Arizona Deal Intelligence - December 2023


This report is prepared as a courtesy to the Arizona business community by Columbia West based on our research and information collected by our firm. Despite our dedicated efforts, occasionally a deal might be missed or appropriate credit not given to legal or financial advisors. Please feel free to contact us if you have information on a transaction that you want to ensure is included and credit attributed to appropriate advisors. Also, feel free to forward to others who may have interest; they can be added to the regular distribution by contacting our office. Our contact information is below.

M&A - Strategic

12/1/2023 The Pennant Group, Inc. (NasdaqGS:PNTG) acquired Southwestern Palliative Care and Hospice. The terms of the transaction were not disclosed. Southwestern provides hospice services across Arizona and is based in Yuma.

12/1/2023 Diné Development Corporation acquired Spin Systems Inc. The terms of the transaction were not disclosed. Diné delivers IT, professional, and environmental services to government agencies and commercial firms and is based in Scottsdale.

12/1/2023 Benefit Commerce Group LLC acquired Fraser Group, LLC. The terms of the transaction were not disclosed. Fraser operates as a retirement plan consulting firm and is based in Scottsdale. Benefit Commerce provides employee benefit plans, such as health plans, insurance solutions, HSAs, HRAs, FSAs, group life disability, CDHPs, and other employee benefit plans, and is based in Scottsdale.

12/1/2023 Liquidity Services Operations LLC agreed to acquire Sierra Auction Management, Inc. for $13.5 million. The transaction closed on 1/3/2024. Sierra is an auction company that provides sale and disposition of vehicles, equipment, and surplus assets and is based in Phoenix.

12/5/2023 US LBM Holdings, LLC acquired Holderness Supplies. The terms of the transaction were not disclosed. Holderness manufactures and supplies wood roofs, floor trusses, and lumber products and is based in Tucson.

12/5/2023 Life365, Inc. acquired AffirmXH, Inc. The terms of the transaction were not disclosed. Phoenix-based Life365 is a leader in transforming healthcare through innovative health monitoring technology and other solutions. The acquisition was completed under the LifeConnect division, and signifies a major step in expanding their reach in health monitoring. Buchalter served as legal advisor to Life365.

12/6/2023 Off Madison Ave, LLC acquired CGPR LLC. The terms of the transaction were not disclosed. Off Madison provides marketing communication solutions for organizations in the United States and is based in Phoenix.

12/6/2023 Healthcare Outcomes Performance Company acquired Third Technology Capital Investors, LLC, dba MyACTome. The terms of the transaction were not disclosed. MyACTome specializes in balance and stability remote patient monitoring and is based in Phoenix. Healthcare Outcomes provides orthopedic practice and service line management to hospitals and health systems, medical groups and practices, and payors and is based in Phoenix.

12/7/2023 Evive Brands, LLC acquired The Brothers that just do Gutters. The terms of the transaction were not disclosed. Scottsdale-based Evive is a community of franchise brands, including Executive Home Care, Assisted Living Locators, and Grasons.

12/7/2023 GT Medical Technologies, Inc. agreed to acquire substantially all of the assets related to the commercial Cesium-131 business of Isoray Medical, Inc., a subsidiary of Perspective Therapeutics, Inc. GT develops and manufactures medical equipment for the treatment of brain tumors and is based in Tempe. Latham & Watkins LLP is serving as legal advisor to GT. Gallagher & Kennedy is serving as legal advisor to Perspective.

12/11/2023 H&E Equipment Services, Inc. (NasdaqGS:HEES) agreed to acquire Precision Rentals LLC. The transaction closed on 1/2/2024. The terms of the transaction were not disclosed. Precision engages in the rental of lifting products and is based in El Mirage.

12/11/2023 Brandt Information Services, LLC acquired Itinio Reservation Management Applications and Services, LLC. The terms of the transaction were not disclosed. Itinio is a cloud-based reservations & management suite with responsive point-of-sale, e-commerce, and revenue-building yield management and marketing tools tailored to state, county, and municipal park operations and is based in Phoenix.

12/12/2023 Bowman Consulting Group Ltd. (NasdaqGM:BWMN) acquired Hess-Rountree, Inc. The terms of the transaction were not disclosed. Hess-Rountree provides civil engineering, land surveying, and infrastructure planning services to public and private sector clients throughout Arizona and is based in Phoenix.

12/12/2023 Unified Commerce Group acquired an unknown majority stake in Spiritual Gangster Holdings, Inc. The terms of the transaction were not disclosed. Spiritual Gangster engages in the retail of activewear online, selling men's, women's, and children's clothing, and is based in Scottsdale.

12/12/2023 Knight-Swift Transportation Holdings Inc. (NYSE:KNX) acquired 13 Terminals from Yellow Corporation (OTCPK:YELL.Q) for $51.3 million. Based in Phoenix, Knight-Swift provides freight transportation services in the United States and Mexico, operating through four segments: Truckload, Less-than-truckload, Logistics, and Intermodal.

12/14/2023 Vensure HR, Inc. acquired Canadian Payroll Services Inc. The terms of the transaction were not disclosed. Vensure offers human resource consulting, managed services, and global business process outsourcing services and is based in Chandler.

12/14/2023 Modigent acquired Tebarco Mechanical. The terms of the transaction were not disclosed. Modigent provides commercial heating, ventilation, air conditioning, and infrastructure services and is based in Phoenix.

12/14/2023 Osaic, Inc. agreed to acquire Lincoln Financial Advisors Corporation and Lincoln Financial Securities Corporation from Lincoln National Corporation (NYSE:LNC). Osaic is a provider of wealth management solutions and is based in Phoenix.

12/19/2023 LAPIS Automotive LLC acquired Mercedes-Benz of Northern Arizona. The terms of the transaction were not disclosed. Mercedes-Benz of Northern Arizona operates as an automotive dealership and is based in Flagstaff.

12/20/2023 Republic Services, Inc. (NYSE:RSG) acquired Central Texas Refuse Inc. from Integrated Waste Solutions Group, LLC. The terms of the transaction were not disclosed. Republic, together with its subsidiaries, offers environmental services in the United States and is based in Phoenix.

12/21/2023 University Games Corporation acquired The Learning Journey International, LLC. The terms of the transaction were not disclosed. The Learning Journey designs and manufactures children's interactive educational products and is based in Phoenix.

12/27/2023 Crest Insurance Group, LLC acquired Candy Insurance Agency. The terms of the transaction were not disclosed. Candy is an insurance agency that provides custom-tailored insurance and surety solutions with an expertise in the electronic security field and is based in Gilbert. Crest is an insurance brokerage firm based in Tucson.

Private Placements

12/4/2023 Camston Wrather, LLC announced that it has raised funding that included participation from new investor KG Investments Fund, LLC. KG is a principal investment firm based in Scottsdale.

12/5/2023 Neurolens, Inc. announced that it has raised $45.0 million in venture debt from new investor Trinity Capital Inc. (NasdaqGS:TRIN). Trinity is a venture capital firm specializing in venture debt and is based in Phoenix.

12/20/2023 Vensure HR, Inc. announced that it has received $500.0 million in a round of funding led by new lender Stone Point Capital Markets. Vensure offers human resource consulting, managed services, and global business process outsourcing services and is based in Chandler.

12/21/2023 Cart.com, Inc. announced that it has raised $30.0 million in a round of funding that included participation from new investor Trinity Capital Inc. (NasdaqGS:TRIN). Trinity is a venture capital firm specializing in venture debt and is based in Phoenix.

John Farr