Arizona Deal Intelligence - September 2019
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
9/4/2019 SCB Global Healthcare Services, LLC acquired Prescott Medical Executive Detox, LLC, doing business as Gallus Detox Centers. The terms of the transaction were not disclosed. Gallus owns and operates drug and alcohol detox centers and is based in Scottsdale.
9/9/2019 The Alkaline Water Company Inc. (NasdaqCM:WTER) agreed to acquire AQUAhydrate, Inc. for $50.8 million. The Alkaline Water Company produces, distributes, and markets bottled alkaline water and is based in Scottsdale. Clark Wilson LLP is serving as legal advisor to Alkaline Water Company.
9/10/2019 American Vision Partners ("AVP") announced the completion of a strategic partnership with Retinal Consultants of Arizona ("RCA"). The terms of the transaction were not disclosed. RCA provides ophthalmology and related medical care services and is based in Phoenix. AVP owns and operates eye care and ambulatory surgical centers and is based in Phoenix. Polsinelli served as legal advisor to Retinal Consultants of Arizona.
9/11/2019 EyeCare Partners, LLC acquired Nationwide Vision Center, Inc. The terms of the transaction were not disclosed. Nationwide Vision Center is an optical retailer and is based in Chandler.
9/11/2019 Shamrock Foods Company agreed to acquire the Boise, Idaho operations of Food Services of America, Inc. The terms of the transaction were not disclosed. Food Services of America is a broad line foodservice distributor and is based in Scottsdale. Shamrock Foods Company produces and distributes food products, institutional foodservice supplies and equipment and is based in Phoenix.
9/11/2019 BlueDevil Products acquired PJ1 Corporation. The terms of the transaction were not disclosed. PJ1 manufactures lubricants for power sports and motor sports and is based in Scottsdale.
9/11/2019 Cadence Education, Inc. acquired Prime Time Early Learning Centers. In a related transaction, Cadence acquired Creative Kids Childcare Centers. The terms of the transactions were not disclosed. Cadence Education provides childhood and private elementary education services and is based in Scottsdale.
9/13/2019 Flex Technology Group and Oval Partners acquired Millennium Business Systems, Inc. The terms of the transaction were not disclosed. Through its subsidiaries, Flex Technology Group provides managed printing, document management and managed information technology services to the printing industry and is headquartered in Mesa.
9/13/2019 National Partners in Healthcare Holdings, LLC acquired Arizona Heart Anesthesia. The terms of the transaction were not disclosed. Arizona Heart Anesthesia offers anesthesia services and is based in Scottsdale.
9/16/2019 EVO Transportation & Energy Services, Inc. (OTCPK:EVOA) acquired Ritter Transportation Systems, Inc. and Ritter Transport, Inc. for $13.7 million. EVO, through its subsidiaries, provides freight trucking services and compressed natural gas service stations for government and corporate contracts and is based in Peoria. Fredrikson & Byron P.A. served as legal advisor to EVO.
9/17/2019 Avnet, Inc. (NasdaqGS:AVT) agreed to acquire Witekio Holding. The terms of the transaction were not disclosed. Avnet is a technology solutions company that markets, sells, and distributes electronic components and is based in Phoenix.
9/17/2019 CopperPoint Insurance Companies agreed to acquire Alaska National Corporation. The terms of the transaction were not disclosed. CopperPoint provides workers' compensation and commercial insurance solutions and is based in Phoenix. Locke Lord LLP is serving as legal advisor to CopperPoint.
9/19/2019 Highway 85 Creative LLC acquired Juleyna LLC, doing business as Exhibit Experts, Inc. The terms of the transaction were not disclosed. Exhibit Experts provides graphics and accessories for trade shows to companies and is based in Phoenix. Highway 85 engages in designing custom exhibits and rental solutions and is based in Glendale.
9/24/2019 Wentworth Financial Partners LLC agreed to acquire Independent Planners Group, LLC. The terms of the transaction were not disclosed. Independent Planners Group is an insurance sales agency and provides an insurance platform for wealth advisors and is based in Scottsdale.
9/26/2019 Audio Visual Management Solutions, Inc. acquired ELITE Audio Visual Solutions. The terms of the transaction were not disclosed. ELITE is a full-service, on-site event technology provider within the hospitality industry and is based in Scottsdale.
9/30/2019 Glacier Bancorp, Inc. (NasdaqGS:GBCI) agreed to acquire State Bank Corp. (OTCPK:SBAZ) for $135.3 million. State Bank Corp. operates as the holding company for Mohave State Bank which provides various banking services to individuals, businesses, and professionals and is based in Lake Havasu City. Hogan Lovells US LLP is serving as legal advisor to State Bank Corp.
9/30/2019 Restoration Builders, Inc. acquired the assets of Mid America Exteriors, Inc. and Mid America Adjusters, Inc. Restoration Builders provides property restoration services to both residential and commercial clients and is based in Phoenix.M&A - Financial9/10/2019 Swander Pace Capital acquired Café Valley, Inc., doing business as Café Valley Bakery. The terms of the transaction were not disclosed. Café Valley produces and distributes bakery products and is based in Phoenix.
M&A – Financial
9/17/2019 MPE Partners acquired an unknown stake in Arizona Shower Door, Inc. The terms of the transaction were not disclosed. Arizona Shower Door specializes in manufacturing and selling bathroom shower doors and custom bathtub enclosures and is based in Phoenix.
Private Placements
9/9/2019 Naumann/Hobbs Material Handling, Inc. announced that it has received a round of funding from an affiliate of CenterGate Capital, L.P. Naumann/Hobbs Material Handling sells, rents, services, and supports material handling equipment and is based in Phoenix.
9/10/2019 World View Enterprises Inc. announced that it will receive $10.0 million in funding. As of September 24, 2019, the company received $7.5 million in its first tranche from 5 investors. World View Enterprises provides space travel services to individuals for research, educational, and scientific pursuits and is based in Tucson.
9/11/2019 Harbor Foodservice agreed to acquire an unknown minority stake in the Seattle Operations of Food Services of America, Inc. Food Services of America is a broad line foodservice distributor and is based in Scottsdale.
9/18/2019 Laser Technologies Service, Inc. announced that is has received a round of funding from new investors Flex Technology Group and Oval Partners. Flex Technology Group, through its subsidiaries, provides managed printing, document management and managed information technology services to the printing industry and is based in Mesa.
9/20/2019 CarboShield Ltd. has received a round of funding from new investor UAVenture Capital, LLC. UAVenture is a venture capital firm specializing in early stage and growth capital investments and is based in Tucson.
9/23/2019 OrbHealth, Inc. received $7.0 million in funding from 10 investors. OrbHealth provides mobile and Web-based health information technology solutions for physicians, employers, clinical laboratories, and individuals and is based in Phoenix.
9/25/2019 IMH Financial Corporation announced that it has entered into an agreement with returning investor JPMorgan Chase Funding Inc. and issued convertible preferred shares for gross proceeds of $6.0 million. IMH Financial is a real estate investment and finance company based in Scottsdale. Ulmer & Berne served as legal advisor to IMH Financial.
9/30/2019 PathogenDx, Inc. announced that it has received $7.5 million in a round of funding led by new investor Cresco Capital Partners, LLC with participation from Arcadian Investment Partners LLC, Flatiron Venture Partners and others. PathogenDx provides testing technology and solutions to botanical, food, and agricultural testing markets and is based in Scottsdale.
9/30/2019 LoanTap Financial Technologies Pvt. Ltd. announced that it has received $12.0 million in its Series B round of funding from Avana Capital, LLC and other investors. Avana Capital offers commercial real estate lending services including SBA and USDA financing and commercial mortgage banking services and is based in Glendale.