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

BANKING

Bank of Utah, Ogden, has appointed Trevor L. Austin to the newly created position of treasury management team lead. He will be based in the bank’s City Creek Banking Center in Salt Lake City and will oversee all treasury management services in the Salt Lake region for the bank. Austin has experience in banking and human resources. Most recently, he served as regional vice president of sales for Allied Services, where he managed insurance-related business for financial institutions in Utah, Idaho, Nevada and Wyoming. Prior to that time Austin served as credit insurance marketing representative for First Security Insurance in Salt Lake City and as compensation specialist and a human resource specialist for the former First Security Bank. He earned a Bachelor of Science in Business Management with a human resource management emphasis from the University of Utah.

 

EDUCATION/TRAINING

Weber State University has added a program this fall to support disadvantaged students as they pursue degrees in science, technology, engineering and math. The program, called Student Support Services (SSS) STEM, will be funded by a $1.3 million U.S. Department of Education grant awarded to the university in August. The grant, which will span five years and serve 120 students annually, is administered through the federal department’s TRIO Program in Student Support Services.

 

EXPANSIONS

National Vinyl Products, a Nephi-based producer of vinyl fence and rail profiles, has opened a manufacturing facility in Dover, Delaware, that will create over 100 jobs and double the company’s North American production capacity. The $20 million PVC extrusion facility will manufacture vinyl fence and rail products in a 100,000-square-foot production area, along with several acres designated for product storage and a rail spur on site with a loading dock. The new plant also will serve as a warehousing and cross docking location connecting NVP’s production network. The facility was previously a PPG paint manufacturing plant.

 

HEALTHCARE

National Partners in Healthcare (NPH), a national healthcare organization offering anesthesiology services, has expanded into Salt Lake City with Rocky Mountain Anesthesiology joining NPH, a joint venture between Archimedes Health Investors LLC, a healthcare-focused private equity firm, and BlueMountain Capital Management LLC, an investment firm with experience building enduring partnerships in the healthcare industry. Katten Muchin Rosenman LLP of Dallas provided legal counsel to NPH. Rocky Mountain Anesthesiology and its shareholders were represented in the transaction by John M. Hogan of Saxton & Stump LLC of Pennsylvania.

 

Central Logic, a Sandy- and Minnesota-based innovator in patient orchestration and tools to accelerate access to care, has added three people to its executive team: Maija Costello as vice president of people and culture; Samantha Endres, chief financial officer; and Robert Zdon, chief marketing officer. Costello has several years of experience in healthcare and human resources. Prior to joining Central Logic, she was a management consultant manager at Accenture. Other previous healthcare-related positions include people operations manager at Bloom Health in the Minneapolis-St. Paul area. Endres’ healthcare experience includes serving as vice president of financial planning and analysis for Healthland and, most recently, as chief financial officer at West Academic Publishing. Other previous positions include senior director of finance at Thomson Reuters. Most recently, Zdon was president of RAZR Marketing and Grayduck Health, a Minneapolis-based marketing and technology agency. Before that, he held senior leadership roles at other healthcare- and technology-focused companies, including Healthland, Universal Hospital Services, Hill-Rom and Allina Health.

 

INVESTMENTS

Peterson Ventures, a Salt Lake City-based seed-stage venture fund, has announced its Fund III of $65 million. It will invest between $250,000 and $1 million in seed- and pre-seed-stage consumer and SaaS companies. With the launch of the third fund, Peterson Ventures has $155 million in assets under management. It intends to make approximately 30 investments over the next three years.

 

Savory, a Salt Lake City-based Mercato Partners Fund focused on investments in the food and beverage industry, has announced an investment in The Crack Shack, a Southern California chicken restaurant concept. Financial details were not disclosed. It is the first investment Savory’s announcement of its inaugural $90 million fund in May. The Crack Shack has grown to include several stores throughout the San Diego and greater Los Angeles areas, as well as Las Vegas. It joins Savory’s current portfolio of restaurant concepts Mo’Bettahs, R&R BBQ and Swig.

 

Cimarron Healthcare Capital, a Salt Lake City-based private equity firm focused on healthcare services at the lower end of the middle market, has announced that Jason VandenAkker has joined the team as managing partner. VandenAkker has nearly 20 years of healthcare experience. Prior to joining Cimarron, he was CEO and portfolio manager of Elevate Portfolio. He previously was CEO of AAPC; held executive roles at Optum, including chief operating officer/general manager of its Complex Medical Conditions business; and worked in professional services at Parthenon Group and private equity firm MedEquity Capital. His education includes degrees in economics and political science from the University of Utah.

 

REAL ESTATE

Mortenson Properties, the real estate investment arm of M.A. Mortenson Cos., and Hamilton Partners have announced the purchase of The 324 office building at 324 S. State St., Salt Lake City. Financial terms were not disclosed. The 324 is a 215,000-square-foot, five-story building with an attached parking garage and is the historic location of Auerbach’s department store. Mortenson and Hamilton Partners are planning to add a rooftop patio that will provide indoor and outdoor space. Construction work will be completed by Mortenson Construction, an affiliated business to Mortenson Properties. Riley Smith, Drew Bryan and Daren Jones at Mortenson worked with Ryan Bergman, Mortenson vice president, on the deal. Newmark Knight Frank executive managing director Bryce Blanchard and senior managing director Rick Stumm brokered the sale in partnership with Kevin Shannon, co-head of U.S. capital markets, and Ken White, executive managing director. The JLL Capital Markets team representing the borrower was led by senior director Leon McBroom and analyst Rob Cronenberg, who worked to secure financing through ArrowMark Partners.

 

Colliers Utah, a commercial real estate company, has expanded its office in Kaysville by adding Tyler Jones, senior vice president; Matt Beynon, associate; and Ashley Allred, team manager. Jones has over 20 years of experience in the industry. Beynon has a background in sales, research and customer service relations. Allred has 13 years of experience in customer service and management. Colliers now has five offices along the Wasatch Front with 240 local professionals.

 

Homie, a Salt Lake City-based real estate technology company, has hired Chris Fryer as chief product officer. Fryer previously was a senior UX designer at Amazon and led a team of more than 50 designers at Redfin.

 

RECOGNITIONS

• The Economic Development Corporation of Utah recently presented economic development awards at its annual meeting. Jay Francis, former chair of the EDCUtah board, received the Thayne Robson Award, which is given to a public-sector individual that has demonstrated exceptional dedication to EDCUtah and economic development throughout the state. Ogden Mayor Mike Caldwell received the Nike Rose Award, presented to a private-sector individual that has demonstrated exceptional dedication to EDCUtah and economic development throughout the state. Salt Lake City International Airport received the Larry H. and Gail Miller Family Cornerstone Award, given to associations, organizations or developments that have merit far beyond their own boundaries and have had profound and long-term positive impact on the state's economy.

 

• Nine businesses, nonprofits and government agencies that embody the spirit of ethical leadership recently were recognized at the 2020 Utah Ethical Leadership Awards, which recognize organizations that embody the spirit of ethical leadership exhibited by Bill Daniels, a pioneer in the modern cable industry and former owner of the Utah Stars. This year’s awards honor nine organizations: three winners and six finalists. The overall winner of the Bill Daniels Ethical Leadership Award in Business is MarketStar. Other finalists in the category were Mountain America Credit Union and Simplus. The winner in the Nonprofit category is The Inn Between, with other finalists being The Other Side Academy and Bicycle Collective. The winner in the Government category is South Jordan City, with other finalists being the Utah Department of Administrative Services and Salt Lake County Office for New Americans. The awards program is sponsored by the Daniels Fund, the Daniels Fund Ethics Initiative Collegiate Program at the David Eccles School of Business, the Community Foundation of Utah, Utah Business and the Center for Public Policy and Administration at the University of Utah.

 

• Several Utah luxury hotels, restaurants and spas are in the 2021 “sneak peek” list of Forbes Travel Guide Star Award winners. The early winners were inspected prior to the COVID-19 closures. The full slate of honorees will be revealed in spring 2021. On the “sneak peek” hotel list are Montage Deer Valley, Park City (five stars); Stein Eriksen Lodge Deer Valley, Park City (five stars); Amangiri, Canyon Point, (four stars); The Chateaux Deer Valley, Park City, (four stars): The Grand America Hotel, Salt Lake City (four stars); The St. Regis Deer Valley, Park City (four stars); Waldorf Astoria Park City, (four stars); Sorrel River Branch Resort & Spa, Moab (recommended); Snowpine Lodge, Salt Lake City (recommended); Sundance Mountain Resort, Park City (recommended); The Cliff Lodge, Salt Lake City (recommended); Washington School House Hotel, Park City (recommended); and Westgate Park City Resort & Spa (recommended). On the “sneak peek” restaurant list are Glitretind Restaurant, Park City (four stars); Riverhorse on Main, Park City (four stars); Tree Room, Park City (four stars); Edge Steakhouse, Park City (recommended); and Powder, Park City (recommended). On the “sneak peek” spa list are The Grand Spa at the Grand America Hotel, Salt Lake City (five stars); The Spa at Stein Eriksen Lodge, Park City (five stars); Remede Spa at the St. Regis Deer Valley, Park City (four stars); and Spa Montage Deer Valley, Park City (four stars).

 

Campfire Industries, South Jordan, has been named a finalist in the Young Entrepreneur Achievement Award category in the U.S. Chamber of Commerce’s annual Dream Big Awards, presented by Chase for Business, with support from MetLife. The new award celebrates the achievements of small businesses and honors their contributions to America’s economic growth. The Dream Big Awards program includes Business Achievement Awards to recognize excellence in six categories: emerging, green/sustainable, minority-owned, veteran-owned, woman-owned, and young entrepreneur businesses. The Young Entrepreneur Business Achievement Award recognizes the success of a small business and honors its contributions to the growth and diversity of the American economy. This award recognizes a small-business owner, founder or cofounders, age 14-25 who have attained outstanding business achievement. Award winners will be announced Oct. 15.

 

RESTAURANTS

Marc Marrone has become the new chef-partner at HallPass, a food hall at The Gateway in Salt Lake City. Following a successful year operating Graffiti Bao and other concepts at T-Mobile Arena and the new Raiders’ stadium in Las Vegas, Marrone and Todd Lunger of Graffiti Hospitality will join forces with SkinnyFats and together they will launch Graffiti Bao’s first location outside Nevada as part of the food hall’s new restaurant portfolio debuting mid-October. Graffiti Bao is a fast-casual Chinese restaurant. Marrone  also will helm Hibachican, a dual hibachi concept. Marrone’s experience includes being West Coast corporate executive chef of TAO Group; premiering Graffiti Bao, Piña Mexican and Gemma Gemma Square Pies; forming a consulting group called Graffiti Group Hospitality LLC with Lunger; and serving as a chef consultant for Locale Italian Kitchen in Las Vegas.

 

SERVICES

EnviroServe, a Savage company, has opened a new operation in Salt Lake City. It is the company’s first environmental services operation in Utah. EnviroServe has 24 operations across its network, providing emergency response, environmental remediation and waste management services. Savage provides transportation, logistics, materials handling and industrial services.

 

Velocity, an Ohio-based managed services company, has promoted Ben DeSpain to chief people officer. DeSpain joined Velocity in 2019 and has most recently served as vice president of human resources. DeSpain previously was director of human resources for the U.S. operations of Dura-Line and held HR roles at Owens Corning, Parker Hannifin and Kohler. His education includes a B.S. from Utah State University.

 

TECHNOLOGY/LIFE SCIENCES

Xant, a Lehi-based enterprise sales engagement platform company, has appointed Mark Novakovich as chief financial officer. Novakovich most recently was chief financial officer of Control4, where he worked for the past 15 years. During his time at Control4, he also served on the Treasury and CFO Advisory boards at Silicon Valley Bank, working alongside CFOs of other clients of the bank to provide feedback on product vision and strategy. Novakovich graduated from the accounting program at Brigham Young University.

 

Pin It