Utah Deal Intelligence - September 2025

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

9/2/2025 Central Utah Telephone Inc., dba CentraCom Interactive, agreed to acquire Gunnison Telephone Company. The terms of the transaction were not disclosed. Gunnison provides telecommunications and broadband services to residential and business customers and is based in Gunnison. CentraCom provides broadband data transport, telecommunications, video, and other services and is based in Fairview.

9/3/2025 Becklar, LLC acquired Dynamark Monitoring, Inc. The terms of the transaction were not disclosed. Becklar provides wholesale alarm and video monitoring services and solutions and is based in Ogden.

9/3/2025 Crush Software Solutions LLC acquired S3 Software Solutions. The terms of the transaction were not disclosed. S3 develops an AI-based yard management system for the self-service auto recycling industry and is based in Salt Lake City. Crush develops software for auto recycling operators that modernizes how recyclers source, price, and sell vehicles and parts and is based in Salt Lake City.

9/3/2025 LifeVantage Corporation (NasdaqCM:LFVN) agreed to acquire LoveBiome. The terms of the transaction were not disclosed. LoveBiome is a direct sales company dedicated to comprehensive microbiome care and wellness solutions and is based in Provo. Based in Lehi, LifeVantage engages in the identification, research, development, formulation, and sale of advanced nutrigenomic activators, dietary supplements, nootropics, weight management, pre- and pro-biotics, and skin and hair care products.

9/3/2025 Volaris Group Inc. acquired Alpine Testing Solutions, Inc. The terms of the transaction were not disclosed. Alpine provides psychometric consulting and test security services for credentialing and licensure programs and is based in Orem.

9/4/2025 Backcountry.com, LLC acquired Velotech Inc. The terms of the transaction were not disclosed. Backcountry retails outdoor gear and clothing solutions for men and women online and is based in Park City.

9/9/2025 Shaklee Australia Pty Ltd acquired assets of Modere, Inc. The terms of the transaction were not disclosed. Based in Springville, Modere manufactures and distributes nutritional, personal care, health and wellness, and household products.

9/16/2025 nClouds, Inc. acquired PREDICTif Solutions. The terms of the transaction were not disclosed. Based in Salt Lake City, nClouds is an Amazon Web Services (AWS) Premier Tier Services Partner that provides its customers with end-to-end cloud transformation spanning strategy, migration, modernization, managed services, AI, and advanced analytics on AWS.

9/18/2025 Arkade AI Inc. acquired Loop Holdings LLC. The terms of the transaction were not disclosed. Based in Salt Lake City, Arkade AI delivers voice intelligence solutions that capture, enrich, and act on customer interactions in real-time.

9/18/2025 Complete Solar, Inc. acquired Sunder Energy LLC for $55.8 million. Sunder is an independent solar sales company that installs solar panels for homeowners and is based in South Jordan. Complete Solar manufactures, installs, and retails residential solar power systems and is based in Orem.

9/19/2025 Freezing Point LLC acquired Alligator Ice. On 9/24/2025, Freezing Point acquired key assets of Berkeley Street Beverage Company, Inc. The terms of the transactions were not disclosed. Freezing Point produces fruit juices under the Frazil brand and is based in Salt Lake City.

9/23/2025 DigiCert, Inc. acquired ValiMail Inc. The terms of the transaction were not disclosed. Based in Lehi, DigiCert provides TLS/SSL, PKI, IoT, and digital signing solutions through its DigiCert® ONE platform, helping individuals and businesses engage online securely. Sidley Austin LLP served as legal advisor to DigiCert.

9/23/2025 Bed Bath & Beyond, Inc. (NYSE:BBBY) acquired Kirkland’s Home, Inc. from The Brand House Collective, Inc. (NasdaqGS:TBHC) for $10.0 million. Bed Bath & Beyond operates as an e-commerce company offering home goods, furniture, décor, and lifestyle products through its Bed Bath & Beyond, Overstock, and Zulily brands and is based in Murray.

9/24/2025 Ampleo LLC acquired Avalaunch Media, LLC. The terms of the transaction were not disclosed. Avalaunch is a digital marketing agency based in Lehi. Ampleo provides part-time CFO and outsourced controller services to small and mid-sized businesses and is based in Lehi.

9/26/2025 Incubeta UK Limited acquired RocketSource, LLC. The terms of the transaction were not disclosed. Based in South Jordan, Rocket operates as a consultancy firm which provides proprietary frameworks that offer the foundation for AI-driven transformation across marketing data, analysis, and activation.

9/29/2025 PDQ.com Corporation acquired ISL Online. The terms of the transaction were not disclosed. PDQ provides endpoint management and IT automation solutions and is based in South Salt Lake.

M&A - Financial

9/15/2025 Accel-KKR LLC acquired an unknown majority stake in Arbiter, LLC. Serent Capital Management Company, LLC retained a minority equity position. The terms of the transaction were not disclosed. Based in Sandy, Arbiter develops SaaS-based tools for scheduling, registration, payments, and eligibility verification for athletic departments, school districts, and officiating organizations.

9/24/2025 Tower Arch Capital, L.P. acquired an unknown majority stake in Documotion Research, Inc. The terms of the transaction were not disclosed. Tower is a private equity firm based in Draper. Gibson, Dunn & Crutcher LLP served as legal advisor to Tower.

Private Placements

9/3/2025 Vector announced that it has received $61.0 million in its Series A round of funding led by Pelion, Inc. with participation from Harpoon Ventures Management, LLC, Point72 Asset Management, L.P., Kickstart Capital, LLC, Run Ventures, and other investors. Pelion is a venture capital firm based in Draper. Kickstart is a private equity and venture capital firm based in Cottonwood Heights. Dauntless is a venture capital firm based in Draper. Run is a venture capital firm based in Salt Lake City.

9/9/2025 Solsten, Inc. announced that it has received a round of funding from Decathlon Capital Partners, LLC. Decathlon is a venture capital firm based in Park City.

9/9/2025 Tagg N Go Express Car Wash, LLC announced that it has secured a strategic financing package from Andover Lending, a joint venture between TPG Angelo Gordon and Andover Properties, a real estate investment manager. Based in St. George, Tagg is an express car wash company with 30 locations across Utah, Idaho, and Nevada.

9/10/2025 Angel Studios, Inc. (NYSE:ANGX) announced the close of a $100.0 million growth credit facility with Trinity Capital Inc. (Nasdaq:TRIN). Angel's shares of Class A common stock started trading on the NYSE the morning of September 11th after its business combination with Southport Acquisition Corporation (OTC:PORT), a special purpose acquisition company. Based in Provo, Angel produces and distributes values-based films and television shows through its streaming platform and allows its fans to invest in and promote productions. Mayer Brown LLP served as legal advisor to Angel.

9/15/2025 PredictAP, Inc. announced that it has received $5.0 million in funding led by RETV Management LLC with participation from Wise Ventures. RETV is a private equity and venture capital firm based in Park City.

9/18/2025 CodeRabbit, Inc. announced that it has raised $68.0 million in Series B funding led by Scale Management, L.L.C. with participation from NVentures LLC, Pelion, Inc., and others. Pelion is a venture capital firm based in Draper.

9/23/2025 Maeve Aerospace announced that it has received a strategic equity investment from SkyWest, Inc. (NasdaqGS:SKYW). SkyWest operates a regional airline and is based in St. George.

9/23/2025 Filevine, Inc. announced that it has received $400.0 million in an equity round of funding co-led by Insight Venture Management, LLC, Accel Partners, and The Halo Funds with participation from Meritech, StepStone Group Inc., Album VC, and Run Ventures. Filevine develops and operates cloud-based legal case management software and is based in Salt Lake City. Album is a venture capital firm based in Lehi. Run is a venture capital firm based in Salt Lake City.

9/23/2025 Perfect Feast announced that it has received a round of funding that included participation from SageLink Capital, LLC and Genesis Park Management LLC. Based in Pleasant Grove, Perfect Feast is a provider of corporate holiday gifting solutions, specializing in food-based rewards. SageLink is a private equity firm based in Lehi.

9/23/2025 Rodatherm Energy Corporation announced that it has raised $38.0 million in a round of funding led by Evok Innovations with participation from Grantham Foundation For The Protection Of The Environment, Techenergy Lithium S.A., MCJ Co., Ltd., and others. Rodatherm operates as a geothermal power-generation company based in Salt Lake City.

9/23/2025 Stable Financial, Inc. announced that it has received $20.0 million in a round of funding led by NVP Associates, LLC with participation from Coinbase Ventures, Bank of Utah, BankTech Ventures, LP and others. Bank of Utah operates as a community bank offering personal and business banking, mortgage and commercial lending, wealth management and trust services, and is based in Ogden. BankTech is a venture capital firm based in Sandy.

9/24/2025 Little Otter, Inc. announced that it has received a round of funding from Decathlon Capital Partners, LLC. Decathlon is a venture capital firm based in Park City.

9/24/2025 WeTravel announced that it has raised $92.0 million in its Series C round of funding led by Sapphire Ventures, LLC with participation from Cross Creek Advisors, LLC, Base10 Partners Capital Management, LLC, and others. Cross Creek is a venture capital firm based in Salt Lake City.

9/25/2025 Torus, Inc. announced that it has received a $200.0 million investment from Magnetar Capital Partners, LP. Based in South Salt Lake, Torus is a full-stack energy platform offering storage, management, security, and generation solutions. The investment will accelerate the deployment of Torus’ proprietary modular power plants for utilities, data centers, and commercial and industrial customers across the U.S.

9/30/2025 Fiveonefour Labs Inc. announced that it has received a round of funding led by Dimension Capital Management LLC with participation from Flybridge Capital Partners, Stage 2 Capital, Vermilion Cliffs Ventures, and others. Vermilion is a venture capital firm based in Salt Lake City.