Top 12 Financial and Business News Nuggets from the Second Half of May 2024 that You Might have Missed
{NOTE: This writeup includes news about 12 Utah-based firms and five executives.}
NEWS BRIEF: With a mere $15 Million Investment, PACS Group is Boosting its Footprint by Nearly 25% by Acquiring the Operations of 53 Healthcare Facilities in the Western U.S.
With the acquisition, PACS Group will see its footprint grow by nearly 25% to over 260 facilities, up from 218 facilities as of the end of the company's first quarter (ended 31 March 2024).
NEWS BRIEF: Enbridge has Completed its $4.3 Billion Acquisition of Questar Gas from Dominion Energy
Enbridge and Dominion Energy originally announced this three-part acquisition/sale on 5 September 2023.
Utah's Top 10 Monetary, Financial, and/or Business Stories of May 2024
In our opinion, these 10 stories represent Utah's Top 10 Newsmakers in May 2024 across the monetary / financial / business ecosystem.
NEWS BRIEF: A 240-Unit Apartment Complex in West Valley City, Utah has Traded Hands in a $32.5 Million Deal Between Two Large Utah-based Investors
Provo, Utah-based Peak Capital Partners recently paid $32.5 million to acquire a 240-unit apartment complex in West Valley City, Utah from Logan, Utah-based The Wasatch Group.
According to REBusiness Online, the acquired apartment complex — Crossroads Apartments — was built in 1986 and sits on nearly 11 acres at 2240 West
NEWS BRIEF: Two Utah Firms have been Awarded Multiyear U.S. Military Contracts Worth a Combined $56.6 Million
Two Utah-based firms have recently been awarded multiyear contracts by two branches of the U.S. military worth a combined $56.6 million.
The first is Ogden, Utah-based Automotive and Industrial Supply Company (AIS), which was recently awarded a three-year contract by the U.S. Air Force worth $46.6
Utah Set a New Record of at Least $39.2 Billion in Equity Deals in 2023 vs. the Previous High of $31.2 Billion Set in 2021, the Latest "Deal Flow Report" Says
M&A activity in Utah in 2023 represented over 91.3% of ALL known equity transactions that occurred in the state last year.