Utah Deal Intelligence - December 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
12/2/2024 Weber LLC agreed to acquire Blackstone Products. The terms of the transaction were not disclosed. Blackstone manufactures outdoor kitchen equipment and is based in Logan.
12/9/2024 Clarus Corporation (NasdaqGS:CLAR) acquired the assets of RockyMounts, Inc. The terms of the transaction were not disclosed. Clarus designs, develops, manufactures, and distributes outdoor equipment and lifestyle products and is based in Salt Lake City.
12/9/2024 Avflight Corporation acquired Kemp Jet Services, LLC. The terms of the transaction were not disclosed. Based in Ogden, Kemp operates as a fixed base operator that offers fueling services, spacious hangar facilities, flight-officer amenities, and other airport services.
12/10/2024 Alianza, Inc. agreed to acquire Metaswitch Networks Ltd. from Microsoft Corporation (NasdaqGS:MSFT). The terms of the transaction were not disclosed. Alianza develops a cloud-native, carrier-grade communications platform for service providers, including cable operators, mobile operators, telephone companies, and other broadband providers and is based in Pleasant Grove.
12/10/2024 Trucordia acquired the insurance business of Archibald Insurance. The terms of the transaction were not disclosed. Trucordia operates as an insurance brokerage company and is based in Lehi.
12/16/2024 Jackson Group acquired Peterbilt of Wyoming Inc. The terms of the transaction were not disclosed. Jackson operates as a truck dealer and is based in Salt Lake City.
12/17/2024 Trucordia acquired the insurance business of Richard King Insurance Agency. The terms of the transaction were not disclosed. Trucordia operates as an insurance brokerage company and is based in Lehi.
12/20/2024 BearCom Group, Inc. acquired Stone Security LLC. The terms of the transaction were not disclosed. Stone provides professional, enterprise class, and physical security products and services and is based in Salt Lake City. Buchalter PC served as legal advisor to Stone.
12/23/2024 USANA Health Sciences, Inc. (NYSE:USNA) acquired 78.85% stake in Hiya Health Products LLC for $205.0 million. USANA develops, manufactures, and sells science-based nutritional, personal care, and skincare products and is based in Salt Lake City. Wilson Sonsini Goodrich & Rosati, P.C. served as legal advisor to USANA.
Private Placements
12/4/2024 Tuskira, Inc. announced that it has received $28.5 million in its round of funding co-led by new investors Intel Capital Corporation and SYN Ventures with participation from new investors Sorenson Capital, Wipro Ventures Ltd, Rain Capital, and others. Sorenson is a private equity and venture capital firm based in Lehi.
12/10/2024 Becklar, LLC announced that it has received a round of funding led by new investor Graham Partners, Inc. Becklar offers a complete integrated suite of connected personal health and safety solutions and workforce safety technologies for enterprises and individuals and is based in Ogden. Choate served as legal advisor to Becklar.
12/16/2024 Chargezoom Inc. announced that it has received $11.5 million in funding led by new investor Kickstart Seed Fund with participation from ADLY Inc., Appletree Capital Ltd., Early Light Ventures, Motley Fool Ventures Management LLC, and other investors. Chargezoom owns and operates an integrated customer payments management platform and is based in Holladay. Kickstart is a private equity and venture capital firm based in Cottonwood Heights.
12/18/2024 Bureau, Inc. announced that it has received $30.0 million in a round of funding co-led by new investors Sorenson Capital and PayPal Ventures, Inc. with participation from Commerce Ventures Management, LLC, GMO Venture Partners, Inc., Village Global Management, and other investors. Sorenson is a private equity and venture capital firm based in Lehi.
12/31/2024 Torus, Inc. announced that it has received funding in a transaction that included participation from new investor Mercato Partners, LLC. Torus develops a torus station that stores and manages renewable energy and is based in South Salt Lake. Mercato is a private equity and venture capital firm based in Cottonwood Heights.
12/31/2024 Celtic Bank Corporation entered into an investment agreement to acquire 8.76% stake in American Savings Bank, F.S.B. from ASB Hawaii, Inc. for $39.4 million. Celtic operates as a bank and diversified specialty lender and is based in Salt Lake City.