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Finance

Providing perspective and contextual insights on the monetary aspects of the Finance industry within the state of Utah, from Banking to FinTech and from venture capital to cryptocurrency.

Salt Lake City-based Maverik Completes its Acquisition of Kum & Go and Solar Transport from Krause Group for a Reported $2.25 Billion

Salt Lake City-based Maverik Completes its Acquisition of Kum & Go and Solar Transport from Krause Group for a Reported $2.25 Billion

In under four months, Maverik — Adventure's First Stop, has more than doubled in size by acquiring the over 400 locations of Kum & Go, a midwestern fuel/convenience store chain producing $3 billion in annual revenue. Additionally, Maverik also acquired Solar Transport in the same transaction, a 60-year-old

Mea Culpa: Updating my Story About Swig's Move Into Franchising and Its Coming Transition to Multi-Unicorn Status

Mea Culpa: Updating my Story About Swig's Move Into Franchising and Its Coming Transition to Multi-Unicorn Status

AUTHOR'S NOTE: One week ago, 25 August 2023, I published this story on Utah Money Watch: "Swig Lands an Estimated $134 Million in One-Time Revenue as it Sells 250 New Stores to 12 New Franchise Partners." Unfortunately, several of the underlying financial assumptions included in that

Centerville-based TruGolf Continues Forward with its Plans for a SPAC Merger with Deep Medicine Acquisition Corp.

Centerville-based TruGolf Continues Forward with its Plans for a SPAC Merger with Deep Medicine Acquisition Corp.

If successful, the Special Purpose Acquistion Corporation merger is expected to close in the 4th Quarter of 2023, raise ~$96 million in new monies in the process, while also transforming the 30-ish-year-old TruGolf into a NASDAQ-listed, publicly traded company. Additionally, TruGolf has now disclosed its goal of tripling annual sales

Lehi-based Qualiti Raises $6.5 Million in Seed Round Funding to Support Software Programmers and Developers Everywhere

Lehi-based Qualiti Raises $6.5 Million in Seed Round Funding to Support Software Programmers and Developers Everywhere

With its focus on leveraging artificial intelligence to address Quality Assurance challenges with software code, Qualiti says its platform can help developers lower QA costs and time by 34% - automatically and without human intervention. Can one piece of software literally eliminate over one-third of internal costs? That's

Salt Lake City Approves ~$40 Million in Improvements for City Parks and Neighborhoods

Salt Lake City Approves ~$40 Million in Improvements for City Parks and Neighborhoods

The Salt Lake City Council has approved nearly $40 million of funding directed specifically toward nearly three dozen projects identified in the 2023/2024 Capital Improvement Budget. The CIP targets public properties of all types within city boundaries that require some type of construction work. The 34 different projects that

UPDATED: Swig Sells 250 New Stores to 12 New Franchise Partners

UPDATED: Swig Sells 250 New Stores to 12 New Franchise Partners

Swig expects to sell an additional 250 franchise locations before the end of 2023. Based upon industry estimates, plus Swig's own franchising disclosures, we feel this puts the brand on track to produce projected annual systemwide gross sales of over $225 million once the new units come online.

Murray, Utah-based Nursa Raises $80 Million to Continue to Address the Nation's Nursing Shortage.

Murray, Utah-based Nursa Raises $80 Million to Continue to Address the Nation's Nursing Shortage.

The business model for prospective entrepreneuers has remained virtually unchanged for centuries: Find a customer pain point and provide products/services to address/eliminate that pain. And "Yes," it really is that simple. Interestingly, the greater the pain suffered by a prospective customer (or set of target customers)