Arizona Deal Intelligence - October 2023

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

10/2/2023 LOCH Technologies, Inc. acquired Avirtek, Inc. The terms of the transaction were not disclosed. Avirtek develops and provides cybersecurity appliances and services to protect computer applications and data and is based in Tucson.

10/2/2023 Fennemore announced that it was combining with Fresno-based Sullivan McGregor & Doerr LLP. The terms of the transaction were not disclosed. Fennemore is a full-service law firm with 16 offices across the U.S. including Phoenix.

10/2/2023 Trexon acquired C.E. Precision Assemblies, Inc. The terms of the transaction were not disclosed. C.E. is a provider of high quality interconnect solutions for military and aerospace applications and is based in Chandler.

10/2/2023 NW Natural Water Company, LLC acquired Rose Valley Water Company, Inc. The terms of the transaction were not disclosed. Rose Valley provides water services to households in the West Valley and is based in Green Valley.

10/2/2023 Foundation Building Materials, Inc. acquired KCI Doors & Hardware, LLC. The terms of the transaction were not disclosed. KCI distributes doors, frames, and hardware products and is based in Phoenix.

10/2/2023 GMS Inc. (NYSE:GMS) acquired AMW Construction Supply, LLC. The terms of the transaction were not disclosed. AMW distributes tools and fasteners used in residential and commercial framing and concrete projects and is based in Phoenix.

10/3/2023 Transact Campus, Inc. acquired Quickcharge Payment Solutions from M.M. Hayes Company, Inc. The terms of the transaction were not disclosed. Transact develops enterprise-class campus technology and payment solutions and is based in Scottsdale.

10/4/2023 Lumifi Cyber, Inc. acquired Castra Managed Services LLC for $14.0 million. Lumifi provides end-to-end cybersecurity resilience solutions with a specialty in managed detection and response services and is based in Scottsdale.

10/4/2023 Ally Waste Services, LLC acquired 51% interest in Waste Consolidators, Inc. for $6.0 million. Waste provides trash flow and maintenance programs and is based in Tempe. Ally provides valet trash and recycling services and is based in Gilbert.

10/5/2023 Arthur J. Gallagher & Co. (NYSE:AJG) acquired The Coverage Pro LLC. The terms of the transaction were not disclosed. The Coverage Pro is a retail insurance broker with expertise in construction for commercial and personal lines clients and is based in Scottsdale.

10/8/2023 Diamond Arrow Digital Marketing LLC acquired AZ Hometown Inspections LLC. The terms of the transaction were not disclosed. AZ Hometown provides home inspection services and is based in Chandler. Diamond operates as a web design and digital marketing company and is based in Gilbert.

10/9/2023 Meyer Distributing, Inc. acquired substantially all of the assets of AIM Wholesale, Inc. The terms of the transaction were not disclosed. AIM, a recreational vehicle distribution company, provides recreational vehicle parts, accessories, and supplies to dealers and is based in Phoenix.

10/10/2023 EP Wealth Advisors, LLC acquired Foothills Financial Planning & Wealth Management, LLC. The terms of the transaction were not disclosed. Foothills is an investment advisor that provides professional investment and planning advice and is based in Phoenix.

10/10/2023 International Sports Sciences Association (ISSA) acquired Empowered Education. The terms of the transaction were not disclosed. ISSA provides online fitness and wellness education and certifications and is based in Phoenix.

10/11/2023 Dogs 24/7 LLC acquired Good Dog Daycare & Boarding. The terms of the transaction were not disclosed. Dogs 24/7 engages in pet care services and is based in Chandler.

10/16/2023 Big Band Software acquired Inphonite, LLC. The terms of the transaction were not disclosed. Inphonite provides businesses with automated reminder and messaging software and is based in Tucson.

10/16/2023 Axway Software SA (ENXTPA:AXW) acquired Cycom Finances Groupe. The terms of the transaction were not disclosed. Axway operates as an infrastructure software publisher and has its U.S. headquarters in Scottsdale.

10/17/2023 Syndicate Sales, Inc. acquired TriMar Ribbon. The terms of the transaction were not disclosed. TriMar distributes ribbons that include metallic, taffeta, chiffon, satin, velvet, and linen ribbons and is based in Glendale.

10/17/2023 Inktavo acquired SignTracker. The terms of the transaction were not disclosed. Inktavo develops software solutions for branded merchandise businesses and is based in Tempe.

10/18/2023 Aurora Payments LLC acquired Iso1st LLC, dba VN Systems. The terms of the transaction were not disclosed. Aurora operates as a full-service payment solutions provider for small and medium-sized businesses and is based in Tempe.

10/19/2023 VensureHR, Inc. acquired Resource Management, Inc. The terms of the transaction were not disclosed. Vensure offers human resource consulting, managed services, and global business process outsourcing services and is based in Chandler.

10/24/2023 OptimizeRx Corporation (NasdaqCM:OPRX) acquired Healthy Offers, Inc., dba Medicx Media Solutions, for $95.0 million. Medicx provides media and marketing solutions and is based in Scottsdale. Weiss Brown served as legal advisor to Medicx.

10/24/2023 WillScot Mobile Mini Holdings Corp. (NasdaqCM:WSC) acquired 616GC, LLC. The terms of the transaction were not disclosed. 616GC provides tent structure rental services and is based in Tucson. WillScot provides work space and portable storage solutions and is based in Phoenix.

10/25/2023 Alicat Scientific, Inc. acquired Alpha Instrumatics Holding Company Limited for $44.3 million. Alicat designs and manufactures mass flow meters, mass flow controllers, and pressure controllers and is based in Tucson.

10/26/2023 Keystone Insurers Group, Inc. acquired Canyon Lands Insurance 1, Inc. (CLI). The terms of the transaction were not disclosed. CLI provides insurance agency services and is based in Tempe.

10/26/2023 GPS Insight, LLC acquired ClearPathGPS, 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.

10/30/2023 Outdoor Living Supply, LLC acquired Apache Stone LLC from Halquist Stone Company Inc. The terms of the transaction were not disclosed. Apache Stone distributes masonry, hardscape, and landscape supplies and is based in Phoenix.

10/30/2023 Instructure Holdings, Inc. (NYSE:INST) agreed to acquire Parchment LLC for $835.0 million. Parchment is an academic credentials management company and is based in Scottsdale. Latham & Watkins LLP served as the legal advisor to Parchment.

Private Placements

10/3/2023 VB&T Holding Co LLC announced that it will receive $28.0 million in funding. As of October 16, 2023, the company received $23.4 million in its first tranche from 48 investors. VB&T is a bank holding company and its subsidiary Zenith Bank & Trust is a full-service bank based in Scottsdale.

10/5/2023 Connections Health Solutions, LLC announced that it has raised $28.0 million in a round of funding led by new investor Town Hall Ventures with participation from returning investor Heritage Group, LLC. Connections provides emergent behavioral health services and is based in Phoenix.

10/11/2023 CashFlow Management, LLC, dba Kinective, announced that it will receive a round of funding in a transaction that includes participation from new investor TA Associates Management, L.P. and returning investor OceanSound Partners, LP. Kinective offers comprehensive technology solutions for aiding banks and credit unions across the banking ecosystem to provide digital transformation services and is based in Gilbert. Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal advisor to Kinective.

10/25/2023 Entrepix Medical, LLC announced that it will receive $6.0 million in a round of funding. Entrepix received $5.0 million in its first tranche. Entrepix provides medical tools and Planatome technology for surgeons and patients and is based in Phoenix.

10/25/2023 Backbar Solutions Incorporated announced that it has received a round of funding led by new investor Cherubic Ventures with participation from returning investors Finistere Ventures, LLC, SOSV Investments LLC, Outlander Labs, and Pathbreaker Ventures, LLC. Backbar, which has rebranded to Sidework, develops an automated bartending machine for restaurants and bars and is based in Oro Valley.

10/30/2023 Urbix Resources LLC announced that it has raised a round of funding from new investor Appian Capital Advisory LLP. Urbix manufactures and refines graphite products and lithium-ion batteries and is based in Mesa.

10/31/2023 Kelso Industries, LLC announced that it has received $50.0 million in funding from Paceline Equity Partners, LLC. Kelso provides heating, ventilation, air conditioning, and refrigeration, mechanical, and plumbing services and is based in Phoenix.