Arizona Deal Intelligence - December 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

12/1/2021 BAMKO, LLC acquired the assets of Sutter's Mill Specialties, Inc. The terms of the transaction were not disclosed. Sutter's Mill manufactures and distributes promotional and advertising products for companies and is based in Tempe.

12/1/2021 MindPath Care Centers, PLLC acquired Metropolitan Neuro Behavioral Institute. The terms of the transaction were not disclosed. Metropolitan provides patient-centered psychiatric services and is based in Chandler.

12/1/2021 GPS Insight, LLC acquired GlideSys Technologies US, Inc. The terms of the transaction were not disclosed. GPS Insight provides GPS fleet tracking software and E-log solutions for businesses and government agencies with mobile assets and is based in Scottsdale.

12/1/2021 Troon Golf, LLC acquired Peter Burwash International, Inc. The terms of the transaction were not disclosed. Troon Golf operates as a golf and club management, development, and marketing company worldwide and is based in Scottsdale. Jennings, Strouss & Salmon, PLC served as legal advisor to Troon Golf.

12/2/2021 Netsmart Technologies, Inc. acquired Remarkable Health, LLC. The terms of the transaction were not disclosed. Remarkable Health is a provider of artificial intelligence technology and software solutions for organizations focused on behavioral health and individuals with intellectual and developmental disabilities and is based in Chandler. Goodwin Procter LLP served as legal advisor to Remarkable Health.

12/3/2021 Cornerstone Advisors of Arizona, LLC acquired Next Step, Inc. The terms of the transaction were not disclosed. Cornerstone provides consulting services for regional and community banks; start-up businesses; insurance companies; credit unions; and finance companies and is based in Scottsdale.

12/6/2021 WillScot Mobile Mini Holdings Corp. (NasdaqCM:WSC) acquired the rental assets of Hecht Trailers in New Jersey from Hecht Trailers L.L.C. On 12/14/2021, WillScot acquired McDonald Modular Solutions, Inc. The terms of the transactions were not disclosed. WillScot provides modular space and portable storage solutions in the United States, Canada, Mexico, and the United Kingdom and is based in Phoenix.

12/7/2021 Confluent Health, LLC acquired Foothills Therapy Partners. The terms of the transaction were not disclosed. Foothills Therapy owns and operates outpatient physical therapy clinics and is based in Phoenix. Polsinelli PC served as legal advisor to Foothills Therapy.

12/8/2021 Alerus Financial Corporation (NasdaqCM:ALRS) agreed to acquire MPB BHC, INC. (OTCPK:MPHX) for $85.4 million. MPB BHC is the holding company for Metro Phoenix Bank, Inc. that provides community banking products and services to small- to mid-sized businesses and real estate professionals and is based in Phoenix. Spierer, Woodward, Corbalis, & Goldberg served as legal advisor to MPB BHC.

12/8/2021 Centauri Health Solutions, Inc. acquired Secure Exchange Solutions, Inc. The terms of the transaction were not disclosed. Centauri is a healthcare technology and services company that designs and develops cloud-based software and comprehensive data management solutions for risk adjustment and quality-based revenue programs and is based in Scottsdale. Kirkland and Ellis served as legal advisor to Centauri.

12/8/2021 Southwest Convenience SPE LLC acquired Quik-Mart Stores, Inc. The terms of the transaction were not disclosed. Quik-Mart operates a 17-store chain of fuel and convenience stores and is based in Tucson.

12/13/2021 Honeywell International Inc. (NasdaqGS:HON) agreed to acquire US Digital Designs, Inc. The terms of the transaction were not disclosed. US Digital designs and develops station alerting and semiconductor robots for the public safety industry and is based in Tempe.

12/13/2021 Avent, Inc. agreed to acquire OrthogenRx, Inc. for $160.0 million. Avent manufactures health care products, such as surgical caps, gowns, foot covers and operation drapes, and is based in Tucson.

12/13/2021 Global Water Resources, Inc. (NasdaqGM:GWRS) agreed to acquire Farmers Water Co. The terms of the transaction were not disclosed. Global Water is a water resource management company that owns, operates, and manages regulated water, wastewater, and recycled water utilities and is based in Phoenix. Farmers serves potable water in four different locations in the Sahuarita and Green Valley areas and is based in Sahuarita.

12/13/2021 ZXP Technologies Ltd. acquired Maverick Performance Products LLC. The terms of the transaction were not disclosed. Maverick refines, manufactures, and packages lubricants, grease, and raw material components for finished lubricant blending and is based in Chandler.

12/13/2021 Footprint International Holdco Inc. has agreed to go public through a merger with Gores Holdings VIII, Inc. (NasdaqCM:GIIX), a SPAC led by billionaire Alec Gores, in a deal that values the combined entity at approximately $1.6 billion including debt. After the deal closes, Footprint will list on the Nasdaq under the ticker symbol FOOT. The deal will provide Footprint with approximately $805.0 million in gross proceeds, including $345.0 million from the SPAC's trust account. The proceeds also consist of an oversubscribed private investment of about $460.0 million, including $150.0 million anchored by Koch Strategic Platforms and other investors. Based in Gilbert, Footprint is a plant-based fiber-technology company that develops and manufactures packaging products that are biodegradable, compostable and recyclable.

12/13/2021 The Network Pro, Inc. agreed to acquire Nextrio, LLC. The terms of the transaction were not disclosed. Nextrio provides managed IT and infrastructure services to small and mid-size businesses and is based in Tucson. Mike Dudek Law is serving as legal advisor to Nextrio.

12/14/2021 Cobblestone Auto Spa acquired seven locations of Living Water Express Car Wash LLC. The terms of the transaction were not disclosed. Cobblestone offers express car wash and car detailing services and is based in Scottsdale.

12/14/2021 Kane Communications, LLC acquired Cable Solutions, LLC. The terms of the transaction were not disclosed. Cable Solutions designs and installs communications infrastructure systems for businesses and is based in Chandler.

12/15/2021 Raley's Family of Fine Stores, Inc. completed its acquisition of Bashas' Inc. and all of its related brands. The terms of the transaction were not disclosed. Bashas' operates grocery stores in Arizona and is based in Chandler. Snell & Wilmer served as legal advisor to Raley's.

12/15/2021 Ritz Safety, LLC acquired AGS Safety & Supply. The terms of the transaction were not disclosed. AGS distributes safety products and is based in Tempe.

12/15/2021 AdaptiSense, LLC acquired Biospherical Instruments Inc. The terms of the transaction were not disclosed. AdaptiSense engages in the development of engineered system solutions, remote sensing, data capture, energetics technologies and data analysis as well as procurement services for defense, security, and commercial market and is based in Tucson.

12/15/2021 Sun Auto Tire & Service Inc. announced that it has acquired T.O. Haas Tire & Auto, Bruce’s Tire & Auto Service and Delta World Tire. The terms of the transactions were not disclosed. The addition of these brands brings Sun Auto's holdings to more than 350 locations and an additional 9 states. Sun Auto provides automotive aftermarket repair services under the BRAKEmax and Tire Works brands and is based in Tucson.

12/16/2021 HUB International Limited acquired assets of JP Griffin Companies, LLC. The terms of the transaction were not disclosed. JP Griffin designs, implements, and manages multi-site and multi-state employee benefit programs and is based in Scottsdale.

12/16/2021 Circle K Stores Inc. acquired assets from Slidell Oil Company, LLC, including 17 convenience stores operating primarily under the Purple Cow banner and 23 wholesale fuels accounts. Tempe-based Circle K owns and operates convenience stores and gas stations and is a wholly owned subsidiary of Laval, Quebec-based Couche-Tard, which operates in 26 countries and territories, with approximately 14,200 stores.

12/16/2021 Alkeme Holdings, LLC acquired Exeter Financial, LLC. The terms of the transaction were not disclosed. Exeter is a wealth management firm based in Scottsdale.

12/17/2021 Arizona Natural Resources, Inc. (ANR) acquired HealthSpecialty, Inc. The terms of the transaction were not disclosed. ANR engages in the contract manufacturing of body and bath care, cosmetics, spa, skin, and hair care products. Norton Rose Fulbright LLP served as legal advisor to ANR.

12/20/2021 ExlService Holdings, Inc. (NasdaqGS:EXLS) acquired Clairvoyant, LLC. The terms of the transaction were not disclosed. Clairvoyant provides big data and analytics consulting services and is based in Chandler.

12/21/2021 Enphase Energy, Inc. (NasdaqGM:ENPH) acquired 365 Pronto, Inc. The terms of the transaction were not disclosed. 365 Pronto is a predictive software platform that matches cleantech asset owners to a local and on-demand workforce of service providers and is based in Scottsdale.

12/21/2021 Mister Car Wash, Inc. (NYSE:MCW) agreed to acquire Clean Streak Ventures, LLC for $390.0 million. Mister Car Wash operates over 360 car washes nationwide and is based in Tucson.

12/22/2021 Diversified Medical Healthcare acquired ConfirmD by BuddyCheque, LLC. The terms of the transaction were not disclosed. BuddyCheque develops and operates ConfirmD, a mobile health app that allows users to record, verify, and share their health data, including COVID-19 vaccination status and test results.

12/27/2021 Duncan Family Farms, LLC acquired Pedersen Farms. The terms of the transaction were not disclosed. Duncan produces and processes organic vegetables and is based in Goodyear.

12/29/2021 Cutter Holding Co., dba Cutter Aviation Phoenix, Inc., acquired AeroJet FBO. The terms of the transaction were not disclosed. Cutter provides aviation and fixed base operation services and is based in Phoenix.

12/31/2021 Holley Inc. (NYSE:HLLY) acquired assets of Baer Inc., Arizona Desert Shocks, Brothers Trucks, and Rocket Racing Wheels for approximately $56.0 million. Arizona Desert Shocks engages in the manufacturing of auto parts for off-road vehicles and is based in Tucson. Baer manufactures and markets auto parts and components and is based in Phoenix.

12/31/2021 Discount Tire agreed to acquire Tire Rack, Inc. The terms of the transaction were not disclosed. Discount Tire operates as an independent retailer of tires and wheels with 1,100 stores in 37 states and is based in Scottsdale.

M&A - Financial

12/1/2021 Reverence Capital Partners LLC acquired Temporary Housing, Inc., dba CRS Temporary Housing. The terms of the transaction were not disclosed. CRS offers temporary housing services, long term housing, emergency hotel, adjuster relocation, and commercial office rental services to property loss-of-use claimers and is based in Phoenix. Morrison Cohen LLP served as legal advisor to CRS.

12/6/2021 Najafi Companies agreed to acquire STX Financing, LLC for $173.0 million. Najafi is a private equity firm based in Phoenix. Ballard Spahr LLP is serving as legal advisor to Najafi.

12/6/2021 Knight-Swift Transportation Holdings Inc. (NYSE:KNX) acquired RAC MME Holdings, LLC for $150.0 million. Knight-Swift and its subsidiaries provide truckload transportation services in the United States, Mexico, and Canada and is based in Phoenix. Scudder Law Firm, P.C., L.L.O. served as legal advisor to Knight-Swift Transportation.

12/10/2021 Cortec Group, in partnership with CEO Ken Goodrich and his management team, completed the growth recapitalization of Goettl Home Services, LLC. The terms of the transaction were not disclosed. Goettl Home Services provides repair, installation, and replacement services for air conditioning and heating systems in commercial and residential markets and is based in Tempe.

12/15/2021 FFL Partners, LLC and Two Sigma Impact acquired majority stake in Community Medical Services Holdings, LLC. The terms of the transaction were not disclosed. Community Medical offers medication assisted treatment programs for patients suffering from substance use disorders and is based in Scottsdale. Alston & Bird LLP served as legal advisor to Community Medical.

12/20/2021 Audax Management Company, LLC acquired majority stake in Integrate.com, Inc. The terms of the transaction were not disclosed. Integrate.com designs and develops an orchestration platform for marketers and is based in Phoenix. Goodwin Procter LLP served as legal advisor to Integrate.com.

12/21/2021 Advent International Corporation acquired majority stake in Encora Digital Inc. for $1.5 billion. Encora is a product engineering services company that provides product life cycle solutions and is based in Scottsdale. Wilson Sonsini Goodrich & Rosati LLP served as legal advisor to Encora.

12/22/2021 Vance Street Capital acquired Plastic Design Corporation (PDC). The terms of the transaction were not disclosed. PDC provides plastic injection and micro-molding services and is based in Scottsdale. Brown Moskowitz & Kallen, P.C. served as legal advisor to PDC.

Private Placements

12/6/2021 Grasp Technologies Inc. announced that it has received a round of funding from new investor Waverock Software. The terms of the transaction were not disclosed. Waverock designs and develops enterprise software and is based in Scottsdale.

12/10/2021 Gray Matters, Inc. announced a private placement for gross proceeds of $10.0 million led by Jamie Benoit and Chip Dipaula with participation from existing investors, company executives, members of the company's board of directors, and several limited partners of Marlinspike Capital. Gray Matters develops blockchain and encryption algorithm technology solutions and is based in Tucson.

12/16/2021 Hammoq Inc. announced that it will receive $6.0 million in funding. As of 12/30/2021, the company received $5.8 million in its first tranche from 4 investors. Hammoq develops a cross listing software that allows users to sell items and products across multiple marketplaces with a simplified listing and is based in Phoenix.

12/16/2021 PolyCharge America, Inc. announced that it will receive $8.5 million in funding from one investor. PolyCharge develops and manufactures capacitors for electrical applications and is based in Tucson.

12/17/2021 Dedrone GmbH announced that it has received $30.5 million in its Series C round of funding from Axon Enterprise, Inc. and other investors. Axon develops, manufactures, and sells conducted energy weapons under the TASER brand in the United States and internationally and is headquartered in Scottsdale.

12/20/2021 Reich & Tang Deposit Networks, LLC announced that it will receive a strategic investment from Estancia Capital Management. Estancia is a private equity firm based in Scottsdale. Seward & Kissel LLP is serving as legal advisor to Estancia.

12/20/2021 Equality Health, LLC announced that it has raised funding from new investor Finback Investment Partners LLC. Equality develops a population health risk management technology and services platform for managed care plans and health systems and is based in Phoenix.

12/22/2021 Privoro, LLC announced that it has received $30.0 million in its Series B round of funding led by an affiliate of Tracker Capital Management, LLC. Privoro is a technology company that enables smartphone users to elevate their security posture by limiting the data available to hackers and spies and is based in Chandler.

12/22/2021 Paradox, Inc. announced that it will receive $250.0 million in funding. As of 12/27/2021, the company has raised $200.0 in its first tranche co-led by new investors Stripes Group LLC, Sapphire Ventures, LLC, and Thoma Bravo, L.P. Paradox develops a conversational artificial intelligence-based platform that enables human resources and talent teams to automate administrative tasks and is based in Scottsdale. DLA Piper LLP (US) served as legal advisor to Paradox.