Industry Briefs 2-19-24

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

• Squire, an Orem-based accounting firm, has promoted three people to partner: Andy Nelson and Nate Nugent in the advisory department, and Jennie Greene, part of the firm’s tax department since 2012. Nelson joined Squire in 2019 and Nugent joining in 2017, with playing instrumental roles in delivering advisory services. Greene is the first female partner in tax at Squire. Operating for more than 50 years, the firm has locations in Orem and downtown Salt Lake City.

ARTS

• The final steel beam has been raised into place at the Ruth and Nathan Hale Theater in Pleasant Grove, marking completion of the building’s main structure and passing the halfway mark on construction. Hale Center Theater Orem is marking its farewell season after 33 years. It broke ground on the new theater just over a year ago. The fundraising campaign for “The Ruth” is ongoing, and funds raised are directed to the completion of the building as well as to support current and future operating costs for the theater. The new building will more than double the capacity for the main proscenium-thrust stage with 670 seats and will allow for a completely “in-the-round” theater. It will also include a second performing space with flexible seating for youth productions and smaller shows. It will also feature an education wing to house the Ruth Academy for the Performing Arts, which provides arts education for youth and adults. The Ruth and Nathan Hale Theater is set to open to the public in January of 2025.
• The Salt Lake City Arts Council’s Public Art Program has selected Haddad/Drugan, a Seattle-based studio comprised of Laura Haddad and Tom Drugan, for the 400 South Viaduct Trail project. The corridor links Salt Lake City’s West and East sides from 900 to 300 West. The placemaking project aims to establish a bold visual identity while centering the safety of pedestrians, bicyclists, and people using mobility devices. Haddad and Drugan have worked on various transportation projects across the United States. The studio was selected out of 72 artists following a request-for-qualifications process. The 400 South Viaduct Trail project will be designed through the end of 2024 and construction is expected to begin in 2025.

ASSOCIATIONS

• AdvaMed, a medical technology association, has announced that Kelvyn Cullimore will serve as the next chair of the State Medtech Alliance. Cullimore is president and CEO of BioUtah. The alliance is a consortium of state and regional trade associations representing their local medical technology companies. Cullimore has served as president and CEO of BioUtah since 2018. Prior to that, he served as CEO and director of Dynatronics Corp., a publicly traded medical device manufacturer, and on the board of the Medical Device Manufacturers Association.
• Ryan Smith, founder and CEO of Recyclops Inc., was recently named to the National Small Business Association Leadership Council, a nonpartisan small-business advocacy organization that works to promote the interests of small business to policymakers in Washington, D.C. Recyclops builds landfill diversion programs for communities and brands, diverting approximately 1 million pounds of material away from landfills every month. Founded in 2014, it operates in 30 states.
• The Heber Valley Chamber, Tourism and Economic Development office has awarded 13 projects with Special Event Cooperative Marketing Grants. The grant program aims to leverage Wasatch County transient room tax to bolster economic development and tourism in Heber Valley. The TRT funds are designated exclusively for marketing and advertising efforts outside of Wasatch County. The office received 14 applications, and the grant disbursement totals $70,000. Applicants are eligible for a 50 percent match of their total marketing cost. Grants typically range from $500 to $2,500 per applicant. Award recipients are Soldier Hollow Classic Sheepdog Festival; two events at Soldier Hollow, IBU World Cup & Bike Fest; Heber Valley Red, White & Blue Festival; Heber Valley Horse Sale; High Valley Arts’ “Fiddler on the Roof”; Fairy Tale Christmas; Intermountain Championships Pow Wow; Simple Treasures Boutique; UBRA Futurity & Open 5D events; Park City Sailing Association’s annual Fall Regatta; D1 Sports’ girl’s fast-pitch softball tournament; and the High School Rodeo Association.

BANKING

• FinWise Bancorp., the Murray-based parent company of FinWise Bank, has promoted Robert Keil, chief fintech officer, and Richard Thiessens, chief technology officer, to executive vice presidents. Keil joined FinWise in 2023 as senior vice president and chief fintech officer, leading existing customers, business line strategy and growth initiatives within the bank’s Strategic Programs line of business. Keil has over 25 years of experience in payments and the banking-as-a-service industry. Prior to joining the bank, he was senior vice president and chief payments officer at Sutton Bank. Prior to that, he served as vice president of fintech and emerging payments at Fiserv, as well as various roles with US Bank and Wells Fargo. Thiessens joined FinWise in 2019 and has served as senior vice president and chief technology officer since 2021. He oversees the company’s information systems, cybersecurity, data services and project management. His career spans more than two decades in information technology. Prior to joining FinWise, he co-founded Array Technology, an IT services and security consulting company that was rebranded to become Braintrace and ultimately acquired by Sophos. He also led the infrastructure, data and cyber security teams at EnerBank USA.

CONSTRUCTION

• The West Point Cannery, built in 1925, has been disassembled and rebuilt at Blacksmith Village in Eden using its original materials. An Eden-based investor and owner of Blacksmith Village and Sunnyfield Farm purchased the cannery to prevent its demolition in 2015. The facility in West Point was primarily used for canning locally grown tomatoes and was in continual operation through the 1950s. Every element from the original site waited in storage until 2022 when the disassembled cannery pieces were brought to Eden. Approximately 80,000 original bricks and about 80,000 pounds of reclaimed wood were saved and have been used in the cannery reconstruction effort. Modifications were made to adhere to modern building standards and codes. The completed structure occupies 7,500 square feet. Project completion is expected this month.
• J&S Mechanical Contractors Inc., a West Jordan-based mechanical construction services firm, has been acquired by Comfort Systems USA Inc., a Houston-based provider of commercial, industrial, and institutional heating, ventilation, air conditioning and electrical contracting services. Financial terms were not disclosed. The acquisition was announced by Crewe Capital, a Salt Lake City-based boutique investment bank, which served as exclusive transaction advisor to J&S.

DIVIDENDS

• The board of directors of Medallion Bank, based in Salt Lake City, has declared a quarterly cash dividend of 50 cents per share on the bank’s fixed-to-floating rate noncumulative perpetual preferred stock, Series F. The dividend is payable April 1 to holders of record March 15. Medallion Bank provides consumer loans for the purchase of recreational vehicles, boats and home improvements, along with loan origination services to fintech strategic partners.
• LifeVantage Corp., based in Lehi, has declared a cash dividend of 3.5 cents per common share. The dividend will be paid March 15 to stockholders of record March 1. LifeVantage identifies, researches, develops, formulates and sells nutrigenomic activators, dietary supplements, nootropics, pre- and pro-biotics, weight management, skin and hair care, bath and body, and targeted relief products.

ECONOMIC INDICATORS

• Four Utah real estate options are on a list of “top choices for lottery winners,” compiled by Lottery n’ Go. It surveyed people about their first luxury real estate purchase if they won the lottery. Among the top 200 properties are No. 63 lakefront properties on Lake Powell, No. 91 ski-in/ski-out properties in Deer Valley, No. 109 luxury homes in Salt Lake City’s Avenues, and No. 135 mountain retreats in Park City. The top-ranked option is a resort-style villa in Hawaii. Details are at https://lotteryngo.com/lottery-luxuries-survey/.
• Salt Lake City’s “Art Galleries & Cocktail Crawl” is No. 77 on a list of the “Most Unique First Date Experiences in America,” according to a poll commissioned by DatingNews.com and run by QuestionPro. The poll revealed the “most unique first date experiences” in the nation. Topping the rankings is the Charleston Carriage Ride & Historic Stroll in South Carolina.
• Three Utah cities are in the top 100 on a list of “Best Cities for Local Flowers,” compiled by Lawn Love. It compared the 500 biggest U.S. cities based on five floral categories, including access to flower shops and specialty-cut flower vendors, consumer ratings, and the number of flower festivals. The top-ranked Utah cities are No. 18 South Jordan, No. 48 Salt Lake City and No. 54 St. George. The top-ranked city is New York City. The bottom-ranked city is South Fulton, Georgia. Details are at https://lawnlove.com/blog/best-cities-local-flowers/.

EDUCATION/TRAINING

• The U.S. Small Business Administration Utah District Office is accepting applications until Feb. 24 for the ASCENT-Contract Ready program, designed for women-owned businesses seeking to expand into government contracting. The office has partnered with APEX Accelerators at the Utah Governor’s Office of Economic Opportunity on the initiative, which includes a 12-week online training program aims to empower women entrepreneurs with the knowledge and skills needed to thrive in the government contracting arena. Participants will not only have access to the ASCENT platform but will also engage in live virtual webinars every other week. Application requirements include the business being 51 percent woman-owned and controlled by a woman or women, 12 months in business, and a minimum annual revenue of $150,000. Details about the program are available by contacting Jackie Hobson at Jackie.hobson@sba.gov or Sara Ortiz at sortiz@utah.gov.
• O.C. Tanner, a Salt Lake City-based company focused on employee recognition, has announced its 2024 Culture Trends Tour, with 13 stops in the U.S. and Canada. It began Feb. 6 in Orange County, California, and concludes April 25 in Kansas City, Missouri. Hosted by the O.C. Tanner Institute, the tour will focus on “what’s next for workplace culture,” offering HR professionals and experts the opportunity connect with their peers and learn strategies to improve retention, engagement and great work.

ENERGY

• The Salt Lake City Solar Powered Communities Project is looking for businesses to support their efforts to install solar panels and reduce their energy costs. Participating businesses will receive technical support from the solar experts at Utah Clean Energy, and thanks to a grant from the Urban Sustainability Directors’ Network, most or all of the cost of installing solar will be covered for businesses. The Salt Lake City Solar Powered Communities Grant is providing financial and technical support for the installation of solar energy systems at locally owned businesses in low- and moderate-income neighborhoods in the city. Applications are due by March 9. Awardees will be announced on or before March 31. Details are available by contacting Utah Clean Energy’s Jennifer Eden at jennifer@utahcleanenergy.org.

HEALTHCARE

• Doxy.me, a Murray-based telehealth platform, has appointed Dr. Esteban López as chief medical officer. A practicing physician, he will take over sales and marketing efforts at the company. As part of his role as CMO, he Doxy.me’s Growth Department, expanding the company’s reach in the United States, specifically targeting underserved communities, and growing its international presence. López has over 20 years of healthcare leadership experience, most recently serving at Google Cloud, where he served as North and Latin American head of healthcare, and Health Care Service Corp. He also has current board positions at Axonics and Addus HomeCare. Founded in 2014, Doxy.me has facilitated nearly 9 billion minutes of telemedicine in over 176 countries.

INVESTMENT

• Platform Accounting Group, based in Holliday, has closed an $85 million minority funding round led by Cynosure Group and with continued participation and support from early investors Swell Capital of Salt Lake City and Peery Capital of Palo Alto, California. Founded in 2015, Platform acquires and supports the operation of boutique professional services firms that are focused on providing tax compliance, attest, outsourced accounting, ERP consulting, and soon wealth advisory services to individuals and small businesses. The new funds will allow Platform to continue building on its existing footprint of 28 offices as well as its current service offering.

MANUFACTURING

• Northwest Pipe Co., a Vancouver, Washington-based manufacturer of water-related infrastructure, has hired Jesus Tanguisas vice president/general manager of Geneva Pipe and Precast, a Northwest Pipe company. Tanguis will be responsible for general oversight of the three Geneva Pipe and Precast plants in Utah, including manufacturing, safety, engineering, logistics, sales, team growth and plant productivity. Tanguis has a keen understanding of the international precast markets and trends, with experience in working across South, Central and North America.

MILESTONES

• Andrew and Shauna Smith have opened their 100th restaurant in Utah. They broke ground for their first restaurant, in Lehi, in 2008 and since have invested over $125 million in restaurant real estate development. They owned Four Foods Group from 2008 to 2018 and now own Savory Fund, a private equity firm that has invested in 11 brands across 11 states, with more than 180 units open and operating.

NONPROFITS

• The Utah Housing Preservation Fund, in collaboration with the city of St. George, has acquired Sunset Springs Apartments, a 124-unit apartment community that was family- owned and operated, in order to keep rents low and prevent dramatic rent increases that could displace tenants. The property was constructed in 1987. The acquisition is UHPF’s first venture into Southern Utah. The Utah Housing Preservation Fund is a nonprofit organization dedicated to securing safe and affordable housing for Utah residents through the preservation of affordable housing units.

OUTDOORS

• Roam America, based in Salt Lake City, has launched, providing a family of campgrounds designed to offer updated RV and camping experiences for modern travelers, with a focus on enhanced experiences through stylish facilities, pet-friendly accommodations, tech-forward features and curated local programming. Its flagship property is in Page, Arizona, and more destinations (near Park City and Portland, Oregon) breaking ground soon and scheduled to open later this year. Roam aims to add value to local communities, with staff composed exclusively of local residents, partnerships with local businesses ranging from tour operators to grocery stores, and plans to sell locally made items at the camp stores.

PARTNERSHIPS

• Fortem Technologies, a Pleasant Grove-based company focused on airspace intelligence, security and defense for detecting and defeating dangerous drones, has announced a partnership with INTRA Defense Technology, a Saudi company leading in development, design and manufacturing of autonomous systems and advance technologies. The partnership aims to leverage their technology and expertise to engineer, manufacture and market advanced solutions against UAS (unmanned aerial systems) threats in Saudi Arabia.
• Waystar Technologies Inc., a Lehi-based provider of healthcare payment software, has announced a partnership with Meditech, a Kentucky-based electronic health record provider. Through the partnership, healthcare organizations currently working with Meditech will have the ability to leverage Waystar’s platform to remove friction from their financial operations and focus on delivering high-quality care to patients.
• Troomi, an Orem-based company focused on kid-friendly, smart wireless solutions, has joined the Digital Safety Alliance and a collaboration with Nicklaus Children’s Hospital, a pediatric healthcare institution. In cooperation with the alliance, Nicklaus Children’s Hospital has announced a public service campaign called “Safe+Sound,” designed to increase awareness and provide resources for parents concerned about their kids’ digital wellness. Under the umbrella of Nicklaus Children’s Hospital and the nonprofit Digital Health Institute for Transformation, the alliance will serve as a think tank consisting of parents, educators, healthcare providers, hospital administrators, national corporate partners, policymakers and law enforcement officials to raise awareness, share best practices, and create a safer digital environment for youngsters. The Digital Safety Alliance is focused on concerns surrounding digital safety for children, while providing information, tools, educational programming, and resources to empower parents to make informed decisions. It also advocates for digital safeguards and industry standards.
• Open Payment Network, a Highland-based provider of a secure technology platform that enables instant payments, and Sharetec, a provider of credit union software, have integrated the OPN technology with Sharetec’s innovative core processing software. This capability enables Sharetec’s credit union customers to take advantage of the Federal Reserve’s new instant payment rail, the FedNow Service. OPN is among the first service providers supporting financial institution transaction activity on the service.
• Measured Analytics and Insurance, a Salt Lake City-based cyber insurance provider of small and midsize enterprises, has announced a partnership with KnowBe4, a Florida-based provider of security awareness training and simulated phishing platform. The collaboration aims to combine Measured’s expertise in cyber risk management with KnowBe4’s security training programs to provide comprehensive cybersecurity solutions for Measured’s customers.
• Crewe Advisors, based in Salt Lake City, has announced a strategic partnership with James Davenport, and his team of three associates. Davenport joins as a partner at the Salt Lake City RIA. Davenport has spent two decades building his advisory practice serving high-net-worth clients. Davenport is joined by colleagues Mikaila Curtis, Brianna Newson and Tanner McQuiston. Founded in 2015, Crewe Advisors is a fee-based investment advisor providing financial, estate, investment, tax, risk and philanthropic planning.
• Manly Bands, a Lindon-based wedding ring company, has announced a licensing partnership with Jack Daniel’s Tennessee Whiskey with a line of 26 men’s rings. Since its establishment in 2016, Manly Bands has focused on introducing various unconventional materials to men’s rings. Manly Bands said the new collaboration represents its expansion outside of the wedding industry to incorporate branded materials. The new ring line will be crafted from the wood of the white oak barrels used to mature Jack Daniel’s Tennessee Whiskey.
• Halia Therapeutics Inc., a Lehi-based pharmaceutical company, and Canary Speech, a Lehi-based company focused on artificial intelligence vocal biomarker technology, have announced a collaboration to revolutionize the way Alzheimer’s disease can be monitored and treated. The collaboration leverages Canary Speech’s platform, which utilizes advanced AI algorithms to analyze subtle changes in voice patterns and monitor cognitive function changes in Alzheimer’s patients. The method offers a revolutionary approach to tracking the progression of Alzheimer’s disease and the effectiveness of treatments. Halia will integrate these insights to enhance the development and efficacy of its new Alzheimer’s drug, HT-4253.
• SchoolAI, based in American Fork and focused on integrating generative AI into K-12 classrooms, has announced a partnership with Jordan School District to bring AI into classrooms for personalized one-on-one tutoring, guidance and support. The district has 67 schools, 3,350 educators and more than 57,800 students. Since launching in August of last year, more than 20,000 teachers across 1,500 districts nationwide have adopted SchoolAI’s platform. This includes more than 100,000 students.
• Beverage company Swig and the Utah Jazz have announced a partnership that makes Swig the official soda shop of the Jazz. Financial terms were not disclosed. When the Jazz win, Swig customers in Utah can score a free treat the following day when they use the Swig app. Swig will also host a digital raffled called “Swig & Win,” and during select home games, Swig will take over the Bear Bowling halftime show with 6-foot-tall Swig cups as pins. Swig has 62 stores across seven states, and has solidified 500 franchise units across seven new markets. In 2024, it Swig will continue its trajectory with 25 corporate and 40 franchise stores across the country.

PHILANTHROPY

• The Arby’s Foundation, the charitable arm of Arby’s, has donated $1 million nationwide to help pay off the school lunch debt for more than 47,000 students at 762 schools. It includes $103,822 to the Jordan School District, impacting 6,034 students, and $12,820 to the Murray City School District, impacting 1,148 students. Since 2011, the foundation has given more than $30 million to organizations dedicated to finding systemic solutions to childhood hunger.

RECOGNITIONS

• Tanner LLC, an accounting and advisory firm based in Salt Lake City, has been named one of “America’s Top Recommended Accounting firms” by USA Today and Statista. The selection process included comprehensive surveys conducted last summer. These surveys targeted both tax and accounting professionals and their clients, aiming to identify the top 100 tax and accounting firms in America based on their performance, client satisfaction and industry contribution.
• Supplementary Health Care, based in Salt Lake City, has earned the “Best of Staffing Client and Talent” awards from ClearlyRated for providing super service for the seventh consecutive year. The ClearlyRated “Best of Staffing Award,” presented in partnership with Gold Sponsor ClearEdge Marketing, recognizes industry leaders in service quality based on ratings provided by their working talent and client partners.
• Ryan Knapp, global head of partnerships at Impartner, has been named on the “2024 Channel Chiefs” list by CRN, a brand of The Channel Co. The list honors channel leaders whose relentless efforts drive forward the channel agenda, crafting and executing highly successful channel partner programs and strategies. The CRN Channel Chiefs are selected by the editorial staff based on their outstanding achievements in business innovation and unwavering commitment to the partner community. Based in South Jordan, Impartner provides channel management technologies.
• Singers Co., based in Provo, has been named a “Top Franchise for 2024” by Franchise Business Review. The 19th annual list ranks the 200 best franchise opportunities as rated by franchise business owners. For two consecutive years, Singers has received the Top Franchise, Top Women’s Franchise and Top Low-Cost Franchise by Franchise Business Review. The company has more than 65 franchise locations in 17 states. Bloomfully LLC is a nationwide company and offers Singers Co. and I Believe in Me, two programs for different age groups but both focused on strengthening the minds and hearts of young American girls.

RESTAURANTS

• Pop Drinks has opened a location at 7173 S. Redwood Road, Suite A, West Jordan. It is the company’s ninth location in four states and the fourth in Utah. It is owned by the Bruce family: Tiffany and Chad; their two children; and Tiffany’s brother, Mike.

SERVICES

• Western States Lodging and Management, a South Jordan-based management and development firm focused in hospitality, senior living and multifamily housing, has made several changes to its executive leadership team involving Chad Griffiths to chief financial officer, Jennifer S. Knecht to chief revenue officer, Marshall Paepke to chief strategy and human resource officer, Cole Smith to chief development officer, and David Webster Jr. to chief operating officer. Griffiths will manage and lead financial initiatives for the organization’s development properties. Griffiths has nearly 20 years of financial experience, with an understanding of current and future trends in financial systems and management. As CRO, Knecht will extend strategic oversight and vision to the revenue and customer experience operations of the company’s five business units. Knecht has over 20 years of sales and marketing, customer experience and operations leadership experience. Paepke will lead the strategic vision and employee recruitment of Western States, ushering the organization’s Personal Touch Culture throughout its properties. Paepke is an entrepreneur and an expert in leadership development and strategic growth. He has served as an executive coach, a corporate advisor and is skillful in the advancement of leaders and expansion of corporate objectives. Smith will lead the organization’s development and acquisition initiatives. He is a seasoned entrepreneur with a passion for real estate, building long-term value, creating lasting change and developing sustainable solutions. As COO, Webster will oversee the day-to-day operations of WSLM. He has 22 years of experience at the company. WSLM has nearly 5,000 associates in 12 states. It manages 94 properties and has more than $1.6 billion in assets under management, with two developments opening in 2024.

TECHNOLOGY

• Weave, a Lehi-based experience platform for small and medium-sized healthcare practices, has appointed David McNeil as chief revenue officer. McNeil will lead Weave’s sales, customer success, revenue operations and payments teams. McNeil has over 25 years of experience in SaaS, payments, go-to-market strategy and strategic partnerships. He spent six years at HubSpot, where he was instrumental in leading sales teams, and before joining Weave, he served as CRO of Envoy and as chief commercial officer at Tebra.com.