Industry Briefs 2-5-24

Industry Briefs are provided as a free service to our readers. Company news information may be sent to brice.w@thecityjournals.com. The submission deadline is one week before publication.

ACCOUNTING

• CLA (CliftonLarsonAllen LLP) has hired Matthew Bartholomew as a principal in its Salt Lake City office. Bartholomew’s area of focus is transaction advisory services. Much of his client work throughout his career has centered on buy-side and sell-side financial due diligence services, including quality of earnings, purchase agreement advisement, net working capital, and other client advisory services for middle-market investors and buyers in the Greater Salt Lake City area and around the country.

ASSOCIATIONS

• Dr. José Rodríguez, a family physician in Salt Lake City, has been appointed president of the Family Physicians Inquiries Network. Rodríguez will work to plan and execute FPIN strategies. He will serve as an ambassador for the organization, connecting with other family medicine organizations, developing board liaisons, and participating in other organizations’ board committees as appropriate. Rodríguez will serve ex officio on the Finance Committee, Membership and Education Committee and editorial groups, in addition to his current roles as a Membership-at-Large Board member and on the aBIDE (accountability for Belonging, Inclusion, Diversity and Equity) committee. Rodríguez is a tenured professor in the Department of Family and Preventive Medicine at the University of Utah, where he also serves as associate vice president for health equity, diversity and inclusion for the academic units and the health system. He is co-founder and co-director of the STFM Leadership through Scholarship Fellowship, which is designed to teach writing skills to early-career family medicine faculty to advance their careers. The FPIN network currently serves 175 family medicine residency programs and departments in the United States, Canada and China. Its primary mission is to provide quality education and professional development to primary care clinicians to practice evidence-based medicine and produce scholarship.

BANKING

• D.L. Evans Bank has appointed Doug Lund as vice president branch manager at its Orem branch in the University Place Mall. He will oversee the operations of the branch while managing resources and staff, developing and attaining sales goals, delivering customer service, and growing the location’s revenues. Lund has over 13 years of business banking and commercial lending experience and over 17 in overall banking experience. He has been a branch manager for 12 of those years and a commercial portfolio manager for over three years.

CONTESTS

• RevRoad, a Provo-based partner for scaling companies, has announced the RevRoad Entrepreneur Competition, set to take place March 2. The event is designed to be a showcase of entrepreneurial talent while offering these founders the chance to win substantial prizes and exposure. The top prize is $15,000. The RevRoad team will thoroughly review each application and select the 36 most promising companies to face off live on competition day. Applications are being accepted at ecomp.revroad.com.

ECONOMIC DEVELOPMENT

• The Economic Development Corporation of Utah has hired Rex Buys as business development manager and Justice Russell as marketing event specialist. Buys previously created and exited his own business and worked in commercial real estate development. He earned a degree in finance at Brigham Young University. Russell previously worked as an events director at Backyard Media, where she managed a variety of events from concerts and fundraisers to community festivals.

ECONOMIC INDICATORS

• Utah is No. 3 on a ranking of states where the average employee in Utah is willing to forgo part of their annual salary to not have to commute again this year, according to a study by Volvo Cars Coconut Creek. The amount in Utah is $12,843. The highest number is in California, at $13,759. The lowest is in Montana, at $429. Details are at https://www.gunthervolvocars.net/salary-sacrifice.htm.
• Salt Lake City is ranked No. 33 and West Valley City is No. 197 on a list of “Best Bachelor Party Destinations for Golfers,” compiled by LawnStarter. It compared the 200 biggest U.S. cities based on golfer-friendliness, bachelor party-friendliness, and hangover cure index, among 12 total metrics. The top-ranked city is Las Vegas. The No. 200 city is Pasadena, Texas. Details are at https://www.lawnstarter.com/blog/studies/best-golf-bachelor-party-destinations/.
• Salt Lake County is No. 24 on a list of “snowiest counties” in the U.S., compiled by Lawn Love. It compared 256 counties by historical snowfall records, including annual snowfall, one-day and three-day records. It also considered the average historical annual temperature and the number of days with temperatures below freezing. The top-ranked area is the Valdez-Cordova Census Area in Alaska. The No. 256 county is Monroe County, Florida. Details are at https://lawnlove.com/blog/snowiest-counties/.

EDUCATION

• Dr. Julio Delgado has been selected to be the inaugural chair of the Harry R. Hill, M.D., Presidential Endowed Chair in the University of Utah Department of Pathology. Delgado is executive vice president at ARUP Laboratories and vice chair and chief of clinical pathology at the UofU. Delgado served as ARUP’s chief medical officer during the COVID-19 pandemic and served as co-executive director of the ARUP Institute for Clinical and Experimental Pathology from 2013 to 2015. Hill, an immunologist and co-founder of ARUP, recruited Delgado to join ARUP in 2006 as a medical director in the immunology department. Hill retired from the UofU and ARUP in 2021.

FOOD

• Swig, a Lehi-based beverage brand, has named Bill Ayersits chief financial officer. Ayers has over 20 years of experience in corporate finance and investment banking, most recently serving as global vice president of finance for Black Diamond. Prior to that, he held leadership positions at 1-800 Contacts and worked in the banking industry at HSBC and BMO Capital Markets.

GOVERNMENT

• The Utah Board of Pardons and Parole has been approved for a first-ever partnership with the Center for Effective Public Policy and the Bureau of Justice Assistance, a division of the U.S. Department of Justice, to provide essential technical assistance, resources and training that will fortify the practices of the board. The partnership is designed to be a significant step forward in enhancing the board’s ability to make informed decisions and promote public safety throughout Utah. Going forward, the board will have access to a wide range of resources, including training and webinars, on-site and virtual technical assistance, self-assessment tools, relevant research and emerging strategies, peer networks and learning sites, and funding opportunities.

HEALTHCARE

• PACS Group Inc., a Farmington-based holding company investing in post-acute healthcare facilities, professionals, and ancillary services, has named Derick Apt as chief financial officer, succeeding Mark Hancock, who held that position since co-founding PACS in 2013. Hancock will continue to be involved in the company’s executive management in his new role as executive vice chairman. Apt joined PACS in 2018, first as vice president of finance and treasury, and most recently as chief investment officer. Prior to PACS, he was the treasury and finance manager at Vivint Inc. Before Vivint, he held positions in treasury departments at Intermountain Healthcare and Goldman Sachs. Also, PJ Sanford has been named president of PACS Services, a PACS Group subsidiary that provides a suite of technology and administrative support services to healthcare facilities. Sanford has been with the company since its founding, first as the administrator of one of the company’s original facilities, and then in executive management roles with a focus on PACS Services operations.
• A report from the American Lung Association urges Utah lawmakers to focus on increasing tobacco taxes as part of the effort to reduce the burden of tobacco use. The 2024 “State of Tobacco Control” report evaluates state and federal policies on actions taken to eliminate tobacco use and recommends tobacco control laws and policies to save lives. Utah received an A grade for funding for state tobacco prevention programs, a B for strength of smokefree workplace laws, a C for coverage and access to services to quit tobacco, and Fs for the level of state tobacco taxes and ending the sale of all flavored tobacco products.

HOSPITALITY

• Lodging Dynamics Hospitality Group, a Provo-based hotel management company, has been appointed to manage the Homestead Resort in Midway. It has 125 recently renovated guest rooms, a golf club, crater hot springs, a collection of restaurants, and other amenities.

INTERNATIONAL

• World Trade Center Utah and the Governor’s Office of Economic Opportunity are accepting applications through Feb. 23 from companies interested in participating in a trade mission to Canada, set for May 25-31. Gov. Spencer Cox will lead the mission to Toronto and Montreal. Utah companies and organizations in cleantech (mining, energy, power, water, agriculture and manufacturing), AI and SaaS, and healthcare and medtech are particularly encouraged to apply. The cost is $3,000 (does not include travel expenses and lodging). Eligible companies can apply to receive funding from the U.S. Small Business Administration's State Trade Expansion Program Grant. Details are at https://www.wtcutah.com/tradeevents/canada-trade-mission-2024.

INVESTMENTS

• Wingspan, a new Lehi-based venture studio, has announced its launch with two investments and a partnership with Tech9, a custom software development company. Wingspan offers entrepreneurs a new model for company creation: an institutional co-founder that provides both capital and a turn-key team of product strategists, designers, engineers, marketers and recruiters. Wingspan invests $1 million to $2 million in each venture as a mix of cash and services in exchange for a minority stake in the company. It aims to build 25-30 companies over the next decade, requiring that it raise a fund in the next 18-24 months. Wingspan’s first investments are an acquisition of Volley, a video messaging app, and a partnership with Tactic, a hybrid workplace management app. Tech9 helps clients achieve success through expertise, competitive pricing and a “Tech Happily” culture.
• Opiniion, a Lindon-based resident satisfaction company, has completed its Series A funding round. The amount was not disclosed. The investment was led by Five Elms Capital, which provides growth investments to market-leading, high-growth software companies.

MILESTONES

• DigiCert, based in Lehi, and CI Plus LLP have announced that DigiCert CI Plus certificates have been issued to more than 1 billion devices, providing common trust standards across the television industry ecosystem. The CI Plus (Common Interface Plus, or CI+) technical specification is an extension of the original Digital Video Broadcasting (DVB) common standard that provides additional protection for pay-TV content. It gives pay-TV broadcasters in Europe a method to deliver protected services directly to TV sets without the need for an additional set-top box.
• Altitude Lab, a Salt Lake City-based incubator focused on early-stage life science and healthcare companies, has announced that its incubating startups raised over $120 million in early-stage funding since beginning operations in 2020. Altitude Lab was founded by clinical-stage techbio company Recursion. The Recursion Foundation, under which Altitude Lab operates, is a nonprofit organization. Altitude Lab also announced the launch of the Chris and Summer Gibson Founder Fellowship, a funding opportunity to enable early-career scientists to launch their own startups. The fellowship offers up to $100,000 in funding, scientific tools and laboratories, and monthly mentoring with Chris Gibson to two fellows each year. Fellows must be within 12 months of finishing their training to qualify for the fellowship. The application period is open until April 12. Details are at altitudelab.org.

NONPROFITS

• Utah Food Bank has opened a 77,032-square-foot facility in Springville to help it respond to the increased need for food assistance in central Utah and Utah County. It acquired the 14.17-acre parcel in 2021 that now houses Utah Food Bank Timpanogos Distribution Center. It will help Utah Food Bank better serve the 71,670 central Utah residents. It includes 50,364 square feet of warehouse and commercial kitchen space, and 26,668 square feet of office and conference room space. The food bank also plans to open a warehouse with attached pantry in Blanding, two pantries on the Navajo Nation, and a pantry in Hurricane this year.
• The Utah Foundation, a nonprofit, nonpartisan public policy research organization, has announced its 2024 leadership team for its board of trustees. Annalisa Holcombe, senior vice president of advancementatWestern Governors University, has been appointed board chair. Holcombe has 20 years of experience in higher education. The other appointed officers are Kelly Mendenhall, director of regulatory and pricing at Dominion Energy, vice chair, who previously served as fundraising chair and secretary; Benjamin Brown, manager of public affairs at Fidelity Investments, treasurer; and Carlton Christensen, board chair of the Utah Transit Authority, fundraising chair and secretary, who previously served as chair of the events committee. The outgoing officers are Art Turner, vice president and general manager of Enterprise Holdings, who served as board chair; and Rich Lambert, regional vice president at Wells Fargo, who served as treasurer.

REAL ESTATE

• Mountain West Commercial Real Estate, a commercial real estate firm that specializes in brokerage, property management, development services and capital markets, has hired Jesse Smith as president of Management Services. The new platform will offer property owners and investors a suite of tools designed to streamline management, enhance property performance and make informed decisions. Smith has worked in office, industrial and retail property management since 2012. Prior to joining Mountain West, he worked for Hines, Newmark and a boutique firm in Salt Lake City. He earned a bachelor of science degree in facility and property management from Brigham Young University and a Master’s of Real Estate Development degree from the University of Utah.

RECOGNITIONS

• JBS USA, a food company with customers in about 100 nations and a majority shareholder of poultry producer Pilgrim’s, has been awarded 2023 Processor of the Year honors by Food Processing magazine. The company has nearly 1,500 workers in Hyrum, along with more than 67,000 U.S. employees.

RESTAURANTS

• Pepper Lunch, a fast-casual concept, has announced that Gemba Partners has signed on to develop five units over the next three years in Utah, with the first location planned to open in this year’s fourth quarter. Gemba Partners is owned and operated by Utah residents Charles and Catherine Johnson. Charles Johnson’s career spans multiple startup restaurants, with 22 years dedicated to operating and growing PF Chang’s. He started as an hourly team member and advanced to regional vice president of operations, ultimately leading a region of more than 60 restaurant locations in the western United States. He also was chief operations officer at Lemonade and Burger Lounge. Catherine Johnson worked her way through school in the restaurant industry leading to multiple roles in operations, finance/accounting, and learning and development, opening over 25 new restaurants for the PF Chang’s brand during its rapid expansion. She also was instrumental in the opening of St. Regis–Deer Valley in Park City, operating Jean George Grill and ultimately transitioning into the catering side of the business. She later served as director of catering at The Beverly Hills Hotel. Established in 1994, Pepper Lunch has more than 500 locations in 15 countries.

SERVICES

• Tommy’s Express, a Michigan-based national car wash brand, has broken ground on the brand’s second location in Utah, at 309 E. Crossroads Blvd., Saratoga Springs. It is scheduled to open this summer. The company has more than 185 franchise locations in the U.S.

TECHNOLOGY

• Hh2 Cloud Services, a Kaysville-based provider of software for the construction industry, has appointed Aaron Brandwein as chief revenue officer and Geoff Gohs as chief technology officer. Brandwein has more than 25 years of experience leading large, high-performing private equity-backed portfolio companies and other privately held companies. Previously, he served as chief revenue officer at Net Health and Optima Healthcare Solutions, and as executive vice president of sales and marketing at Homecare Homebase. Gohs joins Hh2 from Gaggle, where he served as chief technology officer, having previously held the same position at LINQ and XiLi Mobile. He also served as vice president of engineering at both Apiture and Live Oak Bank. Hh2 is backed by Capstreet, a Houston-based, lower middle market private equity firm.
• Troomi Wireless, an Orem-based company offering safe smartphone solutions for children, has added Jean Twengeto its advisory board. Twenge is a researcher, professor of psychology at San Diego State University, and author of more than 180 scientific publications and books.
• FireFly Automatix, a Salt Lake City-based company focused on turfgrass mowing technology, has appointed Max M. Yzaguirre as strategic advisor to CEO Andrew Limpert at the company board of directors. Yzaguirre has more than 35 years of leadership experience in domestic and international business, government and law, and expertise in industries including electricity, oil and gas, banking, real estate, telecommunications and private equity investing. He has served and currently serves on the boards of directors of public, private and nonprofit organizations. In addition to advising FireFly, Yzaguirre serves on the boards of Altria Group Inc., Aris Water Solutions Inc. and Luther Burbank Corp.