Utah Deal Intelligence - December 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

12/1/2025 PACS Group, Inc. (NYSE:PACS) acquired a 160-Bed Skilled Nursing Facility in Nevada. The terms of the transaction were not disclosed. PACS, through its subsidiaries, operates skilled nursing and assisted living facilities and is based in Farmington.

12/1/2025 PROG Holdings, Inc. (NYSE:PRG) agreed to acquire Purchasing Power, LLC for $420.0 million. Based in Salt Lake City, PROG is a fintech holding company that provides transparent and competitive payment options and inclusive consumer financial products. King & Spalding LLP served as legal advisor to PROG.

12/1/2025 Norco Medical acquired Petersen Medical LLC. The terms of the transaction were not disclosed. Based in Kaysville, Petersen operates as a home healthcare company offering sleep supplies, mobility equipment, oxygen, and incontinence supplies.

12/3/2025 Pattern Group Inc. (NasdaqGS:PTRN) entered into a stock purchase agreement to acquire ROI Hunter. The terms of the transaction were not disclosed. Pattern accelerates various brands on ecommerce marketplaces using proprietary technology and AI and is based in Lehi. Spencer Fane LLP and NIRRIS served as legal advisors to Pattern.

12/4/2025 Trucordia Insurance Services, LLC acquired First Global Financial & Insurance Services, Inc. The terms of the transaction were not disclosed. Trucordia provides insurance and risk-management solutions and is based in Lindon.

12/4/2025 Squire & Company, PC agreed to acquire HintonBurdick CPAs & Advisors. The terms of the transaction were not disclosed. Based in St. George, HintonBurdick is a regional CPA firm with offices across Utah, Arizona, and Nevada. Based in Orem, Squire provides audit, tax, and business advisory services.

12/5/2025 Virtus Investment Partners, Inc. (NYSE:VRTS) agreed to acquire 56% stake in Keystone National Group, LLC for $370.0 million. Keystone is a private equity and investment advisory firm based in Salt Lake City. Willkie Farr & Gallagher LLP is serving as legal advisor to Keystone.

12/9/2025 Jensen Hughes, Inc. acquired Safety Management Services, Inc. The terms of the transaction were not disclosed. Based in West Jordan, Safety is an engineering firm specializing in process safety hazards analysis and energetic materials consulting and testing.

12/15/2025 NVIDIA Corporation (NasdaqGS:NVDA) acquired SchedMD LLC. The terms of the transaction were not disclosed. Lehi-based SchedMD provides Slurm workload manager and Slurm support for high-performance computing, high-throughput computing, artificial intelligence, and machine learning systems.

12/16/2025 CM Labs Simulations Inc. acquired GlobalSim, Inc. The terms of the transaction were not disclosed. Based in Sandy, GlobalSim designs, builds, installs, and maintains simulators and systems.

12/17/2025 Wealth Enhancement Group, LLC agreed to acquire Wealth Advocates. The terms of the transaction were not disclosed. Wealth Advocates provides wealth management advisory and planning services and is based in Logan.

12/18/2025 Pattern Group Inc. (NasdaqGS:PTRN) acquired NextWave, a TikTok commerce agency specializing in creator-led product discovery, TikTok Shop operations, live selling, and affiliate acceleration. The terms of the transaction were not disclosed. Pattern accelerates various brands on ecommerce marketplaces using proprietary technology and AI and is based in Lehi.

12/23/2025 ZenaTech, Inc. (NasdaqCM:ZENA) acquired Vara 3D Inc. The terms of the transaction were not disclosed. Vara develops and provides advanced 3D visualization solutions and is based in Murray.

M&A - Financial

12/16/2025 Snapdragon Capital Partners LLC acquired an unknown majority stake in Nutraceutical International Corporation, dba Better Being Co. The terms of the transaction were not disclosed. Better Being manufactures, markets, distributes, and retails branded nutritional supplements and other natural products across the globe and is based in Salt Lake City. Kirkland & Ellis LLP served as legal advisor to Better Being.

12/22/2025 TPG Capital, LP agreed to acquire an unknown majority stake in Conservice, LLC. The terms of the transaction were not disclosed. Conservice provides managed utility services, including utility billing, expense management, and related consulting for property management and is based in River Heights. Goodwin Procter LLP served as legal advisor to Conservice, LLC.

12/23/2025 PV3 Enterprises, LLC acquired an unknown majority stake in Pica Rica BBQ. The terms of the transaction were not disclosed. Pica Rica is a restaurant specializing in smoked meats and Latin-inspired flavors and is based in St. George. PV3 is a family office based in Mountain Green.

12/31/2025 Silver Point Capital, L.P. acquired an unknown majority stake in Onset Financial, Inc. The terms of the transaction were not disclosed. Onset engages in equipment leasing and financing and is based in Draper.

Private Placements

12/1/2025 Reliance Network LLC announced that it has raised a round of funding from new investor Decathlon Capital Partners, LLC. Decathlon is a venture capital firm based in Park City.

12/9/2025 401GO, Inc. announced that it has received $33.0 million in a round of funding led by new investor Centana Growth Partners, LP with participation from Next Frontier Capital, Rally Ventures, and Impression Ventures. Based in West Jordan, 401GO provides 401k retirement plan solutions, including plan setup, administration, compliance, investment management, and participant education.

12/10/2025 Nestor AI, Inc. announced that it has secured $10.0 million in a round of funding from First Round Capital Management, LLC, Y Combinator Management, LLC, Orange Collective LLC, Pelion, Inc., Pioneer Fund, and other investors. Pelion is a venture capital firm based in Draper.

12/11/2025 Valinor announced that it has received $13.0 million in a round of funding led by new investor CRV, LLC with participation from Harpoon Ventures Management, LLC, Amino Collective, Pelion Venture Partners, and other investors. Pelion is a venture capital firm based in Draper.

12/15/2025 Intelli-Force Technology Corp. announced that it has received funding from new investor Decathlon Capital Partners, LLC, a venture capital firm based in Park City.

12/18/2025 Paramify, Inc. announced that it has received $12.0 million in its Series A round of funding led by Moore Strategic Ventures, LLC with participation from Album VC, Next Frontier Capital, and Frazier Group Management, LLC. Paramify is a risk operations platform for enterprise organizations and is based in Lehi. Album and Frazier are venture capital firms based in Lehi.