Utah Deal Intelligence - November 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
11/1/2024 PACS Group, Inc. (NYSE:PACS) acquired 8 skilled nursing facilities in Pennsylvania. 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.
11/12/2024 Inszone Insurance Services, Inc. acquired L.A. Bowen Insurance Agency, Inc. The terms of the transaction were not disclosed. L.A. Bowen operates as an independent insurance agency and is based in Orem.
11/13/2024 HUB International Limited acquired assets of R.K. Gore & Associates. The terms of the transaction were not disclosed. R.K. operates as an insurance company offering insurance solutions for the residential construction industry and is based in Lehi.
11/14/2024 SalesRabbit acquired RoofLink. The terms of the transaction were not disclosed. SalesRabbit develops cloud-based sales enablement software for satellite retailers and is based in Lehi.
11/20/2024 Trucordia acquired the insurance business of The DeLuca Agency and Denver Insurance Brokerage. The terms of the transaction were not disclosed. Trucordia operates as an insurance brokerage company and is based in Lehi.
11/27/2024 WellRX acquired Bioreach Laboratories, LLC. The terms of the transaction were not disclosed. Bioreach operates as a bloodwork and genetics laboratory and is based in Draper.
M&A - Financial
11/6/2024 Health Catalyst, Inc. (NasdaqGS:HCAT) agreed to acquire Intraprise Health, LLC for $42.1 million. Health Catalyst provides data and analytics technology and services to healthcare organizations and is based in South Jordan.
11/25/2024 Wind Point Advisors, LLC acquired Velocity Rail Solutions. The terms of the transaction were not disclosed. Velocity provides mission-critical locomotive services to the rail industry and is based in Draper.
Private Placements
11/13/2024 Stepful, Inc. announced that it has received $31.5 million in its Series B round of funding led by new investor Oak HC/FT Management Company, LLC with participation from Intermountain Ventures, Cedar Pine, LLC, ECMC Group Education Impact Fund, Y Combinator Management, and other investors. Intermountain is a private equity and venture capital arm of Intermountain Healthcare and is based in Salt Lake City.
11/13/2024 JobNimbus, LLC announced that it has raised $330.0 million in a round of funding that included participation from Sumeru Equity Partners, LP, Mainsail Management Company, LLC, and other investors. JobNimbus develops an online application based on project management and CRM software and is based in Lehi.
11/21/2024 Polaris Modular announced that it has received $6.3 million in its Series A round of funding co-led by new investors Sentry Financial Corporation and HSL Properties Financial Corp. Polaris manufactures and distributes prefabricated modular units for the construction industry and is based in West Jordan. Sentry is a private equity firm based in Salt Lake City.
11/22/2024 Leavitt Group Enterprises, Inc. announced that it has received $240.9 million in funding from Capital Z Partners Management, LLC. Leavitt provides insurance brokerage services and is based in Cedar City.