Arizona Deal Intelligence - October 2021

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

10/1/2021 Sonora Investment Management joined Focus Financial Partners (NASDAQ:FOCS) as a partner firm. The terms of the transaction were not disclosed. Sonora is an SEC-registered investment advisor. Jennings, Strouss & Salmon, PLC served as legal advisor to Sonora.

10/1/2021 OmniMax International, Inc. acquired Verde Industries, Inc. The terms of the transaction were not disclosed. Verde manufactures roof flashing and plastic weather-blocking products and is based in Phoenix.

10/1/2021 Raley's Family of Fine Stores, Inc. agreed to acquire Bashas' Inc. The terms of the transaction were not disclosed. Bashas' operates grocery stores in Arizona and is based in Chandler. Burch & Cracchiolo P.A. is serving as legal advisor to Bashas'.

10/4/2021 Casago International LLC acquired Nokori Audiences. The terms of the transaction were not disclosed. Casago provides property management and vacation rental services and is based in Scottsdale.

10/5/2021 Foam Fabricators, Inc. acquired Plymouth Foam Inc. for an enterprise value of $56.0 million excluding customary closing adjustments. Foam Fabricators operates a network of molding and fabricating plants that provide shape molded and fabricated foam products, packaging, and components and is based in Scottsdale.

10/5/2021 J.S. Held LLC announced that it has acquired substantially all of the assets of Kotzin Valuation Partners. The terms of the transaction were not disclosed. Kotzin is a financial advisory firm based in Phoenix. Weiss Brown served as legal advisor to Kotzin.

10/6/2021 CentriLogic, Inc. acquired Three Dimensional Resource Planning, LLC. The terms of the transaction were not disclosed. Three Dimensional provides technology consulting and managed services and is based in Scottsdale.

10/7/2021 Kubota Corporation (TSE:6326) agreed to acquire AgJunction Inc. (TSX:AJX) for $75.0 million. AgJunction develops, sells, and licenses hardware and software solutions for precision agriculture applications and is based in Scottsdale. Burnet, Duckworth & Palmer LLP and DLA Piper LLP are serving as legal advisors to AgJunction.

10/8/2021 Cable One, Inc. (NYSE:CABO) agreed to acquire certain assets of Cableamerica Corporation for $113.0 million. Cable One, together with its subsidiaries, provides data, video, and voice services in the United States and is based in Phoenix.

10/8/2021 Rogers Corporation (NYSE:ROG) acquired Silicone Engineering Ltd. The terms of the transaction were not disclosed. Rogers designs, develops, manufactures, and sells engineered materials and components and is based in Chandler.

10/13/2021 Valley National Bancorp (NasdaqGS:VLY) acquired Dudley Ventures, LLC. The terms of the transaction were not disclosed. Dudley provides investment and advisory services and is based in Phoenix.

10/13/2021 Nexa Receptionists Holdings, LLC acquired the Answering Services Division of Crocker Communications, Inc. The terms of the transaction were not disclosed. Nexa offers tech-enabled business services, such as expert-level call answering, inbound and outbound sales, live chat and text, and client and patient intake services and is based in Phoenix.

10/13/2021 LaserShip, Inc. agreed to acquire OnTrac Logistics, Inc. It was reported that the purchase price for this deal was approximately $1.3 billion and will be financed with a $650.0 million incremental first-lien term loan, $225.0 million incremental second-lien term loan and $472.0 million in cash equity. OnTrac provides companies an affordable way to speed up ground delivery and parcel distribution and is based in Chandler.

10/14/2021 Simplicity Group LLC acquired Independent Planners Group, LLC. The terms of the transaction were not disclosed. Independent operates as an insurance sales agency providing an insurance platform for wealth advisors and is based in Scottsdale.

10/15/2021 Bio-Rad Laboratories, Inc. (NYSE:BIO) acquired Dropworks, Inc. for $125.0 million. Dropworks develops FluxPCR, a digital PCR technology that revolutionizes how DNA and RNA are quantified in research and clinical settings, and is based in Phoenix.

10/18/2021 Ting Inc. agreed to acquire Simply Bits, LLC. The terms of the transaction were not disclosed. Simply Bits provides wired and wireless Internet access to homes and businesses and is based in Tucson. Morgan, Lewis & Bockius, LLP is serving as legal advisor to Simply Bits.

10/20/2021 Service Champions, Inc. agreed to acquire Scottsdale Air Heating & Cooling, LLC. In a related transaction, Service Champions agreed to acquire Howard Air. The terms of the transactions were not disclosed. Scottsdale Air provides heating and air conditioning repairs and services and is based in Tempe. Howard provides residential and commercial air conditioning and purification services and is based in Phoenix.

10/21/2021 TRC Healthcare Inc. acquired Bula Intelligence. The terms of the transaction were not disclosed. Bula provides tracking and reporting on regulatory and legislative changes that affect U.S. pharmacies and is based in Phoenix. Weiss Brown served as legal advisor to Bula.

10/22/2021 Good Sportsman Marketing, LLC acquired Gary Yamamoto Custom Baits, Inc. The terms of the transaction were not disclosed. Yamamoto manufactures fishing and tackle baits and is based in Page.

10/25/2021 WillScot Mobile Mini Holdings Corp. (NasdaqCM:WSC) acquired Sommer's Mobile Leasing, Inc. The terms of the transaction were not disclosed. WillScot provides modular space and portable storage solutions and is based in Phoenix

10/25/2021 Loenbro Inc. acquired Switch Electric Inc. The terms of the transaction were not disclosed. Switch designs, constructs, installs, and maintains electrical systems for the data center industry and is based in Phoenix.

10/25/2021 Sun Auto Tire & Service Inc. acquired Gregs Japanese Auto Parts & Service, Inc., Jeff's Auto Repair, Inc., and Gaynor's Automotive, Inc. The terms of the transactions were not disclosed. Sun Auto provides automotive aftermarket repair services under the BRAKEmax and Tire Works brands and is based in Tucson.

10/27/2021 Sectyr® acquired LicenseTrak™. The terms of the transaction were not disclosed. Sectyr® offers cloud-based software solutions for healthcare providers and is based in Scottsdale.

10/28/2021 Remitter USA Incorporated acquired Mercantile Adjustment Bureau, LLC. The terms of the transaction were not disclosed. Remitter develops a digital receivables payment and communications platform and is based in Tempe.

M&A - Financial

10/4/2021 Pharos Capital Group, LLC acquired an unknown majority stake in THEMA Health Services. The terms of the transaction were not disclosed. THEMA offers hospice, skilled home health, and palliative care services and is based in Phoenix.

10/14/2021 Stonecourt Capital LP acquired Moon Valley Nursery, Inc. for $775.0 million. Moon Valley owns and operates retail and wholesale tree and plant nurseries and is based in Phoenix. Latham & Watkins served as legal advisor to Moon Valley.

Private Placements

10/5/2021 Progressive Services, Inc., dba Progressive Roofing, LLC, announced that it has received a round of funding from new investor Bow River Capital Partners. Progressive provides roofing, emergency and repair, maintenance, and design build services and is based in Phoenix.

10/14/2021 Regher Solar LLC announced that it has raised $6.0 million in a round of funding. Regher develops manufacturing technology for ultrathin high efficiency silicon solar cells and is based in Tempe.

10/19/2021 Arine, Inc. announced that it has received $11.0 million in a round of funding co-led by Katalyst Ventures LLC and new investor 111 West Capital with participation from new investor Magellan Health, Inc. (NasdaqGS:MGLN) and SCAN Health Plan, Inc. Magellan, together with its subsidiaries, provides healthcare management services in the United States and is based in Phoenix.

10/27/2021 Healthcare Arizona, LLC announced a private placement of common shares for gross proceeds of $70.0 million. The transaction will include participation from returning investor Healthcare Co., Ltd. Healthcare Arizona manufactures memory foam mattresses and is based in Goodyear.

10/28/2021 Persefoni AI Inc. announced that it has raised $101.0 million in its Series B round of funding from TPG Capital, Prelude Ventures, LLC, and other investors. Persefoni develops an artificial intelligence-based platform for carbon footprint accounting and management and is based in Mesa.

10/28/2021 Goldwater Bancorp, Inc. announced that it will receive $20.0 million in funding. As of 11/5/2021, the company has received $15.0 million in its first tranche from ten investors. Goldwater, through its subsidiary, offers commercial and personal banking services and is based in Phoenix. Silver, Freedman, Taff & Tiernan LLP served as legal advisor to Goldwater.