Salt Lake City – Transactions in Utah’s capital markets hit a record high for the second year in a row, according to MountainWest Capital Network’s (MWCN) annual deal flow report. Now in its 27th year, MWCN’s Deal Flow Report is Utah’s only in-depth analysis of equity-related financial transactions — including mergers and acquisitions, public deals and private placements — that have shaped the environment. state commercial in 2021.
Financial transactions in Utah showed a significant recovery from the impacts of the Covid pandemic in 2021, with MWCN tracking 435 transactions throughout the year – a sharp increase from 289 in 2020, and more in line to 474 in 2019. Total deal value in the state topped $30 billion for the first time, hitting $31.2 billion. This is a significant jump from the previous high of $26.4 billion in 2020 and $25.1 billion in 2019.
According to MWCN, Utah’s track record of GDP growth and high national rankings for favorable business climate continue to attract high-tech jobs as it shifts away from coastal cities to more inland cities. affordable. The Milken Institute’s 2022 Top Performing Cities Report named Provo-Orem as the top largest city in the United States and Logan as the top small city in the United States based on employment levels, wages and population. high tech GDP growth.
“Companies are looking for great places to do business and Utah has been at the top of everyone’s list for years,” says Kady Reese, president of MWCN’s Deal Flow. “This consistency as the ideal climate for running a business with an educated, high-tech workforce continues to benefit the state and helps our capital markets continue to grow.”
Technology and enterprise software/SaaS once again drove the most investment in Utah in 2021, accounting for 41% of deals. Consumer and retail/e-commerce have grown significantly in recent years and now account for 31% of total transactions in this year’s report. Healthcare was third with 14% of Utah’s investment interest.
Utah’s largest disclosed deal value for 2021 was the acquisition of Pluralsight for $3.5 billion, with Divvy and PCF Insurance Services also topping $2 billion. Public issuances in 2021 doubled year-on-year compared to 2020 and included a number of SPACs. The largest public issues included Black Rifle Coffee Company at $1.70 billion, Qualtrics at $1.55 billion and Owlet Baby Care at $1.40 billion.
The Deal Flow Report is a publication of MWCN, a non-profit organization, created to foster a dynamic flow of information on the formation and distribution of capital. It does not report on confidential or otherwise undisclosed transactions.
The full 2021 MWCN Deal Flow Report can be viewed at https://www.mwcn.org/deal-flow/.
About MountainWest Capital Network
MountainWest Capital Network is Utah’s first and largest business networking organization dedicated to supporting entrepreneurial success and dedicated to the flow of financial, entrepreneurial and intellectual capital. Learn more about www.mwcn.org.