UTAH M&A NEWS: Six Utah Firms are Acquired, While Two Utah-based Firms Purchase Other Companies
Over the past several weeks, eight separate Utah-based companies were acquired or they purchased other firms.
However, financial terms were not disclosed in any of these transactions.
Brief highlights of these eight transactions are found below.
Two Utah-based Firms Acquire Other Companies
Utah-based Convenient Brands Buys ROME Technologies
Draper, Utah-based Convenient Brands has purchased ROME Technologies of Pasadena, Maryland.
Financial terms of the transaction were not disclosed.
Convenient Brands describes itself as "... a family of business technology companies that provide enterprise-level software and integrated payment processing services."
Please visit the news release announcing the acquisition for more information on Convenient Brands and/or ROME Technologies.
Utah-based Executech Buys Dyrand Systems
South Jordan, Utah-based Executech has acquired Vancouver, British Columbia-based Dyrand Systems.
Financial terms of the transaction were not disclosed.
Executech helps organizations "... overcome IT challenges, improve efficiency, increase security, modernize into the cloud, and build for growth."
The company currently has over 100 technical consultants working out of six locations, two of which are now in Canada.
Please visit the news release announcing the acquisition for more information on Executech and/or Dyrand.
Six Out-of-State Companies Buy Utah-based Firms
Utah-based Hylon Koburn Chemicals is Purchased by a New Jersey-based Firm
Salt Lake City-based Hylon Koburn Chemicals has been acquired by Jersey City, New Jersey-based Imperial Dade.
Financial terms of the transaction were not disclosed.
According to the news release, HyKo has been a janitorial products distributor for over 60 years.
Conversely, Imperial Dade was formed over 85 years ago and now has over 100 locations nationwide.
Utah-based Casper's Ice Cream is Acquired by New York Private Equity Firm, MidOcean Partners
Richmond, Utah-based Casper's Ice Cream (makers of the intergalactically famous FatBoy ice cream bar), have been acquired by MidOcean Partners, a New York-based private equity firm.
Financial terms of the transaction were not disclosed.
Since its founding in 1925, family-owned Casper's has become one of the leading regional purveyors of frozen novelty products, not just in its native Cache Valley in northern Utah or the "state of Silicon Slopes."
According to the news release, MidOcean plans to take the FatBoy brand of ice cream products nationwide.
Utah-based Rocky Mountain Mechanical is Acquired by Detroit-based Pueblo Mechanical & Controls
South Salt Lake, Utah-based Rocky Mountain Mechanical has been acquired by Detroit, Michigan-based Pueblo Mechanical & Controls.
Financial terms of the transaction were not disclosed.
Formed over 30 years ago, RMM is "... a leading provider of plumbing, controls and HVAC installation and retrofit/repair services across Utah ... "
Please visit the news release announcing the acquisition for more information on RMM and/or Pueblo.
Sotheby's International Realty Expands by Acquiring Utah-based Byrd & Co.
Moab, Utah-based Byrd & Co. has been acquired by Sotheby's International Realty, providing a new foothold in southeastern Utah for the real estate giant.
Financial terms of the transaction were not disclosed.
Sotheby's global realty footprint spans more than 1,000 offices located in 77 countries and territories worldwide,
Please visit the news release announcing the acquisition for more information on Byrd & Co. and/or Sotheby's International Realty.
Arizona-based Highway 89 Ventures has Acquired Two Utah-based ISPs
Bountiful, Utah-based Moreo Networks and Salt Lake City-based Vicidiem were recently acquired by Highway 89 Ventures, along with two other Internet Service Providers (ISPs).
Financial terms of the transactions were not disclosed.
According to the news release, post-acquisition Highway 89 has created a single-source bulk internet solution for multi-family developers under the Moreo Networks brand.
With the acquisitions, Moreo Networks now provides services to more than 400 properties in 18 states in the western half of the United States.
Utah-based Uinta Brewing has been Acquired by US Beverage Joint Venture
Salt Lake City-based Uinta Brewing has been acquired by a joint venture of Stamford, Connecticut-based US Beverage.
Financial terms of the transaction and details about the joint venture were not disclosed.
Please visit the news release announcing the acquisition for more information on Uinta Brewing and/or US Beverage.
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 UTAH 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).