Acquisitions in Utah in 2021

Bluejay Capital Partners has completed the acquisition of Pacific West, LLC, a Salt Lake City–based niche rail and industrial services firm. The transaction was financed with unitranche debt and an equity co-investment from Southfield Mezzanine; terms were not disclosed and Pacific West COO Dustin Hall retains a meaningful ownership stake. Bluejay intends to expand Pacific West's service offerings and geographic reach across the western United States.

Hamilton Robinson Capital Partners, alongside WorkforceQA management, completed a recapitalization of WorkforceQA, a Salt Lake City–based tech-enabled third-party administrator of employee screening and compliance services. Gladstone Capital Corporation provided senior debt and a minority equity investment to support the transaction, which will fund technology and people investments and accelerate WorkforceQA's acquisition strategy.

Mammoth Holdings, LLC has acquired Wasatch Express Car Wash, a one-unit express car wash operator in West Jordan, Utah; the Wasatch Express owners also made equity investments in Mammoth. The deal expands Mammoth's footprint in Utah (bringing its total to six stores in the state) and supports its planned regional growth pipeline.

Flatiron Health has acquired Protocol First, a Salt Lake City–based provider of clinical research software, making Protocol First a wholly owned subsidiary effective Dec. 14. The acquisition integrates Protocol First's EHR-to-EDC connector and research workflow tools into Flatiron's Clinical Research business unit to expand Flatiron's real-world evidence and clinical research capabilities.

OneDigital has acquired Ventris Utah Employee Benefits to expand its employee benefits and retirement consulting presence in Utah and the broader Western U.S. Ventris founders Joel Mills and Marc Hale will join OneDigital's West Region as Managing Principals to continue serving clients with enhanced national resources and capabilities.

Crosspoint Capital Partners has completed a strategic investment in DigiCert, joining existing owners Clearlake Capital and TA Associates. The capital and Crosspoint's cybersecurity expertise are intended to support DigiCert's next phase of growth in digital trust solutions; the company also appointed Dave Morton as CFO and added Crosspoint partners to its board.

Greenix Pest Control, headquartered in Orem, Utah, announced the acquisition of Rise Pest Control, adding more than 70 team members and service professionals across Iowa, Kansas, Wisconsin, Minnesota, Indiana and Nebraska. The deal increases Greenix's density in the upper Midwest and expands its footprint as the company continues rapid growth across multiple states.

Pfizer Inc. agreed to acquire clinical-stage Arena Pharmaceuticals for $100 per share in an all-cash transaction valued at approximately $6.7 billion, creating a wholly owned subsidiary. The acquisition brings Arena's development-stage portfolio — including etrasimod and cardiovascular assets — into Pfizer's Inflammation & Immunology pipeline to accelerate clinical development and expand therapeutic capabilities.

Harry's, Inc. has entered into a definitive agreement to acquire Lumē Deodorant, LLC, a doctor-developed direct-to-consumer personal care brand focused on all-over body odor solutions. The acquisition — the first for Harry's Labs — will bring Lumē's product portfolio and team into Harry's platform to scale the brand across DTC and omni-channel channels; the transaction was expected to close by the end of 2021 subject to customary conditions.

DexKo Global's wholly owned subsidiary Dexter Axle Company has acquired Progress Mfg. Inc., a Provo, Utah-based maker of integrated sway control hitches and towing accessories (brands include Equal-i-zer and Fastway). The deal expands Dexter/DexKo's portfolio of towing and trailer safety products and broadens its offering to OEM and dealer channels across North America.

Mountain Regional Equipment Solutions, MRES Imports LLC and PIRTEK Salt Lake City, Inc. merged into a new holding company, MRES Holdings, Inc., to combine sales, marketing and operating efforts across vocational and industrial end markets. The merger closed on August 5, 2021 and the combined organization will continue to operate under the individual brands while integrating service, distribution and mobile hydraulic/hose capabilities to reduce equipment downtime and life-cycle costs for customers.

Pittsburgh-based private equity firm 3 Rivers Capital has acquired a majority stake in Salt Lake City–headquartered Blue Chip Group, parent of the Augason Farms emergency preparedness food brand. The investment is intended to provide capital and operational support to expand Blue Chip's dry food and beverage contract manufacturing capacity and scale Augason Farms' retail and e-commerce distribution.

Diversis Capital, a Los Angeles-based private equity firm, has acquired Fishbowl, a Utah-based provider of inventory management and warehouse/manufacturing software for QuickBooks users. Diversis plans to accelerate Fishbowl's SaaS product offerings, expand internationally, grow hosting and e-commerce capabilities, and pursue strategic add-on acquisitions.

Husqvarna Group agreed to acquire Orbit Irrigation from Platinum Equity in a transaction valuing Orbit at approximately $480 million. Orbit, a Salt Lake City–based maker of residential watering equipment and smart B-hyve devices (about 1.4 million connected devices), will join Husqvarna's Gardena Division to create a global leader in residential watering.

River Birch Partners, a New England-based private investment office, has made a growth investment in Vortex Racing, a Salt Lake City manufacturer of motorcycle racing components. Vortex Racing produces thousands of aftermarket and racing parts (sprockets, rear sets, handlebars, frame sliders, etc.), and River Birch says it will take a long-term approach to support the company's growth and continuity.

Arthur J. Gallagher & Co. has acquired Park City, Utah-based Real Estate Insurance Solutions, a specialist brokerage founded in 2004 that provides real estate errors & omissions and cyber liability coverage to real estate professionals across 32 states. Chris Nangle and his associates will remain in Park City and operate under the direction of Gallagher Affinity; terms of the transaction were not disclosed.

ARCH Precision Components, a Madison Dearborn Partners portfolio company, has acquired Metalcraft Technologies Inv., LLC (MTI) of Cedar City, Utah as an add-on to expand ARCH's aerospace and defense manufacturing footprint. MTI, a 30+-year sheet metal fabrication and aircraft-components manufacturer operating roughly 150,000 sq. ft. across two facilities, brings additional sheet-metal fabrication, machining and surface-treatment capabilities to the ARCH platform.

Centre Partners, a middle-market private equity firm, has acquired KNS International, a Draper, Utah-based designer and drop-shipper of branded footwear. Tower Arch Capital sold KNS to an affiliate of Centre Partners; KNS founder and CEO Jeremy Pope and management invested alongside Centre Partners and will continue to lead the business.

nCino, a cloud banking software provider, agreed to acquire SimpleNexus, a mobile-first homeownership and digital mortgage platform, in a transaction valued at approximately $1.2 billion (approximately $240 million cash and ~13.2 million shares). The acquisition expands nCino's point-of-sale and mobile capabilities in the U.S. mortgage market and is expected to close by the end of nCino's fourth fiscal quarter ending January 31, 2022, subject to customary approvals.

Friendly Group, a home services platform, has acquired Western Heating & Air, an HVAC company with branches in Orem and Lehi, Utah. The deal expands Friendly Group's footprint in Northern Utah; Western will continue to operate under its brand with owner Ryan Snow remaining at the helm, and Friendly Group's board includes representatives from Alchemy Capital Partners and RFE Investment Partners.

Tilia Holdings, a Chicago-based private investment firm focused on the food supply chain, announced a growth investment in Stone Ground Bakery and that Stone Ground will merge with Wheat Montana, a Tilia portfolio bakery. Stone Ground will continue to operate under its existing brand with co-owners Tammy Hines and Derrick Schmerse remaining in place, and the combined businesses will leverage Wheat Montana's distribution network to expand Stone Ground's reach across the Western United States.

ShipHero has acquired Golden Egg Solutions, an e-commerce fulfillment and packaging provider based in Salt Lake City, Utah. The acquisition gives ShipHero a strategically located warehouse in the Northwestern U.S. and adds capabilities including HazMat handling, packaging, drop-shipping and white-label supplement procurement for its fulfillment and 3PL clients.

PCF Insurance Services completed a management- and partner-led buyout from sponsor HGGC, led by CEO Peter C. Foy and partner investor Owl Rock (a division of Blue Owl), with strategic advisory support from Sica Fletcher. The transaction values PCF at more than $2.2 billion, included financing in excess of $1 billion, and leaves HGGC with a minority stake as PCF pursues continued growth.

Menlo Park private equity firm Symphony Technology Group (STG) has made a majority investment in CaseWorthy, Inc., a Salt Lake City–based provider of case management software for nonprofits and government agencies. STG intends to strengthen CaseWorthy's product and data-management capabilities, scale the business, and pursue new solution areas and potential complementary acquisitions in the healthcare and social assistance markets.

RoadSafe Traffic Systems (RoadSafe) has acquired Barricade Services & Sales, Inc. (BSSI), a Salt Lake City-based supplier of traffic control products and services. The deal expands RoadSafe's footprint into the Mountain West/Utah market and broadens its traffic control and pavement marking capabilities; RoadSafe is PE-backed following partnerships with Investcorp and Trilantic North America.

Penn Foster Group has combined with Carrus, acquiring the healthcare-focused learning and certification business and providing an exit for Revelstoke Capital Partners. Carrus (including CareerStep and CareerCert) delivers online healthcare training, continuing education and certification management and will join Penn Foster's workforce and online learning platform.

Barrette Outdoor Living, a leading North American supplier of exterior home products, has acquired National Vinyl Products (NVP), a family-owned vinyl fence and railing manufacturer based in Nephi, Utah. The deal brings NVP's U.S. manufacturing capabilities and product portfolio into Barrette's platform to expand product offerings and combine strategic plant locations.

Crestone Services Group, a Denver-based communications and utility infrastructure platform, has acquired Americom Technology, Inc., a West Valley City, Utah provider of fiber-optic, power/utility and ISP cabling services and data center design. Americom will continue to operate under President and Founder Pat Richter; the deal expands Crestone's footprint across the Mountain West as an add-on to its existing West Division.

Allocations acquired Salt Lake City-based Lumen Advisory & Finance in a $2.5 million cash-and-stock deal to integrate Lumen’s accounting automation capabilities into Allocations’ private equity platform. Nicholas Bird, founder of Lumen, will join Allocations as Chief Financial Officer as the firm’s “infinity engine” fund and SPV accounting system is deployed across Allocations’ product suite. The acquisition strengthens Allocations’ fund administration and tech-enabled accounting capabilities for its SPV and fund customers.

Pattern, the Lehi, Utah–based ecommerce and marketplace acceleration platform, received a $225 million minority growth equity investment led by growth investor Knox Lane with pro‑rata participation from existing investors. The capital will be used to further develop Pattern’s technology and services platform and extend its global presence across marketplaces and direct‑to‑consumer channels. J.P. Morgan served as placement agent; advisors named include William Blair, Jones Day and Kirkland & Ellis.

Regions Bank (a subsidiary of Regions Financial Corporation) has completed its acquisition of Salt Lake City-based home improvement lender EnerBank USA from CMS Energy Corporation. EnerBank — a specialized point-of-sale lender serving homeowners and contractors with digital and contractor-delivered lending solutions and roughly 485 employees — will join Regions' Consumer Banking Group and continue operating from Salt Lake City as it transitions into the Regions brand.

Glacier Bancorp, Inc. completed its acquisition of Altabancorp (Altabank), the largest community bank in Utah. Altabank will operate as "Altabank, Division of Glacier Bank," adding 25 branches and roughly $3.5 billion in assets and expanding Glacier's Western U.S. footprint.

Qlik has acquired Big Squid, a provider of no-code automated machine learning, to embed AutoML-driven predictive analytics, key-driver analysis and what-if scenario planning into Qlik's augmented analytics and Qlik Cloud. The acquisition expands Qlik's SaaS roadmap and Active Intelligence vision by enabling non-data-scientists to deploy API-accessible predictive models directly within Qlik; terms were not disclosed.

UPSTACK has acquired Utah-based IT consulting firm Open Communications LLC; terms were not disclosed. The deal brings Open Communications founder Amanda Heinritz into UPSTACK as a Partner and equity stakeholder, and supports UPSTACK's strategy to scale its cloud and internet infrastructure sourcing platform (backed by a prior $50 million equity investment from Berkshire Partners).

LafargeHolcim in the United States has acquired Utelite Corporation, a Coalville, Utah-based producer of expanded shale lightweight aggregates. The purchase strengthens LafargeHolcim's aggregates presence in the Mountain Region; Utelite was founded in 1962, has more than 40 employees, and holds over 60 years of proven and probable reserves.

LINC Systems, the industrial fastener and packaging distribution platform backed by Center Rock Capital Partners, has acquired Air-O Fasteners, a family-owned distributor based in the Salt Lake City area. The add-on acquisition expands LINC's presence in the Western U.S. and deepens its footprint in construction and general industrial end markets.

Boxwheel Trailer Leasing, backed by Houston-based private equity firm Crosstimbers Capital Group, has acquired Prime Trailer to expand its semi-trailer rental, leasing, sales and service footprint into the Salt Lake City, Utah and Reno, Nevada markets. The deal is Boxwheel’s second acquisition in 2021 and is part of a growth strategy supported by Crosstimbers and financing from Hancock Whitney Bank.

Generational Equity advised the sale of Mountain West Security, LLC to Fire Protection Service Corporation (dba Mountain Alarm Fire & Security), a transaction that closed on September 21, 2021. Mountain West Security, headquartered in Orem, Utah, provides commercial and residential fire and security installation and 24-hour monitoring; Mountain Alarm, headquartered in Ogden, Utah, is a family-owned fire and security operator with multiple offices across the Mountain West pursuing growth through acquisitions.

Class Valuation, a Gridiron Capital portfolio company, acquired DataMaster, a Layton, Utah–based real estate appraisal software provider that supplies MLS and public record data integration and a SaaS workflow tool for appraisers. The acquisition expands Class Valuation's technology capabilities and will integrate DataMaster's MLS integration and data management with Class's Property Fingerprint to further digitize and streamline the appraisal process.

JSI, a Stone-Goff Partners portfolio company, has acquired Mid-State Consultants, Inc., a Nephi, Utah–based broadband engineering firm. The add-on expands JSI's engineering capabilities and gives the company a stronger foothold in the western U.S., Alaska and Hawaii.

Kirtland Capital Partners completed a recapitalization of Chamber Media, a Utah-based full-service creative agency specializing in social media video advertising. XLCS Partners advised Chamber Media and the transaction involved a partnership with founders Travis Chambers and Stefan van de Graaff to provide liquidity and support the company's growth.

Whiplash, a nationwide omnichannel fulfillment provider based in City of Industry, California, acquired Enlinx, a Salt Lake City–based 3PL fulfillment provider, adding a 400,000-square-foot distribution center and ~246 employees. The acquisition expands Whiplash's presence in the Intermountain West to better serve D2C ecommerce and omnichannel retail customers with faster regional shipping and multi-node fulfillment capabilities.

Cotopaxi, a Salt Lake City–based outdoor gear and apparel brand, secured a growth investment led by Bain Capital Double Impact to accelerate global omnichannel growth, sustainable product initiatives, and social impact programs. As part of the investment, Cecilia Chao of Bain Capital Double Impact will join Cotopaxi’s board to support the company’s expansion and mission-driven strategy.

PROtect, LLC, a portfolio company of Spire Capital Partners, has acquired Riccardelli Consulting Services, Inc. (RCS), a Lehi, Utah–based provider of advanced and conventional non-destructive testing focused on pipeline integrity for the midstream oil & gas industry. The bolt‑on acquisition expands PROtect's advanced NDT and pipeline integrity capabilities; RCS owner Sean Riccardelli will join the combined management team. Both companies will retain existing employees and continue operating under their current brands.

Spartronics, a portfolio company of One Equity Partners, has completed the acquisition of Inovar, Inc., a Tier‑3 electronics manufacturing services (EMS) provider headquartered in North Logan, Utah. The add‑on expands Spartronics’ EMS capabilities, OEM customer base across aerospace, defense and medical markets, and adds a near‑shore facility in Tecate, Mexico to complement its existing global footprint.

Affiliates of White Brush Capital have recapitalized Weller Recreation, a powersports dealership based in Kamas, Utah. Lakeside Partners served as exclusive financial advisor to Weller Recreation and Delfino Madden served as legal counsel; the transaction provides liquidity/partnership for the Weller family to support future growth.

CURE Media Group, a brand of MJH Life Sciences, has acquired Cancer Horizons, a self-funded online resource for cancer patients, survivors and caregivers. The acquisition will integrate Cancer Horizons' community-focused content with CURE's editorial platforms to expand reach and deliver more cancer news, resources and patient-focused education.

TA Associates has made a growth investment in PDQ.com, a Salt Lake City–headquartered provider of IT asset management and endpoint management software. The investment will support PDQ's product portfolio expansion and accelerate growth alongside the company's founders and management team.

Amazing Care Home Health Services, a portfolio company of 3 Rivers Capital, has acquired Utah Homecare, LLC, a division of Salus Homecare, expanding Amazing Care's pediatric private duty nursing and therapy services into Utah. The deal is Amazing Care's fifth acquisition and supports the company's strategy to grow its pediatric home-health footprint; the combined companies will employ more than 1,000 people and operate 11 offices across three states.

L Catterton has agreed to acquire a majority stake in Beauty Industry Group (BIG), a Salt Lake City–based platform of hair extension brands. Existing shareholders — including HGGC, CEO Derrick Porter, and the management team — will reinvest and retain a meaningful minority stake as L Catterton partners with BIG to accelerate brand building, DTC expansion and international growth.