The Top 17 Utah-focused Monetary, Financial and/or Business News Nuggets from September 2024 that You Might have Missed

{AUTHOR'S NOTE: Clearly, not every news announcement deserves to be the top story of the day. Nevertheless, many news items are significant and should be acknowledged as such.

{In this writeup, you'll find info about 18 different Utah-based firms, 10 acquisitions, and nine separate executives, that we feel are newsworthy. This being the case, welcome to this writeup on Utah's Top 17 Monetary, Financial and/or Business News Nuggets from September 2024.}

Enclosed below (in no particular order), are Utah's 17 Top Monetary, Financial and/or Business News Nuggets from September 2024 that may not have hit your radar.

For example:

• Salt Lake City, Utah-based Beauty Industry Group (BIG) has hired Robert Schaeffler as Chief Executive Officer. According to the company news release, Schaeffler joins BIG from Vegamour, a holistic hair wellness industry leader. {NOTE: If you're not familiar with BIG, its website says it is "... a multi-brand, multi-channel platform offering both professional and do-it-yourself hair extension products."}
• Houston, Texas-based private equity firm, SCF Partners, has acquired Sandy, Utah-based DeltaValve from Burlington, Massachusetts-based CIRCOR International. According to the SCF news release, DeltaValve "... designs, engineers, and manufactures ... critical service equipment for delayed coking." Financial terms of the acquisition were not disclosed.
• Salt Lake City-based private equity firm, Tower Arch Capital, has recapitalized Denison, Texas-based ACS Manufacturing (in partnership with its founder, Dan Knox.) According to the Tower Arch news release, "... ACS is a specialty manufacturer of structural enclosures for mission-critical back up power systems primarily used in data centers, but also serve hospitals and utility campuses." Financial terms of the transaction were not disclosed.
• Lehi, Utah-based MyHeritage has acquired Quebec City, Quebec, Canada-based MesAieux.com. According to the news release announcing the acquisition, MesAieux.com is the "... most popular family history service (in Quebec), with over 1 million users." Terms of the acquisition were not disclosed.
• Chicago, Illinois-based Road Safe Systems has acquired Ogden, Utah-based All Star Striping. According to the acquisition news release, "All Star is a specialized pavement marking business that performs complex pavement projects throughout Utah and neighboring states." Terms of the acquisition were not disclosed.
• Lehi-based Nature's Sunshine Products (NASDAQ:NATR) has hired "... Kevin Fuller as (its) Global Chief Marketing Officer, effective September 23, 2024." According to the news release announcing the hiring, Fuller joins Nature's Sunshine from "... Helo Health where he served as President and Chief Marketing Officer." Earlier in his career, Fuller spent over 15 years with Provo, Utah-based Nu Skin Enterprises where he rose to the position of SVP Global Product & Brand (Acting CMO).
• St. Petersburg, Florida-based Raymond James Financial Services has added a new financial services advisory team in its Utah region that brings with it ~$1.0 billion in assets under management (AUM). According to a Raymond James news release, financial advisors Jaden Gurney, Trevor Hanson, and Jonathan Rogers have joined the RJFS team and will serve their clients from offices in Salt Lake City, St. George, and Richfield, Utah, respectively.
• Jeff Flake, former U.S. Ambassador to Türkiye (Turkey), former U.S. Senator from Arizona, and former U.S. Representative (also from Arizona), has been named as the new Chairman of World Trade Center (Utah). According to the news release announcing the appointment, Flake's career includes more than "... two decades of public service, including his time in the U.S. Senate ... from 2013 to 2019, where he served on the Foreign Relations, Energy and Natural Resources, and Judiciary committees." He also served in the U.S. House of Representatives for 12 years from 2001 to 2013.
• Salt Lake City-based Alsco Uniforms has acquired Brockton, Massachusetts-based Churchill Linen. According to the acquisition news release, with the acquisition, Alsco "... now has over 80 mixed-processing facilities in North America providing businesses with hygienically clean uniforms, linen, floor mats, mops, and first aid and restroom supplies." Terms of the acquisition were not disclosed.
• Salt Lake City-based Scorpion "... has acquired (Cincinnati, Ohio-based) Get Noticed Get Found, a digital marketing agency focused exclusively on law firms." According to the acquisition news release, Azim Nagree (Chief Strategy Officer of Scorpion), defined the acquisition by saying it "... reinforces our commitment to delivering best-in-class AI-based technology and services to a growing client base." Terms of the acquisition were not disclosed.
• Additionally, Scorpion also announced that it has promoted Saurabh Goyal to Chief Operating Officer (COO). According to the company news release, Goyal has been serving the company as Scorpion's President, a position he will retain in addition to his role as COO. Previously, Goyal spent over 17 years with Google, most recently as Global Head of Product Strategy & Sales Enablement.
• Lehi-based RainFocus has acquired Rocklin, California-based WebEvents Global. According to the acquisition news release, WebEvents Global is "... an established event technology and data analytics firm." Terms of the acquisition were not disclosed.
• Woods Cross, Utah-based Servi-Tech has been acquired by American Holt of Norwood, Massachusetts. According to the acquisition news release, Servi-Tech is "... a leading provider of aftermarket replacement parts for production machinery used in the beverage packaging industry." Terms of the transaction were not disclosed.
• Lehi-based DigiCert has completed its acquisition of Herdon, Virginia-based Vercara. According to the acquisition news release, DigiCert is jointly owned by three private equity firms: Clearlake Capital Group, Crosspoint Capital Partners, and TA Associates Management. DigiCert is a global leader in digital security solutions. Terms of the acquisition were not disclosed.
• Lindon, Utah-based PCF Insurance Services has acquired the insurance business of Snohomish, Washington-based Top Insurance Associates. According to the acquisition news release, this purchase marks the 15th insurance agency or business assets that PCF has acquired during 2024. Financial terms of the transaction were not disclosed by either party.
• Lehi-based CivicaScript, "... a nonprofit company dedicated to bringing lower-cost generic medicines to U.S. consumers ..." has hired Brent Eberle as its President. According to the company news release, Eberle joined CivicaScript from Navitus Health Solutions, where he was its Chief Pharmacy Officer. Eberle replaces Gina Guinasso, J.D., who left the organization in June.
• The Milwaukee, Wisconsin-headquartered law firm, Foley & Lardner, recently completed advisory services for Lehi-based ReferPro as it raised $2.7 million in a seed round of funding. According to the Foley news announcement, "The round was led by (Provo, Utah-based) RevRoad Capital, with participation from Upstream, (Lindon, Utah-based) Ollin Ventures, and strategic angel investors." According to ReferPro's website, its Software-as-a-Service platform integrates directly with many of the more popular CRM platforms used by its clients; this allows these companies to set-up automated text and email referral programs to incentivize their end-user customers to provide positive testimonials about various products/services.

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