Arizona Deal Intelligence - February 2022

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

2/2/2022 Foam Fabricators, Inc. acquired Foam Concepts, Inc. The terms of the transaction were not disclosed. Foam Fabricators operates a network of molding and fabricating plants that provide shape molded and fabricated foam products, packaging, and components to various industries and is based in Scottsdale.

2/2/2022 EnviroServe Inc. acquired the business and assets of Chemical Transportation, Inc. The terms of the transaction were not disclosed. Chemical Transportation is a specialized waste transportation and environmental services company with operations in Arizona, New Mexico and Texas and is based in Rillito.

2/3/2022 Wheels Up Experience Inc. (NYSE:UP) acquired Alante Air Charter, LLC. The terms of the transaction were not disclosed. Alante is a private jet charter company based in Scottsdale.

2/4/2022 The employees of Automation Specialists, Inc. acquired Automation Specialists, Inc. The terms of the transaction were not disclosed. Automation Specialists provides security, networking, home theater, whole-home audio, and CCTV systems for both commercial and residential customers and is based in Tucson.

2/4/2022 Triton Utilities, Inc. acquired Michigan-American Water Company from American Water Works Company, Inc. (NYSE:AWK) for $6.0 million. Triton owns and operates water and wastewater utilities and is based in Glendale. Pillsbury Winthrop Shaw Pittman LLP served as legal advisor to Triton Utilities.

2/7/2022 Foundation Wellness acquired Doctor Hoy's Natural Pain Relief. The terms of the transaction were not disclosed. Doctor Hoy's engages in the manufacturing and distribution of natural pain-relieving products and is based in Apache Junction.

2/9/2022 Republic Services, Inc. (NYSE:RSG) and US Ecology, Inc. (NasdaqGS:ECOL) have entered into a definitive agreement under which Republic Services will acquire all outstanding shares of US Ecology for $48 per share in cash, representing a total value of approximately $2.2 billion including net debt of approximately $0.7 billion. Republic Services, together with its subsidiaries, offers collection and processing of recyclable materials, collection, transfer and disposal of non-hazardous solid waste, and other environmental solutions and is based in Phoenix. Davis Polk & Wardwell LLP is serving as legal advisor to Republic Services.

2/9/2022 The Descartes Systems Group Inc. (TSX:DSG) acquired NetCHB for $100.0 million. NetCHB develops an application software for data processing operations of customs brokers and is based in Tucson.

2/10/2022 Super Home Inc. acquired Platinum Home Protection. The terms of the transaction were not disclosed. Platinum is a home warranty company based in Scottsdale.

2/15/2022 We Insure Things acquired Mirage Insurance LLC. The terms of the transaction were not disclosed. Mirage operates as an insurance agency that offers insurance products in the areas of auto, homeowners, renters, life, health, and commercial insurance and is based in Mesa.

2/16/2022 Mecanica Scientific Services Corporation acquired Collision Engineering Associates, Inc. The terms of the transaction were not disclosed. Collision Engineering provides accident reconstruction and crash documentation for vehicles and is based in Mesa.

2/16/2022 Notre Dame Federal Credit Union acquired Mission Management & Trust Co. The terms of the transaction were not disclosed. Mission is an independent trust company that provides trust and estate services, asset management, and securities custody and is based in Tucson.

2/17/2022 CompuGroup Medical, Inc. acquired Small Business Computer of New England, Inc., dba AP Easy Software Solutions. The terms of the transaction were not disclosed. CompuGroup provides software and communications solutions that assist healthcare service providers with workflow, diagnosis, and therapy worldwide and is based in Phoenix.

2/18/2022 BrightView Holdings, Inc. (NYSE:BV) acquired NatureScape Landscaping, LLC. The terms of the transaction were not disclosed. NatureScape provides landscape maintenance and development services and is based in Phoenix.

2/21/2022 ACV Auctions Inc. (NasdaqGS:ACVA) acquired Drivably, Inc. The terms of the transaction were not disclosed. Drivably designs and develops inventory management software for the automotive retail industry and is based in Chandler.

2/21/2022 Young Innovations, Inc. acquired Medical Purchasing Solutions, LLC. The terms of the transaction were not disclosed. Medical Purchasing Solutions supplies pharmaceuticals and other surgical supplies to the oral pain management, oral surgery, and dental implant markets and is based in Scottsdale. Dentons served as legal advisor to Young Innovations.

2/21/2022 Panbela Therapeutics, Inc. (NasdaqCM:PBLA) agreed to acquire Cancer Prevention Pharmaceuticals, Inc. (CPP). The terms of the transaction were not disclosed. CPP develops and markets therapeutic agents for the treatment and prevention of certain pre-cancerous conditions, orphan diseases, and gastrointestinal conditions and is based in Tucson. Blank Rome LLP is serving as legal advisor to CPP.

2/22/2022 Virtuous Software, Inc. acquired Volunteer Mobilization, Inc. (VOMO). The terms of the transaction were not disclosed. Virtuous develops a SaaS non-profit CRM and marketing platform that enables non-profit organizations and charitable institutions to raise money and is based in Phoenix.

2/24/2022 Patrick Industries, Inc. (NasdaqGS:PATK) agreed to acquire Rockford Corporation (OTCPK:ROFO). The transaction closed on 3/7/2022. The terms of the transaction were not disclosed. Rockford manufactures, markets, and distributes audio and security systems for the mobile audio aftermarket and OEM market and is based in Tempe.

2/24/2022 Carvana Group, LLC agreed to acquire the U.S. physical auction business of ADESA, Inc. for an enterprise value of approximately $2.2 billion. Carvana owns and operates an e-commerce platform for buying used cars and is based in Phoenix. Kirkland & Ellis LLP is serving as legal advisor to Carvana.

2/24/2022 University HQ acquired Discover Accounting. The terms of the transaction were not disclosed. University HQ is an educational institution that offers education services through online and on-campus schools and colleges and is based in Scottsdale.

2/28/2022 Healthcare Trust of America, Inc. (NYSE:HTA) executed a definitive agreement to acquire Healthcare Realty Trust Incorporated (NYSE:HR) for $4.7 billion. HTA is the largest dedicated owner and operator of medical office buildings in the U.S. and is based in Scottsdale. McDermott Will & Emery LLP is serving as legal advisor to HTA.

2/28/2022 Troon Golf, LLC acquired the assets of Creative Events, Inc., a special event organization that annually holds promotional golf events at Pebble Beach Resort. The terms of the transaction were not disclosed. Troon 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.

2/28/2022 Earnhardt Auto Group sold their Buick-GMC and Mazda dealerships in Las Vegas to Seiner Automotive Group out of Salt Lake City. The terms of the transaction were not disclosed. Earnhardt operates car dealerships in the U.S. and is based in Chandler. Jennings, Strouss & Salmon, PLC served as legal advisor to Earnhardt.

M&A - Financial

2/21/2022 Trinity Capital Inc. (NasdaqGS:TRIN) and RLG Capital, LLC acquired an 80% stake in Kamaka Air, Inc. Trinity is a venture capital firm based in Phoenix. Jasso Lopez PLLC served as legal advisor to Trinity and RLG.

Private Placements

2/7/2022 Design Pickle, LLC announced that it has raised $25.0 million in a round of funding from new investor Colorado River Partners LLC. Design Pickle operates as a graphic design company and is based in Scottsdale.

2/9/2022 Quantum Art, Inc. announced that it has received $7.5 million in a round of funding from True Venture Management, LLC and other investors. Quantum operates as a fine art company based in Scottsdale.

2/10/2022 Vesta SAS announced that it has received $23.0 million in a round of funding from Sequoia Capital, Kima Ventures SAS, Opendoor Technologies Inc. (NasdaqGS:OPEN), and other investors. Opendoor operates a digital platform for residential real estate and is based in Tempe.

2/15/2022 iMemories Inc. announced that it has received a round of funding from Landon Capital Partners, LLC and Greens Farms Capital LLC. The terms of the transaction were not disclosed. iMemories provides a cloud-based storage and streaming service that enables users to store, manage, and share their family memories, such as videos and photos, and is based in Scottsdale. Osborn Maledon, P.A. served as legal advisor to iMemories.

2/15/2022 Concord Servicing Corporation announced that it has received a round of funding from new investor Inverness Graham Investments, Inc. and founding owners. The terms of the transaction were not disclosed. Concord is a loan servicing company serving originators, lenders, capital market participants, and asset investors and is based in Scottsdale.

2/15/2022 PaleoWest announced that it has received funding from new investor The Riverside Company. The terms of the transaction were not disclosed. PaleoWest offers cultural resource consulting services for archaeological and historic properties and is based in Phoenix. Jones Day served as legal advisor to Riverside.

2/15/2022 Erthos Inc. announced that it will receive $15.5 million in its Series B round of funding from Capricorn Investment Group's Technology Impact Fund. Erthos amended the terms of the transaction and raised a total of $17.5 million with $4.0 million in its second and final tranche closing. Erthos is a Tempe-based solar company with a mission to transform the utility-scale solar industry.

2/16/2022 Imagine Technology Group, LLC announced that it has received funding from Candescent Partners, LLC, Eagle Private Capital, LLC, and other investors. Imagine is a managed technology services provider based in Chandler.

2/17/2022 Axis Portable Air LLC announced that it has raised a round of funding that included participation from new investor Tailwind Capital Group, LLC. Axis rents and sells portable air conditioning and heating equipment and is based in Chandler.

2/21/2022 Espire Sports and Espire AZ announced that it has consummated a capital raise and land acquisition in Prescott for the purposes of developing an indoor sports facility. Scottsdale-based Inca Capital provided financing in the transaction. Jennings, Strouss & Salmon, PLC served as legal advisor to the Espire companies.

2/22/2022 Tagboard, Inc. announced that it has received $8.0 million in a round of funding co-led by Grayhawk Capital, LLC and Next Frontier Capital with participation from Sinclair Broadcast Group, Inc. and Wise Ventures. Grayhawk is a venture capital firm based in Scottsdale.

2/22/2022 Pueblo Mechanical & Controls, LLC announced that it has received a round of funding from BlackRock Capital Investment Corporation (NasdaqGS:BKCC) and Deerpath Capital Management, LP. Pueblo provides HVAC and installation services for school districts, governmental agencies, municipalities, and private firms and is based in Tucson.