Arizona Deal Intelligence - May 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

5/2/2022 Emergency Care Partners, LLC acquired Arizona Emergency Medicine Specialists, P.C. (AEMS). The terms of the transaction were not disclosed. AEMS provides emergency medicine and outsourced emergency department management services and is based in Lake Havasu City. Polsinelli PC served as legal advisor to AEMS.

5/3/2022 Universal Technical Institute, Inc. (NYSE:UTI) agreed to acquire Concorde Career Colleges, Inc. for $50.0 million. UTI provides transportation and technical training programs in the U.S. and is based in Phoenix. DLA Piper LLP (US) is serving as legal advisor to UTI.

5/5/2022 Prime Therapeutics LLC agreed to acquire Magellan Health, Inc.'s pharmacy business, Magellan Rx Management, for approximately $1.4 billion. Magellan Health, together with its subsidiaries, provides healthcare management services in the U.S. and is based in Phoenix.

5/9/2022 WillScot Mobile Mini Holdings Corp. (NasdaqCM:WSC) acquired the Rental Fleet and Related Assets of Georgia Storage Containers, Inc. The terms of the transaction were not disclosed. WillScot provides workspace and portable storage solutions in the U.S., Canada, Mexico, and the United Kingdom and is based in Phoenix.

5/9/2022 Iconex LLC acquired Liberty Greenleaf. The terms of the transaction were not disclosed. Liberty manufactures point-of-sale and industrial packaging paper and is based in Phoenix.

5/10/2022 Inszone Insurance Services, Inc. acquired Trucking Insurance & Accounting, Inc. The terms of the transaction were not disclosed. Trucking offers insurance and accounting services to the trucking industry and is based in Phoenix.

5/10/2022 Creative Brands acquired Pomchies, LLC. The terms of the transaction were not disclosed. Pomchies engages in manufacturing hair and accessory products and is based in Phoenix. Creative manufactures, distributes, and imports gifts, inspirational products, and drinkware and is based in Phoenix.

5/10/2022 AVANT Communications, Inc. acquired PlanetOne Communications, Inc. The terms of the transaction were not disclosed. PlanetOne identifies and delivers cloud-based connectivity solutions to small and midsize businesses and enterprises and is based in Scottsdale.

5/10/2022 Alliance Ground International, LLC agreed to acquire Total Airport Services, LLC. The terms of the transaction were not disclosed. Total Airport provides aviation services to airline carriers and airports in North America and is based in Phoenix.

5/11/2022 Healthcare Outcomes Performance Company agreed to acquire Premier Orthopaedic & Sports Medicine Associates, Ltd. The terms of the transaction were not disclosed. Healthcare Outcomes provides orthopedic practice and service line management to hospitals and health systems, medical groups and practices, and payors and is based in Phoenix.

5/12/2022 Kitchen Sink Studios, Inc. acquired Schafer Condon Carter, Inc. The terms of the transaction were not disclosed. Kitchen Sink operates as a branding agency service provider and is based in Phoenix.

5/16/2022 WillScot Mobile Mini Holdings Corp. (NasdaqCM:WSC) acquired Elite Modular Leasing and Sales, Inc. The terms of the transaction were not disclosed. WillScot provides workspace and portable storage solutions in the U.S., Canada, Mexico, and the United Kingdom and is based in Phoenix.

5/16/2022 Troon Golf, LLC acquired ICON Management Services, 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.

5/16/2022 Republic Services, Inc. acquired JRM Hauling & Recycling, Inc. The terms of the transaction were not disclosed. Republic Services, together with its subsidiaries, offers environmental services in the U.S. and is based in Phoenix.

5/17/2022 StandardAero, Inc. agreed to acquire EB Airfoils LLC. The terms of the transaction were not disclosed. StandardAero offers maintenance, repair, and overhaul services to the aerospace industry and is based in Scottsdale.

5/17/2022 AssuredPartners, Inc. acquired Duley-Bolwar & Associates, Inc., dba Duley Bolwar Pederson (DBP). The terms of the transaction were not disclosed. DBP operates as an employee benefits consulting firm that offers plan and risk management, technology, and communication and education services to its clients and is based in Scottsdale.

5/18/2022 Sun Auto Tire & Service Inc. acquired Good Neighbor Tire & Auto 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.

5/18/2022 Flex Technology Group acquired Standard Office Systems of Atlanta, Inc. The terms of the transaction were not disclosed. Flex, through its subsidiaries, provides managed printing, document management, and managed information technology services to the printing industry and is based in Mesa.

5/19/2022 Advisor Group, Inc. agreed to acquire Infinex Financial Holdings, Inc. The terms of the transaction were not disclosed. Advisor Group, through its subsidiaries, provides financial solutions in the U.S. and is based in Phoenix.

5/20/2022 North&Co. acquired Rusch Gledhill Real Estate & Property Management, LLC. The terms of the transaction were not disclosed. Rusch operates as a residential real estate brokerage firm and is based in Chandler. North&Co. provides residential real estate services specializing in property sales and purchasing services and is based in Phoenix.

5/23/2022 Valeo Networks Inc., dba SaalexIT, acquired Next I.T., LLC. The terms of the transaction were not disclosed. SaalexIT provides IT services in the areas of managed IT, cybersecurity, and cloud solutions and is based in Scottsdale.

5/24/2022 Gee Automotive Holdings acquired Tucson Subaru from Rocky and Mike DiChristofano. The terms of the transaction were not disclosed. Tucson Subaru is a new and used car dealership based in Tucson. Gee Automotive includes 26 brands and 27 dealership locations across Washington, Idaho, Oregon, and Arizona. Jennings, Strouss & Salmon, PLC served as legal advisor to the seller. Randall | Danskin served as legal advisor to the buyer.

5/26/2022 LUV Car Wash acquired six car wash locations in the Jacksonville-St. Augustine, Florida metro area from a national brand. The terms of the transaction were not disclosed. LUV operates a car wash platform focused on enhancing the customer experience and is based in Gilbert.

5/27/2022 International Cybernetics Company, LP (ICC) acquired IMS Infrastructure Management Services, LLC from Chaparral Capital. IMS provides pavement and sidewalk management services to municipalities around the U.S. and is based in Tempe. Chaparral Capital is an Arizona-focused investment group that acquired IMS in 2018.

Lithia Motors, Inc. (NYSE:LAD) announced that it recently acquired Desert 215 Superstore, Sahara Chrysler Dodge RAM, and Jeep Only in Las Vegas. Lithia operates as an automotive retailer with 277 locations in the U.S. and 14 locations in Canada. Jennings, Strouss & Salmon, PLC served as legal advisor to the seller.

Private Placements

5/4/2022 Copy Link, Inc. announced that it has raised a round of funding that included participation from new investor Flex Technology Group. The terms of the transaction were not disclosed. Flex, through its subsidiaries, provides managed printing, document management, and managed information technology services to the printing industry and is based in Mesa.

5/5/2022 viaPhoton, Inc. announced that it has received $80.0 million in a round of funding led by new investor Trinity Capital Inc. (NasdaqGS:TRIN). Trinity is a venture capital firm specializing in venture debt and is based in Phoenix.

5/6/2022 Equipifi, Inc. announced that it received $13.3 million in a round of funding from Curql Collective, PHX Venture Partners, LLC, and other investors. Equipifi develops a buy now pay later platform for financial institutions and is based in Scottsdale. PHX Venture Partners is a venture capital firm based in Phoenix.

5/10/2022 Aledia SA announced that it has received $30.0 million in a round of funding from new investor Trinity Capital Inc. (NasdaqGS:TRIN). Trinity is a venture capital firm specializing in venture debt and is based in Phoenix.

5/10/2022 evolvedMD, LLC announced that it has raised $5.4 million in a round of funding from Waterline Ventures, LLC and Conductive Ventures. evolvedMD provides behavioral health services in modern primary care and is based in Scottsdale.

5/10/2022 UnisLink Holdings LLC announced that it has received a round of funding that included participation from Riverside Partners. UnisLink provides end-to-end revenue cycle management and population health management services to independent physician groups, ACOs, and value-based care groups across the U.S. and is based in Phoenix. Morris, Manning & Martin, LLP served as legal advisor to UnisLink.

5/12/2022 Biolog, Inc. announced that it has received funding from Research Corporation Technologies (RCT) and BroadOak Capital Partners LLC. RCT is a venture capital firm based in Tucson.

5/12/2022 Green Energy Global Inc. announced that it has received $15.0 million in funding from a single investor. Green Energy provides EV charging stations and other green energy solutions and is based in Willcox.

5/12/2022 GravyStack, Inc. announced that it has received $5.2 million in a round of funding led by new investor Altrus Capital. GravyStack develops a gamified family finance application that helps kids and teens to earn and manage their money with levels of real-world and skill-building challenges and is based in Phoenix.

5/16/2022 Claravine, Inc. announced it has received $16.0 million in its Series B round of funding led by new investor Five Elms Capital Management, LLC with participation from existing investor Grayhawk Capital, LLC, and others. Grayhawk is a venture capital and SBIC investing firm based in Scottsdale.

5/19/2022 Space Perspective Inc. announced that it has received $17.0 million in a round of funding from SVB Financial Group (NasdaqGS:SIVB), Trinity Capital Inc. (NasdaqGS:TRIN), and other investors. Trinity is a venture capital firm specializing in venture debt and is based in Phoenix.

5/24/2022 Soli Organic Inc. announced that it has entered into an agreement to receive $50.0 million in a round of funding from new investors Horizon Technology Finance Corporation and Western Alliance Bancorporation (NYSE:WAL). Western Alliance Bancorporation operates as the bank holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada and is based in Phoenix.