Arizona Deal Intelligence - January 2025

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

1/1/2025 Mueller Sports Medicine, Inc. acquired the Pro Orthopedic brand. The terms of the transaction were not disclosed. Pro Orthopedic designs, manufactures, and sells neoprene sleeves, supports, braces, and other products used in the sports medicine field and is based in Tucson.

1/3/2025 Elk Creek Trailers LLC acquired RestroomTrailerForSale.com. The terms of the transaction were not disclosed. Restroom Trailer operates as an online platform that offer portable restrooms and is based in Overgaard. Elk Creek manufactures restroom trailers for events, construction sites, and disaster relief and is based in Overgaard.

1/3/2025 Ardent Health (NYSE:ARDT) acquired 18 urgent care clinics across New Mexico and Oklahoma from NextCare Urgent Care. The terms of the transaction were not disclosed. Based in Tempe, NextCare is a health care provider offering primary, virtual, and urgent care with approximately 200 medical centers across the country.

1/6/2025 The Blackhawk Group acquired the Maintenance, Repair, and Overhaul (MRO) business of Glendale Aero Services, Inc. The terms of the transaction were not disclosed. Glendale Aero provides full service fixed base operator (FBO) services for private and corporate aircraft and is based in Glendale.

1/7/2025 Revelation Pharma Corp. acquired AleraCare Pharmacy, an independent compounding pharmacy within the AleraCare organization. The acquisition is limited to AleraCare's compounding pharmacy operations, which will be rebranded as OmniScript Compounding. The terms of the transaction were not disclosed. AleraCare is a provider of infusion treatments and pharmacy services for high-need and medically complex populations and is based in Phoenix.

1/8/2025 Safety Shot, Inc. (NasdaqCM:SHOT) entered into a definitive arrangement agreement to acquire Yerbaé Brands Corp. (TSXV:YERB.U) for an enterprise value of $19.7 million. Yerbaé engages in the development, marketing, sale, and distribution of plant-based energy beverages and is based in Scottsdale. Cozen O’Connor LLP is serving as legal advisor to Yerbaé.

1/9/2025 Clear Demand, Inc. acquired Bungee Tech Corporation. The terms of the transaction were not disclosed. Based in Scottsdale, Clear Demand delivers a price strategy optimization solution for brick and mortar retail and ecommerce markets.

1/9/2025 Inframark, LLC acquired Cornerstone Properties, Inc. The terms of the transaction were not disclosed. Cornerstone provides community management services for a portfolio of homeowner, condominium, townhome, and commercial associations and is based in Phoenix.

1/16/2025 Sweetmore Bakeries acquired Azteca Bakeries, Inc. The terms of the transaction were not disclosed. Azteca operates as a wholesale bakery that produces and sells Mexican pastries and baked goods and is based in Phoenix.

1/21/2025 Olin Corporation (NYSE:OLN) announced it has entered into a definitive agreement with AMMO, Inc. (NASDAQ:POWW) whereby Olin will acquire AMMO's small caliber ammunition manufacturing assets for $75.0 million. AMMO designs, produces, and markets ammunition and ammunition component products and is based in Scottsdale. Bryan Cave Leighton Paisner LLP is serving as legal advisor to AMMO.

1/24/2025 Raintree Systems, Inc. acquired Yoomi Health, Inc. The terms of the transaction were not disclosed. Raintree develops and operates healthcare software solutions for the healthcare industry and is based in Chandler.

1/28/2025 Elevate Services, Inc. acquired Sagacious Research Private Limited. The terms of the transaction were not disclosed. Elevate develops a law platform intended to provide consultancy, technology, and managed services and is based in Phoenix. Reed Smith LLP served as legal advisor to Elevate.

1/29/2025 Sectigo Inc. acquired the public certificate business of Entrust Corporation. The terms of the transaction were not disclosed. Sectigo develops and offers automated digital identity management and web security solutions and is based in Scottsdale.

1/29/2025 CoreX, LLC agreed to acquire the businesses of Volteo Digital. The terms of the transaction were not disclosed. Based in Chandler, Volteo is a ServiceNow Elite Partner providing expert-led, end-to-end implementation and consulting services coupled with nearshore managed services, training programs, and ServiceNow authorized talent placement.

1/29/2025 Sunbelt Modular, Inc. acquired Britco Structures USA, LLC. The terms of the transaction were not disclosed. Sunbelt designs and manufactures modular buildings and is based in Phoenix.

1/29/2025 Sagility LLC acquired BroadPath LLC for $57.9 million. BroadPath is a Tucson-based healthcare services organization that provides specialized business, compliance, and technology services to healthcare payers and providers in commercial and government sectors.

1/30/2025 Mullen Automotive, Inc. (NasdaqCM:MULN) agreed to acquire assets for U.S. battery production from Nikola Corporation (NasdaqGS:NKLA). The terms of the transaction were not disclosed. Nikola operates as a technology innovator and integrator that develops energy and transportation solutions and is based in Phoenix.

M&A - Financial

1/7/2025 Verde Equity Partners LP acquired Chula Vista Landscaping, Inc. The terms of the transaction were not disclosed. Chula Vista provides commercial landscaping services for corporate campuses, retail centers, and property management firms and is based in Tucson.

1/7/2025 A consortium of international institutional investors led by funds managed by Oaktree Capital Management, L.P. acquired Arrivia, Inc. The terms of the transaction were not disclosed. Arrivia provides vacation-based loyalty, rewards, and incentive programs to its members and is based in Scottsdale.

1/8/2025 GTCR LLC acquired Concord Servicing LLC. The terms of the transaction were not disclosed. Concord provides a software for specialized loan servicing and is based in Scottsdale.

1/9/2025 Menorah Ventures Group agreed to acquire JudaicaJewelry.net. The terms of the transaction were not disclosed. JudaicaJewelry.net is a major online retailer of Jewish jewelry and ceremonial accessories and is based in Scottsdale.

1/21/2025 Levine Leichtman Capital Partners and Management acquired SYNERGY HomeCare Franchising, LLC. The terms of the transaction were not disclosed. Based in Tempe, SYNERGY is a provider of in-home care services to seniors and individuals of all ages with over 240 franchises operating in approximately 550 territories across 42 states. McDermott Will & Emery LLP and Lathrop GPM LLP served as legal advisors to SYNERGY.

Private Placements

1/21/2025 Silk Technologies Inc. announced that it will receive 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.

1/21/2025 ServerLIFT Corporation announced that it has received a round of funding that included participation from new investor American Pacific Group, L.P. ServerLIFT manufactures data center lifts and server relocation equipment for data centers and is based in Phoenix.

1/27/2025 Elucent Medical, Inc. announced that it has received $30.0 million in a round of funding that included participation from new investor Trinity Capital Inc.

1/28/2025 MyLand Company, Inc. announced that it has received $23.0 million in a round of funding led by new investor Proterra Investment Partners LP. Based in Phoenix, MyLand is a soil health company with patented technology that allows farmers to easily and rapidly implement regenerative agriculture practices.

1/29/2025 Boostly, Inc. raised $22.0 million in its Series A round led by PeakSpan Capital with participation from existing investors Y Combinator, Trestle Partners, and Singularity Capital. The transaction closed on 2/10/2025. Singularity is a private equity firm based in Tucson.

1/30/2025 Wisetack, Inc. announced that it has received $25.0 million in a round of funding that included participation from Trinity Capital Inc.