Utah Deal Intelligence - April 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
4/2/2025 Rollins, Inc. (NYSE:ROL) acquired Saela Holdings, LLC. The terms of the transaction were not disclosed. Saela provides pest control services and is based in Orem.
4/3/2025 Lucid Software Inc. acquired airfocus. The terms of the transaction were not disclosed. Lucid designs and develops visual collaboration software that helps teams visualize, plan, and build businesses and is based in South Jordan.
4/8/2025 Empower Solar acquired Radix RDX LLC. The terms of the transaction were not disclosed. Radix retails solar energy products and is based in Logan.
4/8/2025 Onset Financial, Inc. acquired Channel Partners Capital, LLC. The terms of the transaction were not disclosed. Onset provides equipment leasing and financing solutions and is based in Draper. Ray Quinney & Nebeker served as legal advisor to Onset.
4/15/2025 BioLite Inc. acquired Goal Zero LLC. The terms of the transaction were not disclosed. Goal manufactures portable solar battery chargers, panels, and off-grid solar generators and is based in Draper.
4/17/2025 ASSA ABLOY (OM:ASSA B) acquired Pedestal PRO, LLC. The terms of the transaction were not disclosed. Pedestal designs and manufactures access control mounting solutions and is based in Lindon.
4/17/2025 Jerry Seiner Dealerships acquired Ocean Honda of San Juan Capistrano. Ocean Honda will now operate under the name Jerry Seiner Honda. The terms of the transaction were not disclosed. Jerry Seiner Dealerships offers new and pre-owned vehicles, service, and parts and is based in Salt Lake City.
4/18/2025 The Miller family and Miller Sports + Entertainment (MSE) acquired controlling interest in RSL Football Holdings. The purchase includes Real Salt Lake of Major League Soccer and the Utah Royals FC of the National Women’s Soccer League, along with the Real Monarchs of MLS NEXT Pro and the RSL Academy. Real estate assets include America First Field, Zions Bank Stadium and Zions Bank Training Center. MSE is the sports and entertainment division of the Larry H. Miller Company and is based in Sandy.
4/23/2025 Packsize International, LLC acquired Sparck Technologies BV. The terms of the transaction were not disclosed. Packsize offers packaging solutions and is based in Salt Lake City.
4/23/2025 Filevine, Inc., dba Outlaw, acquired Parrot. The terms of the transaction were not disclosed. Outlaw develops and operates cloud-based legal case management software and is based in Salt Lake City.
4/24/2025 Tagg-N-Go Car Wash acquired Rubber Ducky Car Wash and Snake River Car Wash. The terms of the transaction were not disclosed. Tagg-N-Go provides car wash services and is based in Saint George.
M&A - Financial
4/10/2025 Bain Capital, LP agreed to acquire Sizzling Platter, LLC for $1.0 billion. Sizzling Platter owns and manages fast-casual restaurants and is based in Murray.
4/14/2025 BayPine LP agreed to acquire a majority stake in CenExel Clinical Research, Inc. The terms of the transaction were not disclosed. CenExel provides medical and scientific support for clinical trials and is based in Salt Lake City.
4/30/2025 Banner Capital Management, LLC acquired Roadrunner Paving and Asphalt Maintenance, LLC. The terms of the transaction were not disclosed. Banner is a venture capital and private equity firm based in Lehi.
Private Placements
4/1/2025 Atomic FI, Inc. announced that it has received $10.0 million in a round of funding from new investors F.N.B. Corporation (NYSE:FNB), Capital One Ventures, and Citi Venture Capital International. Atomic develops and operates an application programming interface (API) for connecting payroll accounts to third-party banking applications and is based in Cottonwood Heights.
4/2/2025 SchoolAI, Inc. announced that it has received $25.0 million in a round of funding led by Insight Venture Management, LLC with participation from Peterson Ventures, LLC, The General Partnership, and NextView Ventures. SchoolAI is an education technology company that develops AI-powered tools to support personalized instruction and professional development and is based in Lehi. Peterson is a venture capital firm based in Salt Lake City.
4/2/2025 YouScience, LLC announced that it has received a round of funding that included participation from ECMC Group Education Impact Fund. Based in American Fork, YouScience offers aptitude-based assessments and career guidance tools that help students identify strengths and align them with education and career pathways.
4/11/2025 AskElephant.ai Inc. announced that it will receive $7.7 million in funding. The transaction closed on 5/9/2025 with participation from 10 investors. AskElephant.ai operates an AI-based sales platform to improve revenue figures for corporations and is based in Draper.
4/16/2025 Tourmaline Labs, Inc., dba Tourmois, announced that it has received a round of funding from new investor Decathlon Capital Partners, LLC. Decathlon is a venture capital firm based in Park City.
4/17/2025 Cy4Data Labs Inc. announced that it has received $10.0 million in a round of funding led by new investor Pelion, Inc. Pelion is a venture capital firm based in Draper.
4/23/2025 Canopy Tax, Inc. announced that it has received $70.0 million in a round of funding led by new investor Viking Global Investors LP with participation from returning investors Ten Coves Capital, LP, Pelion, Inc., Ankona Capital, and other investors. Canopy develops practice management software solutions for accounting companies and is based in South Jordan. Pelion is a venture capital firm based in Draper.
4/28/2025 Gestalt Diagnostics, Inc. announced that it has received $7.5 million in a round of funding led by Cowles Company, Tacoma Venture Fund, Inland Imaging Investments Inc., Kickstart Seed Fund, and other investors. Gestalt provides advanced technology, digital expertise, and artificial intelligence to enable pathologists to diagnose diseases and is based in Spokane. Kickstart is a private equity and venture capital firm based in Cottonwood Heights.
4/28/2025 LightRun announced that it has received $70.0 million in a round of funding led by Accel Partners and Insight Venture Management, LLC with participation from Sorenson Capital, Citigroup Inc. (NYSE:C), Glilot Capital Partners, and GTM Capital. Sorenson is a private equity and venture capital firm based in Lehi.
4/30/2025 PerkCity, Inc., dba Nectar HR, announced that it has received $13.5 million in funding from 2 investors. Nectar develops and operates a platform that provides employees easy access to premium discounts on gym memberships, travel, theme parks, concerts, and wellness products and is based in Lehi.
4/30/2025 Redica Systems, Inc. announced that it will receive $7.0 million in funding. On 5/9/2025, Redica received $5.0 million in its first tranche from Merck Global Health Innovation Fund, LLC, Rock Creek Capital, LLC, and Savant Growth LLC. Rock Creek is a venture and equity investment firm based in Salt Lake City.