May 12, 2014

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Report Shows 2013 was Biggest Year for Deal Flow

Press Release

May 12, 2014

Salt Lake City—MountainWest Capital Network has released the 19th annual Deal Flow Report, which represents 426 deals totaling more than $12.5 billion in mergers and acquisitions, public offerings, private equity and venture capital financing transactions in Utah for 2013.

“This is the largest year ever for deal flow activity in Utah and the trend is continuing on an upward slope,” said Drew Yergensen, vice president and senior relationship manager at KeyBank and chair of the 2013 Deal Flow Committee. “Utah continues to showcase its depth and expertise in software applications, which has been the leading sector for several years.”

The deal flow mix is comprised of a variety of industries and market segments, with software leading the others:

Software: 18 percent

Healthcare: 14 percent

Services: 12 percent

Consumer/Retail: 8 percent

Tech: 8 percent

Financial Services: 4 percent

Leisure: 4 percent

Biotech: 3 percent

Communications: 3 percent

Construction/Engineering: 3 percent

Pharma: 3 percent

Chemicals: 3 percent

Food: 3 percent

Education: 2 percent

Other: 5 percent

In terms of mergers and acquisition activity, favorable credit markets and increased corporate cash and private equity capital pushed the number of deals up sharply to 173; however, the sizes of the transactions are lower overall, comprising $5.9 billion in 2013 as opposed to $10.1 billion in 2012. The number of private placements was up from 178 in 2012 to 231 in 2013 and placements went from $800 million to $1.2 billion respectively. The largest M&A transaction was by Huntsman with the purchase of Rockwood for $1.38 billion.

“Eight out of the top ten M&A transactions were conducted by out of state entities acquiring Utah businesses,” said Reed Chase, an audit partner at Tanner LLC and president of MWCN. “The high-profile transactions seen in Utah demonstrate a reflection of the confidence that companies, institutions and investors have in the Utah economy.”

The Deal Flow Report is published each year by MWCN. It does not contain information on transactions that were either confidential or otherwise not publicly disclosed.

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