Arizona Deal Intelligence - November 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

11/1/2023 AEA (Arizona Education Association) Federal Credit Union entered into a purchase and assumption agreement to acquire substantially all assets of West Valley National Bank. When the transaction is finalized, the combined institution will have approximately $456.0 million in assets. West Valley is a locally owned and operated community bank based in Goodyear. AEA is a not-for-profit financial cooperative serving Yuma and La Paz counties and is based in Yuma. Hunton Andrews Kurth LLP and Parker Law Team, PLLC is serving as legal advisor to West Valley. Luse Gorman, PC is serving as legal advisor to AEA.

11/1/2023 Runtime Technologies, LLC, dba Isos Technology, acquired Stack Intelligence's Atlassian Practice. The terms of the transaction were not disclosed. Isos operates as an IT consulting and services company and is based in Tempe.

11/1/2023 qBotica, Inc. acquired an unknown stake in HealthOmation, Inc. The terms of the transaction were not disclosed. qBotica is an automation and AI solutions provider and is based in Phoenix.

11/1/2023 Impact Floors of Texas, LLC, dba Impact Property Solutions, acquired Interior Concepts, Inc. The terms of the transaction were not disclosed. Interior supplies ceramic tiles, carpet, hardwood, and laminate products for residential and commercial installations and is based in Phoenix.

11/1/2023 Beach Fleischman & Co., P.C. acquired Jeong Lizardi, P.C. The terms of the transaction were not disclosed. Jeong Lizardi is an accounting firm based in Nogales. Beach Fleischman is a financial and business services advisory firm and is based in Tucson.

11/2/2023 Consolidated Metco, Inc. acquired TruckLabs, Inc. The terms of the transaction were not disclosed. TruckLabs develops GapGorilla, a device that eliminates the gap between the tractor and the trailer to increase fuel efficiency and is based in Phoenix.

11/6/2023 Arizona Nutritional Supplements, LLC (ANS) announced that its founders, Aaron Blunck and Jonathan Pinkus, have re-acquired the business. The terms of the transaction were not disclosed. ANS is a manufacturer of dietary supplements and nutritional products and is based in Chandler.

11/7/2023 G&A Outsourcing, Inc., dba G&A Partners, acquired Integrity Outsource, LLC. The terms of the transaction were not disclosed. Integrity operates as a professional employer organization that offers payroll, workers' compensation, and employee benefits services and is based in Phoenix.

11/8/2023 Eos Fitness Holdings, LLC acquired UFC FIT Silverado. The terms of the transaction were not disclosed. Eos operates a chain of fitness clubs and is based in Phoenix.

11/8/2023 Style Crest, Inc. acquired Westland Distributing and Alumi-Cover Awning Company, Inc. The terms of the transactions were not disclosed. Alumi-Cover manufactures and distributes aluminum shade and patio enhancement systems and is based in Mesa.

11/9/2023 Eide Bailly LLP acquired Secore & Niedzialek, PC. The terms of the transaction were not disclosed. Secore & Niedzialek is a certified public accounting and tax planning firm based in Phoenix.

11/14/2023 PMA Industries acquired United Western Enterprises, Inc. The terms of the transaction were not disclosed. PMA engages in the manufacturing of photo-chemical etching for aerospace, medical, electronics, and consumer products and is based in Phoenix.

11/16/2023 Stance Healthcare Inc. agreed to acquire Plural Studios. The terms of the transaction were not disclosed. Plural is a maker of adaptive furniture for healing, business, learning, and hospitality and is based in Scottsdale.

11/22/2023 Lazydays Holdings, Inc. (NasdaqCM:LAZY) acquired Orangewood RV Center. The terms of the transaction were not disclosed. Orangewood is a recreational vehicle dealership based in Surprise.

11/29/2023 Osceola Staffing Holdings, LLC acquired Progilisys Solutions, LLC. The terms of the transaction were not disclosed. Progilisys provides IT staffing solutions, including systems assessment, architecture, and application management services and is based in Scottsdale.

11/30/2023 Trinity Consultants, Inc. acquired WestLand Resources, Inc. The terms of the transaction were not disclosed. WestLand offers engineering and environmental consulting services for utilities, land development, municipal/county, tribal entities, and mining and industrial sectors, as well as for state and federal agencies, and is based in Tucson.

Private Placements

11/3/2023 ZevX, Inc. announced that it will receive $22.4 million in funding. As of November 14, 2023, the company has received $15.9 million in its first tranche from two investors. ZevX manufactures intelligent EV systems, battery electric powertrain and power system products, reefer refrigeration, and EV infrastructure such as charging stations and is based in Gilbert.

11/15/2023 Kyron Learning, PBC announced that it has received $14.6 million in Series A funding and a $.85 million grant from the Bill and Melinda Gates Foundation. The round was led by GSV Acceleration, LLC and included participation from Owl Ventures, ECMC Group, Cambiar Education, Imagine Learning LLC, and other investors. Imagine designs and develops digital education technology solutions and is based in Scottsdale.

11/16/2023 X-Bow Launch Systems Inc. announced the close of an interim funding round led by Lockheed Martin Ventures with participation from CrossLink Capital, Inc., Razor's Edge Management, LLC, and other investors. X-Bow specializes in additive manufacturing of solid rocket motors and is based in Phoenix.

11/17/2023 Alpine 4 Holdings, Inc. (NASDAQ:ALP) announced that it has entered into an equity line of credit agreement for gross proceeds of up to $32.0 million. The transaction will include participation from new investor Ionic Ventures, LLC. Alpine 4 Holdings acquires businesses in the Aerospace, Defense Services, Technology, Manufacturing or Construction Services sectors and is based in Phoenix.

11/17/2023 RunBuggy OMI, Inc. announced that it has raised $12.0 million in a transaction that included participation from 19 investors. RunBuggy develops and operates a technology platform that connects car shippers and haulers and is based in Phoenix.

11/28/2023 PayGround, Inc. announced that it has raised $19.7 million in an oversubscribed round of funding led by returning investor SixThirty Ventures, LLC with participation from Rally Ventures, IA Capital Group, and other investors. PayGround develops a cloud-based payment platform that allows users to receive and pay healthcare bills and is based in Gilbert.