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Finance

Providing perspective and contextual insights on the monetary aspects of the Finance industry within the state of Utah, from Banking to FinTech and from venture capital to cryptocurrency.

Salt Lake City-based Millburn & Company Acquires 276-Unit Apartment Complex in Arizona for $85.35 Million

Millburn has now acquired over $3.0 billion in multifamily real estate holdings during its 13-year history across nine states, with 8,725 doors "under management" today. EDITOR'S NOTE: During the short 10-week period since the formal launch of Utah Money Watch, we have been pleasantly

ICYMI: Utah's Top Eight Money Stories from the Second Half of August 2023

ICYMI: Utah's Top Eight Money Stories from the Second Half of August 2023

From the death of one of Utah's top inventors / technologists to an apparent new record set by Utah-HQ'd firms, we deliver our perspectives on each of the Top 8 Money Stories in Utah for second half of the month (August 16th through the 31st). AUTHOR'

Dominion Energy Agrees to Sell Questar to Enbridge for $4.3 Billion

Dominion Energy Agrees to Sell Questar to Enbridge for $4.3 Billion

Virginia-based Dominion Energy (NYSE:D) announced yesterday it is selling Questar to Calgary, Alberta-based Enbridge (NYSE:ENB) for $4.3 billion* ($3.0 billion in cash and $1.3 billion in assumed debt). According to Enbridge's Form 8-K filing with the U.S. Securities and Exchange Commission, Dominion

Salt Lake City-based Quotient Technology has Been Acquired in an All-Cash, $430 Million "Take Private" Transaction by New Jersey-based Neptune Retail Solutions

Salt Lake City-based Quotient Technology has Been Acquired in an All-Cash, $430 Million "Take Private" Transaction by New Jersey-based Neptune Retail Solutions

Roughly 10 weeks after the proposed agreement was initially disclosed, New Jersey-based Neptune Retail Solutions (with the backing of Charlesbank Capital Partners, its majority owner), announced yesterday, 5 September 2023, that it has closed its acquisition of Salt Lake City-based Quotient Technology (NYSE:QUOT) in a $430 million, all-cash, "

Salt Lake City-based Maverik Completes its Acquisition of Kum & Go and Solar Transport from Krause Group for a Reported $2.25 Billion

Salt Lake City-based Maverik Completes its Acquisition of Kum & Go and Solar Transport from Krause Group for a Reported $2.25 Billion

In under four months, Maverik — Adventure's First Stop, has more than doubled in size by acquiring the over 400 locations of Kum & Go, a midwestern fuel/convenience store chain producing $3 billion in annual revenue. Additionally, Maverik also acquired Solar Transport in the same transaction, a 60-year-old

Mea Culpa: Updating my Story About Swig's Move Into Franchising and Its Coming Transition to Multi-Unicorn Status

Mea Culpa: Updating my Story About Swig's Move Into Franchising and Its Coming Transition to Multi-Unicorn Status

AUTHOR'S NOTE: One week ago, 25 August 2023, I published this story on Utah Money Watch: "Swig Lands an Estimated $134 Million in One-Time Revenue as it Sells 250 New Stores to 12 New Franchise Partners." Unfortunately, several of the underlying financial assumptions included in that

Centerville-based TruGolf Continues Forward with its Plans for a SPAC Merger with Deep Medicine Acquisition Corp.

Centerville-based TruGolf Continues Forward with its Plans for a SPAC Merger with Deep Medicine Acquisition Corp.

If successful, the Special Purpose Acquistion Corporation merger is expected to close in the 4th Quarter of 2023, raise ~$96 million in new monies in the process, while also transforming the 30-ish-year-old TruGolf into a NASDAQ-listed, publicly traded company. Additionally, TruGolf has now disclosed its goal of tripling annual sales