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AGRICULTURE
• The 29th season of the Downtown Farmers Market opened June 13 at Pioneer Park, Salt Lake City. The market this year has a modified layout; health protocols; and a focus on safe, efficient purchasing to ensure access to locally produced products. Market staff has worked closely with city, county and state officials to redesign the market for optimal health safety. Farmers and makers will be positioned in a new configuration with generous spacing for vendors and customers. Arts and craft vendors, musicians and food service trucks and trailers have been eliminated for the 2020 season. The market is scheduled to continue each Saturday through Oct. 24.
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 Kelly Passey, Plastic Specialties, vice chairperson; and Danny Wheeler of Adobe Inc., treasurer. Newly elected board members are Rebecca Mullins, CESS LLC; Scott Michelsen, Kenworth Sales Co.; and Tyler Steenblik, Young Electric Sign Co. NACM Business Credit Services is an affiliate of the National Association of Credit Management (NACM) and is an advocate for business credit and financial management professionals.
COMMUNICATIONS
• FatPipe Networks, a Salt Lake City-based company focused on SD-WAN (software-defined wide area networks) technology, has hired Harish Motwani as executive vice president of strategic business and solution sales for FatPipe Networks, India. Motwani previously was the executive vice president of Reliance Communications Ltd., India.
CORRECTIONS
• Management & Training Corp., a Centerville-based operator of federal Job Corps centers and an operator of private correctional facilities, has hired Leann Bertsch as senior vice president of corrections. Bertsch previously was director of the North Dakota Department of Corrections and Rehabilitation, a position she held for 15 years. She also served as commissioner of the state’s Department of Labor and as assistant state’s attorney.
CORPORATE
• Purple Innovation Inc., a Lehi-based comfort products manufacturer, has announced that the underwriters of its previously announced underwritten secondary public offering have exercised in full their option to purchase an additional 1,618,405 shares of its Class A common stock from InnoHold LLC. Purple did not receive any proceeds from the sale. BofA Securities and Oppenheimer & Co. Inc. acted as joint book-running managers for the offering. Raymond James, KeyBanc Capital Markets and Wedbush Securities acted as co-managers.
ECONOMIC INDICATORS
• Utah is ranked No. 47 among states in a study of support available for small businesses during the COVID-19 pandemic, compiled by Best Accounting Software. It analyzed the grants, loans, tax deferral schemes and other measures such as foreclosure moratoriums. Top-ranked is California. Bottom-ranked is West Virginia. The report is available at https://bestaccountingsoftware.com/us-small-business-support-covid/.
ENERGY/NATURAL RESOURCES
• SPower, a Salt Lake City-based renewable energy independent power producer, has appointed Michael Belikoff as chief operating officer. He will oversee sPower’s pan-renewable operating portfolio of nearly 2 gigawatts and lead sPower’s engineering and construction teams as the company builds out its nearly 17-gigawatt development pipeline. Belikoff has been a leader in the renewable energy industry for more than a decade, most recently serving as executive vice president of engineering, procurement and construction and operations and maintenance (O&M) at Cypress Creek Renewables. Prior to that, he was chief operating officer at Strata Solar and vice president of global power plant engineering at First Solar. Belikoff succeeds Randall Corey, who announced his retirement earlier this year. Corey will remain with sPower through the end of the year to support the transition.
• Vivint Solar, a Lehi-based residential solar provider in the U.S., has closed on two debt transactions totaling $545 million in incremental lender commitments. The first is a $245 million upsize to the company’s existing multi-lender revolving warehouse facility closed in 2019, for a total of $570 million in aggregate commitments. The second is a $300 million hold-co loan facility provided by the Brookfield Infrastructure Debt Fund, a global credit-focused platform managed by Brookfield Asset Management Inc. The revolving warehouse facility's margin will increase to 3.1 percent with no change to the maturity date, advance rate or other material commercial terms of the facility. The hold-co loan facility allows for additional borrowings on future contracted cash flows of $100 million and will have an interest rate of 8 percent with a three-year maturity. When combined, the two debt facilities create an implied all-in interest rate of approximately 4.4 percent on new assets originated. BofA Securities Inc. acted as sole structurer and arranger for the hold-co loan.
FINANCE
• Red Door Capital Partners LLC, a Salt Lake City-based independent private equity firm, has announced its first transaction with PAY2DAY Solutions Inc. dba Authvia, based in Los Angeles. Under the terms of the agreement, Red Door Capital Partners will provide a bridge loan and permanent financing of up to $7 million to fund Authvia’s current growth plan. Authvia is a technology firm offering applications and a platform that facilitates contactless, secure and fast payment acceptance via popular messaging platforms.
GOVERNMENT
• Two previously postponed events, the Utah Economic Summit and the Utah Energy Summit, have been combined for this year. The Utah Economic & Energy Summit will take place Oct. 26, 8 a.m.-5 p.m., at the Grand America Hotel in Salt Lake City. The 14th Annual Utah Economic Summit was originally scheduled for June 18. The Ninth Annual Governor’s Energy Summit was originally scheduled for May 18, then postponed until Oct. 21. Details about the combined event are at https://utaheconomicsummit.com/.
• The Paiute Indian Tribe of Utah will receive $1.5 million to design and construct a public health facility in Cedar City. The new facility will house a range of tribal health services, including primary healthcare, behavioral and dentistry. The funding is part of $18.25 million that the U.S. Department of Housing and Urban Development has awarded to tribes in the Rocky Mountain region. HUD announced nearly $120 million in Indian Community Development Block Grant (ICDBG) awards to Tribes across the U.S. The ICDBG program provides funding to use in developing American Indian and Alaska Native communities.
HOSPITALITY/FOOD SERVICE
• Entrata, a Salt Lake City-based destination intelligence platform company, has hired Dave Bahlman as global head of sales. Bahlman has more than 25 years of experience in the hospitality industry, managing restaurants, hotel sales and revenue teams. He most recently was vice president of ADARA’s Tourism and Hospitality Division. He also served as deputy acting director at the Maryland Office of Tourism, director of Global DMO and supplier marketing strategy at Orbitz Worldwide.
INVESTMENTS
• Central Logic, a patient orchestration and tools company based in Utah and Minnesota, has secured a majority investment fromRubicon Technology Partners, a private equity firm based in Boulder, Colorado, that is focused exclusively on enterprise software companies. The amount was not disclosed. The investment will be used to accelerate Central Logic’s growth through product innovation, sales expansion, delivery and customer support, and the pursuit of acquisition opportunities. Ziegler, a national boutique investment bank, advised Central Logic on the transaction.
• Tamarak Capital has expanded to a multi-family office with an external round of funding from Sam and Kacie Malouf, founders of home furnishings and sleep technology company Malouf, based near Logan. The funding amount was not disclosed. Founded in 2016, Tamarak is a venture-focused family office with a portfolio of companies in myriad growth stages and industries.
MEDIA/MARKETING
• The Walton Group Inc., a Provo-based media and marketing relations firm, has gained two team members with the additions of Hannah Swanson and Camilla Bennett. Swanson is a Brigham Young University student studying public relations, and Bennett is a Utah Valley University student studying international business. Both will assist clients in their marketing and media relations needs.
NONPROFITS
• Ruff Haven Crisis Sheltering, a nonprofit aimed at keeping pets with people, has launched in Salt Lake City. It provides a temporary place to keep pets and people together in times of crisis and ultimately to decrease the number of pets entering the shelter system. The services are provided at 1370 S. 400 W.
REAL ESTATE
• The Alloy at Geneva, a 324-unit multifamily asset within the Geneva master-planned community in Vineyard, has been sold by an affiliate of Dekel Capital and an affiliate of Mountain Capital Partners to Roundhouse for an undisclosed amount. Built in 2015 on 15 acres, the 314,562-square-foot property is composed of 14 three-and four-story residential buildings and a clubhouse. Brock Zylstra, first vice president of Institutional Property Advisors, and IPA’s Steve Gebing, Cliff David and Danny Shin represented the seller.
• The Lotus Co., a Salt Lake City-based property development company, has announced two new residential communities that have broken ground in Ogden: Whisperwood and Foxridge. Scheduled for completion by February 2021, Whisperwood consists of 40 rental homes near the mouth of Ogden Canyon. Foxridge by Lotus consists of 26 rental homes and is expected to be completed by December. Also, Kelcie Welch, newly appointed director of design for Lotus, officially joined the company after working on the design packages for both community developments on a freelance basis with KWA Interiors. She joins Lotus from JZW Architects.
• Mountain West Commercial Real Estate has opened an office in Utah County, and added the following broker partners: Cody Black, Shad Webb, Mary Street, Bill Street, Ben Ellsworth, Brandon Johnson, Nic Woods, Karli Black, Julie Johnson, Alexis Osmond, Gayla Bell and Pete Rossi. The office is at 1064 S. North County Blvd., fourth floor, Pleasant Grove.
RETAIL
• Harmons Neighborhood Grocer has awarded Bitter’s Lab, Salsa Queen and Days Fresh Produce $5,000 each as part of its Local Supplier Development Grant initiative. The annual grants program, now in its fifth year, rewards local businesses “for their exceptional dedication and effort in providing high-quality products to Harmons for its customers.” A premium cocktail bitters company, Bitter’s Lab provides educational courses, buying locally and creating partnerships with local nonprofits like Grand Staircase Escalante Partners and The Green Urban Lunchbox. Salsa Queen produces fresh salsas and plays an active role in supporting local charities and contributing to the local food bank. Days Fresh Produce focuses on summer employment opportunities, purchasing supplies from local businesses and providing fresh food produced locally.
SERVICES
• Buy Box Experts, a Lindon company focused on brand management for Amazon sellers, has hired Peter Kearns as vice president of partnerships. Kearns has nine years of leadership experience in business development and client solutions at Amazon and agencies supporting Amazon brands. He also has experience at Feedvisor and 180Commerce.
TRANSPORTATION
• Aviation ground services company TAC Air has promoted Christina Lang, a Salt Lake City native who once worked at the TAC Air Fixed Base Operations in Provo, to lead its fixed base operation in Fort Smith, Arkansas, as general manager. A six-year veteran of TAC Air, Lang will be responsible for overseeing day-to-day operations, hangar management and leasing while maintaining relationships with TAC Air customers and the Fort Smith Regional Airport. Most recently, Lang worked in Dallas, where she served three years in a systemwide role for TAC Air as manager of administrative services. Prior to that, she was customer service manager at TAC Air in Raleigh-Durham, North Carolina, and customer service representative at TAC Air in Provo.