Arizona Deal Intelligence - May 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
5/1/2024 Roofing Wholesale Co., Inc., dba RWC Building Products LLC, and Henry Products announced the acquisition of New Mexico Plaster and Supply, Inc. The terms of the transaction were not disclosed. RWC imports and distributes roofing shingles and accessories and is based in Phoenix.
5/1/2024 Insight Enterprises, Inc. (NasdaqGS:NSIT) acquired Info Center, Inc. The terms of the transaction were not disclosed. Insight, together with its subsidiaries, provides information technology, hardware, software, and services in the United States and internationally and is based in Chandler.
5/1/2024 Larry Mathis Financial Planning, LLC acquired RH Wealth Advisors Inc. The terms of the transaction were not disclosed. Larry Mathis is an employee-owned investment manager and is based in Phoenix.
5/1/2024 Summit Hydraulics LLC acquired PowerX International, LLC. The terms of the transaction were not disclosed. Summit manufactures and supplies hydraulic couplers and valves and is based in Phoenix. Katten Muchin Rosenman LLP served as legal advisor to Summit.
5/1/2024 GDI Integrated Facility Services Inc. (TSX:GDI) acquired Paramount Building Solutions. The terms of the transaction were not disclosed. Paramount provides janitorial, floor care, and maintenance services and is based in Phoenix.
5/2/2024 Ally Waste Services, LLC acquired Litterally. The terms of the transaction were not disclosed. Litterally provides bulk trash removal services and is based in Phoenix. Ally provides valet trash and recycling services and is based in Gilbert.
5/2/2024 Salt River Aviation, LLC acquired Phoenix Aviation Services, L.L.C., dba Aviocraft. The terms of the transaction were not disclosed. Aviocraft offers repair and overhaul services of aircraft equipment to the aviation industry. Salt River supplies and provides APUs, components, and related services to the aviation ecosystem and is based in Chandler.
5/2/2024 Ox Group USA, LLC acquired Armor Tool, LLC. The terms of the transaction were not disclosed. Armor manufactures auto-adjusting woodworking and welding clamps and is based in Prescott.
5/7/2024 Elevate Services, Inc. acquired CJK Group, Inc. The terms of the transaction were not disclosed. Elevate develops software and services for law departments and law firms and is based in Phoenix.
5/7/2024 Program Productions, Inc. acquired substantially all of the assets of Rhino Staging & Event Productions, Inc. The terms of the transaction were not disclosed. Rhino provides professional event production staffing services and is based in Tempe.
5/9/2024 Concurrent Investment Advisors, LLC acquired The Wealth Stewards, LLC. The terms of the transaction were not disclosed. Wealth Stewards provides financial planning services to business owners, entrepreneurs, and high net worth families and individuals and is based in Phoenix.
5/9/2024 BMA Architecture, LLC acquired Whitneybell Perry, Inc. The terms of the transaction were not disclosed. Whitneybell provides architectural and planning services and is based in Phoenix. BMA provides architecture and planning solutions for commercial, industrial, and multi-family construction and is based in Gilbert.
5/9/2024 Broadmark Realty Capital Inc. agreed to acquire MadisonOne. The transaction closed on 6/11/2024. The terms of the transaction were not disclosed. MadisonOne provides agricultural loan services and is based in Scottsdale. Lewis Firm served as legal advisor to MadisonOne.
5/14/2024 Axosoft, LLC, dba GitKraken, acquired CodeSee Inc. The terms of the transaction were not disclosed. GitKraken develops and offers project management software and is based in Scottsdale.
5/16/2024 Bluespring Wealth Partners, LLC acquired KDI Wealth Management. The terms of the transaction were not disclosed. KDI offers wealth management and advisory services and is based in Scottsdale.
5/16/2024 Pima Federal Credit Union agreed to acquire substantially all of the assets of Republic Bank of Arizona (RBAZ) in an all-cash transaction. The terms of the transaction were not disclosed. The acquisition will add the RBAZ branches in Phoenix, Gilbert, and Scottsdale to Pima’s existing branch network in the Tucson metropolitan area and Springerville with Pima expanding to twelve total locations and over $1.5 billion in total assets. RBAZ provides various community banking services for individuals, businesses, and professionals and is based in Phoenix. Pima provides a suite of personal and business banking products and services and is based in Tucson. Fenimore Kay Harrison LLP is serving as legal advisor to RBAZ. Luse Gorman, PC is serving as legal advisor to Pima.
5/17/2024 Sansei Denshi Co., Ltd. agreed to acquire the remaining 49.9% stake in Saunders & Associates, LLC. The terms of the transaction were not disclosed. Saunders manufactures and supplies test and production systems for quartz crystals, oscillators, filters, and other electronic components and is based in Phoenix.
5/20/2024 Henderson Park Capital Management acquired MSR Resort Lodging Tenant, LLC, dba Arizona Biltmore, for $705.0 million. Morgan Stanley as lead, together with Deutsche Bank and J.P. Morgan, provided a $460.0 million commercial mortgage loan to finance the acquisition. Originally opened in 1929, Arizona Biltmore is an iconic 705-key, luxury, full-service hotel in Phoenix.
5/20/2024 Sunningdale Tech Ltd acquired the assets of Proactive Plastics LLC. The terms of the transaction were not disclosed. Proactive provides plastic injection molding services and is based in Phoenix.
5/21/2024 Lumifi Cyber, Inc. acquired Netsurion LLC. The terms of the transaction were not disclosed. Lumifi provides end-to-end cybersecurity resilience solutions with a specialty in managed detection and response (MDR) services and is based in Scottsdale.
5/21/2024 ProLux Energy acquired SolarShips Installation Services. The terms of the transaction were not disclosed. Solarships offers solar panel installation and maintenance services for residential and commercial properties and is based in Phoenix. ProLux offers financial consultancy services to own, lease, or purchase solar systems and is based in Scottsdale.
5/22/2024 Anderson Lock & Safe LLC acquired Hicks Safes & Locks, Inc. The terms of the transaction were not disclosed. Hicks retails, installs, and repairs safes, locks, and hardware products for commercial and residential customers and is based in Phoenix. Anderson offers commercial, residential, and automotive locksmith installation and repair services and is based in Phoenix.
5/28/2024 Ashton Thomas Private Wealth, LLC acquired Campbell Private Wealth Management. The terms of the transaction were not disclosed. Based in Scottsdale, Ashton is a diversified financial advisory firm and operates as a subsidiary of Arax Investment Partners.
5/31/2024 Premier Biotech, Inc. acquired DesertTox, LLC. The terms of the transaction were not disclosed. DesertTox offers laboratory drug testing services and is based in Scottsdale.
5/31/2024 Keurig Dr Pepper Inc. (NasdaqGS:KDP) agreed to acquire all production, sales and distribution assets of Kalil Bottling Co. The terms of the transaction were not disclosed. Kalil manufactures and distributes soft drinks, teas, and waters and is based in Tucson.
Private Placements
5/1/2024 Piction Health, Inc. announced that it has raised $6.0 million in a round of funding that included participation from Michael B. Bayless & Associates, Inc., dba Bayless Healthcare Group, Flare Capital Partners, Techstars Central, LLC, Good Growth Capital, Argon Ventures, and other investors. Bayless provides healthcare services through their clinics and is based in Phoenix.
5/15/2024 EdBlox Inc., dba Elevate K-12, announced that it has received $25.0 million in a round of funding from new investor Trinity Capital Inc. Trinity is a venture capital firm specializing in venture debt and is based in Phoenix.
5/21/2024 Thurston Group announced that its portfolio company Gen4 Dental Partners closed on a $315.0 million credit facility led by Man Varagon. Gen4 is a dental service organization that provides comprehensive practice support services to dental practices across the United States and is based in Tempe. Willkie Farr & Gallagher LLP served as a legal advisor to Gen4.
5/21/2024 Pheon Therapeutics Ltd announced that it has received $120.0 million in a round of funding led by new investor TCG Crossover Management, LLC with participation from Perceptive Advisors LLC, Lightspeed Ventures, LLC, BVF Partners L.P., Research Corporation Technologies, and other investors. Research Corporation is a venture capital firm based in Tucson.
5/29/2024 Axus Technology, LLC announced that it has received $12.5 million in a round of funding that included participation from new investor IntrinSiC Investment LLC. Axus provides surface processing solutions for semiconductor, MEMS, substrate, and related technologies and is based in Chandler.
5/29/2024 Safe Haven Defense, LLC announced that it has received a recapitalization round of funding from new investor Dominus Capital, L.P. Safe Haven manufactures, sells, and installs bullet, burn, blast, chemical and burglar resistant products which include laminates, glass and panels and is based in Phoenix.