Arizona Deal Intelligence - March 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

3/7/2022 Limelight Networks, Inc. (NasdaqGS:LLNW) agreed to acquire EdgeCast, Inc. for $319.0 million. Limelight provides content delivery network and related services and is based in Tempe. Goodwin Procter LLP is serving as legal advisor to Limelight.

3/7/2022 AHEAD, LLC acquired vCORE Technology Partners, LLC. The terms of the transaction were not disclosed. vCORE is an IT solutions company that offers data protection, converged/hyperconverged infrastructure, cloud, enterprise networking, security, and managed services and is based in Scottsdale.

3/9/2022 AudioEye, Inc. (NasdaqCM:AEYE) acquired Accessibility Now, Inc. for $11.0 million. AudioEye provides patented internet content publication, distribution software, and related services and is based in Tucson. Faegre Drinker Biddle & Reath LLP served as legal advisor to AudioEye.

3/10/2022 Arizona Federal Credit Union has agreed to acquire Horizon Bancorp, Inc. (Lake Havasu City, AZ) (OTCPK:HRRB) for $91.4 million. Horizon operates as a bank holding company for Horizon Community Bank that provides banking services to commercial and consumer customers and is based in Lake Havasu City. Arizona Federal is a credit union and mutuals company and is based in Phoenix. Honigman LLP is serving as legal advisor to Arizona Federal. Fenimore Kay Harrison LLP is serving as legal advisor to Horizon.

3/14/2022 BQ Concepts LLC agreed to acquire substantially all assets of Barrio Culinary Concepts, LLC, dba Barrio Queen Tequilera and Silvana Bistro, for $28.1 million. Barrio Queen owns and operates restaurants and is based in Scottsdale. Monroe Moxness Berg PA is serving as legal advisor to Barrio.

3/14/2022 Stellar Industrial Supply, Inc. agreed to acquire Timesaver Industrial Inc. The terms of the transaction were not disclosed. Timesaver distributes MRO, metalworking, and safety products to industries and is based in Phoenix.

3/15/2022 Waste Harmonics, LLC acquired Meridian Alliance Partners. Meridian Alliance provides recycling and solid waste management services for commercial companies and is based in Scottsdale.

3/15/2022 cloudIT, LLC acquired AllPro Technologies LLC. The terms of the transaction were not disclosed. cloudIT offers IT solutions to improve business processes and application delivery for small, medium, and enterprise level organizations and is based in Phoenix.

3/15/2022 Dogs 24/7 LLC acquired Zoomies Inc. Dogs 24/7 provides cage-free dog boarding and daycare with six locations in two states and is based in Chandler.

3/16/2022 GrubMarket, Inc. acquired SunFed. The terms of the transaction were not disclosed. SunFed is a tech-driven fresh produce company based in Nogales.

3/16/2022 Ardurra Group, Inc. acquired Woodson Engineering and Surveying, Inc. The terms of the transaction were not disclosed. Woodson provides surveying, planning and civil engineering design services and is based in Flagstaff.

3/16/2022 Align Risk Solutions, LLC acquired Montera Captive Insurance Management. The terms of the transaction were not disclosed. Montera provides captive insurance management services and is based in Gilbert.

3/21/2022 WillScot Mobile Mini Holdings Corp. (NasdaqCM:WSC) acquired the Portfolio of Blast Resistant Modules and Related Assets from Satellite Structures, Inc. WillScot provides work space and portable storage solutions and is based in Phoenix.

3/21/2022 GoDaddy Inc. (NYSE:GDDY) acquired Content and Related Assets of DNAcademy. The terms of the transaction were not disclosed. GoDaddy engages in the design and development of cloud-based technology products and is based in Tempe.

3/22/2022 Publisher First, Inc. acquired the Ad Management Business of MPW Digital. The terms of the transaction were not disclosed. Publisher First provides website monetization for publishers and e-commerce site operators and is based in Phoenix.

3/22/2022 SmartRent, Inc. (NYSE:SMRT) agreed to acquire SightPlan, Inc. for $135.0 million. SmartRent is an enterprise software company that provides an integrated smart home operating system to residential property owners and operators, homebuilders, institutional home buyers, developers, and residents and is based in Scottsdale.

3/24/2022 Viad Corp (NYSE:VVI) agreed to acquire Glacier Raft Company. The terms of the transaction were not disclosed. Viad operates as an experiential leisure travel and live events and marketing services company and is based in Scottsdale.

3/28/2022 Avolve Software Corporation agreed to acquire DigEplan from Lifecycle Technology Limited. The terms of the transaction were not disclosed. Avolve develops, markets, and sells project information management and collaboration solutions to government and commercial customers and is based in Scottsdale.

3/29/2022 Martori Bros. Distributors acquired Santa Rosa Produce LLC. The terms of the transaction were not disclosed. Santa Rosa produces and distributes melons and is based in Maricopa. Based in Scottsdale, Martori produces and distributes melons and is the largest melon farming company in the country.

3/31/2022 Restoration Builders, Inc. acquired abcSAGE, Inc. The terms of the transaction were not disclosed. Restoration operates as a residential and commercial contractor and is based in Phoenix.

M&A - Financial

3/30/2022 Bardin Hill Investment Partners LP and MBIA Insurance Corporation agreed to acquire nearly all assets of MD Helicopters, Inc. The terms of the transaction were not disclosed. MD manufactures and distributes helicopters and provides other support services and is based in Mesa.

Private Placements

3/1/2022 Lush, Inc. announced that it has received equity funding from new investor Circle K Venture Fund managed by Circle K Stores Inc. The terms of the transaction were not disclosed. Circle K owns and operates convenience stores and gas stations and is based in Tempe.

3/15/2022 AllSeated, Inc. announced that it has received $15.0 million in a round of funding from Trinity Capital Inc. (NasdaqGS:TRIN), Vestech Partners LLC, NYFF, Magma Venture Partners, and WGG. Trinity is a venture capital firm specializing in venture debt and is based in Phoenix.

3/17/2022 HTG Molecular Diagnostics, Inc. (NasdaqCM:HTGM) announced that it has received $7.5 million from a leading healthcare investor. HTG is a life sciences company that offers instruments, consumables comprising assay kits, and software that automates sample processing and profiles various molecular targets and is based in Tucson. Cooley LLP served as legal advisor to HTG.

3/22/2022 Wealth Financial Technologies, Inc. announced that it has raised $16.0 million in a round of funding led by new investor Anthos Capital, L.P. with participation from new investor Bela Juju Ventures. Wealth Financial designs and develops a digital estate planning platform that provides a holistic view of all assets visualized and securely stored in one place and is based in Gilbert.

3/23/2022 Elevation Home Energy Solutions, Inc. received $21.0 million in a transaction led by new investor Bernhard Capital Partners Management LP and another investor. Elevation provides residential solar, storage, energy efficiency, and energy intelligence technology solutions and is based in Chandler.

3/24/2022 Reach Digital Inc. announced that it has received $7.0 million in a round of funding from Grayhawk Capital, LLC, Pritzker Group Venture Capital, and NFX Capital Management, LLC. Grayhawk is a venture capital and SBIC investing firm based in Scottsdale.

3/25/2022 DigniFi Holding, Inc. announced that it has received $15.0 million in funding from 4 investors. DigniFi provides consumer finance for automotive repairs and is based in Mesa.

3/30/2022 Professional Health Care Network announced that it has received a round of funding from new investor Vistria Group, LLC. Professional Health is a post-acute management services company that provides home health management services and is based in Phoenix.