Arizona Deal Intelligence - November 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

11/1/2021 DuPont de Nemours, Inc. (NYSE:DD) agreed to acquire Rogers Corporation (NYSE:ROG) for $5.3 billion. Rogers designs, develops, manufactures, and sells engineered materials and components worldwide and is based in Chandler. Covington & Burling LLP and Hinckley, Allen & Snyder LLP are serving as legal advisors to Rogers.

11/1/2021 VM Consolidated, Inc., a subsidiary of Verra Mobility (NASDAQ:VRRM), agreed to acquire T2 Systems, Inc. for $356.0 million. The transaction closed on 12/7/2021. Verra provides smart mobility technology solutions and services and is based in Mesa. DLA Piper LLP (US) served as legal advisor to Verra.

11/1/2021 Fender Musical Instruments Corporation agreed to acquire PreSonus Audio Electronics, Inc. The terms of the transaction were not disclosed. Fender manufactures, distributes, and markets various musical instruments and is based in Scottsdale. Gibson, Dunn & Crutcher LLP is serving as legal advisor to Fender.

11/2/2021 K2 Insurance Services, LLC acquired the Specialty Residential Property Business of American Reliable Insurance Company. American Reliable markets and wholesales insurance products and is based in Scottsdale.

11/3/2021 Opendoor Technologies Inc. (NasdaqGS:OPEN) acquired RedDoor HQ Inc. for $12.5 million. Opendoor operates a digital platform for residential real estate and is based in Tempe.

11/3/2021 Allterra Central, Inc. and California Surveying & Drafting Supply Inc. agreed to acquire Allen Instruments & Supplies LLC from Empire Technology Holdings, LLC. The terms of the transaction were not disclosed. Allen Instruments supplies measurement products and positioning solutions in the fields of surveying, engineering, mining, construction, fleet management, and geographic information systems and is based in Scottsdale. Empire offers full productivity solution sets for heavy civil, geospatial, data modeling and analysis, and vertical construction clients and is based in Scottsdale.

11/3/2021 Oldcastle APG, Inc. acquired Pebble Technology, Inc. The terms of the transaction were not disclosed Pebble designs and develops pool finishes and outdoor environments for pool construction, pools remodels and renovations, and commercial pool and spa projects and is based in Scottsdale.

11/5/2021 Western Pump, Inc. acquired Doehrman Company, Inc. The terms of the transaction were not disclosed. Doehrman provides vehicle maintenance equipment and services and is based in Phoenix. The acquisition included DCI/Southwest Direct-Lift & Garage Outfitters, a division of Doehrman that supplies custom-designed workstations, toolboxes, mezzanines, shelving systems and more for residential garages.

11/8/2021 Strategic Risk Solutions Inc. (SRS) acquired Global Re Segregated Cell Company. The terms of the transaction were not disclosed. SRS provides management and consulting services to the captive insurance industry and is based in Scottsdale.

11/8/2021 Valeo Networks Inc., dba SaalexIT, acquired On Time Tech. The terms of the transaction were not disclosed. Valeo provides IT services in the areas of managed IT, cybersecurity, and cloud solutions and is based in Scottsdale.

11/8/2021 Sun Auto Tire & Service Inc. acquired Martin Tire Company. The terms of the transaction were not disclosed. Sun Auto provides automotive aftermarket repair services under the BRAKEmax and Tire Works brands and is based in Tucson.

11/10/2021 The Hershey Company (NYSE:HSY) agreed to acquire Dot's Pretzels, LLC. In a related transaction, The Hershey Company agreed to acquire Pretzels Inc. The total purchase price for these two proposed acquisitions is approximately $1.2 billion. Dot's produces and manufactures gourmet seasoned pretzels and snacks and is based in Goodyear.

11/10/2021 Connexus Resource Group acquired J-Curve Technologies, LLC. The terms of the transaction were not disclosed. J-Curve provides customer care, technical support, and provisioning support to UCaaS, education, healthcare, streaming media, and technology customers and is based in Tempe.

11/11/2021 GoDaddy Inc. (NYSE:GDDY) agreed to acquire Pagely, Inc. The terms of the transaction were not disclosed. Pagely provides a managed WordPress hosting service and is based in Chandler. GoDaddy engages in the design and development of cloud-based technology products and is based in Scottsdale.

11/11/2021 Therma Holdings LLC acquired Bel-Aire Mechanical, Inc. The terms of the transaction were not disclosed. Bel-Aire operates as a mechanical contractor and is based in Phoenix.

11/16/2021 RESA Power, LLC acquired Priority 1 Power Services, LLC. The terms of the transaction were not disclosed. Priority 1 provides electrical testing services and is based in Chandler.

11/17/2021 Mister Car Wash, Inc. (NYSE:MCW) acquired Daddy O's Car Wash. The terms of the transaction were not disclosed. Mister provides conveyorized car wash services in the United States and is based in Tucson.

11/18/2021 Synergos Companies agreed to acquire Brewer Companies, which includes Brewer Enterprises, Ben Franklin Plumbing AZ and Brewer Commercial Services. The terms of the transaction were not disclosed. Brewer provides residential, commercial, and new construction plumbing services and is based in Phoenix. Synergos provides residential construction solutions and is based in Scottsdale.

11/22/2021 The Vitec Group plc (LSE:VTC) acquired Savage Universal Corporation for $53.8 million. Savage manufactures and sells board and paper products to photographic, picture framing, and art supply/craft industries and is based in Chandler.

11/22/2021 WillScot Mobile Mini Holdings Corp. (NasdaqCM:WSC) acquired the Assets of Portable Storage Corporation in Los Angeles. The terms of the transaction were not disclosed. WillScot provides modular space and portable storage solutions and is based in Phoenix.

11/22/2021 Snow Cosmetics LLC acquired Klēn Products. The terms of the transaction were not disclosed. Klēn produces teeth whitening kits and other products and is based in Tempe. Snow produces teeth whitening kits and is based in Phoenix

11/23/2021 Benefit Commerce Group LLC acquired Schwartz Insurance Agency. The terms of the transaction were not disclosed. Schwartz provides commercial insurance services and is based in Scottsdale. Benefit Commerce provides employee benefit plans and is based in Scottsdale.

11/25/2021 Sun Auto Tire & Service Inc. agreed to acquire Plaza Tire Service Inc. The terms of the transaction were not disclosed. Sun Auto provides automotive aftermarket repair services under the BRAKEmax and Tire Works brands and is based in Tucson.

11/30/2021 Koch Engineered Solutions, LLC acquired DEPCOM Power, Inc. The terms of the transaction were not disclosed. DEPCOM provides engineering, procurement, and construction services for solar power plants and is based in Scottsdale. Greenberg Traurig LLP served as legal advisor to DEPCOM.

M&A - Financial

11/2/2021 Landon Capital Partners, LLC and Nova Capital Management Limited acquired Walbro Engine Management, LLC. The terms of the transaction were not disclosed. Walbro manufactures engine management systems and is based in Tucson.

11/8/2021 The Vistria Group, LP acquired BioCare, Inc. The terms of the transaction were not disclosed. BioCare distributes specialty pharmaceuticals that treat hemophilia, immune system deficiency, and ALS diseases and is based in Tempe.

11/9/2021 TZP Group acquired Re-Bath, LLC. The terms of the transaction were not disclosed. Re-Bath engages in manufacturing and remodeling bathtubs, shower liners, wall surrounds, and accessories and is based in Phoenix. Honigman LLP served as legal advisor to Re-Bath.

11/15/2021 TSG Consumer Partners, LP agreed to acquire an unknown majority stake in SS Enterprise Holdings LLC, dba Super Star Car Wash. The terms of the transaction were not disclosed. Super Star offers car washing and detailing services and is based in Phoenix. Snell & Wilmer is serving as legal advisor to Super Star.

11/19/2021 Trinity Capital Inc. (NasdaqGS:TRIN) and Structure Banca de Inversión agreed to acquire 82.42% stake in Acerías Paz del Río S. A. (BVC:PAZRIO). The terms of the transaction were not disclosed. Trinity is a venture capital firm based in Phoenix.

Private Placements

11/10/2021 Instrumental Labs, Inc. announced that it has received $8.5 million in a round of funding from Lightspeed Venture, LLC, Social Leverage Group, and other investors. Social Leverage Group is a principal investment firm based in Scottsdale.

11/10/2021 Hash Kitchen announced that it has raised $20.0 million in an equity round of funding from new investor Savory, a fund managed by Mercato Partners. Hash owns and operates restaurants and is based in Scottsdale.

11/15/2021 Troon Golf, LLC announced that it will receive funding from new investors TPG Capital, L.P. and Symphony Ventures. Troon operates as a golf and club management, development, and marketing company worldwide and is based in Scottsdale. Latham & Watkins LLP is serving as legal advisor to Troon.

11/18/2021 Stoa USA, Inc. announced that it has raised $36.0 million in a round of funding from Zeev Ventures, LLC. Stoa designs and develops a platform for real estate investors and is based in Scottsdale.

11/18/2021 Medicom Technologies, Inc. announced that it has raised $21.8 million in funding from Oval Park Capital, Grayhawk Capital, and other investors. Grayhawk is a venture capital and SBIC investing firm based in Scottsdale.

11/22/2021 StateServ Medical, LLC announced that it has received a round of funding from new investor WindRose Health Investors, LLC. StateServ provides durable medical equipment management services to hospices and is based in Mesa. Greenberg Traurig, LLP served as legal advisor to StateServ.

11/22/2021 TPI Composites, Inc. (NasdaqGM:TPIC) announced that it has entered into a Series A preferred stock purchase agreement for gross proceeds of $350.0 million with investment funds managed by Oaktree Capital Management. TPI manufactures and sells composite wind blades and related precision molding and assembly systems to original equipment manufacturers and is based in Scottsdale. Goodwin Procter LLP served as legal advisor to TPI.

11/23/2021 Sion Power Corporation announced that it raised $240.4 million in funding from 5 investors. On 11/30/2021, Cummins Inc. (NYSE:CMI) announced that it acquired an unknown minority stake in Sion and entered into an agreement with Sion to design and supply battery cells based on Sion’s proprietary Licerion® Electric Vehicle (EV) lithium metal technology for commercial electric vehicle applications. Tucson-based Sion develops, manufactures, and sells rechargeable batteries for the electric mobility, aerospace, and un-crewed vehicles markets.

11/30/2021 Lessen Inc. announced that it has raised $170.0 million in a round of funding from Fifth Wall Ventures Management, LLC and other investors. Lessen develops a web-based platform for real estate and property services management and is based in Scottsdale.