Build Fund acquired Prints of Love LLC. The terms of the transaction were not disclosed. Prints of Love is a print marketplace specializing in creating high-quality, personalized printed products and is based in Salt Lake City.

2/14/2024 Cotiviti announced that it entered into a definitive agreement to recapitalize the business with affiliates of its long-standing partner Veritas Capital and investment funds managed by KKR. Under the agreement, KKR and Veritas will become co-sponsors with equal ownership stakes in Cotiviti. Cotiviti designs and develops a healthcare analytics, measurement, and reporting software and is based in South Jordan.

Private Placements

2/6/2024 Platform Accounting Group announced that it has raised $85.0 million in an equity round of funding led by new investor The Cynosure Group with participation from returning investors Swell Capital and Peery Partners. Platform offers enterprise-grade resources, capabilities and support to local accounting and professional services teams and is based in Salt Lake City. Cynosure is a private equity firm based in Salt Lake City.

2/8/2024 SokyaHealth announced that it has raised $18.0 million in a round of funding co-led by new investors Matrix Management Corporation and EPIC Ventures. EPIC is a private equity and venture capital firm based in Salt Lake City.

2/20/2024 Xevant, Inc. raised $7.6 million in a round of funding from HCAP Partners, LLC, Tech Council Ventures, and other investors. Based in Lehi, Xevant develops and operates healthcare analytics and technology platforms.

2/20/2024 Avrio Worldwide PBC announced that it has completed a round of equity funding that included participation from new investor Diamond Lake Minerals, Inc. (OTCPK:DLMI), with a 25% stake. Based in Salt Lake City, Diamond specializes in the development and support of digital assets and SEC-registered security tokens.

2/21/2024 Conservation Labs, Inc. announced that it has received $7.5 million in a round of funding led by new investor Housing Impact Fund, a fund managed by returning investor RETV Management LLC, with participation from new investor SustainVC, LLC. RETV is a venture capital firm based in Park City.

2/22/2024 Luminous Software Solutions Inc. announced that it has received funding in a transaction that included participation from new investor Peterson Ventures, LLC. Luminous designs and develops supply chain management tools and is based in Lehi. Peterson is a venture capital firm based in Salt Lake City.

2/26/2024 b.well Connected Health, Inc. announced that it has received $40.0 million in its Series C funding round led by Leavitt Equity Partners, a healthcare focused private equity firm based in Salt Lake City.

2/29/2024 Owlet, Inc. (NYSE:OWLT) announced that it has closed its private placement transaction for gross proceeds of $9.3 million. Owlet provides digital parenting solutions and is based in Lehi.

2/29/2024 Project One Nutrition, Inc, dba Momentous, announced that it has completed a round of funding that included participation from new investor Humble Growth. Momentous manufactures and sells nutritional supplements and is based in Park City. Foley & Lardner LLP served as legal advisor to Momentous.