UTAH M&A NEWS: EnergySolutions, foreUp, and Western Heating & Air- with a Sprinkling of Real Estate

TriArtisan Capital Advisors gains majority ownership of EnergySolutions

You might not know much about EnergySolutions besides its contribution to housing the Jazz in the EnergySolutions Arena from 2006 to 2015, but the Salt Lake City-based company is a major leader in international nuclear services.

EnergySolutions current majority shareholder, ECP, has signed an agreement with TriArtisan Capital Advisors LLC to acquire the remaining ownership interest. ECP has been a majority shareholder since 2013 and in 2018 sold a significant chunk to TriArtisan. Terms of the transaction were not disclosed, but it's pretty safe to say it was a biggie.

Housing still on the rise in Utah: Marble Partners Acquires 108-Unit in Layton, Utah

Multi-family units are on the rise in the Beehive State, and Marble Partners is paying attention. The company acquired Eastgate at Greyhawk, a community in Layton, Utah, just 24 miles North of Salt Lake City.

Keller Investment Partner did the selling at an undisclosed price, and the future community will feature 108 apartments, a swimming pool, playground and covered parking.

Western Heating & Air acquired by Friendly Group

Home services company Friendly Group announced the acquisition of Western Heating & Air, making this the third home services company in Utah owned by Friendly Group.

With branches in both Orem and Lehi, Western Heating & Air has been a strong contender in the HVAC world.

"Western is an ideal fit with the Friendly Group's vision, culture, and growth strategy" said Michael Rubel, Managing Director, RFE Investment Partners and Friendly Group Board Member. "We are excited to partner with Ryan and work with his team to achieve Western's full potential."

foreUP acquires 121 Marketing

Yes, golf courses need software too. Cloud-based operational software company foreUP has announced the acquisition of 121 Marketing.

Based in Pleasant Grove, Utah, foreUP serves nearly 2,500 golf courses across the United States and Canada in total. The acquisition will expand an already strong company and enable better coverage for golf courses big and small.

Arthur J. Gallagher & Co. acquires Real Estate Insurance Solutions

Yes it's real estate, but settle down, this is real estate insurance for brokers.

Park City-based Real Estate Insurance Solutions "...offers real estate errors & omissions insurance/cyber liability to commercial and residential real estate agents and brokers, business brokers, appraisers, home inspectors, title insurance agents, mortgage brokers, leasing agents and property managers in 32 states." (Gallagher & Co. press release)

Current Real Estate Insurance Solutions associates will remain in their current Park City location under the direction of Kevin Garvin, head of Gallagher Affinity.

AUTHOR'S NOTE:  Twice monthly we group together information about mergers and acquisitions by (and of) Utah-based organizations into one combined story under the banner of  M&A NEWS.

These brief write-ups focus on transactions where financial terms are not disclosed; as such, the articles are designed to help keep you, our readers, informed of relevant news and activities in the business community of Utah regardless of the level of disclosure (or lack thereof).

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