Arizona Deal Intelligence - April 2024
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
4/1/2024 World Insurance Associates LLC acquired the business of InterWeb Insurance. The terms of the transaction were not disclosed. InterWeb operates as an insurance agency and is based in Lake Havasu City. Satin and Lee Law P.C. served as legal advisor to InterWeb.
4/2/2024 Reliance, Inc. (NYSE:RS) acquired MidWest Materials, Inc. The terms of the transaction were not disclosed. Reliance operates as a diversified metal solutions provider and is based in Scottsdale.
4/2/2024 Integra Consumer Lending acquired Aztec Pawn & Gold. The terms of the transaction were not disclosed. Aztec engages in the pawn business with two pawn shop locations in Phoenix. Integra operates as a financial services company based in Phoenix.
4/4/2024 RVi Planning acquired Anderson Design Company, LLC. The terms of the transaction were not disclosed. Anderson offers landscape architecture and urban design services and is based in Phoenix.
4/4/2024 Vensure Employer Services, Inc. acquired Ault International Medical Management. The terms of the transaction were not disclosed. Vensure provides professional employer organization and human resource outsourcing services to small and mid-market businesses and is based in Chandler.
4/8/2024 Beyond Risk Management, Inc. acquired SL Management Partners, LLC. The terms of the transaction were not disclosed. Beyond Risk operates as an independent alternative risk management company and is based in Phoenix.
4/8/2024 Guardian Restoration Partners acquired DryLux Restoration. The terms of the transaction were not disclosed. DryLux provides water damage restoration, mold remediation, fire restoration, and repair services and is based in Gilbert.
4/8/2024 Maison Solutions Inc. (Nasdaq:MSS) acquired Lee Lee Oriental Supermart, Inc. through Maison’s wholly-owned subsidiary AZLL, LLC for $22.2 million. Lee Lee is a chain of Asian-centric international grocery stores in Tucson, Peoria, and Chandler.
4/11/2024 Lavish Entertainment Inc. acquired ABI Create L.L.C. The terms of the transaction were not disclosed. ABI provides event management and production services and is based in Tempe.
4/11/2024 Glass City Talent, LLC, dba Talent Dynamics, acquired assets of News Blues from Reel Media Group. The terms of the transaction were not disclosed. News Blues operates as a broadcast news website that provides news, insights, and answers for journalists and is based in Phoenix. Talent Dynamics provides online placement and coaching services for businesses in the broadcasting industry and is based in Phoenix.
4/11/2024 Microchip Technology Incorporated (NasdaqGS:MCHP) acquired VSI Inc. The terms of the transaction were not disclosed. Microchip develops, manufactures, and sells smart, connected, and secure embedded control solutions and is based in Chandler.
4/11/2024 Criticore acquired Jenco Inc. The terms of the transaction were not disclosed. Jenco operates as an electrical contractor and is based in Scottsdale. Honigman LLP served as legal advisor to Criticore.
4/14/2024 Resideo Technologies, Inc. (NYSE:REZI) announced a definitive agreement pursuant to which it agreed to acquire Snap One Holdings Corp. (Nasdaq:SNPO) for $10.75 per share in cash, for a transaction value of approximately $1.4 billion, inclusive of net debt. Resideo intends to use proceeds from committed debt financing, cash on hand, and a $500.0 million perpetual convertible preferred equity investment from Clayton, Dubilier & Rice LLC to fund the transaction. Scottsdale-based Resideo is a global manufacturer and developer of technology-driven products and components that provide critical comfort, energy management, and safety and security solutions to over 150 million homes globally. Willkie Farr & Gallagher LLP is serving as legal advisor to Resideo.
4/15/2024 Microchip Technology Incorporated (NasdaqGS:MCHP) acquired Neuronix AI Labs. The terms of the transaction were not disclosed. Neuronix develops and offers artificial intelligence platform-based computer vision acceleration services to focus on computer-vision applications on end devices and is based in Chandler. Microchip develops, manufactures, and sells smart, connected, and secure embedded control solutions and is based in Chandler.
4/15/2024 MEB Commercial Management Group, LLC acquired Weller Management, LLC. The terms of the transaction were not disclosed. MEB engages in real estate leasing and management and is based in Phoenix.
4/16/2024 Banner-University Medical Center Tucson Campus, LLC acquired University Orthopedic Specialists. The terms of the transaction were not disclosed. University Orthopedic Specialists operates an orthopedic clinic and is based in Tucson. Banner-University Medical Center operates a hospital that provides healthcare services to patients and is based in Tucson.
4/17/2024 DrFirst.com, Inc. acquired substantially all assets of Myndshft Technologies, Inc. The terms of the transaction were not disclosed. Myndshft offers a pharmacy platform and is based in Mesa.
4/17/2024 MediaCo Holding Inc. (NasdaqCM:MDIA) acquired substantially all of the assets of Estrella Broadcasting, Inc. for $196.7 million. Estrella operates as a broadcasting company and is based in Show Low. Paul, Weiss, Rifkind, Wharton & Garrison LLP and Wiley Rein LLP served as legal advisors to Estrella.
4/18/2024 Smith Entertainment Group (SEG) acquired the contracts of Arizona executives, coaches and players from IceArizona Hockey Co LLC, dba Arizona Coyotes, from Alex Meruelo for $1.2 billion. SEG is led by Ryan and Ashley Smith, owners of NBA team Utah Jazz. The NHL board of governors approved the sale and relocation to Utah.
4/23/2024 EIS Holdings, LLC acquired Environmental Technology, Inc. The terms of the transaction were not disclosed. Environmental Technology offers environmental consulting services and is based in Phoenix.
4/30/2024 Crest Insurance Group, LLC acquired Crossroads Insurance Services. The terms of the transaction were not disclosed. Crest is an independent property and casualty insurance broker based in Tucson.
Private Placements
4/1/2024 C.A. Carlin acquired a minority stake in O’Malley & Associates Sales, LLC. O’Malley provides sales and marketing services in the retail grocery channel and is based in Chandler.
4/3/2024 AtlasIED announced that it has completed an equity investment in IntelliSee. AtlasIED is a commercial audio and security solutions manufacturer based in Phoenix.
4/11/2024 Nectero Medical, Inc. announced that it has raised $96.0 million in a round of funding led by new investor NVP Associates, LLC with participation from new investors BioStar Ventures LLC, Cadence Healthcare Ventures, LLC, and other investors. Nectero has developed a treatment to stabilize growth and prevent rupture of mid-sized abdominal aortic aneurysms and is based in Tempe.
4/16/2024 Rivos Inc. announced that it has received more than $250.0 million in its Series A-3 round of funding led by new investor Matrix Capital Management Company, LP with participation from Cambium Capital Partners, Intel Capital Corporation, Singularity Capital Management, and other investors. Singularity is a private equity firm based in Tucson.
4/16/2024 Bills.com, LLC, dba Achieve.com, announced that it has raised a round of funding from new investor Sagard SAS. Achieve.com operates as a marketing lead generator and as a broker for loans and debt resolution services. It is based in Tempe.
4/17/2024 Southwest Gas Holdings, Inc. (NYSE:SWX) announced the pricing of the IPO for its wholly owned subsidiary Centuri Holdings, Inc. (NYSE:CTRI), issuing 12,400,000 shares of Centuri’s common stock at an initial public offering price of $21.00 per share. In addition to the shares sold in the IPO, Centuri announced that Icahn Partners and Icahn Partners Master Fund LP, investment entities affiliated with Carl C. Icahn, will purchase 2,591,929 shares of Centuri’s common stock in a concurrent private placement at a price per share equal to the IPO price, for gross proceeds of approximately $54.4 million. Centuri is a Phoenix-based strategic utility infrastructure services company that partners with regulated utilities to build and maintain the energy network that powers millions of homes and businesses across the U.S. and Canada.