Arizona Deal Intelligence - December 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

12/1/2022 The IT service company The 20 MSP acquired CSP Technologies Inc. The terms of the transaction were not disclosed. CSP provides IT support and security focusing on small and medium-sized businesses and is based in Sedona.

12/1/2022 Evernest, LLC acquired Keep Management, LLC. The terms of the transaction were not disclosed. Keep offers property management services and is based in Tucson.

12/1/2022 Wipfli LLP agreed to acquire Apostletech, LLC. The terms of the transaction were not disclosed. Apostletech offers customer relationship management implementations and managed IT services and is based in Chandler.

12/7/2022 Jason Mitchell Real Estate agreed to acquire HomeAdvantage. The terms of the transaction were not disclosed. HomeAdvantage provides real estate services that help credit unions purchase mortgage businesses and is based in Scottsdale. Jason Mitchell Real Estate offers real estate buying and selling services through their estate brokers and is based in Scottsdale.

12/13/2022 AssuredPartners, Inc. acquired Bespoke Insurance Solutions. The terms of the transaction were not disclosed. Madi operates as a property and casualty insurance agency and is based in Chandler.

12/13/2022 CCMR3 acquired Healthcare-I, L.L.C. (HCI). The terms of the transaction were not disclosed. HCI is a healthcare receivables management company and is based in Phoenix.

12/13/2022 Lakeshore Recycling Systems, LLC acquired Bulldog Disposal & Recycling, Inc. The terms of the transaction were not disclosed. Bulldog provides scrap metal recycling and trash removal services and is based in Kingman.

12/15/2022 LUV Car Wash acquired The Autowash Group. 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.

12/19/2022 Healthcare Outcomes Performance Company (HOPCo) and Premier Orthopaedic & Sports Medicine Associates, Ltd. acquired The Philadelphia Hand Center, P.C. The terms of the transaction were not disclosed. HOPCo provides orthopedic practice and service line management to hospitals and health systems, medical groups and practices, and payors and is based in Phoenix.

12/20/2022 Sterling Infrastructure, Inc. (NasdaqGS:STRL) acquired Concrete Construction Services of Arizona L.L.C. and its affiliated company (collectively “CCS”) for $22.0 million. CCS offers residential single-family home concrete foundations, including the preparation, pouring, and finishing of post-tension concrete foundations in new housing subdivisions and is based in Maricopa.

12/20/2022 SiteOne Landscape Supply, Inc. (NYSE:SITE) acquired Telluride Natural Stone, Inc. The terms of the transaction were not disclosed. Telluride manufactures natural stone, reclaimed wood, reclaimed brick, and hardscapes and is based in Phoenix.

12/22/2022 Alimentation Couche-Tard Inc. (TSX:ATD) agreed to acquire True Blue Car Wash, LLC. The terms of the transaction were not disclosed. True Blue offers car washing services and is based in Scottsdale. Vinson & Elkins LLP is serving as legal advisor to True Blue.

12/22/2022 Ingenovis Health, Inc. acquired SpringBoard Healthcare Group, LLC. The terms of the transaction were not disclosed. SpringBoard provides talent acquisition and staffing services to the healthcare industry and is based in Phoenix. Dinsmore & Shohl LLP served as legal advisor to SpringBoard.

12/30/2022 Greenfiber Arizona LLC, a subsidiary of Industrial Opportunity Partners, acquired the assets of United Fibers LLC. The terms of the transaction were not disclosed. United Fibers manufactures cellulose fiber products from recycled materials and is based in Chandler. Jennings Strouss & Salmon PLC served as legal advisor to United Fibers.

12/30/2022 Johnson & Johnson Incorporated agreed to acquire assets of Statewide Insurance Corp. The terms of the transaction were not disclosed. Statewide operates as an insurance broker and is based in Phoenix.

12/30/2022 Nuvodia acquired Phreedom Technologies. The terms of the transaction were not disclosed. Phreedom provides IT consulting, managed IT, and security services and is based in Chandler.

12/31/2022 QHM Holdings Inc. acquired Great Elm Healthcare, LLC for $80.0 million. Great Elm Healthcare provides durable medical equipment and services and is based in Mesa.

12/31/2022 Troon Golf, LLC acquired an interest in Antares Cook County Golf, LLC. 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.

12/31/2022 The Joint Corp. (NasdaqCM:JYNT) acquired six franchised clinics in Northern California. The terms of the transaction were not disclosed. The Joint develops, owns, operates, supports, and manages chiropractic clinics and is based in Scottsdale.

M&A - Financial

12/6/2022 Conscious Capital Growth, LLC acquired Patrice & Associates, Inc. The terms of the transaction were not disclosed. Conscious Capital offers franchise growth advisory services and is based in Scottsdale.

12/8/2022 The Acacia Group acquired Isos Technology. The terms of the transaction were not disclosed. Isos operates as an IT consulting and services company and is based in Tempe.

12/19/2022 Avista Capital Holdings, L.P. acquired Spear Education, LLC. The terms of the transaction were not disclosed. Spear provides education and resources for dentists and is based in Scottsdale.

Private Placements

12/7/2022 Dae Hair announced that it has raised $8.0 million in its Series A round of funding led by new investor Verity Venture Partners, LLC with participation from DBA Media LLC, Willow Growth Partners, and other investors. Dae manufactures hair care products and is based in Mesa.

12/8/2022 Uplinq announced that it has raised $5.6 million in a round of funding led by AZ-VC with participation from LiveOak Venture Partners LP, Merus Capital, and other investors. Uplinq provides advanced bookkeeping solutions through data automation and machine learning and is based in Tempe. AZ-VC is a venture capital fund based in Phoenix.

12/16/2022 VolteoEdge, LLC announced that it has received funding from new investor Mastek Limited (NSEI:MASTEK). VolteoEdge is a SaaS company with an enterprise-ready Edge Intelligence Platform that enables secure IoT workflows and makes business workflows smarter and is based in Chandler.

12/20/2022 RxAnte Inc. announced that it will raise $25.0 million in a round of funding that will include participation from new investor Trinity Capital Inc. (NasdaqGS:TRIN). On the same date, the company received $15.0 million in its first tranche closing. Trinity is a venture capital firm specializing in venture debt and is based in Phoenix.

12/22/2022 Orthotic Holdings, Inc. announced that it has raised funding from new investor Summit Partners Credit Advisors, L.P. Orthotic, through its subsidiaries, manufactures custom foot orthoses, therapeutic footwear, and ankle foot orthoses and is based in Mesa.

12/27/2022 Gold Kidney Health Plan Inc. announced that it has received $60.0 million in a round of funding from new investor Chicago Pacific Founders. Gold Kidney provides health insurance services to patients with chronic kidney and end-stage renal disease and is based in Scottsdale.

12/28/2022 Schola, Inc. announced that it has raised $10.0 million in a round of funding led by new investor Channel Equity Partners with participation from Arizona Founders Fund, LLC and other investors. Schola owns and operates an online platform for parents to find schools for their children and is based in Phoenix. Arizona Founders Fund is a venture capital firm based in Phoenix.

12/30/2022 Bancorp 34, Inc. (OTCPK:BCTF), the holding company of Bank 34, announced the closing of a $14.0 million private placement led by Castle Creek Capital. Bank 34 is a community bank offering various banking products and services to individuals and businesses and is based in Scottsdale. Luse Gorman, PC served as legal advisor to Bancorp 34.