Acquisitions in Utah in 2019

LABORIE Medical Technologies, a Patricia Industries portfolio company, has completed the acquisition of Clinical Innovations from funds managed by EQT for an enterprise value of $525 million. Clinical Innovations, headquartered in Salt Lake City, Utah, is a leading provider of single-use medical devices for labor & delivery and neonatal intensive care and will form a stand-alone Maternal and Child Health global business unit within LABORIE.

Southeastern Mills, Inc., a fourth-generation family-owned food ingredients company based in Rome, Georgia, has acquired JMH Premium, a Salt Lake City-based developer and manufacturer of flavor bases, gravies, marinades, dressings and other food ingredients. The acquisition expands Southeastern Mills' B2B food ingredients capabilities and adds custom flavor development and manufacturing capacity to its business-to-business foods segment.

HealthpointCapital’s Fund IV portfolio company, CrossRoads Extremity Systems, completed an add-on acquisition of multiple FDA-cleared implant and soft-tissue repair technology assets from Surgical Frontiers LLC, including the KATOR, OsteoPrecise, SpeedButton and Metrics product families. The purchase, which includes issued and pending U.S. patents, strengthens CrossRoads’ extremities product portfolio and supports cross-selling and capability expansion as part of HealthpointCapital’s strategy to build a market-leading orthopedic extremities platform.

iOFFICE, a provider of digital workplace and IWMS SaaS solutions, acquired ManagerPlus, a Utah-based asset and maintenance management SaaS provider. The acquisition expands iOFFICE's cloud-based asset management capabilities and forms part of a new Asset Management Division to broaden its IWMS offering.

Youngevity International, Inc. completed the acquisition of the assets of BeneYOU, LLC effective November 1, 2019. The deal brings BeneYOU’s brands — including Jamberry, Avisae and M.Global — and access to their distributor/customer database (reported as over 3 million) into Youngevity’s multi-channel lifestyle platform to enable cross‑marketing and expand its direct‑selling footprint.

Mammoth Holdings has acquired Wiggy Wash, a four-unit conveyor car wash operator in Utah Valley. Red Dog Equity (with backing from The Pritzker Organization) provided the equity financing and Monroe Capital provided debt; Wiggy Wash founders Brent Wignall and Chris Hailstone made a significant equity investment in Mammoth and will continue in executive and development roles as Mammoth expands in Utah and the Mountain West.

Clearlake Capital Group and TA Associates have completed a strategic growth investment in DigiCert, with the management team continuing to lead and investing alongside the new investors. The capital will be used to accelerate product development and automation of certificate management, expand DigiCert's PKI, TLS/SSL and IoT security offerings, and support organic and inorganic growth initiatives.

The Carlyle Group has completed a majority growth investment in HireVue, the Salt Lake City–based provider of AI-driven video interviewing and talent assessment software. Existing investors including Granite Ventures, Sequoia and TCV, along with HireVue management, remain minority shareholders as Carlyle backs the company's next phase of product innovation and global expansion.

Tower Arch Capital completed a recapitalization of SnugZ USA in partnership with SnugZ President and CEO Brandon Mackay. The transaction will support product innovation, expansion into additional promotional product segments, and pursue targeted add-on acquisitions to grow SnugZ's promotional products business.

Leeds Equity Partners has acquired VitalSmarts from TwentyEighty, Inc. VitalSmarts is a Provo, Utah–based provider of communication, execution and leadership development training, and the acquisition represents a platform investment to expand Leeds Equity's presence in the workplace learning and professional training sector. Terms were not disclosed.

Brightstar Capital Partners completed the acquisition of Capstone Nutrition, a developer and manufacturer of vitamins, minerals and dietary supplement products. The transaction was completed in partnership with members of Capstone’s senior management and is intended to accelerate growth into new markets and products while enhancing the company's R&D and manufacturing capabilities.

Emerald Textiles, a PE-backed healthcare linen and laundry services platform, acquired the assets of Staheli Laundry Services, a Saint George, Utah-based healthcare linen provider. The acquisition — Emerald's third add-on under Pacific Avenue Capital Partners and Highland Avenue Capital Partners — expands Emerald's footprint into Southern Utah and the Las Vegas market.

Lovell Minnick Partners has acquired Inside Real Estate (InsideRE Holdings, LLC), a provider of the kvCORE cloud-based real estate software platform, from NexPhase Capital. Terms were not disclosed; Inside Real Estate is a fast-growing SaaS provider serving brokerages, agents and teams across North America and will continue scaling its platform under Lovell Minnick.

Aftermarket Performance Group (APG) acquired Truck Tech, LLC from co-owners Royal Coburn and Eric Evans on August 16, 2019. The Salt Lake City business adds same-day and first-open-of-business next-day shipping capability and a dealership sales channel to APG's aftermarket distribution and will operate out of APG's Salt Lake City location; co-owner Royal Coburn joined APG to lead expedited shipping and dealership initiatives.

Boathouse Capital has completed a growth investment in Finch, a Salt Lake City–based paid digital media automation platform that leverages AI and machine learning to optimize paid search, display and shopping advertising. The capital will be used to drive sales and marketing and support general growth; Boathouse partner Bill Dyer will join Finch’s board to help scale the business.

HGGC sold a minority stake in Nutraceutical International Corporation to Snapdragon Capital Partners and The Maze Group, with a DWS-led investor group providing support. The investment is intended to accelerate Nutraceutical’s digital transformation and omnichannel growth while HGGC remains a significant partner; terms were not disclosed.

Sterile Processing Services of America (SPSA), a portfolio company of Pacific Avenue Capital Partners, acquired the assets of Novo Health Systems' Salt Lake City, Utah facility. The acquisition expands SPSA's off-site instrument and linen sterilization footprint on the West Coast and continues Pacific Avenue's strategy of building platform companies through corporate divestitures.

Summit Companies, a CI Capital Partners–backed fire and life safety platform, has acquired Chaparral Fire Protection, adding locations in Salt Lake City and St. George, Utah. The transaction is an add-on to Summit's roll-up strategy to increase geographic density across the Western U.S.

H.I.G. Growth Partners led a growth investment in MX Technologies as part of the company's $100 million Series B financing to accelerate product development, partnerships and hiring. MX, a Lehi, Utah-based fintech data platform serving banks, credit unions and fintechs, reached more than 2,000 customers and will use the proceeds to expand its market reach and capabilities.

Intercontinental Exchange, Inc. (ICE) completed the acquisition of Simplifile LC for $335 million. Simplifile — the largest e-recording network connecting lenders, settlement agents and county recording offices across the U.S. — will join ICE Mortgage Services to accelerate digital transformation of residential mortgage recording and related services.

Appliqate (APQT) has acquired CentsApp, a Utah-based online bill-pay and debt reduction platform. Appliqate said it will integrate CentsApp with its Compchain/Compcoin cryptocurrency payments platform to enable consumers to pay bills using crypto and fiat, expanding Appliqate’s payments and fintech capabilities.

SnapAV agreed to acquire Control4 in an all-cash transaction valuing Control4 at approximately $680 million ($23.91 per share). Hellman & Friedman, SnapAV's majority shareholder, will invest additional equity and be the majority shareholder of the combined company; the deal was expected to close in the second half of 2019.

Cove Hill Partners has made a significant minority equity investment in NetDocuments, joining existing investor Clearlake Capital to support the company's growth and innovation. NetDocuments, a leading secure cloud-based content services and document management SaaS used by law firms and corporate legal departments, will continue to be led by its management team; terms were not disclosed.

Daystar Products, a Phoenix-based automotive aftermarket parts manufacturer backed by private equity sponsor Dubin Clark, has acquired Tuff Country, an off-road suspension and accessories maker. Midwest Mezzanine provided subordinated debt and equity to support Dubin Clark and Daystar in the add-on acquisition, and Daystar said it is actively seeking further add-on investments in the automotive aftermarket sector.

Appliqate Inc (OTC: APQT) acquired a minority equity stake in Utah-based NUI Social and purchased NUI's digital wallet assets and associated intellectual property. The deal creates a strategic partnership enabling Appliqate to leverage NUI's large trained sales force to accelerate adoption of Appliqate's blockchain products and token distribution efforts.

An affiliate of The Beekman Group (Beekman Investment Partners III, LP) completed a majority recapitalization of Utah-based Convenient Payments LLC, providing growth equity to support expansion of the company's software-based payment solutions. The investment will fund product and team growth as Convenient Payments scales its payment platforms for customers in government, education, and medical sectors.

Christy Sports LLC acquired Leisure Living, Inc., a Salt Lake City–based specialty outdoor furniture retailer, in a deal that closed on March 11, 2019. The acquisition expands Christy Sports’ summer/outdoor furniture business and strengthens its commercial presence in Utah; financial terms were not disclosed.

Platinum Equity has acquired Pro-Mark, the parent company of Orbit Irrigation and Hydro-Rain, from affiliates of the founding Ericksen family; financial terms were not disclosed. The firm said it will apply its financial, operational and M&A resources to accelerate growth, deploy operational best practices and invest in product and technology development while Orbit's CEO Stuart Eyring will remain in place.