Our company name, Banyan Ventures, originates from the Banyan Tree—one of the largest and oldest living organisms on earth. Like most trees, the Banyan Tree puts down roots, grows a trunk, and then branches out. But in unique fashion, the Banyan Tree’s canopy and lateral branches send down aerial roots which ultimately hit the ground, take root, and grow into new, interconnected trunks. In this way, the Banyan Tree rapidly matures and survives, eventually developing hundreds of separate, sturdy trunks.
Like a Banyan Tree, Banyan Ventures has an intricate canopy of partners, practitioners, and professional relationships that work together to cultivate and grow our portfolio of solid, deep-rooted businesses.
Intermountain Nutrition manufactures custom formulas of high-quality supplements, vitamins, sports nutrition, and weight loss products in a variety of forms, including capsules, powders, and liquids. The company is known for completing orders extremely fast relative to industry standards. Products are developed under the direction of a team of scientists, technicians, and professionals with decades of experience, with all production in Intermountain Nutrition’s own FDA-registered and cGMP-certified manufacturing facility in Provo, Utah.
Banyan Ventures will provide Intermountain Nutrition with growth capital to move into a larger facility, purchase new equipment, and expand its product offerings. Banyan is also actively involved with corporate development, consulting the Intermountain Nutrition leadership team on strategies to scale business operations and facilitate growth.
RCA Holdings is a family of companies that delivers the highest quality service for the mission-critical infrastructure and equipment of its customers. A few of RCA’s premier customers include Maverik, Costco, Associated Foods, Walmart, Olive Garden, and Chili’s. RCA is a leading provider of commercial refrigeration, HVAC, and electrical equipment and infrastructure services in the Mountain West.
RCA began in 2012 as a refrigeration services company for restaurants and grocery stores and has quickly expanded to become a one-stop solution for commercial refrigeration, HVAC, and electrical services. Subsidiaries include Epic Refrigeration and Ace Electric.
Two of Banyan’s Managing Directors will serve as active members of the RCA Board of Directors, and one of Banyan’s Investment Board members will also join the RCA Board. In these roles, they will advise and work closely with the RCA leadership team to scale business operations, devise strategy and growth plans, and provide acquisition support as RCA brings more companies under the brand.
RCA will utilize Banyan’s capital investment to expand the company’s footprint across the Mountain West region and improve operational efficiencies.
Founded in 2011, Terra Flame Home specializes in the design, manufacturing, and distribution of indoor and outdoor bio-fuel firespaces, including: fireplaces, fire tables, fire pits, torches, lanterns, etc. The innovative furniture is powered by a unique odorless, smokeless, and virtually CO2-free fuel called SunJel, which provides a clean-burning and beautiful flame and requires no ventilation.
With their ability to incorporate fire into spaces where it wasn’t an option before, Terra Flame Home’s products have revolutionized interior design and outdoor living and have attracted the attention of urban dwellers, outdoor patio dealers, landscape architects, and interior designers, including an endorsement from HGTV design star and best-selling design author Candice Olson. The company’s products are furniture, art, and accessory, bringing beauty, design, and utility to any home.
The investment from Banyan has enabled Terra Flame Home to expand its distribution channels and product offerings, and the company is currently seeking retail partnerships across the United States and Canada. Banyan oversees the company’s financial and accounting functions and has helped to recapitalize and reorganize the business and optimize product production.
MobilityRE develops applications for real estate professionals that allow homebuyers to search and view on their mobile device any property on the Multiple Listing Service (MLS). The listings are custom-branded with the subscribing real estate broker's or agent's contact information to increase brand awareness, and the apps utilize innovative lead capture and analytics to ultimately help real estate professionals attract more clients and sell more homes.
Banyan Ventures invested in and began working with MobilityRE in 2012. The company intensified its marketing efforts, which resulted in purchased subscriptions from many of the leading real estate professionals in the United States and Canada. MobilityRE was sold to a strategic acquirer in 2017.
Rev-It Delivers was founded in Salt Lake City, Utah, in 2005. The company provides last-mile and same-day delivery, warehousing, and logistic services for several of the country's most recognized brands, including IKEA, FedEx, Iron Mountain, Cardinal Health, and Office Depot. Banyan Ventures acquired the assets of Rev-It Delivers in 2011 and began operating the company as Rev-It Logistics.
In conjunction with the acquisition, Banyan has recapitalized the business, implemented a new financial/accounting system and controls, developed a new sales team, and strengthened relationships with national resellers and distribution partners.
In partnership with The Tollstrup Group, Banyan Ventures formed Palo Verde, LLC in 2011 to acquire attractive rental properties in the Phoenix, Arizona, real estate market, which had been severely weakened over the previous few years. Since its launch, Palo Verde has acquired a wholly owned portfolio of more than 50 properties. The property portfolio has potential for significant appreciation over the next few years as the economy recovers, and participating investors receive current dividends from the rental income, in advance of expected long-term gains.
Banyan has secured all property acquisition capital for Palo Verde through its strategic investment partners and actively oversees all general and administrative aspects of the company. Banyan also works with The Tollstrup Group to manage all facets of acquiring, rehabbing, and renting the properties.
Savvi is an online and mobile merchant discount network that offers consumers an innovative way to save on items they buy every day. Savvi was founded in 2010 through a joint venture between Access Development and Banyan Ventures. Access is the largest merchant promotional network in the United States—managing direct contracts with over 300,000 retail locations—and provides the foundation for Savvi's local merchant content.
For a low monthly fee, Savvi members can access thousands of merchant discounts through a web browser or a smart-phone application, making it easy to find and redeem deals. Savvi offers exceptional discounts with local merchants in 20,000+ zip codes across the country and with 1,400 online retailers, including 1 million searchable daily deals. Savvi also provides members the opportunity to see and share deals with other members and to earn Savvi cash to secure deep discounts on items in the Savvi Store. Savvi has established a social media presence through the "Savvi Says" blog and several popular social networking platforms.
Banyan has led all facets of Savvi's development to-date and has brought in key strategic investment partners to fund Savvi's growth.
Banyan Ventures made an initial investment in Chapman Innovations and assumed management control in 2003. Chapman Innovations was founded in Salt Lake City, Utah, in 1998, developing, producing, and marketing thermal fabric solutions under the brand CarbonX®. Made of a patented blend of high-performance fibers, CarbonX non-flammable fabrics and apparel are widely used in protective applications for industrial safety, construction, welding, molten metal, utilities, pulp and paper, oil and gas, firefighting, motorsports, and tactical/police.
Banyan recapitalized the company, established an entirely new management team to support the company's growth strategy, and helped develop and refine the company's manufacturing, marketing, sales, distribution, and administrative processes. Chapman Innovations grew significantly and received numerous awards for being one of Utah's most innovative and rapidly growing businesses.
Chapman Innovations now operates as a wholly owned subsidiary of Tex Tech Industries, after the company and its flagship brand CarbonX were acquired by Tex Tech in 2014.
Metro Ready Mix was founded in 2004 and quickly became a trusted partner for many of Utah's largest builders and developers. Operating two plants, 50 trucks, and a rail terminal in Salt Lake County and Utah County, Metro Ready Mix provides concrete for all types of residential and commercial construction along the Wasatch Front. A project of note, the company recently completed the 21-mile Murdock Canal enclosure in Utah County.
Under Banyan Ventures' management since 2005, Metro Ready Mix has maintained a relentless focus on delivering quality products and exceptional customer service. The company's annual revenue has grown to $23 million, and its annual EBITDA has exceeded $2.7 million. In addition, Metro Ready Mix has been awarded multiple "Excellence in Concrete" Awards by the American Concrete Institute.
Cell Again reinvented the mobile recommerce industry with its innovative and unique service offerings that allowed customers to buy, sell, trade, and repair used cell phones. Banyan Ventures’ investment in Cell Again provided the company with venture leadership and growth capital to open new stores across the United States. Cell Again operated out of mall kiosks so customers could conveniently visit a Cell Again location to sell their old cell phone for cash-on-the-spot or trade-in value toward the purchase of a new or previously-owned phone.
Cell Again was acquired by eRecyclingCorps (ERC), now known as HYLA Mobile, in 2014.www.cellagain.com
Banyan Ventures formed Spruce Real Estate Investments, LLC in 2009 to provide growth capital for The Tollstrup Group, a Utah-based real estate brokerage and property management firm. The Tollstrup Group was seeking an investment partner that offered business and financial expertise and leadership.
Spruce and The Tollstrup Group utilized a systematic approach for acquiring, rehabilitating, and reselling foreclosed or distressed properties. Spruce ultimately acquired and then resold dozens of properties along the Wasatch Front from 2009 through 2012.
Banyan, through its Banyan Real Estate Management Company subsidiary, oversaw Spruce on behalf of the participating investors and coordinated funding, documentation, and repayment activities with The Tollstrup Group. All participating investors enjoyed exceptional annual returns, in addition to receiving 100% of their invested capital upon sale of the properties.
Metro Waste was the largest independent hauler and recycler of construction waste in Utah. Founded in 1999, the company hauled approximately 65% of the construction waste generated along Utah's Wasatch Front and recycled nearly 50% of it.
In 2003 Banyan Ventures made an equity investment in Metro Waste and began working with the company's founders to implement a long-term growth strategy. This culminated in Metro Waste becoming fully vertically integrated by constructing and operating its own municipal waste landfill, which significantly increased the company's enterprise value.
In 2004 Metro Waste closed a $25 million growth financing with Sorenson Capital and Zions Bank. Metro Waste was subsequently sold to Waste Management, Inc. in 2008.
Founded in 1985, Graywhale Entertainment was the first music retailer to provide a buy, sell, and trade format for music lovers. Graywhale subsequently expanded its product offerings to include music, movies, and video games. It successfully implemented its buy, sell, and trade format across these forms of media as well as associated electronic products.
From 2004 through 2007, Banyan Ventures served as the Managing General Partner of the company, and in this capacity helped redefine its capital structure, consolidate store ownership, implement inventory management systems, upgrade and relocate its retail locations, align and optimize its product mix, and update its finance and accounting systems. Banyan sold its interest in Graywhale in 2007 through a cooperative management buy-out.
Founded by Banyan Ventures in 2003, BelleHavens created the first equity model in the luxury destination club industry. Forging multiple strategic partnerships, Banyan raised over $10 million in debt and equity capital to fund growth and property acquisitions. Over 100 club members were added through successful marketing and sales efforts, and a world-class hospitality team was put in place to serve and support members.
Banyan sold the club in 2008 to Abercrombie & Kent, a 50-year-old luxury travel company. BelleHavens became the foundation for A&K's new destination club division, the Abercrombie & Kent Residence Club.