Arizona Deal Intelligence - February 2024

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

2/1/2024 Axon Enterprise, Inc. (NasdaqGS:AXON) acquired the remaining 80% stake in Fusus, Inc. for $240.0 million. Axon develops, manufactures, and sells conducted energy devices under the TASER brand and is based in Scottsdale. Morgan, Lewis & Bockius LLP served as legal advisor to Axon.

2/2/2024 Kinderhook Industries, LLC acquired Compactor Rentals of America, LLC. The terms of the transaction were not disclosed. Compactor engages in the rental and leasing of new or used commercial trash compactors, vertical balers, and other waste equipment for compaction needs and is based in Phoenix. Winston & Strawn LLP served as legal advisor to Compactor.

2/5/2024 Kraus-Anderson Construction Company, Inc. acquired Sonoran Crest Construction, LLC. The terms of the transaction were not disclosed. Sonoran engages in the healthcare, commercial, and specialty construction business and is based in Phoenix.

2/6/2024 Poba Medical Inc. announced that it has purchased the assets of and created a strategic partnership with Byond Medical. The terms of the transaction were not disclosed. Poba is a contract design and manufacturing company specializing in angioplasty style balloon and catheter development and production and is based in Flagstaff.

2/6/2024 Bruker Corporation (NasdaqGS:BRKR) acquired Spectral Instruments Imaging LLC for $37.5 million. Spectral designs and manufactures preclinical optical systems for bioluminescent, fluorescent, and x-ray imaging and is based in Tucson.

2/6/2024 Morse Operations, Inc. acquired seven dealerships in Sierra Vista from Lawley Automotive Group. The terms of the transaction were not disclosed. Lawley operates as an automotive retail company based in Sierra Vista.

2/6/2024 SageWater, LLC, a Boyne Capital and Grindstone Partners portfolio company, acquired AMA Repiping LLC. The terms of the transaction were not disclosed. AMA is a mechanical services, repiping, and plumbing company based in Queen Creek.

2/7/2024 Vensure Employer Services, Inc. acquired MarathonHR Services, LLC. The terms of the transaction were not disclosed. Vensure provides professional employer organization and human resource outsourcing services to small and mid-market businesses and is based in Chandler.

2/8/2024 Blue Yonder Group, Inc. acquired flexis AG. The terms of the transaction were not disclosed. Blue Yonder designs and develops end-to-end integrated supply chain and retail management software solutions and is based in Scottsdale.

2/12/2024 Valcourt Building Services, LC acquired American Cleaning Systems Inc. (ACS). The terms of the transaction were not disclosed. ACS provides commercial cleaning services, including construction clean-up, data center cleaning, window cleaning, power sweeping, and pressure washing and is based in Phoenix.

2/13/2024 Golf Genius Holdings, LLC acquired Shotzoom, LLC for $23.8 million. Shotzoom designs and develops a mobile golf GPS and instruction application and is based in Tempe.

2/14/2024 Reliance Steel & Aluminum Co. (NYSE:RS) agreed to acquire American Alloy Steel, Inc. The terms of the transaction were not disclosed. Reliance operates as a diversified metal solutions provider and metals service center company and is based in Scottsdale.

2/20/2024 Fennemore announced that it is combining with Wagner Kirkman Blaine Klomparens & Youmans, LLP effective 3/1/2024. The terms of the transaction were not disclosed. Fennemore is a full-service law firm with 17 offices across the U.S. including Phoenix.

2/20/2024 Alta Vista Technology, LLC acquired Digitek Solutions. The terms of the transaction were not disclosed. Digitek provides Sage-partnered IT consulting services for construction and real estate industries and is based in Mesa.

2/20/2024 Huma, Inc. acquired Gro-Power, Inc. The terms of the transaction were not disclosed. Gro-Power manufactures humus-based fertilizer and soil conditioner products and is based in Gilbert. Huma produces soil health and plant nutrition, soil and crop fertility, bioremediation wastewater treatment, and turf and ornamental products and is based in Gilbert.

2/22/2024 Q-Lab Corporation acquired Arizona Desert Testing, LLC. The terms of the transaction were not disclosed. Q-Lab provides testing of automotive interior materials, paints and coatings, and architectural materials and is based in Phoenix.

2/24/2024 Porter VRM LLC, dba Porter Group, acquired Victory Vacations, LLC. The terms of the transaction were not disclosed. Porter operates as a vacation home management company and is based in Scottsdale.

2/26/2024 kSARIA Corporation acquired Charles E. Gillman Company. The terms of the transaction were not disclosed. Gillman is an ISO9100-registered manufacturer of high-reliability electrical cables and harnesses for military ground vehicles and other ruggedized applications and is based in Rio Rico.

2/28/2024 Ally Waste Services, LLC acquired RK Property Services. The terms of the transaction were not disclosed. Ally provides valet trash and recycling services and is based in Gilbert.

2/29/2024 The Cook & Boardman Group, LLC acquired Lanmor Services, Inc. The terms of the transaction were not disclosed. Lanmor provides commercial access solutions including electronic access control products, automatic operators, security systems, commercial steel doors and frames, wood doors, and solution design and installation and is based in Phoenix.

2/29/2024 LaunchPad Home Group, Inc. acquired AJF Inspections & Engineering. The terms of the transaction were not disclosed. AJF provides home, commercial, and sewer line inspection services and is based in Scottsdale.

2/29/2024 Tempest Interactive Media, LLC acquired the Jupiter Destination CRM Technology of Visit Indy, Inc. The terms of the transaction were not disclosed. Tempest, a digital marketing agency, provides search engine optimization, SEM, email marketing, public relations, and social marketing services for customers in education, health care, sports, and travel markets worldwide and is based in Tucson.

2/29/2024 Sunstate Equipment Co., LLC acquired Trench Shore Rentals (TSR) and Trebor Shoring Rentals. The terms of the transaction were not disclosed. TSR provides underground shoring equipment, street plates, and other resources and is based in Phoenix. Sunstate provides construction rental equipment and tools to construction, industrial, and special event companies and is based in Phoenix. Haynes & Boone served as legal advisor to TSR. DLA Piper LLP (US) served as legal advisor to Sunstate.

2/29/2024 Verra Mobility Corporation (NasdaqCM:VRRM) acquired certain assets of PlusPass, Inc. for $31.5 million and fully resolved litigation between the parties. Verra provides smart mobility technology solutions and services in the United States, Australia, Canada, and Europe and is based in Mesa.

Private Placements

2/7/2024 Bills.com, LLC, dba Achieve.com, announced that it has received a round of funding from new investor Sagard Holdings ULC. Achieve.com operates as a marketing lead generator for affiliates and non-affiliates, and as a broker for loans and debt resolution services offered by its affiliates and is based in Tempe.

2/13/2024 Blue Stream Fiber announced that it has received a round of funding in a transaction that included participation from returning investor GI Manager L.P. and new investor Sixth Street Partners, LLC. GI Manager is a private equity, data infrastructure and real estate investment firm based in Scottsdale. Ropes & Gray LLP served as legal advisor to GI Manager.

2/27/2024 World View Enterprises, Inc. announced that it will receive a round of funding from Sierra Nevada Corporation and other investors. World View operates as a global stratospheric exploration company that develops a balloon-based system that will carry people to the stratosphere and is based in Tucson.

2/29/2024 Moxe Health Corporation announced that it has raised $25.0 million in a round of funding that included participation from new investor Trinity Capital Inc. Trinity is a venture capital firm specializing in venture debt and is based in Phoenix.