Utah Deal Intelligence - May 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

5/1/2024 PCF Insurance Services acquired the insurance businesses of Encore Advisors and All Star Insurance. The terms of the transactions were not disclosed. PCF is an insurance brokerage company based in Lehi with operations in about 40 states.

5/1/2024 Versaterm Inc. acquired Mindbase, LLC. The terms of the transaction were not disclosed. Mindbase designs and develops a mental health and wellness platform and is based in Logan.

5/1/2024 Savage Services Corporation acquired Texon LP. The terms of the transaction were not disclosed. Savage provides supply chain solutions to businesses in North America and internationally and is based in Midvale. Kirkland & Ellis LLP served as legal advisor to Savage.

5/1/2024 The Pennant Group, Inc. (NasdaqGS:PNTG) acquired South Davis Community Hospital, Inc. The terms of the transaction were not disclosed. South Davis owns and operates a hospital that provides healthcare services for individuals and families and is based in Bountiful.

5/3/2024 An unknown buyer acquired V.O. Brothers Mechanical, LLC. The terms of the transaction were not disclosed. V.O. provides plumbing, mechanical, and process installation services and is based in Ogden.

5/7/2024 Eurobio Scientific Société anonyme (ENXTPA:ALERS) agreed to acquire the EndoPredict business of Myriad Genetics, Inc. (NasdaqGS:MYGN) for $10.0 million. Myriad is a genetic testing and precision medicine company based in Salt Lake City.

5/7/2024 Rubicon Bakers LLC acquired Lucky Spoon Bakery. The terms of the transaction were not disclosed. Lucky Spoon bakes cupcakes, cookies, and muffins and is based in Salt Lake City.

5/8/2024 Everwash Inc. acquired Coinless, LLC. The terms of the transaction were not disclosed. Coinless develops an application that connects customers with car washes by offering a digital payment solution through smart phones and is based in Salt Lake City.

5/9/2024 Continental Finance Company LLC acquired the Today Card Portfolio from Elevate Credit, Inc. and Capital Community Bank. The terms of the transaction were not disclosed. Capital Community Bank is a locally-owned community bank based in Provo with branch offices located in St. George, Salem, Provo, Orem, Pleasant Grove, and Sandy.

5/13/2024 EasyKnock, Inc. acquired the assets of HomePace Inc. The terms of the transaction were not disclosed. HomePace helps homeowners access their equity through home equity agreements and is based in Park City. Goodwin Procter LLP served as legal advisor to EasyKnock and HomePace.

5/15/2024 IRIS Software Group Limited acquired MC2 Consulting Services, Inc., dba Swipeclock. The terms of the transaction were not disclosed. Swipeclock provides timekeeping solutions to the payroll industry and is based in South Jordan. Paul Hastings LLP served as a legal advisor to Swipeclock.

5/20/2024 RDO Equipment Co. acquired Rocky Mountain Transit & Laser, Inc. The terms of the transaction were not disclosed. Rocky Mountain provides construction and surveying services and is based in Murray.

5/20/2024 CyberArk Software Ltd. (NasdaqGS:CYBR) agreed to acquire Venafi, Inc. for $1.5 billion. Venafi develops and operates machine identity management solutions and is based in Salt Lake City.

5/21/2024 Massey Services, Inc. acquired Ridd Pest Control, LLC. The terms of the transaction were not disclosed. Ridd provides residential pest, termite, mosquito, and rodent control services and is based in Lehi.

5/22/2024 PACS Group, Inc. (NYSE:PACS) agreed to acquire 53 skilled nursing and assisted/independent living facilities across 8 western states from Prestige Care, Inc. PACS, through its subsidiaries, operates skilled nursing facilities and assisted living facilities in the United States and is based in Farmington.

M&A - Financial

5/28/2024 2.0 Ventures acquired an unknown majority stake in Feat Clothing, Inc. 2.0 is a venture capital firm based in Salt Lake City.

Private Placements

5/20/2024 RegenETP, Inc. (OTCPK:RGTP.Q) received $12.5 million in a round of funding from institutional investors and current shareholders, and received $5.0 million in a senior secured credit facility from Avenue Venture Opportunities Fund, L.P., a fund managed by Avenue Capital Group, LLC. RegenETP is a clinical stage biotechnology company that develops and commercializes a range of regenerative tissue products and biomaterials for the fields of medicine, biomedical engineering, and material sciences and is based in Salt Lake City.

5/21/2024 Videra Health, Inc. announced that it has raised $5.6 million in a round of funding led by returning investor Peterson Ventures with participation from new investors Mercato Partners, LLC, Philo Ventures LLC, and EPIC Ventures. Videra develops and operates a remote patient monitoring video platform for behavioral health and is based in Orem. Peterson is a venture capital firm based in Salt Lake City. Mercato is a private equity and venture capital firm based in Cottonwood Heights. Philo is a startup studio, venture fund, and real estate development firm based in Lehi. EPIC is a private equity and venture capital firm based in Salt Lake City.

5/21/2024 Porch Financial, Inc. announced that it will receive $8.0 in funding. The transaction closed on 6/5/2024 with participation from one investor. Porch provides an insurance sales software platform and is based in Sandy.

5/24/2024 Canary Speech, Inc. announced that it will receive $13.0 million in funding. The transaction closed on 6/4/2024 with participation from Cortes Capital LLC, Sorenson Communications, LLC, SMK Corporation, Hackensack Meridian Health, Inc., and other investors. Canary develops digital healthcare and wellness solutions and is based in Provo. Sorenson provides videophones and software to deaf and hard-of-hearing individuals and is based in Salt Lake City.

5/24/2024 P3 Health Partners Inc. announced that it has raised $42.3 million in a transaction that included participation from Alyeska Investment Group, L.P., Armistice Capital LLC, Chicago Pacific Founders, Leavitt Equity Partners, and other investors. Leavitt is a private equity firm based in Salt Lake City.