MountainWest Capital Network released its 23rd annual Deal Flow Report, which provides an analysis of Utah's capital market and total number of transactions within the state.
The report revealed an increase in the number of capital transactions from 423 in 2016 to 514 in 2017, indicating Utahcompanies are involved in more transactions.
Notably, Utah's tech industry has continued to grow, with several companies becoming large enough to initiate transactions and acquire smaller businesses. Two Utah-based tech companies led mergers and acquisitions within the technology sector, with Ivanti's transactions totaling $1.1 billionand a single deal from Digicert, Inc. valued at $950 million.
"It's powerful to see Utah companies are now getting big enough to do more of the acquiring rather than being bought by out-of-state businesses," said Katie Chandler from Tanner LLC, chair of MWCN's Deal Flow Event. "As Utah's economy continues to grow stronger, it'll be interesting to see how capital transactions evolve in coming years."
The report also notes that the technology/software segment has the highest percentage of total transactions, but consumer retail has seen a six percent increase over the past three years. Younique LLC, Woodside Homes, Inc. and Nutraceutical International Corporation were all named in the top 10 mergers and acquisitions within the consumer retail category. The top three private placement transactions were all tech companies: Nikola Motor Company ($520 million), Qualtrics ($180 million) and Domo ($115 million).
The Deal Flow Report is published each year by MWCN, a nonprofit organization, to further its mission of fostering the dynamic flow of information about capital formation and distribution. It also serves to educate and mentor, recognize and reward successful business performance and relationship fostered through networking. It does not report on transactions that were either confidential or otherwise not publicly disclosed. The full 2017 MWCN Deal Flow Report can be viewed at: https://www.mwcn.org/deal-