2023 year in review: November
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 November 2023.
News
The Society of Hispanic Professional Engineers brings its prestigious national convention to Salt Lake City.
The International Olympic Committee names Salt Lake City as the “preferred host” for the 2034 Olympic and Paralympic Winter Games.
Rio Tinto Kennecott announces a donation of $10 million for the Museum of Utah, which is currently being built on the grounds of the Utah State Capitol complex.
Jason McGowan, CEO of Crumbl, named EY Entrepreneur Of The Year® US National Award winner.
The first annual Utah Business Forward conference is hosted at the Grand America hotel, featuring practical presentations by more than 35 Utah business leaders.
1-800 Contacts introduces SeekWell, a new parent company established to unify its diverse range of vision care services.
BioHive and BioUtah jointly release a comprehensive statewide and national industry analysis conducted by the Kem C. Gardner Policy Institute, finding that Utah has one of the fastest-growing life sciences sectors in the nation.
Savory Fund completes investment in Houston TX Hot Chicken (HHC). The chain currently operates 11 locations in six states: Arizona, California, Idaho, Nevada, Texas and Utah.
Salt Lake City Department of Public Utilities commissions a $73 million influent pump station and two $20 million force mains. This project, part of a larger $800+ million initiative, aims to replace the city’s aging water reclamation facility.
USANA Health Sciences, Inc. is awarded Manufacturer of the Year by the Utah Manufacturers Association for its second consecutive year.
Utah Global Diplomacy hosts a symposium highlighting sports diplomacy’s impact on building global bridges, connecting local communities, boosting local economies and addressing socioeconomic challenges.
Owlet, Inc. announces De Novo clearance from the FDA of Dream Sock, the first and only over-the-counter medical pulse oximeter for infants.
Intergalactic becomes the thermal management systems supplier for Eve Air Mobility. The selection comes as Eve Air Mobility prepares for the production of its electric vertical takeoff and landing (eVTOL) aircraft.
Investment firm Tower Arch Capital, LP announces the closing of “Fund III” with $750 million of capital commitments.
Funding
| Recipient | Funding Amount | Led By |
| Biolexis Therapeutics, Inc. | $10M | Clarke Capital |
| Luminous | $1.2M | North East Venture Fund, European Regional Development Fund |
| Ninety | $35M | Blue Cloud Ventures |
| PhotoPharmics | $16M | Kickstart Fund |
| Treads | $4.6M | Mucker Capital |
M&A Activity
Acquisitions of Utah Companies
- Sonic Healthcare acquires PathologyWatch
- Lane VC and Leviton Manufacturing Company acquire Serial 1
- FreshPure Waters acquires Arctic Mountain
- Lazydays Holdings acquires Rvzz
- Infowest acquires SunRiver Fiber Network
- Rodda Paint acquires Valley Paint Manufacturing
Acquisitions by Utah Companies
- Jaro acquires Dotty
- Protect Pharmaceutical acquires Bosfor Export
- ClientSuccess acquires Status
- Maschoff Brennan merges with Mauriel Kapouytian Woods
