Company news information may be sent to brice.w@thecityjournals.com.
ASSOCIATIONS
• NACM Business Credit Services, Salt Lake City, has named April Tanner of Kimball Equipment Co.as the chairperson of its board of directors. Other new board officers are Tina Hatfield, Mountainland Supply, vice chairperson; and Leila Wolfe, Fender Musical Instruments, treasurer. Newly elected board members are Heather Hansen, Intermountain Farmers Association; and Daralyn Smith, Wavetronix LLC. NACM Business Credit Services is an affiliate of the National Association of Credit Management and is an advocate for business credit and financial management professionals. NACM is a primary learning, knowledge, networking and information resource for commercial creditors nationwide.
BANKING
• Granite Credit Union has opened a new branch at 9383 S. 700 E., Sandy. The branch manager is Charlotte Toone. The branch services include savings and checking accounts; insurance; investments; automobile loans; ITIN loans; and real estate, commercial and business lending. Founded in 1935, Granite Credit Union serves over 37,000 members and has nearly $900 million in assets.
• TAB Bank, based in Ogden, has provided a $2 million revolving asset-based line of credit for a Canadian medical supply chain financing and logistics company that the bank did not identify. The company opened a $2 million certificate of deposit at TAB Bank to serve as collateral on the loan. The move allows the company to earn a return on its deposit while simultaneously building its commercial borrowing profile. The company offers supply chain financing and logistics support tailored specifically for North American medical service providers purchasing from local and global manufacturers. It provides a data-driven approach to procurement, inventory and end-to-end supply chain management of medical commodities, such as surgical supplies and medical devices for health care providers.
CONTESTS
• Nominations are being accepted through Sept. 12 for the 2026 Founders Day Distinguished Alumni Awards, presented annually by the University of Utah Office of Alumni Relations to alumni for their outstanding professional achievements, public service and/or commitment to the UofU. The Honorary Alumnus/a Award is presented to a person who either did not attend the UofU or who went to the university for a brief time (a year or less) and who has contributed significantly to the advancement of the university through personal involvement, including donations, volunteer work and/or other forms of support. The Gold Alumni Award will be presented to an outstanding alumnus/a who graduated in the past decade. The annual distinguished alumni awards, along with honorary degrees, are the highest honors awarded by the University of Utah. Details and a link to the nomination form are at https://ulink.utah.edu/s/1077/23/1col.aspx?sid=1077&gid=1&pgid=556. Only complete nominations will be reviewed and must include both the online form and a nomination recommendation letter. The award presentations will take place during the Founders Day celebration at the Cleone Peterson Eccles Alumni House in February 2026.
ECONOMIC INDICATORS
• The average Utahn is willing to let artificial intelligence manage $15,556 of their money when it comes to investing, according to a study by loan provider Advance America and based on a survey. The national average is $20,441. The highest figure is in California, at $46,788. The lowest is in Wyoming, at $3,571. Details are at https://www.advanceamerica.net/money-saving-tips/money-management/americans-warming-up-to-ai.
• Three Utah locations are on a list of “Top Spots for a ‘Micro-Retirement,’” compiled by outplacement and career development firm Careerminds and based on a survey. It defined micro-retirement as stepping back from work for a few months or more. Utah cities are Moab, No. 30 nationally; No. 68 Park City and No. 132 Springdale. The top location overall is Hilo, Hawaii. Details are at https://careerminds.com/report/survey-micro-retirement.
• Utah is ranked No. 1 on a list of “Best States for Aging in Place,” compiled by Seniorly. Nearly three-fourths of Americans turning 65 years old this year say they want to stay in their homes rather than move to a senior living facility. Seniorly analyzed data from the CDC, CMS, Census Bureau, HUD and others to compile its list, with factors including the availability of home health aides, emergency room wait times, weather and driving safety, housing costs, meal delivery services, smart home adoption and more. Utah has the highest rate of smart home adoption (37 percent of people interact with household equipment via the Internet), 10.1 inches of precipitation per year (No. 3), and just 35.7 percent of seniors live alone, putting them at lower risk of social isolation (No. 3). The bottom-ranked state is Florida. Details are at https://www.seniorly.com/resource-center/seniorly-news/best-and-worst-states-for-aging-in-place.
•Salt Lake City, at No. 13 nationally, and No. 29 West Valley City are on a list of “America’s Most Hitchhiker-Friendly Cities,” compiled by vehicle-buying service CashforCars.com and based on a survey of drivers. The top location overall is Cheyenne, Wyoming. Details are at https://www.cashforcars.com/blog/tips/towns-most-likely-to-pickup-hitchikers/.
EDUCATION/TRAINING
• Salt Lake Community College’s 10-week Executive Certificate of Global Business Management course begins Sept. 17, with an application deadline of Sept. 9. An information session takes place Aug. 27 online. The course takes place at SLCC’s Miller Campus in Sandy and costs $1,145, with scholarships and discounts available. Details are available by contacting Venita Ross at 801-957-5336 or venita.ross@slcc.edu.
• Yevgeny Pevzner of West Valley City is among 10 middle school teachers from 10 states selected to participate in the National STEM Scholar Program, a professional development program providing advanced STEM (science, technology, engineering, and math) training, national network building and project support for middle school science teachers nationwide. Pevzner is a teacher at Kearns Junior High School. The 2025 National STEM Scholar class was hosted at The Gatton Academy in late May on the campus of Western Kentucky University in Bowling Green, Kentucky. Created in partnership between the National Stem Cell Foundation and The Gatton Academy of Mathematics and Science at WKU, the program selects 10 teachers each year from a national pool of applicants based solely on the description of a “big idea” Challenge Project the applicant would implement in their classroom if funds were available. The scholars gathered for a week of advanced STEM training and to finalize their projects with input from their STEM Scholar class colleagues.
• Tanner LLC, a Salt Lake City-based accounting and advisory firm, has launched Tanner Vanguard, an internal leadership academy designed to empower every person at the firm with the skills, mindset and confidence to lead. The academy delivers structured learning that blends technical excellence with skills of emotional intelligence, communication and people leadership. Participants will engage in practical learning modules, peer discussion, coaching, and real-world application.
ENERGY
• Airbuild, a clean energy startup focused on carbon capture, water remediation and biochar, has announced plans to develop its first microalgae facility on property leased from Green River City. The $9.5 million project is expected to result in 15 new jobs over the next three years. The announcement came as the result of collaboration among Green River, the Economic Development Corporation of Utah, Utah State University Eastern, Better City, the Utah Inland Port Authority and the University of Utah PEAK water sustainability engine. Through partnerships with local governments and canal companies, Airbuild implements systems that extract excess nutrients from waterways to improve water quality and downstream ecosystems. Airbuild transforms harvested algae and local organic waste into biochar, which is then used as fertilizer and sold for carbon credit initiatives.
ENVIRONMENT
• The U.S. Environmental Protection Agency has announced that the University of Utah has been selected to receive $2 million in Brownfields Grants to assess, clean up and revitalize local lands. Previous environmental site assessments conducted by the UofU at the SLC Station Center have identified harmful contamination on the property, such as arsenic and volatile organic compounds. The university plans to remediate the soil and groundwater contamination for future commercial reuse in alignment with Salt Lake City’s Community Revitalization Agency’s Rio Grande Plan. The federal grants are part of $267 million in Brownfields Grants nationally. The program began in 1995 and has provided nearly $2.9 billion to assess and clean up contaminated properties and return blighted properties to productive reuse. To date, Brownfields investments have leveraged more than $42 billion in cleanup and redevelopment.
INVESTMENTS
• Trucordia, a Lindon-based insurance brokerage, will receive a $1.3 billion strategic investment from global investment firm Carlyle’s Global Credit platform. Trucordia offers commercial and personal lines, life, and employee benefits insurance solutions. The transaction will reduce Trucordia’s leverage and simplify its governance structure by repurchasing units from existing minority investors. The transaction, which values Trucordia at $5.7 billion, provides the company with long-term financial flexibility to pursue a variety of strategic outcomes, it said. The investment was led by Carlyle’s Credit Opportunities team within the firm’s Global Credit platform. J.P. Morgan acted as sole advisor and placement agent to Trucordia in connection with the transaction. Orrick, Herrington & Sutcliffe LLP served as Trucordia’s legal counsel. Latham & Watkins LLP served as legal counsel to Carlyle.
• Banner Capital Management LLC, a Salt Lake City-based private equity firm, has closed a portfolio recapitalization into Banner Capital Fund I and the launch of Banner Capital Fund II. Fund I is a multi-asset continuation fund with over $400 million in capital commitments, formed to acquire interests in eight of Banner’s pre-fund portfolio companies. Funds managed by Hamilton Lane acted as lead investor and many of Banner’s pre-fund investors retained a meaningful interest in the portfolio companies via participation in the new vehicle. Following the close of Fund I, which has unfunded capital reserved solely for follow-on investments, Banner launched Fund II, a lower middle market buyout fund with a $200 million target. Banner held a preliminary closing on Fund II to facilitate the recently announced Western Pavement Services transaction. The Larry H. & Gail Miller Family Foundation, along with certain other legacy LPs, participated in the closing. A traditional first closing is anticipated in the fourth quarter. Banner was advised by Harris Williams as financial advisor and Kirkland & Ellis LLP as legal counsel on the transaction. Hamilton Lane was advised by Debevoise & Plimpton LLP.
• Hypercraft, a Provo-based hybrid and electric powertrain supplier, has completed a $26 million Series A raise, with a post-money valuation of $106 million. The financing was led by Stalwart Ventures. A strategic investment was made by Strategic Development Fund, an Abu Dhabi-based investment company wholly owned by EDGE Group PJSC. Hypercraft said the funds will be used to support its re-imagining of mobility technology defined by software and AI, and to create an open ecosystem for which third-party developers can create apps. Since 2023, Hypercraft has provided support for the development of more than 20 vehicle platforms in the performance, marine and defense industries.
• R1, a Murray-based company focused on managing and automating health care revenue management, has announced an investment from Khosla Ventures. The amount was not disclosed. R1 serves 94 of the top 100 U.S. health systems and its numbers include over 180 million annual payer transactions, 1.2 billion annual workflow actions, and 20,000 proprietary automation algorithms.
PARTNERSHIPS
• Bluffdale-based Listen Technologies and U.K.-based Ampetronic, which operate as one company with two brands, became a Hearing Loss Association of America (HLAA) Hear For Life partner and sponsored the 40th annual HLAA convention June 11-14 in Indianapolis. Ampetronic/Listen Technologies also provided assistive listening systems at the convention. With installation partner Thunder Hearing & Sound, they provided hearing loop and Auracast broadcast audio-based assistive listening systems. Ampetronic/Listen Technologies also sponsored the Walk4Hearing initiative, aimed at empowering people with hearing loss.
• Derivita, a Salt Lake City-based company offering a mathematics education platform, has announced a partnership with Texas Instruments that aims to transform math classrooms into dynamic, thinking environments driven by real-time insight and high-quality student engagement. The partnership allows teachers to engage students in real-time collaboration using TI’s TI-Nspire CX II graphing calculator that is now integrated with Derivita’s SpotCheck feature. Together, they enable anonymous participation, peer-to-peer collaboration and instant insights.
PHILANTHROPY
• Supplemental Health Care, a Salt Lake City-based behavioral health, education and health care workforce solutions provider, has unveiled its 2025 Impact Report, detailing the organization’s dedication to enhancing its impact across the nation. Among those impacts are supporting employee volunteerism and community involvement, as well as championing initiatives that promote education, mentorship programs and growth opportunities; investing in the future of school-based care with expanded support for registered behavioral technicians (RBTs), school psychologists, psychological examiners and paraprofessionals as well as upskilling programs; and continuing investments in communities through philanthropic partnerships with organizations like The Inn Between and Love for Literacy.
REAL ESTATE
• Abstract Development recently hosted a grand opening of One Burton, a mixed-use development in the Downtown District of South Salt Lake. Hailed as the first major development in the Downtown District, One Burton is on a 1.24-acre through-block site at Burton Avenue and Main Street. The $50 million, eight-story building includes 180 rental residences across 24 floorplans. Architectural Nexus and Jacobsen Construction were involved in the project. Among amenities are a private building art gallery leading to a courtyard, rooftop dining and entertainment lounge, outdoor lounge areas, a game room, co-working spaces, a fitness center; a pet spa and dog park, and secure bike storage.
• Centerspace, based in North Dakota, has acquired Sugarmont, a 341-home community in the Sugar House submarket of Salt Lake City, for $149 million. It is Centerspace’s first community in Salt Lake City. Sugarmont was built in 2021. Centerspace owns 72 apartment communities, consisting of 13,353 homes, in Utah and six other states.
RECOGNITIONS
• Ivory Innovations, a nonprofit academic center at the University of Utah David Eccles School of Business, has announced the recipients of the seventh annual 2025 Ivory Prize for Housing Affordability. Ivory Innovations works to source, support and scale the most compelling housing innovations through the Ivory Prize, which recognizes and funds novel solutions to the housing crisis in three areas. In addition to national recognition and ongoing support from Ivory Innovations, each winner receives $100,000. The award recipient for Construction and Design is Reframe Systems, which builds robotic micro-factories that produce high-quality, factory-built housing faster, cheaper and more sustainably. The recipient in the Finance category is Grounded Solutions Network. Its Homes for the Future Fund leverages private capital and private-sector efficiencies to expand shared-equity housing stock in major markets nationwide. The multi-phased model begins by acquiring existing single-family homes and operating them as rental housing, utilizing property appreciation and rental income to eventually sell the homes at below-market prices to land trusts and other local shared-equity housing nonprofits. Once transferred into a local shared-equity organization, the homes are sold to homeowners at prices well below fair market value. The recipient in the Policy and Regulatory Reform category is the state of Florida and Florida Housing Coalition for the Live Local Act, passed in 2023 and implemented in collaboration with the coalition. It tackles the housing crisis through zoning reform, tax incentives and targeted investment. The law supersedes restrictive local zoning to allow by-right multifamily development on commercially zoned land, provides tax exemptions to incentivize affordable and workforce housing, and allocates more than $700 million in housing funding. This year, the Ivory Innovations team evaluated over 280 nominations from across the U.S, a record number of nominees. The recipients and top 10 finalists will gather in October in Salt Lake City for the 2025 Ivory Prize Summit.
• Pluralsight, a Draper-based technology workforce development company, has been recognized as a “leader” in the second-quarter technology skills development platform report by Forrester. The independent analyst report evaluated eight providers in the technology skills development space across strategy, capabilities and customer feedback. “Leader” is the highest category for vendors. Pluralsight also received the highest strategy score among all vendors evaluated and the highest score possible in the vision, innovation, partner ecosystem and adoption criteria.
• Moises, an AI-powered music platform founded in Salt Lake City in 2019, has been named an Apple Design Award finalist in the Innovation category. The honor comes six months after Apple named Moises the 2024 iPad App of the Year. Moises simplifies the task of practicing and producing music with its AI platform that separates vocals and instruments from any song. The platform processes 2.5 million minutes of audio every day and is available in 33 languages. Its community includes 60 million musicians across 190 countries.
