Utah Deal Intelligence - May 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
5/1/2025 An undisclosed buyer acquired NexTalk, Inc. The terms of the transaction were not disclosed. NexTalk provides software-based communication solutions to support deaf, hard of hearing, and limited English speaking proficiency individuals and their family members and is based in Murray. Foley & Lardner LLP served as legal advisor to NexTalk.
5/6/2025 Trucordia acquired the insurance business of Huffman Insurance. The terms of the transaction were not disclosed. Trucordia operates as an insurance brokerage company and is based in Lindon.
5/8/2025 Turning Tech Intermediate, Inc., dba Echo360, Inc. acquired SpeakWorks, Inc., dba GoReact. The terms of the transaction were not disclosed. GoReact develops and provides a cloud-based video training platform for skill development and feedback and is based in Orem.
5/13/2025 Scalar Partners, LLC acquired Jonathan Lubick Consulting Ltd. The terms of the transaction were not disclosed. Scalar offers business valuation services and is based in Draper.
5/13/2025 The SEER Group, LLC acquired S&S Mechanical. The terms of the transaction were not disclosed. S&S offers HVAC and plumbing services to residential and commercial customers and is based in St. George.
5/13/2025 Windish RV Center, Inc. acquired Airstream of Utah. The terms of the transaction were not disclosed. Airstream of Utah retails new and pre-owned motorhomes and trailers and is based in West Valley City.
5/14/2025 Forsta Group acquired InMoment, Inc. The terms of the transaction were not disclosed. InMoment develops and offers a cloud-based customer experience optimization platform and is based in South Jordan.
5/15/2025 Armanino Advisory LLC acquired Cooper Savas, LLC. The terms of the transaction were not disclosed. Cooper is a full-service public accounting firm based in Salt Lake City.
5/15/2025 TMA B.V. acquired DecisionWise, LLC. The terms of the transaction were not disclosed. DecisionWise operates as a human resource consulting company and is based in Springville.
5/19/2025 Weave Communications, Inc. (NYSE:WEAV) acquired Vidurama, Inc., dba TrueLark, for $35.0 million, comprising $25.0 million in cash and $10.0 million in equity. Weave provides a customer experience and payments software platform for small and medium-sized healthcare businesses and is based in Lehi. Wilson Sonsini Goodrich & Rosati, P.C. served as legal advisor to Weave.
5/20/2025 iFIT Health & Fitness Inc. acquired Reform Rx Ltd. The terms of the transaction were not disclosed. iFIT engages in the development, manufacturing, and distribution of home fitness equipment and is based in Logan.
5/20/2025 Merit Medical Systems, Inc. (NasdaqGS:MMSI) acquired Biolife L.L.C. for $120.0 million. 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.
5/23/2025 Shaklee acquired substantially all of Modere’s business through a subsidiary. The acquisition includes Modere's rights to all the trademarks, patents, and formulas for all Modere products including Liquid BioCell® Collagen and Trim. The terms of the transaction were not disclosed. Modere is an omnichannel, consumer products company that develops and markets clean, health & wellness products through ecommerce and direct-to-consumer channels and is based in Provo.
5/28/2025 Karman Holdings Inc. (NYSE:KRMN) acquired RCS RMC, Inc. for $60.0 million. RCS designs and manufactures rocket motors and solid rockets and is based in Cedar City.
M&A - Financial
5/1/2025 James Winder acquired Winder Farms, officially returning the company to Winder family ownership after two decades. The terms of the transaction were not disclosed. Winder Farms produces and sells food and beverage products and is based in West Valley City.
5/13/2025 Corinthian Capital Group, LLC and Valesco Industries, Inc. acquired an unknown majority stake in Illumination Enterprises Inc. The terms of the transaction were not disclosed. Illumination manufactures exterior lighting and is based in West Jordan.
Private Placements
5/2/2025 Ivanti Software, Inc. announced that it has raised $350.0 million in a round of funding that included participation from existing lenders. Ivanti designs and develops IT asset and service management software solutions and is based in South Jordan. Kirkland & Ellis LLP served as legal advisor to Ivanti.
5/6/2025 Unrivaled Sports announced that it has received $120.0 million in an equity round of funding led by new investor DICK'S Sporting Goods, Inc. (NYSE:DKS) with participation from Liontree Partners LLC, Larry H. Miller Sports & Entertainment Group (LHMSE), and other investors. LHMSE owns and operates entertainment venues and is based in Sandy.
5/7/2025 AcquireROI, LLC announced that it has received a round of funding that included participation from new investor Decathlon Capital Partners, LLC. Decathlon is a venture capital firm based in Park City.
5/12/2025 KindlyMD, Inc. (NasdaqCM:NAKA) announced its merger with Bitcoin treasury company Nakamoto Holdings Inc. and a $710.0 million capital raise that included participation from YA II PN, Ltd., ACTAI Ventures, Arrington Capital Investment Management, LLC, Kingsway Financial Services Inc. (NYSE:KFS), and many other investors. On 6/20/2025, KindlyMD announced receipt of an additional $51.5 million. Based in Murray, KindlyMD is a patient-first healthcare company integrating traditional primary care, pain management, behavioral health, and alternative therapies to provide comprehensive, whole-person care. Brunson Chandler & Jones, PLLC served as legal advisor to Kindly.
5/14/2025 TalentGuard Holdings, Inc. announced that it has received a round of funding that included participation from new investor Juvo Ventures. Juvo is a venture capital firm based in Salt Lake City.
5/15/2025 Entrata, Inc. announced that it has received $200.0 million in an equity round of funding that included participation from funds managed by new investor Blackstone Inc. for minority stake in the company. Entrata develops property management software and is based in Lehi. Wilson Sonsini Goodrich & Rosati, P.C. served as legal advisor to Entrata.
5/20/2025 AskElephant, Inc. announced that it has received $6.0 million in a round of funding led by new investor Jump Capital with participation from High Alpha, Inc., SaaS Venture Capital LLC, Ollin Ventures, Tandem Inc., and Element Ventures. AskElephant operates an AI-based sales platform intended to improve sales figures for corporations and is based in Draper. Ollin is a venture capital firm based in Lindon. Tandem is an investment company based in Draper. Element is a venture capital and private equity firm based in Provo.
5/27/2025 Vecinity Israel Ltd. announced that it has raised $6.1 million in a round of funding led by Ibex Investors LLC and Sorenson Capital with participation from Grand Ventures GP, LLC, Samsung NEXT, LLC, and Y Combinator Management, LLC. Sorenson is a private equity and venture capital firm based in Lehi.
5/28/2025 R1 RCM Inc. announced that it has received a round of funding from new investor Khosla Ventures, LLC. R1 provides managed and automated healthcare revenue management solutions and is based in Murray.