"We're delighted to be able to be a contributor to the robust economy here in Utah," Mika said.

Bullock, former chief operating officer of the 2002 Olympics, said the company wants to remain regional.

"There are a lot of private equity firms that work on a national basis that have larger funds," he said. "We like stay close to our companies and be within regional proximity with them. We like partnering and working with their management teams to see them grow and develop. And we find that this size range really fits with what's available in the Mountain West."

Mika said the target companies are "really in our power alley to help them take advantage of opportunities in the marketplace... Anything smaller and we don't have that experience base (to help). For larger companies, it's harder to move the needle with the kind of help that we can provide."

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E-mail: bwallace@desnews.com