Arizona Deal Intelligence - April 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
4/1/2021 University HQ acquired Online MBA Review. The terms of the transaction were not disclosed. University HQ offers education services through online and on-campus schools and colleges and is based in Scottsdale.
4/1/2021 Valenz acquired Kozani Health LLC. The terms of the transaction were not disclosed. Kozani develops bill review sign-off and bill audit solutions to analyze pricing, coding, and care provided to ensure appropriate payment to reinsurers, health planners, and third-party administrators and is based in Mesa. Valenz develops payment integrity solutions for third party administrators, self-insured groups, labor and trust organizations, stop-loss carriers, and health plans and is based in Phoenix.
4/1/2021 GB Auto Service, Inc. acquired Goodguys Tires & Auto Repair. The terms of the transaction were not disclosed. GB Auto Service provides automotive aftermarket repair services under the BRAKEmax and Tire Works brands and is based in Tucson.
4/5/2021 Minico, Inc. acquired NIF Group, Inc. from JenCap Holdings, LLC. The terms of the transaction were not disclosed. Minico provides insurance for self-storage customers, as well as property and casualty specialty insurance for self-storage businesses and is based in Phoenix.
4/6/2021 The Joint Corp. (NasdaqCM:JYNT) acquired a portfolio of eight previously franchised clinics in the United States. The terms of the transaction were not disclosed. The Joint is a national operator, manager and franchisor of chiropractic clinics and is based in Scottsdale.
4/7/2021 MS Amlin Limited agreed to acquire International Transportation & Marine Inc. (ITMA). The terms of the transaction were not disclosed. ITMA is an insurance agency that provides marine and other specialty lines of insurance and is based in Scottsdale.
4/9/2021 OpenTech Alliance, Inc. agreed to acquire Adigma, LLC. The terms of the transaction were not disclosed. OpenTech provides self-storage solutions that connect storage owners with tenants in the U.S. and internationally and is based in Phoenix.
4/13/2021 Integrity Marketing Group, LLC acquired Polcyn Insurance and Financial Services. The terms of the transaction were not disclosed. Polcyn, also known as Family First Life America, operates an insurance agency and is based in Mesa.
4/13/2021 Go Car Wash Management, Corp. acquired three Riptide Auto Wash sites in Corpus Christi, Texas. The terms of the transaction were not disclosed. Go Car Wash offers car washing services operating in 41 locations in Kansas, Missouri, Nevada, and Texas and is based in Gilbert.
4/20/2021 Tucker Hill Air, Plumbing, & Electrical acquired Air McConnell, LLC. The terms of the transaction were not disclosed. Air McConnell provides installations, replacement, and repair services of air conditioners, heaters, and mini splits to residential and commercial users and is based in Gilbert. Tucker Hill provides home services that include residential and commercial electrical and plumbing services and is based in Tempe.
4/20/2021 Times Media Group agreed to acquire Tucson Local Media LLC. The terms of the transaction were not disclosed. Tucson Local Media publishes business news and magazines and is based in Tucson. Times Media Group is a digital and print media company that operates in the Phoenix and Tucson metro markets and is based in Tempe.
4/23/2021 Panasonic subsidiary Connected Solutions Company agreed to acquire the remaining 78.9% stake in Blue Yonder Group, Inc. for $7.1 billion. Blue Yonder, formerly known as JDA Software Inc., is an end-to-end, digital fulfillment platform provider based in Scottsdale.
4/26/2021 Paya Holdings Inc. (NasdaqCM:PAYA) acquired Paragon Solutions, Inc. The terms of the transaction were not disclosed. Paragon designs and develops payment processing solutions and is based in Scottsdale.
4/26/2021 AvAir, LLC acquired IBERIA LAE SA. The terms of the transaction were not disclosed. AvAir trades and supplies aircraft parts and components for the aviation aftermarket and is based in Chandler.
4/26/2021 SWCA, Incorporated, dba SWCA Environmental Consultants, acquired Sycamore Environmental Consultants, Inc. The terms of the transaction were not disclosed. SWCA offers environmental planning, regulatory compliance, and natural and cultural resources management services to public and private clients in the U.S. and is based in Phoenix.
4/28/2021 Responsive Data, LLC agreed to acquire MLMLeads.com, MyHomeBusiness.com and other assets of MLM Leads, LLC. The terms of the transaction were not disclosed. Responsive Data develops integrated lead generation and prospect management solutions for individuals and teams and is based in Mesa.
4/29/2021 Realty Income Corporation (NYSE:O) agreed to acquire VEREIT, Inc. (NYSE:VER) for $17.7 billion. VEREIT is a full-service real estate operating company which owns and manages one of the largest portfolios of single-tenant commercial properties in the U.S. and is based in Phoenix. Wachtell, Lipton, Rosen & Katz LLP is serving as legal advisor to VEREIT.
M&A - Financial
4/15/2021 Strength Capital acquired an unknown stake in The Truesdell Corporation from Peninsula Capital Partners, L.L.C. The terms of the transaction were not disclosed. Truesdell engages in repair, restoration, strengthening, protection, and maintenance of concrete structures and is based in Tempe.
Private Placements
4/15/2021 Persefoni AI Inc. announced that it has received $9.7 million in funding led by returning investor Rice Investment Group with participation from new investors Sallyport Investments, LLC and Energy Technology Partners, LLC. Persefoni develops an artificial intelligence-based platform for carbon footprint accounting and management and is based in Mesa.
4/16/2021 Cebu Air, Inc. (PSE:CEB) announced that it has raised $250.4 million from a private offering of convertible bonds with participation from International Finance Corporation and Indigo Partners LLC. Indigo is a private equity and venture capital firm and is based in Phoenix.
4/21/2021 SimonMed Imaging, Inc. announced that it has received a round of funding from new investor American Securities LLC. SimonMed provides outpatient medical imaging services and is based in Scottsdale. Perkins Coie LLP served as legal advisor to SimonMed.
4/21/2021 SmartRent.com, Inc. announced a private placement for $155.0 million from Blackstone Group Inc., Starwood Capital Group LLC, Lennar Corp., Invitation Homes Inc., and other investors. On 4/22/2021, SmartRent announced that it intends to go public through a merger with a special-purpose acquisition company, Fifth Wall Acquisition Corp. I (NasdaqCM:FWAA), that values the property-tech startup at $2.2 billion. SmartRent is an enterprise home automation company that develops software solutions for property owners, property managers, and renters in multifamily communities and is based in Scottsdale. DLA Piper LLP is serving as legal advisor to SmartRent.
4/26/2021 ManageWare, LLC announced that it has received a round of funding from private strategic investors. ManageWare offers software solutions for the workers compensation medical management industry and is based in Mesa.