Utah Business is proud to present the 2023 year in review. This recap features notable news, M&A activity and closed funding rounds within Utah’s business community in April 2023.

News

Utah’s economic outlook tops the nation for the 16th time, according to the American Legislative Exchange Council’s annual report. The state’s competitive tax rates, responsible spending and pro-business policies contribute to its strong economic performance and optimistic future prospects.

Swig, a popular drive-thru drink shop and the “Home of the Dirty Soda,” celebrates the opening of its 50th store.

The Utah Inland Port Authority approves the creation of the Iron Springs Project Area, the state’s first rural inland port.

The Miller family and The Larry H. Miller Company convene to create Big League Utah, a coalition of Utah leaders and community members, to launch a campaign with the goal of bringing a Major League Baseball team to Salt Lake City.

The Utah Jazz sell out every game in the 2022-23 season, bringing the team’s consecutive game sellout total to 251 games.

A report prepared in partnership with the American Immigration Council and the Utah Governor’s Office of Economic Opportunity highlights the significant economic contributions of immigrants in northern Utah rural communities, emphasizing their role in addressing labor shortages and boosting various sectors.

Funding

M&A Activity

Acquisitions of Utah companies

• Gerflor acquires SnapLock Industries
• US Title Insurance Agency acquires American Secure Title Insurance Agency
• Victaulic acquires Horizon Metals
• Curaleaf acquires Deseret Wellness

Acquisitions by Utah companies

• Bestige Holdings acquires Liberty Compactors
• Clarke Capital Partners acquires Colossus
• Leavitt Equity Partners acquires Assisted Daily Living, Inc.
• Bridge Investment Group acquires Newbury Partners
• ATL Technology acquires Gyrus Medical
• Leavitt Group acquires Simmons Insurance Agency