Construction Acquisitions in Arizona

Block Renovation has acquired BuildZoom Marketplace to create a nationwide AI-powered renovation and construction platform. The combined company will expand Block's offerings beyond renovations into new residential construction and small commercial projects, and the integrated platform now processes over $100 million in annual projects across all 50 states.

Sunflower Industrial has acquired Arizona Epoxy Systems (AES), a Tempe-based resinous flooring installer serving commercial, industrial and aviation customers across the Southwest. AES will operate as Sunflower Industrial's Southwest Region headquarters, with existing leadership retained as the company integrates AES with Sunflower's Epoxy Coating Specialists and Desco Floor Systems platform.

TopBuild Corp. has acquired Progressive Roofing from Bow River Capital in an all-cash transaction valued at $810 million. Progressive Roofing, headquartered in Phoenix, Arizona, is a national commercial roofing contractor with about 1,700 employees and 12 branches; the acquisition expands TopBuild's service capabilities and geographic footprint in commercial roofing.

O'Hara's Son Roofing, a portfolio company of Angeles Equity Partners, has acquired Starkweather Roofing, a commercial roofing services provider based in Arizona. The add-on acquisition expands OSR's presence in the Southwestern U.S., broadens its service capabilities in re-roofing, maintenance and emergency repairs, and will allow Starkweather to continue operating under its existing name; terms were not disclosed.

The Valcourt Group has acquired American Cleaning Systems (ACS), a Phoenix-based commercial cleaning company, marking Valcourt's entry into the Phoenix metropolitan market. ACS's founder Barry Frankel and management team will remain involved in day-to-day operations as Valcourt expands its exterior building services footprint in Arizona.

Diverzify, a national commercial flooring and interior services provider, has acquired Phoenix-based Wholesale Floors, LLC to expand its West Coast and Arizona presence. Wholesale Floors, a nearly 45-year-old commercial flooring distributor and contractor focused on healthcare and education clients, will join Diverzify's network of brands as part of the company's continued roll-up strategy.

Paul Johnson Drywall (PJD) has entered into a definitive agreement to acquire Stratis Construction, a leading Phoenix-area drywall subcontractor founded in 1993. Stratis will be integrated into PJD’s scaled drywall installation platform, with the Stratis leadership team expected to remain and field operations continuing without change; the deal was expected to close in early Q4 2023.

Phoenix-based electrical contractor Cannon & Wendt has merged with Tucson-based Gilbert Electric, bringing Gilbert's 94 electrical professionals into Cannon & Wendt's employee-owned organization. The combination expands Cannon & Wendt's statewide reach and capabilities—adding Gilbert's industrial and specialty construction experience and bolstering BIM, data center expertise, and materials procurement power.

Sterling Infrastructure, Inc. (NasdaqGS: STRL) acquired Concrete Construction Services of Arizona L.L.C. (CCS) in a tuck-in transaction for a purchase price of $22 million paid in cash and Sterling common stock. CCS, which generates approximately $70 million in annual revenues and provides residential post-tension concrete foundations in the Greater Phoenix area, expands Sterling’s Building Solutions capacity and service offering in Arizona.

Friendly Group, a PE-backed home services platform, has acquired Day & Night Air Conditioning, Heating & Plumbing, a Phoenix-based HVAC and plumbing services company. Day & Night will continue to operate under its existing brand with owner Jeff Martin and GM Mike Littau; the deal expands Friendly Group’s presence in Arizona and is its fourth western-region add-on in the past year.

Synergos, a family of residential construction trade partners, has acquired Brewer Companies — which includes Brewer Enterprises, Ben Franklin Plumbing AZ and Brewer Commercial Services — to deepen production capabilities and improve construction efficiency in the Arizona residential market. The deal strengthens Synergos' integrated subcontracting model to address supply shortages, skilled labor constraints and schedule predictability for homebuilders.

TZP Group LLC, alongside a group of co-investors, acquired Home Brands Group Holdings Inc., the parent company of Re-Bath, the nation’s largest complete bathroom remodeling franchise. The investment will support Re-Bath’s continued franchise expansion, technology and team investments, and efforts to capture additional market share in the growing residential bathroom remodeling market.

Denver-based private equity firm Bow River Capital completed a recapitalization of Progressive Roofing, a Phoenix-headquartered commercial roofing services provider. Progressive's management participated in the transaction, retaining a meaningful ownership stake as Bow River provides capital to support growth and geographic expansion.

Strength Capital Partners has acquired Truesdell Corporation, a Tempe, Arizona–headquartered provider of concrete infrastructure maintenance, repair and safety enhancement services. Terms were not disclosed; Strength will support Truesdell's growth through organic initiatives and a buy-and-build strategy supported by financing from First Merchants Bank, Northcreek Mezzanine and Midwest Mezzanine. Peninsula Capital Partners was the selling investor and D.A. Davidson served as financial advisor to Peninsula and Truesdell.

Huron Capital Partners acquired ACE Asphalt of Arizona and will merge it into its infrastructure services platform, Sunland Asphalt & Construction. The deal expands Sunland's geographic footprint into Texas and Oklahoma and broadens service capabilities (e.g., slurry sealing and chip sealing) while keeping Ace's President Scott Phillips as leader of the Western Division and Sunland CEO Doug DeClusin leading integration.

Detroit-based private equity firm Huron Capital has recapitalized Sunland Asphalt & Construction, a Phoenix-based asphalt producer and paving solutions provider, in partnership with the company’s senior management. Founder and CEO Doug DeClusin will remain in place as Huron seeks to build a new infrastructure services platform, grow Sunland’s geographic footprint and pursue acquisitive growth across commercial and government end markets.

HomeServe USA Corp. has acquired Dukes of Air, LLC, a Mesa, Arizona-based residential HVAC company with approximately 30 employees. The acquisition expands HomeServe's footprint in the Phoenix metro area (its third local HVAC acquisition since 2019) and continues the company's trades growth strategy across the U.S.

Synergos acquired Austin Electric Services LLC, Austin Concrete & Stone LLC and Austin HVAC LLC (collectively "Austin Companies") to expand its family of residential construction trade partners in Arizona and further integrate electrical, concrete and HVAC capabilities for homebuilders. Leadership at the acquired companies remains unchanged and Ernst & Young Capital Advisors acted as exclusive financial advisor to Synergos' parent in the transaction.

National Fire & Safety, a fire protection platform backed by Highview Capital, has acquired RCI Systems, a Tempe, Arizona-based fire sprinkler contractor founded in 1993. RCI will continue to operate under its current name and branding as an add-on to the National Fire & Safety platform to expand the platform’s geographic footprint and service capabilities.