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BANKING
- Crewe Capital, a Salt Lake City-based boutique investment bank, has hired Nick Jones for its Salt Lake City team. Jones started in the industry as an intern with Crewe Capital and has held positions with other investment banks, including Houlihan Lokey, Piper Sandler and Citi.
- TAB Bank, based in Ogden, has provided a $5 million credit facility to CoreCentric Solutions Inc., an Illinois-based recovery, repair and return-to-market services provider for appliances, appliance parts and consumer goods. The financing will support the company’s mission to reduce waste by inventing new ways to extend the lifecycle of products by collecting, rebuilding, fixing and returning them to the marketplace. Since 1995, CoreCentric Solutions has repaired and remanufactured appliances and appliance parts for some of the world’s largest OEMs. The company also works with extended warranty providers, retailers, wholesale parts suppliers and service technicians.
DIVIDENDS
- The board of directors of Extra Space Storage Inc., based in Salt Lake City, has declared a fourth-quarter 2024 dividend of $1.62 per share on the company’s common stock. The dividend is payable Dec. 31 to stockholders of record Dec. 16. Extra Space is a real estate investment trust that owns and/or operates 3,862 self-storage properties. It is the largest operator of self-storage properties in the United States.
ECONOMIC INDICATORS
- Utah is tied with Michigan at No. 2 on a list of “Best U.S. States to Start a Business in 2025,” compiled by National Business Capital. The report indicates that Colorado’s and Utah’s “balanced blend of opportunity, growth and support give them a clear edge, while tax-friendly Texas and Florida and high-capital states like California offer unique advantages for aspiring business owners.” The top-ranked state is Colorado. The lowest-ranked state is Kansas.
- Salt Lake City is ranked No. 38 and Provo is No. 96 on a list of “Cities with the Most Ambitious Young Professionals,” compiled by Career.io. It identified the 100 cities across U.S. with the hardest-working young professionals. The top-ranked location overall is New York City. Details are at https://career.io/career-advice/americas-top-cities-for-ambitious-young-professionals.
- Utah kitchens are home to more than 135.4 million life-changing decisions per year, according to a survey by cabinet manufacturer Fabuwood. That equates to 2,603,621 decisions each week. Thirty percent of Utah respondents said budgeting or financial planning was their most significant choice, followed by career changes and moving to a new home or city, each reported by 14 percent of participants. The highest number overall was in Hawaii, at 58 decisions per year per household, or a total of 83 million. The lowest were in Delaware, Montana and Vermont, at just 16 life decisions per year per household. Details are at https://www.fabuwood.com/blog/life-decisions-unfold-in-the-kitchen/.
- Little Wild Horse Canyon near Goblin Valley State Park is Utah’s “most popular ‘alternative’ landmark,” according to a poll of international travelers conducted by luxury yacht company Barefoot Yachts Indonesia. It surveyed 3,000 travelers to discover which lesser-known American landmark they would most like to visit. Little Wild Horse Canyon is ranked No. 5 among such U.S. locations. Goblin Valley State Park is ranked No. 85. The top-ranked location in the U.S. is Seven Magic Mountains in Las Vegas. Details are at https://www.barefoot-cruising-indonesia.com/top-120-lesser-known-places-international-travelers-want-to-visit/.
- Thirty-six percent of Utahns do not wipe data when recycling their devices, according to a study by HostingAdvice. That places Utah No. 5 among states and the figure equates to 21,389 Utahns. The national figure is 26 percent, equating to over 1.6 million devices. The highest percentage is in Minnesota, at 46 percent (48,000). The lowest is in South Dakota, at 8 percent (1,332). Many say they forget to do so or simply do not bother before submitting devices for e-waste recycling.
ENERGY
- Ionic Mineral Technologies, a Vineyard-based company focused on nano-silicon battery anode materials, has appointed Sunho Kang as chief technology officer. Kang will lead the efforts on advancing the company’s Ionisil nano-silicon anode products and commercial development. Kang has over 25 years of experience in battery technology innovation, with leadership roles at Argonne National Laboratory, Samsung SDI, Apple and Volkswagen. He has developed and industrialized Li-ion battery materials, including advanced NCM cathode materials, silicon-carbon nanocomposites, and nanoporous silicon.
GOVERNMENT
- The Utah Department of Corrections has named Sharon D’Amico as warden at the Utah State Correctional Facility in Salt Lake City. She succeeds Bart Mortensen, who was promoted to chief of the Reentry and Rehabilitation Division. The USCF opened in July 2022, replacing the Utah State Prison facility in Draper. It houses approximately 3,000 incarcerated people. D’Amico started her career in January 1997 as a correctional officer at the Utah State Prison in Draper. She later was promoted sergeant, case manager, lieutenant and captain. Upon transitioning to USCF, she was promoted to deputy warden over internal security, support services, facility operations, and the receiving and orientation unit.
- The Utah Division of Outdoor Recreation has released its end-of-season numbers for the Utah Trails Program. They include 126 projects, 512.5 miles of trail work completed, 397 miles on motorized trails, 115.5 miles on non-motorized trails and 435 volunteer hours contributed. Details are at https://storymaps.arcgis.com/stories/d377270871c44be1b5fc0dd2925180ae.
HOSPITALITY
- The St. Regis Deer Valley has appointed Shawnda Brooks as director of spa. She previously was spa manager at the Spa at The St. Regis Deer Valley. Prior to joining The St. Regis Deer Valley, Brooks was spa manager/beauty at Canyon Ranch in Massachusetts and general manager at the Exhale Spa in Florida. She was also a national trainer and beauty advisor of Sothys USA. Brooks also served in the U.S. Army as a communication service specialist.
INSURANCE
- Trucordia, a Lindon-based insurance brokerage formerly known as PCF Insurance Services, has named Michael Moranas chief operating officer. Moran leads the company’s field operations, as well as its carrier relations, technology and integrations teams. Moran has been in the insurance and reinsurance industry for more than 25 years. Prior to joining Trucordia, Moran served as an executive vice president for Aon. He served in various roles at Aon, including CEO of Aon Inpoint; global COO of reinsurance brokerage Aon Benfield; and in senior roles across Aon Benfield, Aon Risk Solutions and Aon Corp. Earlier in his career, Moran held consulting positions in the financial services practices at McKinsey & Co. and A.T. Kearney.
INVESTMENTS
- JobNimbus, a Lehi-based software provider for the roofing industry, has announced a $330 million growth investment from Sumeru Equity Partners. Existing investors, including founder and CEO Ben Hodson, other co-founders Nick and Jason Wood, and Mainsail Partners will continue as investors in the business. JobNimbus said the funding will help enable it to scale its operations, expand product offerings, and continue to transform the contractor technology space. Jason Babcoke, Sumeru co-founder and managing director, will join the JobNimbus board of directors as part of the investment, as will Sumeru’s Chris Litster, Paul Mercadante, Jack McCabe and Blake Shott. Vinay Kashyap and KC Kanoff from Mainsail Partners will remain on the board.
MANUFACTURING
- Bedgear, a New York-based manufacturer of sleep products, has relocated its West Coast headquarters from California to Salt Lake City and held the grand opening of its new manufacturing and distribution facility in Salt Lake City, known as “The Peak.” The move is aims to enhance delivery times, operational efficiency and customer service levels, particularly for the western United States and Canada. “The Peak” will expand the company’s manufacturing capabilities, with direct-to-consumer fulfillment having already begun and plans in place to integrate a full product lineup and full-scale direct-to-consumer fulfillment by 2025. Bedgeaer operates in 31 countries. Its products include pillows; sheets; mattress protectors; blankets; pet beds; and items for travel, kids, and babies. As part of its celebration of “The Peak,” the company partnered with Ticket to Dream to provide comfort and support for children in need through Utah Foster Care. It donated essential bedding items (100 mattress protectors, 100 pillows and 150 sheet sets) and infant care kits.
- Nature’s Sunshine Products Inc., a Lehi-based manufacturer of herbal and nutritional supplements, has appointed Steven Fasching to its board of directors. The company board now consists of nine directors, with eight serving as independent directors. Since June 2018, Fasching has served as chief financial officer of Deckers Brands. He has held other senior positions at Deckers Brands since August 2011, including vice president of strategy and investor relations and vice president of strategic financial planning. Fasching has over 30 years of experience in long-term financial and strategic planning for multi-billion-dollar organizations.
NONPROFITS
- The One Utah Health Collaborative, a nonprofit organization, has appointed Scott Barlow and R. Chet Loftis as co-chairs of its Stakeholder Community Board. Composed of Utah health care leaders, the board is dedicated to creating sustainable, accessible and affordable health care solutions that address the needs of Utah residents. Barlow is CEO of Revere Health, an independent physician group employing over 450 providers across more than 100 clinics and 29 hospitals statewide. Barlow serves on several health care boards, including the One Utah Health Collaborative (as a founding board member), the University of Utah MHA Advisory Board and the American Medical Group Association Board. Loftis is managing director of PEHP Health & Benefits, an independent state entity that operates as a health plan for Utah’s public employers, including the state. With over 30 years of experience in health law, policy, and leadership, Loftis has held roles with the Utah Legislature, Utah Attorney General’s Office, Utah Supreme Court, Utah Medical Association, Regence BlueCross Blue Shield, and the law firm Kirton McConkie. In addition to his role at PEHP, Loftis serves on several boards and teaches health leadership courses at Brigham Young University and Weber State University. He holds a BA, MPA and JD from Brigham Young University.
PARTNERSHIPS
- Snowbasin Resort in Huntsville and Mammut have announced a multi-year partnership to provide uniforms, outerwear and safety equipment for Snowbasin. This collaboration will deliver gear to protect and enhance the employee experience and also provides further retail options for guests, with new Mammut outerwear and equipment available in the Grizzly Center retail shop. Starting with the 2024-25 season, Mammut will be the exclusive provider of winter uniforms for all Snowbasin employees. The partnership includes avalanche safety equipment and trainings for the Snowbasin Ski Patrol and Mountain Safety teams prior to the start of the upcoming season. In addition, Mammut has offered significant discounts to Snowbasin employees for purchasing personal equipment and outerwear.
- Pluralsight, a Draper-based technology workforce development company, and Carahsoft Technology Corp., a government IT solutions provider, have announced a partnership that calls for Carahsoft to serve as Pluralsight’s public-sector distributor. Pluralsight’s technology training courses, hands-on labs and sandboxes and skills assessments will be available to the public sector through Carahsoft’s reseller partners and other methods.
PHILANTHROPY
- CMI Orchards, in partnership with Smith’s Food & Drug, has donated $7,500 to the WeUpliftU Foundation from proceeds from the sale of American Dream apples during the month of November. The campaign is part of a series of ongoing American Dream promotions that are designed to give back to veterans, military members and their families for their dedication to the country. The WeUpliftU Foundation provides educational awareness and therapy support for Utah veterans, Davis County first responders and youth educational programs. CMI has been providing Smith’s with apples and pears from the Northwest for over 30 years.
REAL ESTATE
- A nine-building portfolio has been sold to a partnership of Hyde Development and Mortenson Properties. Financial terms were not disclosed. The portfolio includes five single-tenant and four multi-tenant buildings just south of the Salt Lake City International Airport. They total 787,000 square feet. They are 96 percent leased. The sale was announced by CBRE. Jeremy Ballenger, Tyler Carner, Rebecca Perlmutter and Brett Hartzell of the CBRE National Partners team represented the seller.
- Gables Residential, a multifamily development and management company, has announced the groundbreaking of Gables Library Square, its first project in Utah. Located on the east side of downtown Salt Lake City and with an anticipated delivery in the spring of 2027, the community will feature a mix of studio, one-bedroom, two-bedroom and penthouse apartment homes. Kier Construction leads the construction, and Method Studio is responsible for the architectural design of the community.
RECOGNITIONS
- The Klymit Drift Camp Pillow, produced by Kaysville-based Klymit, has been named a winner in the Good Housekeeping 2025 Family Travel Awards. The pillow features a durable, easy-to-clean, water-resistant outer shell for travel, and when flipped reveals a jersey cotton inner pillowcase filled with shredded memory foam. Klymit produces outdoor sleep gear and is part of the Gathr Outdoors family of brands.
RETAIL
- Brent Brown Toyota, based in Orem, has announced it will rebrand under new management as “Orem Toyota: Where You Lead the Way.” It offers an expanded inventory of Toyota and preowned vehicles and an enhanced service department, with a focus on personalized customer experiences.
- Burt Brothers Tire & Services Inc., a Bountiful-based auto care company, has acquired Tire Buster’s service centers at 1146 W. 800 S., Payson, and 338 N.W. State St., American Fork. Financial terms were not disclosed. The locations will continue to operate under the Tire Buster’s name, and existing employees will be retained. Founded in 1991, Burt Brothers now has 29 stores throughout the state. The company is nearing completion on a new shop at 425 W. 2650 N., Pleasant View.
- Gorjana, a Laguna Beach-based jewelry brand, has opened a storefront at City Creek Center in Salt Lake City. The 628-square-foot store is the company’s second Utah location. The company was founded in 2004.
TECHNOLOGY
- Vroozi, a California-based procure-to-pay platform company, has appointed Dave Norton as president. Norton has 25 years of experience in enterprise technology companies, most recently serving as chief revenue officer at Eltropy. Prior to that, he served as CRO at LiveView Technologies, executive vice president of sales at MX Technologies, and he began his career at Xactware. Norton’s education includes earning an undergraduate degree from Brigham Young University.
