Private Equity-Backed Acquisitions in Utah

The Cynosure Group acquired Park City-based Utah Development and Construction and reorganized it into a newly established development platform jointly owned with Clyde Capital Group, a subsidiary of Clyde Companies. The joint venture, operated by Cynosure Elevations and Clyde Capital Group, will focus on hospitality and mixed-use resort projects across the Intermountain West to scale development efforts in high-growth resort markets.

The Riverside Company has made a growth investment in Western Botanicals, a Spanish Fork, Utah-based contract development and manufacturing organization (CDMO) of vitamins, minerals and supplements. Riverside will partner with management — which retains a meaningful ownership stake — to support organic growth, expand product and format capabilities, and pursue an M&A strategy to broaden Western Botanicals' capabilities.

Accela, a provider of cloud software for local and state governments, has acquired Novotx, a GIS-native infrastructure asset and work management software provider. The acquisition expands Accela's Civic Platform to support the full lifecycle of public infrastructure — from planning and permitting through operations, maintenance, and long‑term asset stewardship — and will integrate Novotx's GIS-native capabilities for asset, work order, and field operations management.

Pavement Preservation Group (PPG), a portfolio company of The Sterling Group, acquired Holbrook Asphalt, LLC and Integrated Pavement Solutions, LLC to expand its national pavement preservation platform. The deal broadens PPG’s geographic footprint across the Intermountain West, Southwest and Southern United States and adds IPS’s HA5 product line and related preservation capabilities to the platform.

Zelis, a Boston-based healthcare payments technology company, has acquired Rivet, an AI-enabled revenue cycle analytics provider. The acquisition brings Rivet's analytics and dashboards into Zelis' platform to improve claims payment transparency, reduce denials and administrative burden for providers, and enhance payer-provider collaboration.

A syndicate of global investors led by Snapdragon Capital Partners, with financing provided by funds managed by Strategic Value Partners (SVP), has acquired Better Being Co. HGGC has sold its remaining stake and exited the business after an eight-year partnership; the new investors committed a financial reserve to support near-term acquisitions to expand Better Being's brand portfolio and global reach. Better Being, a vertically integrated manufacturer and marketer of dietary supplements and personal care brands (including Solaray and Zhou Nutrition), is headquartered in Utah and employs nearly one thousand people.

Jensen Hughes, a Gryphon Investors-backed global engineering and consulting firm, has acquired Safety Management Services, Inc. (SMS), an energetic materials and process safety engineering and testing firm headquartered in West Jordan, Utah. The deal expands Jensen Hughes' capabilities in process safety, energetic materials testing and related risk-management services and will be integrated into its broader global platform.

Pronto, a Lehi, Utah–based secure, mobile-first team communications platform, received a significant minority growth investment from SEVA Growth LP. The capital will be used to accelerate sales, expand Pronto's customer footprint, and develop new product functionality and integrations; SEVA founder Shalin Mehta will join Pronto's board.

Apex Companies, LLC has acquired Forsgren Associates, Inc., a multi-discipline civil engineering, environmental sciences, and land surveying firm serving the Intermountain West. The deal adds deep engineering capabilities and expands Apex's operational presence across the Rockies and Pacific Northwest as Forsgren will operate as Forsgren, an Apex Company.

Twin Star Home, a Z Capital Group-backed omnichannel home furnishings platform, acquired Walker Edison’s assets after Walker Edison filed for Chapter 11 and Twin Star emerged as the successful bidder in a court‑supervised auction. The deal will integrate Walker Edison’s e-commerce capability and design pipeline into Twin Star Home to expand omnichannel reach, sourcing, and distribution across multiple product categories.

Filevine, a Salt Lake City–based legal operating intelligence SaaS provider, raised $400 million in an all-equity growth financing led by Insight Partners with Accel and Halo Fund co-leading and participation from Meritech, StepStone, Run Ventures and Album Ventures. The new capital will be used to scale Filevine’s product, deepen AI capabilities, and accelerate go-to-market expansion across law firms, government agencies and enterprise legal teams.

Accel‑KKR has acquired a majority stake in Arbiter, a Sandy, Utah‑based provider of athletic and school operations management software. Serent Capital, which partnered with Arbiter in 2017, will retain a minority equity position; the investment is intended to accelerate product innovation, expanded services, and scale across the K‑12 and youth sports market.

Amplēo, a Lehi, Utah-based provider of fractional finance, marketing and HR services backed by private equity, has acquired Avalaunch Media, a Utah-based digital marketing agency known for SEO, paid media, content and fractional CMO services. Avalaunch's leadership will remain in place, with cofounder David Mink serving as president of Amplēo Marketing as the combined business expands Amplēo's embedded marketing capabilities for SMB and scaling clients.

Rockwood Equity Partners has acquired ZERO Manufacturing, a designer and manufacturer of aluminum and molded-plastic protective cases, enclosures, components and sub-assemblies. Rockwood will partner with ZERO's leadership to expand production capabilities, pursue strategic add-on acquisitions, and drive growth across ZERO's end markets including aerospace, medical, industrial, energy, logistics and datacom.

Platte River Equity, a Denver-based private equity firm, has acquired Chemtech-Ford Laboratories (Chemtech), an environmental and analytical testing provider based in Sandy, Utah. Platte River said it will use Chemtech as a foundation to build a platform in environmental testing—investing in capabilities and expanding the company's footprint to serve municipal, industrial, and government clients.

Thorpe Specialty Services, a KLH Capital–backed industrial services platform, has acquired Streamline Industrial Services, LLC of Salt Lake City, Utah. The add-on expands Thorpe’s geographic footprint into the Mountain West and specialty minerals & mining end market while adding refractory, corrosion, fireproofing, specialty coatings, and mechanical capabilities to its service offering.

Nwestco, a Denver-based provider of fuel and car wash equipment and services owned by Guardian Capital Partners, has acquired Petro West, a fuel services and equipment provider serving Utah, Nevada and Arizona. The deal closed July 31, 2025 with terms not disclosed and is intended to expand Nwestco's presence and capabilities in the Intermountain region.

Gridiron Capital has acquired Greenix, a leading independent eco-conscious residential pest control company headquartered in Orem, Utah. The acquisition from Riata Capital Group will expand Gridiron's residential services platform and support Greenix's continued geographic growth and M&A-driven expansion across North America.

HeroDevs raised $125 million in a strategic growth investment led by PSG with participation from existing investor Album. The funding will be used to expand HeroDevs' Never-Ending Support solutions and includes a $20 million commitment to an Open Source Sustainability Fund to support end-of-life open-source projects.

Bain Capital North American Private Equity has acquired Sizzling Platter, LLC — a Salt Lake City–based restaurant franchise growth platform — from CapitalSpring. The transaction will support Sizzling Platter's expansion of its multi-brand fast-casual and quick-service portfolio (including Little Caesars, Wingstop, Jersey Mike's, Dunkin', and Jamba) and accelerate unit growth and operational capabilities; financial terms were not disclosed.

Banneker Partners has made a growth investment in Kuali to accelerate the company's platform strategy and expand its suite of higher-education software solutions. The capital will support Kuali's product roadmap across research, academics, operations, and finance while enabling continued service to its more than 230 institutional customers.

CenterOak Partners, a Dallas-based private equity firm, has completed a majority recapitalization of NOW CFO, a Salt Lake City-based provider of outsourced finance and accounting services focused on SMB clients. CenterOak will support NOW CFO's growth by investing in technology, business development and client engagement and by expanding the company's geographic reach and service offerings; terms were not disclosed.

Unity Partners, a Dallas-based private equity firm, completed a strategic growth investment in Amplēo, a Lehi/Salt Lake City-area provider of fractional finance, marketing and HR managed professional services. Amplēo management and Brooks Growth Partners partnered in the transaction; terms were not disclosed. Unity said it will support Amplēo’s M&A-driven platform build, technology and people investments and launch an employee purpose/ownership plan.

Averra Holdings, a portfolio company of Banner Capital, has announced a partnership to bring ZIEN Medical Technologies into the Averra family. ZIEN, a Salt Lake City–based medical device contract design & manufacturing organization, will integrate with Averra to expand turnkey packaging design, manufacturing, sterilization and regulatory capabilities; terms were undisclosed.

Metropolitan Partners Group committed $60 million to Nexus IT, a Salt Lake City–based managed services and cybersecurity provider, in partnership with Diatonic Healthcare. The capital will be used to accelerate Nexus IT’s nationwide expansion via founder-led, values-aligned acquisitions of culturally compatible MSPs and MSSPs, particularly in regulated industries like healthcare, finance, and legal.

The Carlyle Group's Global Credit platform will make a $1.3 billion strategic investment in Trucordia, valuing the insurance brokerage at $5.7 billion. The transaction will reduce Trucordia's leverage, repurchase units from existing minority investors, simplify governance, and provide capital flexibility to support growth.

Merit Financial Advisors, a Georgia-based wealth management firm, has acquired RCM Investments of American Fork, Utah, adding $281 million in assets and establishing Merit's first office in Utah. The four principals of RCM will join Merit as wealth managers and partners; financial terms were not disclosed.

EagleTree Capital has made a strategic growth investment in NuTrail, a nut-based, low-sugar granola brand. As part of the investment, Sheila Stanziale was named CEO and will partner with co-founders Ilya and Roni Avshalumov to accelerate the company's growth; terms were not disclosed. EagleTree will support NuTrail's next phase of scaling and distribution expansion.

Catalis Dental Lab Partners, a PE-backed national dental lab platform, has acquired Revolution Dental Lab in Sandy, Utah and opened a new East Coast digital design center in Jacksonville, Florida. The deal — supported by sponsor Caymus Equity — expands Catalis’ national footprint and adds local capacity in the Western U.S. while increasing digital design support for customers on the East Coast.

Entrata, a Lehi, Utah-based property management operating system, received a $200 million minority investment from funds managed by Blackstone at a $4.3 billion valuation. The growth capital will support Entrata's expansion of its platform and product capabilities for property managers and residents.

TMA, a Main Capital Partners-backed Dutch talent management software company, has acquired DecisionWise, a U.S.-based provider of cloud-based employee feedback, engagement and 360-degree feedback solutions. The deal creates a cross-Atlantic talent management player, expanding TMA’s product offering and North American presence while combining complementary employee experience and talent management capabilities.

Press Ganey Forsta has acquired InMoment to combine their customer experience (CX) technologies and accelerate AI and NLP-driven capabilities across industries. The deal brings together Press Ganey Forsta's HX platform and InMoment's conversational intelligence and reputation management to expand cross-industry expertise and deliver deeper, data-driven insights for clients.

An affiliate of Corinthian Capital Group, in partnership with Valesco Industries, has acquired a majority interest in Trimlight, Inc., a West Jordan, Utah-based pioneer in permanent exterior LED lighting. The transaction was structured as a majority recapitalization to support Trimlight's growth — the company sells through a network of more than 300 exclusive dealers across the United States and Canada; FS Investments provided debt financing and D.A. Davidson acted as Trimlight's financial advisor.

Select Portfolio Servicing (SPS), a Salt Lake City-based mortgage servicer with over $200 billion in UPB and ~900,000 loans serviced, has been acquired by a consortium led by Sixth Street and including Davidson Kempner Capital Management. The new owners said they will invest in SPS to build and differentiate the company’s servicing capabilities and support future growth.

Woodland Gourmet, a Graham Partners portfolio company, has acquired Sevillo Fine Foods, a Salt Lake City-based maker of chef-inspired ready-to-eat frozen ingredients. Barings led incremental financing to support the add-on acquisition, which expands Woodland's product portfolio and value‑add capabilities across foodservice, retail, and industrial channels.

Ntracts, a healthcare-focused contract lifecycle management (CLM) provider, has acquired Compliatric, a regulatory, accreditation and compliance management technology for healthcare organizations. The acquisition expands Ntracts' capability set for administrative compliance and accreditation management and is the company's first deal since receiving majority backing from Accel‑KKR in 2023; terms were not disclosed. Healthcare Growth Partners served as exclusive financial advisor to Compliatric.

LongRange Capital, a Stamford-based private equity firm, has completed the acquisition of US Synthetic Corporation from ChampionX. US Synthetic, headquartered in Orem, Utah, is a leading manufacturer of polycrystalline diamond (PCD) inserts, bearings and related diamond-technology products serving energy, mining and industrial end markets; the deal positions the company to operate as a standalone business under LongRange's ownership.

CaseWorthy, a Salt Lake City-based social and human services case management platform backed by private equity firm STG, has acquired Eccovia, a software and services provider of case management and data analytics for health and human services. The deal creates one of the largest purpose-built case-management platform companies by combining complementary capabilities—expanding CaseWorthy's platform to support additional workflows such as homeless Continuum of Care and broader care coordination.

The Thermal Group, a Behrman Capital portfolio company, acquired Applied Composite Technology Aerospace, LLC (ACT), a Gunnison, Utah-based manufacturer of advanced composite structures for the aerospace and defense markets. The add-on expands TTG's engineered solutions by adding composite design and manufacturing capabilities to enable cross-selling and support long-term growth; financial terms were not disclosed.

Sorenson, a leading provider of communications solutions for Deaf and hard-of-hearing people, acquired OmniBridge (an Intel internal venture) and Brazilian AI sign-language translation company Hand Talk to accelerate development of automated sign-language translation capabilities. The deals add complementary AI recognition and avatar-based generation technologies and teams to Sorenson’s existing video-relay and interpretation platform to expand its AI-driven accessibility offerings.

Bridges Consumer Healthcare, a Charlesbank-backed consumer healthcare platform, has acquired KT Tape, the leading kinesiology tape and recovery products brand, from Palladin Consumer Retail Partners. The add-on expands Bridges' OTC pain-relief portfolio and positions KT Tape for additional investment in demand generation, product innovation and omnichannel distribution; terms were not disclosed.

Numantec has acquired Health Line International Corp., a Salt Lake City-based manufacturer of vascular access catheters, infusion therapy products, and infection control devices. The deal strengthens Numantec's global medical device platform, accelerates its expansion into the US market, and retains the Faulkner family as partial reinvestors while maintaining Health Line's core management team.

Vision Graphics, in partnership with private equity firm Banner Capital Management, acquired Queen of Wraps, a Utah-based commercial vehicle wrap and large-format graphics provider. Queen of Wraps will operate as a wholly-owned subsidiary of Vision Graphics with founders Bryan Griffith and the Griffith family remaining significant owners; the deal is intended as an add-on to the Vision Graphics platform to expand vehicle-wrap capabilities and accelerate geographic growth.

BearCom has acquired Stone Security, a Salt Lake City–based provider of enterprise physical security products and services, adding more than 225 technical staff and a footprint across the U.S., Mexico and Brazil to BearCom’s security solutions portfolio. The deal, announced Dec. 20, 2024, expands BearCom’s video surveillance and access control capabilities and is the company’s second acquisition since Siris’ 2023 investment.

Quality Collision Group (QCG), a McKinney, Texas-based MSO backed by Susquehanna, has acquired Auto Crafters Auto Body & Paint in Layton, Utah. The family-run, I-CAR Gold Class certified shop will join QCG's growing portfolio as the company expands its presence in Utah.

Graham Partners has acquired Becklar LLC, a tech‑enabled provider of connected safety, monitoring and emergency response solutions headquartered in Ogden, Utah. Becklar management and existing sponsor BV Investment Partners rolled substantial stakes into the transaction while Graham becomes the new lead investor; financial terms were not disclosed and the deal closed in early December 2024.

Wind Point Partners, a Chicago-based private equity firm, has completed a corporate carveout and acquired Velocity Rail Solutions, a provider of mission-critical locomotive services across North America. Wind Point will partner with Velocity management to invest in organic growth and pursue strategic add-on acquisitions to expand the company's rail-related services.

Thermal Product Solutions LLC (TPS), a New Columbia, Pennsylvania-based thermal-processing equipment manufacturer, has acquired Redline Chambers, a Clearfield (Salt Lake City), Utah-based maker of vacuum chambers and systems. The purchase expands TPS’s vacuum chamber and test-systems capabilities to better serve aerospace, defense, medical and electronics customers as part of its family of thermal processing and test brands.

Investment funds managed by KKR, with participation from Dragoneer Investment Group, acquired Instructure Holdings, Inc. in an all-cash transaction at $23.60 per share, valuing the company at approximately $4.8 billion. Instructure will become privately held and remain headquartered in Salt Lake City as KKR supports product innovation, global expansion and continued investment in the Canvas and Parchment products.

Sumeru Equity Partners has made a $330 million control investment to acquire JobNimbus, a Lehi, Utah–headquartered SaaS provider for roofing and exterior contractors. The funding — supported by a senior credit facility arranged by Monroe Capital — will be used to scale product development (including AI features), expand the team, and accelerate growth; existing investors and founders will remain on the cap table and Sumeru will join the board.