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Top 27 Utah-focused Monetary, Financial and/or Business News Nuggets for February 2025 that You Might have Missed

Top 27 Utah-focused Monetary, Financial and/or Business News Nuggets for February 2025 that You Might have Missed

In this writeup, you'll find info about 27 Utah-based firms and 19 separate executives that we feel we feel made the cut as "newsworthy" in February 2025. This being the case, welcome to this writeup on Utah's Top 27 Monetary, Financial and/or Business News Nuggets for February 2025.

Enclosed below (in no particular order within each section), are Utah's 28 Top Monetary, Financial and/or Business News Nuggets for February 2025 that may not have hit your radar.

For example ...

Financial News

Noted below are brief write-ups about two Utah-based firms that announced fundings in February of under $5 million each, as well as a third firm that announced a stock buyback program.

  • Salt Lake City, Utah-based iVeena Delivery Systems has closed a $3 million round of Series B-2 funding. According to the funding release, iVeena "... is a privately held, clinical stage ophthalmology company developing disease-modifying pharmacologic innovations for refractive diseases." Participants in the funding round were not disclosed by the company.
  • Salt Lake City-based EVŌQ Nano announced in February that it has received a strategic investment from Tony Robbins, a globally renowned bestselling author, motivational speaker, executive coach, and serial investor and entrepreneur. According to the company announcement, “Mr. Robbins’ global reach, business acumen, and passion for improving lives align perfectly with our mission. His support will be instrumental in advancing the development of our pioneering technology.” The amount or type of Robbins' investment into/with EVŌQ Nano was not disclosed.
  • Salt Lake City-based Zions Bancorporation (NASDAQ:ZION) has authorized a share buyback program for 2025 of up to $40 million. According to the Zions news release, the company had net revenue in 2024 (ended December 31) of $3.1 billion and had ~$89 billion of total assets. As per its most recent annual report (for fiscal 2024), filed 25 February 2025 with the U.S. Securities and Exchange Commission), Zions had 147.89 million shares outstanding.

Acquisition, Merger, Funding and/or Partnership News

Noted below are brief write-ups about 10 Utah-based firms that announced acquisition, merger, funding, and/or partnership news in February 2025 where the financial terms were not disclosed.

  • Kaysville, Utah-based Shipley Associates has received "growth-oriented investment(s)" from two private equity firms: Baltimore, Maryland-based Patriot Capital and Nashville, Tennessee-based Petra Capital Partners. According to the Shipley news release, and in connection with the investments, Shipley has entered into a "strategic partnership" with Haymarket, Virgina-based Lohfeld Consulting Group, "... a premier provider of capture and proposal management and training services." Both Shipley and Lohfield will maintain their independence, but will collaborate on business development efforts on a global basis. Financial terms of the investment transactions were not disclosed.
  • New York City-based The Thermal Group (TTG) has acquired Gunnison, Utah-based Applied Composite Technology Aerospace. According to the acquisition news release, ACTA is "... a leading manufacturer of advanced composite structures for the aerospace and defense industry." Financial terms of the transaction were not disclosed, although TTG is a portfolio company of New York-based private equity firm, Behrman Capital.
  • American Fork, Utah-based Advanced Bridge Inspections (ABI) has been acquired by Woburn, Massachusetts-based Infrasense. According to the acquisition news release, ABI is "... a specialized bridge inspection firm (that) deliver(s) cutting-edge concrete condition assessment services throughout the United States." Financial terms of the transaction were not disclosed.
  • Salt Lake City, Utah-based Alsco Uniforms has acquired Bethlehem, Pennsylvania-based MacIntosh Linen and Uniform Services. According to the Alsco news release, Alsco plans to fold Macintosh's existing fleet into the Alsco network, including the 14 existing Macintosh routes and over 800 customers in Pennsylvania and New Jersey. Through its over 135 years in business, Alsco not only invented the corporate uniform industry, but currently employs more than 16,000 employees out of 200 global locations and serves over 350,000 customers across 13 countries. Financial terms of the transaction were not disclosed.
  • Lehi, Utah-based Amplēo has acquired Peak Business Valuation of Salt Lake City. According to the Amplēo news release, Peak Business Valuation partners with more than 90 SBA lenders to assist "... small- and medium-sized businesses navigating valuation for transactions, litigation, growth strategies, and financial planning." Financial terms of the transaction were not disclosed.
  • Lindon, Utah-based Trucordia has acquired the insurance business of Danville, California-based Boater's Insurance Agency. According to the acquisition news release, Boater's "... specializes in providing insurance solutions and services within the marine industry." Financial terms of the transaction were not disclosed.
  • Salt Lake City-based SINTX Technologies (NASDAQ:SINT) has sold its Technology Assessment and Transfer (TA&T) subsidiary to Omaha, Nebraska-based Tethon Corporation. Although the SINTX news release explains that "... (t)he sale of TA&T also reduces corporate liabilities by $750,000 ...", it does not detail how much Tethon paid to acquire TA&T. However, that information is included in the SINTX Form 8-K it filed with the U.S. Securities and Exchange Commission; specifically, Tethon acquired TA&T "... in exchange for the assumption by Tethon of the outstanding liabilities of TA&T." In other words, $750,000; not a large enough amount to warrant a standalone write-up by Utah Money Watch, but large enough to warrant inclusion in this roundup report.
  • Midvale, Utah-based CHG Healthcare has acquired New York City-based CareerMD. According to the acquisition news release, CareerMD is "... platform to help physicians and healthcare providers enter the workforce and navigate their careers ...." and also "... host(s) more than 100 in-person career fairs at teaching hospitals across the country each year ...." Financial terms of the transaction were not disclosed.
  • Two Utah County family entertainment membership companies have merged. According to the news release announcing the merger, Lehi-based GetOutPass and American Fork-based Pogo Pass have joined forces to offer more options in "... individual and family memberships to access a variety of local entertainment and educational options, including zoos, water parks, amusement parks, museums, sporting events, and family entertainment centers." Post-merger the combined company provides services in "... 33 markets and 2,300 venues (and has) ... over 300,000 active passes." Financial terms of the merger were not disclosed nor the new name of the merged company.

News re. Executive Changes

Noted below are brief write-ups about 15 Utah-based firms that announced hirings/promotions of 19 senior executives.

  • American Fork-based LVT Technologies has added four new C-Level executives to its leadership team. Specifically,
    — Will Clive has been hired as Chief Human Resources Officer;
    — Ryan Gurney has been hired as Chief Information Security Officer;
    — Spencer Steed has been hired as Chief Revenue Officer; and
    — Taylor Wetzel has been hired as Chief Customer Officer.

    According to the LVT news release,
    — Clive joins LVT from Pluralsight where he was its Chief People Officer;
    — Gurney joins LVT from Looker/Google where he was its Chief Security Officer;
    — Steed joins LVT from Qualtrics where he was its Senior Vice President of Sales, Public Sector; and
    — Wetzel joins LVT from Qualtrics where he was its Senior Vice President of Customer Success.

Salt Lake City-based Myriad Genetics has announced two executive changes:

  • Sam Raha is being promoted to President and Chief Executive Officer (CEO) from Chief Operating Officer (COO), while
  • Mark S. Verratti is being promoted to COO from Chief Commercial Officer (CCO).

According to the company news release, Raha will also join the company's Board of Directors. His appointments coincide with the retirment Paul J. Diaz, who is stepping down to join private equity firm Cressey & Company as a Managing Partner.

These executive changes will take place on 30 April 2025.

Publisher's Note

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