Arizona Deal Intelligence - April 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

4/1/2023 POSaBIT Systems Corporation (CNSX:PBIT) acquired certain assets of Hypur Inc. for $7.7 million. Hypur provides banking and payment technology solutions for financial institutions, merchants, consumers, and governmental taxing bodies and is based in Scottsdale.

4/3/2023 Paymerang, LLC acquired assets of KwikTag and Sypht. The terms of the transaction were not disclosed. KwikTag is an invoice automation provider for Microsoft Dynamics ERP systems and is based in Tempe.

4/4/2023 Eos Fitness Holdings, LLC acquired Texans Fit from M6 Football. The terms of the transaction were not disclosed. Eos operates a chain of fitness clubs and is based in Phoenix.

4/4/2023 Marucci Sports, LLC, a subsidiary of Compass Diversified (NYSE: CODI), acquired Baum Enterprises LLC (Baum Bat). The terms of the transaction were not disclosed. Baum Bat is a designer and manufacturer of branded wood composite baseball bats and is based in Phoenix.

4/4/2023 NEFCO Holding Company LLC acquired Southwest Fastener LLC. The terms of the transaction were not disclosed. Southwest Fastener distributes fasteners and hardware products to solar, industrial, waterwork, construction, and other markets and is based in Phoenix.

4/4/2023 Busch Vacuum Solutions USA acquired Vac-Tech Inc. The terms of the transaction were not disclosed. Vac-Tech is a vacuum pump service and sales provider for precision high vacuum pumps in the semiconductor, electronics, and solar markets and is based in Phoenix.

4/4/2023 Health Management Associates, Inc. acquired Crestline Advisors. The terms of the transaction were not disclosed. Crestline provides health plan consulting services to healthcare professionals and organizations and is based in Chandler.

4/7/2023 The Loan Store, Inc. agreed to acquire certain assets of Home Point Financial Corporation's wholesale originations channel. The terms of the transaction were not disclosed. The Loan Store is a mortgage brokerage firm based in Tucson.

4/13/2023 Cash Flow Management, LLC (CFM) acquired Integrated Media Management, LLC (IMM). The terms of the transaction were not disclosed. CFM provides connectivity, workflow, and analytics software solutions for over 2,500 banks and credit unions in North America and is based in Tempe. Skadden, Arps, Slate, Meagher & Flom LLP served as legal adviser to CFM.

4/17/2023 Waverock Software, Inc. acquired PlanIT Geo LLC. The terms of the transaction were not disclosed. Waverock designs and develops enterprise software and is based in Scottsdale.

4/18/2023 Lessen Inc. acquired Blue Skyre IBE LLC. The terms of the transaction were not disclosed. Lessen develops and offers a web-based platform for real estate and property services management and is based in Scottsdale. Fenwick & West LLP served as legal advisor to Lessen.

4/19/2023 Axway (ENXTPA:AXW) acquired AdValvas. The terms of the transaction were not disclosed. Axway operates as an infrastructure software publisher in the Americas, Europe, and the Asia Pacific, with its U.S. headquarters in Scottsdale.

4/20/2023 SinglePoint Inc. (OTCPK:SING) agreed to acquire the remaining 49% stake in Shield Saver, LLC. The terms of the transaction were not disclosed. SinglePoint is a renewable energy and sustainable lifestyle company that provides environmentally friendly energy efficiencies and healthy living solutions and is based in Phoenix.

4/20/2023 Aurora Payments LLC acquired NailSoft. The terms of the transaction were not disclosed. Aurora is a full-service payment solutions provider for small and medium-sized businesses and is based in Tempe.

4/21/2023 CrossFirst Bankshares, Inc. (NasdaqGS:CFB) entered into a definitive merger agreement to acquire Canyon Bancorporation, Inc. for $12.7 million. Canyon is a regional bank based in Tucson. Hunton Andrews Kurth LLP is serving as legal advisor to Canyon.

4/24/2023 SC Laboratories, Inc. acquired C4 Laboratories. The terms of the transaction were not disclosed. C4 Laboratories owns and operates cannabis labs that offer advanced testing capabilities to ensure quality and accurate testing and is based in Scottsdale.

4/25/2023 NeoLight, LLC agreed to acquire key assets from InterVIEW Medical Systems. The terms of the transaction were not disclosed. NeoLight designs medical equipment for eradication of preventable infant medical conditions, such as jaundice and hypothermia, and is based in Scottsdale.

4/25/2023 Sagility LLC acquired Devlin Consulting, Inc. The terms of the transaction were not disclosed. Devlin is a healthcare technology services company providing payment integrity services to several of the country’s leading health plans and is based in Chandler.

4/26/2023 Inspire Aesthetics, a Hidden Harbor Capital Partners portfolio company, acquired Shapiro Aesthetic Plastic Surgery & Skin Klinic. The terms of the transaction were not disclosed. Shapiro delivers personalized, high-quality care to patients seeking aesthetic and surgical procedures with expertise in rhinoplasty and facial rejuvenation and is based in Scottsdale. Greenberg Traurig, LLP served as legal advisor to Shapiro.

4/27/2023 Maintenance Porter acquired PermaTreat Inc. The terms of the transaction were not disclosed. Maintenance Porter provides maintenance services to homes and businesses and is based in Gilbert.

4/27/2023 Bancorp 34, Inc. (OTCQB:BCTF), the holding company of Bank 34, entered into a definitive merger agreement to acquire CBOA Financial, Inc. (OTCPK:CBOF), the holding company of Commerce Bank of Arizona, for $27.6 million. The merger will form the second largest bank headquartered in Arizona. Commerce is a full-service community bank that caters to small- to mid-sized businesses and real estate professionals and is based in Tucson. Bank 34 offers various banking products and services to individuals and businesses in the U.S. and is based in Scottsdale. Otteson Shapiro LLP is serving as legal advisor to CBOA. Nelson Mullins Riley & Scarborough LLP is serving as legal advisor to Bancorp 34.

4/27/2023 eVisit, Inc. acquired Bluestream Health, Inc. The terms of the transaction were not disclosed. eVisit develops a virtual care platform that enables hospitals to deliver convenient care to their patients and is based in Mesa.

4/28/2023 LeTip International Inc. announced that it has been acquired by company President Summer Middleton. The terms of the transaction were not disclosed. LeTip is a professional business referral networking organization with more than 250 chapters throughout the USA and Canada and is based in Mesa.

Private Placements

4/19/2023 Yellow Bird Holding, Inc. announced that it has received $6.3 million in an oversubscribed round of funding co-led by new investors Rebalance Capital and Manifold Group Inc. with participation from Plug and Play, LLC, Cameron Ventures LLC, QBE Ventures, and other investors. Yellow Bird operates a platform that matches professionals from the environmental, health, and safety fields with businesses and is based in Scottsdale.