Utah Deal Intelligence - October 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

10/2/2025 NetDocuments Software, Inc. agreed to acquire the on-premise eDOCS solution of Open Text Corporation (NasdaqGS:OTEX) for $163.0 million. NetDocuments develops and provides a cloud-based document and email management platform and is based in Lehi. Orrick, Herrington & Sutcliffe LLP is serving as legal advisor to NetDocuments.

10/6/2025 Angel Studios, Inc. (NYSE:ANGX) and 2521 Entertainment, LLC agreed to acquire substantially all of the assets of Slingshot USA LLC for $77.9 million. 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.

10/6/2025 Qualtrics, LLC agreed to acquire Press Ganey Forsta for $6.8 billion. Qualtrics designs and develops a software solution for data collection and analytics and is based in Provo. Goodwin Procter LLP and Simpson Thacher & Bartlett LLP are serving as legal advisors to Qualtrics.

10/7/2025 Bluewave Technology Group, LLC acquired Streamline Communications. The terms of the transaction were not disclosed. Streamline is a technology solutions provider and is based in Murray.

10/7/2025 Commercial Funding Partners, LLC (CFP) acquired EquipmentLeases.com. The terms of the transaction were not disclosed. EquipmentLeases.com is a technology-enabled platform connecting businesses with equipment leasing and financing solutions and is based in Draper. CFP offers structured commercial equipment financing services and is based in Draper.

10/7/2025 IXOPAY, Inc. acquired Congrify Payment Intelligence Inc. The terms of the transaction were not disclosed. IXOPAY is an enterprise-grade global payment orchestration platform and is based in Lehi.

10/7/2025 Connoisseur Media, LLC agreed to acquire Four Stations in San Francisco from Bonneville International Corporation. The terms of the transaction were not disclosed. Bonneville, a broadcast and digital media company, owns and operates radio stations and is based in Salt Lake City. Strong & Hanni is serving as legal advisor to Bonneville.

10/9/2025 High Road PEO, LLC acquired Helpside, LLC. The terms of the transaction were not disclosed. Based in Lindon, Helpside operates as a professional employer organization (PEO) that provides payroll, benefits, HR, safety, and workers' comp solutions to small businesses.

10/13/2025 Level Education Group LLC acquired Triad Behavioral Health LLC. The terms of the transaction were not disclosed. Based in South Jordan, Level provides professional education courses to licensed professionals including psychologists, social workers, therapists, counselors, addiction specialists, and nurses to maintain their licenses and learn new skills.

10/15/2025 Fullcast, Inc. acquired CopyAI, Inc. The terms of the transaction were not disclosed. Based in Salt Lake City, Fullcast designs and develops RevOps Management Solution, a software for analyzing the sales operations of a company.

10/15/2025 The ownership group of Cookie Cutters Haircuts for Kids acquired The Snip-its Franchise Company, LLC and affiliates. The terms of the transaction were not disclosed. Based in Salt Lake City, Cookie Cutters operates a chain of salons for children and offers hair salon franchising services.

10/15/2025 Ampleo LLC acquired AVL Growth Partners. The terms of the transaction were not disclosed. Based in Lehi, Ampleo provides part-time CFO and outsourced controller services to small and mid-sized businesses.

10/15/2025 Merit Medical Systems, Inc. (NasdaqGS:MMSI) agreed to acquire the C2 CryoBalloon Product Line of Pentax of America, Inc. for $22.0 million. The transaction closed on 11/3/2025. Based in South Jordan, Merit designs, develops, manufactures, and markets single-use medical products for interventional, diagnostic, and therapeutic procedures. Parr Brown Gee & Loveless PC served as legal advisor to Merit.

10/21/2025 Accio, Inc., dba Jump, acquired Mobile Assistant, Inc. The terms of the transaction were not disclosed. Jump develops an AI-powered note-taking tool for financial advisors and is based in Salt Lake City.

10/22/2025 Fortiva Funding, LLC agreed to acquire the credit card receivables portfolio of Vive Financial LLC for $150.0 million. Vive provides financing solutions for retailers and healthcare providers and is based in Draper.

10/22/2025 R1 RCM Inc. acquired Phare Health Ltd. The terms of the transaction were not disclosed. R1 provides managed and automated healthcare revenue management solutions and is based in Murray. Perkins Coie LLP served as legal advisor to R1.

10/24/2025 Wright National Flood Insurance Services, LLC agreed to acquire assets of Poulton Associates, LLC. The transaction closed on 11/4/2025 and the terms were not disclosed. Poulton offers flood and earthquake insurance services and is based in Salt Lake City.

10/24/2025 Biamp Systems, LLC acquired certain assets from ClearOne, Inc. (NasdaqCM:CLRO). The terms of the transaction were not disclosed. ClearOne, together with its subsidiaries, designs, develops, and sells conferencing, collaboration, and network streaming solutions for voice and visual communications, and is based in Salt Lake City.

10/28/2025 Pye-Barker Fire & Safety, LLC acquired Zion Fire & Security. The terms of the transaction were not disclosed. Based in St. George, Zion Fire & Security operates as a fire protection and security services company.

10/28/2025 Info Tech Operating, LLC, dba Infotech, acquired Workflow Manager. The terms of the transaction were not disclosed. Based in Salt Lake City, Workflow is a planning and project delivery software application for transportation agencies and the consultants who serve them.

10/28/2025 Young Automotive Group, LLC acquired Larry H. Miller Chrysler Jeep Dodge Ram Riverdale. The terms of the transaction were not disclosed. Based in Layton, Young operates dealerships in Utah, Idaho, and Montana, and offers training programs on management, leadership, sales, and customer service.

M&A - Financial

10/3/2025 CVC Capital Partners plc (ENXTAM:CVC) agreed to acquire 77% in Bamboo Ide8 Insurance Services, LLC for $840.0 million. Based in Midvale, Bamboo operates as an insurance agency that underwrites residential property insurance and offers insurance products through its partners. Cravath, Swaine & Moore LLP and Willkie Farr & Gallagher LLP are serving as legal advisors to Bamboo and Bamboo management.

Private Placements

10/6/2025 Climax Foods Inc. announced a $6.5 million initial closing of its Series A round of funding led by S2G Investments with participation from new and existing investors that include At One Ventures, Gratitude Railroad, Manta Ray Ventures, and Toba Capital. Gratitude is a private equity and venture capital firm based in Park City.

10/7/2025 Planera Inc. announced that it has raised $8.0 million in a round of funding that included participation from Sorenson Capital, Brick & Mortar Ventures, Prudence Holdings, Inc. and others. Sorenson is a private equity and venture capital firm based in Lehi.

10/9/2025 Yendo, Inc. announced that it has received $50.0 million in a round of funding that included participation from Pelion Venture Partners, AutoTech Ventures, LLC, Mark Cuban Companies, and others. Pelion is a venture capital firm based in Draper.

10/9/2025 Knapsack Company announced that it has received $10.0 million in a round of funding led by Builders VC, LLC with participation from EPIC Ventures, CrossLink Capital, Inc., Lorimer Ventures, LLC, and others. EPIC is a private equity and venture capital firm based in Salt Lake City.

10/10/2025 Waystar Holding Corp. (NasdaqGS:WAY) announced that it has issued common shares for gross proceeds of $620.8 million. Waystar develops a cloud-based software solution for healthcare payments and is based in Lehi.

10/14/2025 Breeze Aviation Group, Inc, dba Breeze Airways, announced that it has raised $47.5 million in a round of funding from new lender AIP Capital Advisors LLC. Based in Cottonwood Heights, Breeze operates as a commercial airline offering charter flights, corporate travel, and group travel services.

10/20/2025 PortX, Inc. announced that it has received funding from Allied Solutions, LLC, American Bankers Association Inc., Curql Collective, BankTech Ventures, LP, and others. BankTech is a venture capital firm based in Sandy.

10/20/2025 knownwell announced that it has raised $26.1 million in its Series B round of funding led by CVS Health Ventures with participation from Intermountain Ventures, Andreesen Horowitz LLC, Flare Capital Partners, and others. Based in Salt Lake City, Intermountain Ventures is the private equity and venture capital arm of Intermountain Healthcare.

10/22/2025 Ceres Imaging, Inc. announced that it has received a round of funding that included participation from Decathlon Capital Partners, LLC, a venture capital firm based in Park City.

10/28/2025 Carepool Innovation, Inc. announced that it has received a round of funding from Decathlon Capital Partners, LLC, a venture capital firm based in Park City.