Company news information may be sent to brice.w@thecityjournals.com.
AUTOMOTIVE
• Ken Garff Automotive Group, based in Salt Lake City, has acquired Larry H. Miller Lexus Murray, Larry H. Miller Lexus Lindon and Larry H. Miller Chrysler Jeep Dodge Ram Bountiful from Asbury Automotive Group. The dealerships are now called Lexus of Murray, Lexus of Lindon and Bountiful Chrysler Jeep Dodge Ram. Financial terms were not disclosed. Ken Garff intends to retain existing employees. With the acquisition, Ken Garff operates 14 dealerships in nine states.
BANKING
• TAB Bank, based in Ogden, reported that it funded growth for 218 companies in the second quarter, with loans totaling $66 million. Companies signed with TAB Bank for working capital, cash flow management through factoring, equipment purchases and small-business lines of credit. Businesses in the manufacturing, transportation, health care, food, fintech and toy/game industries selected TAB Bank as their financial partner. The highest-dollar deal was $8 million for a company involved in global sourcing, supply chain management, manufacturing and nearshoring solutions in Ohio. A $5 million deal was for an exotic and collector car financing dealer in Utah. Also in the second quarter, the bank provided equipment financing to 140 companies, with a combined value of $15.2 million, and TAB also funded 55 small- to medium-sized businesses. TAB Bank also announced it has closed $5 million in financing for Package Steel Systems, consisting of a $3.5 million revolving line of credit and a $1.5 million term loan. The funds will help the steel building manufacturer accelerate growth. Established in 1950, the company designs, details and fabricates its own materials. Key products include pre-engineered steel buildings for commercial, industrial, sports, leisure, retail, institutional and self-storage sectors. Miles Capital Partners brokered the deal.
CONSTRUCTION
• Sunroc Corp., a Spanish Fork-based subsidiary of Clyde Cos., has announced it will operate as Suncore Construction & Materials Inc. It will continue as a supplier of construction materials and services. The new name will roll out over the next several months, reaching customers and partners across Utah, Idaho, Colorado, Arizona, Wyoming and additional markets as Suncore continues to expand. The company said the rebrand eliminates current legal barriers that prevent the Sunroc name from being used everywhere it operates. President Mark Elder said it also positions the company to “build a future without limits,” allowing it to operate under one name in its existing markets as it expands into new markets. Suncore’s logo echoes the Clyde Cos.’ “bolt” mark.
DIRECT SALES
• LifeVantage Corp., a Lehi-based health and wellness products company, has announced it will launch in Iceland in September by offering consumers there several of its products. The company plans to introduce additional products into the Icelandic market over time.
DIVIDENDS
• The board of directors of Zions Bancorporation NA, based in Salt Lake City, has declared a regular quarterly dividend of 45 cents per common share. It will be paid Aug. 21 to shareholders of record Aug. 14. The board also declared the regular quarterly cash dividend on the company’s Series A perpetual preferred shares, payable Sept. 15 to shareholders of record Sept. 1. Zions operates banks in 11 western states.
ECONOMIC INDICATORS
• Utahns who stayed at their jobs the past year saw their pay increase an average of 4.8 percent, according to ADP, a company focused on human resources and payroll solutions. That put Utah at No. 12 among states. Their median annual salary was $56,700. The national figure was $60,700. The national wage growth for people who changed jobs was unchanged at 7 percent from a year earlier. The highest growth in an industry was 5.1 percent in financial activities, followed by manufacturing at 4.6 percent.
• Utah is ranked No. 5 on a list of states with the most affordable assisted living, compiled by Caring.com. It examined several factors, including the cost of assisted living, home care and more. The average cost of assisted living in Utah is $56,220. South Dakota has the lowest figure, at $52,200. Details are at https://www.caring.com/resources/most-affordable-states-for-senior-care/.
• Law is Utah’s most cut-throat career, according to YourFreeCareerTest.com and based on a survey of employees about the most ruthless positions in terms of career ambition. It is followed by real estate, finance, IT and tech. Details are at https://www.yourfreecareertest.com/blog/ruthless-professions-by-state-survey/.
• Two Utah foods are on a list of “America’s Favorite Summer Dishes,” compiled by photo book company Mixbook and based on a survey. They are fry sauce burgers with garden slaw, No. 99 nationally, and No. 108 funeral potatoes. The top-ranked item nationally is blueberry pie with vanilla ice cream, from Maine. Details are at https://www.mixbook.com/inspiration/summer-state-recipes.
• Salt Lake City is the city that best represents “the heart and soul of baseball” in Utah, according to a survey by Gambling N’ Go. It is followed by Ogden and Orem. Details are at https://gamblingngo.com/guides/top-places-in-the-u-s-that-define-baseballs-true-spirit/.
• Washington County is ranked No. 68 on a list of “counties most vulnerable to flooding,” compiled by LawnStarter. Salt Lake County is No. 894. The lowest-ranked Utah county is Iron County, at No. 722. The most vulnerable county in the U.S. is Bergen County, New Jersey. The No. 938 county is Southampton County, Virginia. Details are at https://www.lawnstarter.com/blog/studies/most-vulnerable-counties-flooding/.
• Salt Lake City, at No. 50, is the highest-ranked Utah location on a list of “dirtiest cities in America,” compiled by Lawn Starter. Ogden was lowest, at No. 176. The dirtiest city overall is San Bernardino, California. Details are at https://www.lawnstarter.com/blog/studies/dirtiest-cities-in-united-states/.
• Utah is ranked No. 4 on a list of “loneliest states in America,” compiled by ValuePenguin by LendingTree using U.S. Census Bureau Household Pulse Survey data. Sixteen percent of Utahns report experiencing frequent feelings of loneliness in 2024. The national average is 13.3 percent. The highest figure is in Mississippi, at 17.1 percent. The lowest rate, 11 percent, is in New Jersey. The study found that 38.4 percent of Utahns go more than a week without socializing with friends or family, which ranks No. 48 among states. The U.S. average is 41.4 percent. Alaska and Nevada have the highest average, at 46.5 percent. The District of Columbia is lowest, at 36.7 percent. Details are at https://www.valuepenguin.com/loneliness-study.
• Three Utah locations are on a list of “coastal communities with the most stunning views,” compiled by New Jersey Real Estate Network and based on a survey. They are Garden City (ranked No. 29 nationally), No. 64 Moab and No. 110 Huntsville. The top location overall is Kaunakakai, Hawaii. Details are at https://www.newjerseyrealestatenetwork.com/blog/coastal-town-survey/.
• Three Utah locations are on a list of “chic-but-cheap summer escapes,” compiled by financial media company MarketBeat and based on a survey seeking locations “that feel luxurious without breaking the bank.” They are Boulder, ranked No. 37 nationally, No. 81 Torrey and No. 103 Midway. The top-ranked location overall is Twin Lakes, Colorado. Details are at https://www.marketbeat.com/originals/the-top-120-lesser-known-affordable-luxury-vacation-spots-in-the-us/.
• Navajo Lake in Dixie National Forest is the top Utah location for natural therapy, according to a survey by A Mission for Michael. It is followed by Calf Creek Falls in Grand Staircase–Escalante and Kodachrome Basin State Park in Cannonville. Details are at https://amfmtreatment.com/blog/healing-horizons/.
• Three Utah locations are on a list of “Best Stargazing Spots in the U.S.,” compiled by TarotCards.io and based on a survey of campers and skywatchers. They are Natural Bridges National Monument in San Juan County, ranked No. 10 nationally; No. 28 Dead Horse Point State Park near Moab; and No. 42 Capitol Reef National Park in Central Utah. The top-ranked location overall is Polipoli Spring State Recreation Area, Maui, Hawaii. Details are at https://tarotcards.io/blog/top-145-best-places-to-stargaze-in-the-us-survey.
HEALTH CARE
• Myriad Genetics Inc., a Salt Lake City-based company focused on molecular diagnostic testing and precision medicine, has closed a five-year senior secured term loan credit facility providing up to $200 million of capital from OrbiMed, a global health care investment firm. The facility includes $125 million of funded capital with an option to borrow up to an additional $75 million until June 30, 2027. This facility matures July 31, 2030. The new credit facility with OrbiMed replaces Myriad’s previous ABL facility. The credit facility is secured by substantially all the assets of Myriad Genetics and its subsidiaries.
• The Huntsman Mental Health Institute at the University of Utah has launched a specialized 24/7 crisis stabilization program designed for children and adolescents experiencing mental health emergencies. The Youth Crisis Care program provides immediate walk-in access to specialized care for youth ages 5-17. The new program is backed by gifts from several donors. The program is located at 501 Chipeta Way, Salt Lake City, on the first floor of Huntsman Mental Health Institute. It can accommodate up to 12 patients on a rolling admission basis. The care team evaluates each individual, with some only staying a few hours and others receiving up to 23 hours of stabilization care before being discharged or recommended for admission to the hospital or a more comprehensive program for further care.
INDOOR RECREATION
• The Picklr, a Kaysville-based indoor pickleball franchise company, has announced an expansion into Australia and New Zealand. Through an agreement with TPM Partners Pty. Ltd., The Picklr will open 50 new clubs, with 44 planned in Australia and six in New Zealand over the next several years. The first Australian facility is set to open in Sydney. All clubs will feature The Picklr’s design, amenities and programming. Facilities will be developed in big-box retail and warehouse-style spaces, ranging from 1,500 to 3,000 square meters. This year, The Picklr has also expanded into Japan and Canada, with more than 500 locations opening worldwide over the next few years.
INTERNATIONAL
• World Trade Center Utah is seeking Utah companies to participate in ISPO Munich, a trade show for outdoor innovation taking place Nov. 30-Dec. 2 in Germany. The application deadline is Sept. 15. ISPO Munich in 2024 had more than 2,300 exhibitors and approximately 55,000 visitors from over 113 countries. Details are available by emailing Clay Smith at csmith@wtcutah.com.
INVESTMENTS
• HeroDevs, a Sandy-based provider of security and compliance solutions for deprecated open source software, has secured a $125 million strategic growth investment from growth equity firm PSG. Existing investor Album also participated in the round. HeroDevs said the investment will help it secure enterprise security stacks against threats by strengthening its Never-Ending Support solutions, which help provide seamless and secure replacements for vulnerable unsupported or outdated OSS versions. HeroDevs will also dedicate $20 million of capital towards its Open Source Sustainability Fund to support open source creators, maintainers and projects that follow end-of-life best practices. D.A. Davidson and Ampleo served as financial advisors to HeroDevs, and Foley & Lardner LLP served as legal advisor. Weil, Gotshal & Manges LLP served as legal advisor to PSG.
• Scrunch AI, a Salt Lake City-based company focused on helping brands’ AI searchers, has raised $15 million in a Series A funding round led by Decibel and with participation from Mayfield, Homebrew and others. Over 500 brands use the company’s platform to monitor and enhance their visibility in AI search results. The new funding will be used to speed the development and deployment of the Scrunch Agent Experience Platform, a new infrastructure layer that helps brands serve optimized content directly to AI crawlers and agents.
• Calmwater Capital, a California-based private commercial real estate lender, has provided Stanton Road Capital with $22.8 million in short-term bridge debt to refinance Kimball on Main, a 25,429-square-foot retail complex at 675 Main Street in Park City’s Old Town. The property is on a 0.43-acre corner lot at Heber Avenue. Originally built in 1990, the property was renovated in 2018, which included the construction of a three-story building facing Main Street. The property features seven street-level store fronts and a second-floor event space. Kimball on Main is currently 83 percent leased. Stanton Road Capital acquired it in 2022. Founded in 2010, Calmwater Capital has originated over $4.3 billion in loans across 254 transactions. The founders of Stanton Road Capital, established in 2013, have acquired over $7 billion of commercial and residential real estate. SRC owns and operates a portfolio in excess of 6 million square feet and 2,500 residential units.
• Wasatch Health, the health care investment affiliate of the Wasatch Group, based in Logan, has launched its Structured Capital Fund, which will raise up to $150 million and focus on providing flexible, minimally dilutive capital to health care companies navigating key inflection points in their growth. The fund will allow for structured equity, convertible instruments and other fixed-income formats, aimed at offering an attractive alternative to traditional financing solutions. Wasatch Health earlier this year transitioned from MedVenture Health.
PARTNERSHIPS
• Lido Advisors, a California-based wealth advisory firm, has announced a partnership with Olympus Wealth Management, a Cottonwood Heights-based independent wealth management firm. Olympus specializes in helping high-net-worth and ultra-high-net-worth business owners and families position themselves for long-term success. The entire Olympus team will remain in Cottonwood Heights, with its office becoming one of Lido’s key locations. Turkey Hill Management is serving as financial advisor and the Salt Lake City office of Dentons is serving as legal advisor to Olympus. Sidley Austin LLP is serving as legal advisor to Lido.
• Instructure, a Salt Lake City-based provider of education software, has announced an integration with OpenAI, an AI research and deployment company, that introduces a new integration that enables teachers to create large language model workflows directly in the LMS. The collaboration will begin with an effort between Instructure and OpenAI to enhance the Canvas experience by embedding OpenAI’s next-generation AI technology into the platform.
• Greenix Pest Control, based in Orem, has announced a strategic partnership with Gridiron Capital Partners. Founded in 2011, Greenix protects more than 250,000 homes across 19 markets in 16 states. The company said the new partnership positions Greenix for continued success through organic growth and strategic acquisitions, with an emphasis on market expansion, innovation and cultural continuity under a unified brand. William Blair served as lead financial advisor. Kirkland & Ellis provided legal counsel. LR Tullius also advised Greenix on the transaction.
RECOGNITIONS
• The Davis Chamber of Commerce has announced the finalists for its annual awards, to be recognized at an event Sept. 25, 6-9 p.m., at the Davis Conference Center, Layton. Finalists for Business of the Year are Lakeview Hospital, Rosewood Home Remodeling and Utility Trailer. Finalists for Small Business of the Year are Pack Tax, The Singing Arborist and True Pros Heating & Air. Finalists for Employer of the Year are Academica West, Bonnell Aluminum and LSI. Finalists for the Business Innovation Award are Evolution Fitness, Fineline Steel Fabrication and Larklean. Finalists for Community Impact are National Center on Shaken Baby Syndrome, Texas Roadhouse Layton and The Young Caring for Our Young Foundation. Recipients of the 2025 Rising Star Award are Emily Cottrell, insurance and retirement planning agent at New York Life; Simon Mortensen, branding and public relations specialist at Oz Marketing; and Tyson Reeder, marketing director in Layton for Chick-Fil-A. The recipient of the 2025 Legacy Award is Bob Stevenson, Davis County commissioner.
• A pair of brands within Five Star Franchising, based in Springville, are on a list of “Top Franchise Brands for Multi-Unit Owners,” compiled by Entrepreneur. Mosquito Shield ranked No. 58, and Five Star Bath Solutions ranked No. 107 on this year’s list. Both were named for the second consecutive year. Mosquito Shield provides residential mosquito, tick and perimeter pest control service. Five Star is a bath remodeling operation. Both brands also earned spots on Entrepreneur’s 2025 Franchise 500, with Mosquito Shield ranked No. 136 and Five Star Bath Solutions at No. 233. The rankings are based on more than 150 data points, including franchise fees, unit growth, support systems and overall brand performance.
• Supplemental Health Care, Salt Lake City, is on lists of “Largest Healthcare Staffing Firms” and “Largest Staffing Firms” in the U.S. for 2025, compiled by Staffing Industry Analysts, a global advisor on staffing and workforce solutions. With over 40 years of experience in the industry, SHC has evolved from a specialized behavioral health staffing provider into a leader in comprehensive workforce solutions. SHC offers a suite of services, encompassing per diem, travel and permanent placement staffing, as well as managed services and workforce solutions.
• The Laluz Diffuser, produced by doTerra, a Pleasant Grove essential oils and wellness products company, has been named a winner in the Pampering category of Good Housekeeping’s 2025 Bath Awards. The Laluz Diffuser has up to eight hours of runtime, three ambient light settings, and independent mist and light controls. The awards highlight the best in bathroom essentials, backed by testing at the Good Housekeeping Institute. In addition to hands-on lab testing, the experts incorporated real-world performance insights from 150 at-home consumer testers.
• Awardco, a Lindon-based company focused on employee recognition and rewards, has launched a Center of Excellence, a team of thought leaders and practitioners in rewards and recognition, to provide customers the support they need to build programs “that not only function, but thrive and drive bottom-line results.” The center consists of two core elements: a strategic consultative offering and a research arm to produce industry best practices through quantitative research and practitioner experience.
RESTAURANTS
• Matteo has launched Strada Cucina Italiana at 30 E. Broadway (300 South), Salt Lake City. Its menu includes Italian paninis, artisan pasta dishes and fresh salads, with pasta sauces coming from flagship restaurant Matteo Ristorante. Strada is open for lunch and dinner and offers catering for large groups. Owner Matteo Sogne, his mother Manuela, and Executive Chef Damiano Carlotto have partnered on Strada’s menu.
• Layne’s Chicken Fingers will open a location at 13400 South in Herriman in October. Scott Davis, who recently signed a 15-unit agreement in Utah, is leading the brand’s growth in the state. He opened Utah’s first Layne’s location in Clearfield earlier this year. Founded in 1994, Layne’s has more than 30 restaurants and another 300 sold.
RETAIL
• Walmart has announced plans to become the first grocer in West Haven. A 176,000-square-foot Walmart Supercenter will be in the 4200 block of South Midland Drive, south of 4000 South, and will employ about 300 people. It will feature departments in fashion, baby, home and pets; a pharmacy, a vision center, a mother’s room, an auto care center, and a fuel station with a convenience store. Construction is scheduled to begin late summer or early fall, with an anticipated grand opening in fall of 2026.
TECHNOLOGY
• Qualtrics, an experience management software company based in Provo and Seattle, has received FedRAMP High authorization, the U.S. government’s highest security standard for cloud products and services. Qualtrics said the authorization elevates its ability to provide federal agencies with access to a range of critical human insights to improve the effectiveness of the programs. Using the Qualtrics platform, federal agencies can securely capture and respond to highly sensitive customer and employee feedback across multiple channels and touchpoints, including use cases in health care, national security, law enforcement, veteran affairs and finance.
Correction
An Industry Brief in the July 21 edition had an incorrect attribution for the Chartway Credit Union 2025 Directors’ Memorial Scholarship recipients. The scholarship announcement was made by the Chartway Credit Union.