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Utah Money Watch provides perspective and contextual insights on all monetary aspects of the Services marketplace within Utah, from accounting to consultants and from legal to information technology.

Peterson Partners Raises $510 Million Continuation Vehicle for Draper-based Kelso Industries, Extending its Bet on a $1 Billion-plus Revenue Business

Peterson Partners Raises $510 Million Continuation Vehicle for Draper-based Kelso Industries, Extending its Bet on a $1 Billion-plus Revenue Business

EXECUTIVE SUMMARY ✅ Utah-based Peterson Partners has raised $510 million for a single-asset continuation vehicle centered on Draper, Utah-based Kelso Industries, allowing the investment firm to extend its ownership of the rapidly growing mechanical, electrical and plumbing (MEP) services company. ✅ New York City-based NorthSands Capital committed more
David Politis
Midvale, Utah-Based Bamboo Insurance is About to Conduct a "Surprise" IPO, Raising up to $700 Million with a Target Valuation of Up To $3.24 Billion

Midvale, Utah-Based Bamboo Insurance is About to Conduct a "Surprise" IPO, Raising up to $700 Million with a Target Valuation of Up To $3.24 Billion

EXECUTIVE SUMMARY ✅ Midvale, Utah-based Bamboo Insurance Services is launching an initial public offering of 35 million shares at an expected $18–$20 per share, potentially generating $630 million–$700 million for existing shareholders and producing a fully diluted equity valuation of up to approximately $3.24 billion. ✅ Bamboo itself
David Politis
NEWS OF NOTE No. 6: University of Utah Health Wins a $30 Million R&D Grant; Utah-based IntelliPay is Acquired for up to $15 Million; Quantizr Raised $5 Million; Murphy Door Acquired MHD; Plus Broad Higher Education Tightening and Major C-Suite Shifts

NEWS OF NOTE No. 6: University of Utah Health Wins a $30 Million R&D Grant; Utah-based IntelliPay is Acquired for up to $15 Million; Quantizr Raised $5 Million; Murphy Door Acquired MHD; Plus Broad Higher Education Tightening and Major C-Suite Shifts

EXECUTIVE SUMMARY ✅ University of Utah Health has secured a $30 million federal research grant to lead a multi-center study about Alcohol Withdrawal Syndrome; ✅ Salt Lake City-based IntelliPay has been bought for up to $15 million by Priority Technology; ✅ Park City, Utah-based Quantizr has raised $5 million Seed
David Politis
26 Startups, Three Minutes Each, Pitching for Dollars at Kinect Capital’s 43rd Investors Choice Conference this Thursday, September 3rd

26 Startups, Three Minutes Each, Pitching for Dollars at Kinect Capital’s 43rd Investors Choice Conference this Thursday, September 3rd

EXECUTIVE SUMMARY ✅ Twenty-six companies are scheduled to make three-minute investor pitches on Thursday, Sept. 3 during the 43rd annual Investors Choice Conference produced by Salt Lake City-based nonprofit Kinect Capital. ✅ The field stretches across AgTech, AI, biocomputing, ClimateTech, consumer products, energy storage, medical devices, pharmaceuticals, robotics, VR,
David Politis
NEWS OF NOTE No. 5 — Carlyle Acquires a Utah Defense-Tech Firm, College Football, a National Bank Moves its Headquarters to Utah, Plus Executive Moves Across Higher Education, Manufacturing, Venture Capital and More

NEWS OF NOTE No. 5 — Carlyle Acquires a Utah Defense-Tech Firm, College Football, a National Bank Moves its Headquarters to Utah, Plus Executive Moves Across Higher Education, Manufacturing, Venture Capital and More

EXECUTIVE SUMMARY ✅ Carlyle Group has acquired Centerville, Utah-based defense-technology firm Secturion Systems, making the Utah company the first investment by Carlyle's new dedicated middle-market Aerospace, Defense / Government and Industrials platform; ✅ Brigham Young University Athletics and Lehi-based Entrata have signed a multi-year agreement making
David Politis