Acquisitions in Arizona in 2019

NSC Technologies has acquired Tucson- and Phoenix-based staffing firm Staff Matters, Inc. The add-on expands NSC's presence in the Western U.S., particularly Arizona, and brings Staff Matters' technical, professional and light-industrial staffing capabilities to NSC's platform (which is PE-backed by White Wolf Capital).

3SI Security Systems has acquired CovertTrack, an Arizona-based developer of GPS tracking and covert surveillance equipment and services for law enforcement. The acquisition strengthens 3SI’s law enforcement division by adding CovertTrack’s technical surveillance products, customer relationships, and engineering capabilities to 3SI’s asset-protection and GPS tracking offerings.

Nielsen-Kellerman Co., a Clearview Capital-backed portfolio company, has completed the add-on acquisition of Ambient Weather, a Chandler, Arizona-based designer and marketer of weather stations and a cloud-based weather platform. The deal (closed December 6, 2019) adds fixed weather station hardware and a feature-rich cloud dashboard (API, IFTTT, Amazon Alexa and Google Home integrations) to NK's Kestrel instrument product suite to expand product capabilities and address both consumer and professional markets.

Kriya Capital LLC, through its flagship RCM platform Innoval Global Solutions, LLC, acquired Medstat Accounts Receivable Management, Inc., a Mesa, Arizona-based medical revenue cycle management firm, effective December 3, 2019. The deal expands Kriya/Innoval's healthcare RCM footprint in Arizona and nearby markets; founder Marilynn Peters will remain as a consultant and operational leadership will continue under Kelly Peters. The acquisition was financed with Kriya Capital internal accruals and standing credit facilities.

Valesco Fund II completed a majority buyout and control recapitalization of Express Home Services, LLC ("Express Flooring"), a Phoenix-based regional provider of residential and commercial flooring solutions. Co-investors on the transaction included Brookside Mezzanine Partners (providing subordinated debt and an equity co-investment), HighGrove Companies, Longhouse Partners and Express management; senior debt was provided by a bank investor in Valesco Fund II to support growth and geographic expansion.

Lock Trust, Inc. acquired Phoenix-based video platform Advisor TLC to integrate One-Click Video marketing capabilities into its payments and banking technology. The acquisition is intended to add automated video marketing within Lock Trust’s payment engine to drive growth in the small-to-medium merchant market; Advisor TLC co-founder Andrew Spaulding joins the Lock Trust team.

Huron Capital-backed Pueblo Mechanical & Controls (an ExecFactor platform) acquired Niemeyer Brothers Plumbing, a full-service commercial plumbing provider in the greater Phoenix area. The add-on expands Pueblo's service offering by adding plumbing as a new service line; financial terms were not disclosed and Niemeyer leadership will remain in place.

All Safe Global (ASG), a portfolio company of Capital Resource Partners, acquired Thunderbird Cylinder of Phoenix, Arizona. The acquisition expands ASG's presence in the western United States and adds scale and capabilities toward building a national network of cylinder requalification centers to serve welding, industrial, beverage, propane and life-safety markets.

Hunt Valve Company, a portfolio company of May River Capital, has completed the acquisition of Pima Valve, a Chandler, Arizona-based supplier of severe-duty bronze marine valves. The add-on expands Hunt Valve's product offering and access to U.S. Navy and commercial shipyards, supporting the company's role in the Navy supply chain.

Traverse Pointe Partners, a Chicago-based private equity firm, acquired Small Miracles, a multi-location daycare and early education provider operating 10 centers across Arizona. Traverse said it will partner with Small Miracles' existing management to support organic growth and add-on acquisitions to expand the company's geographic footprint; financial terms were not disclosed.

Kingsbridge Holdings LLC has acquired Technology Finance Corporation (TFC), a Scottsdale-based provider of IT equipment and software leasing and financing for small and mid-sized businesses. The deal, terms undisclosed, expands Kingsbridge's leasing platform and capabilities in the SMB IT leasing and vendor finance channels; Kingsbridge is majority-owned by private equity firm TZP Group.

Pritzker Family Business Interests, advised by The Pritzker Organization, participated in the first closing of Systems Oncology's Series B financing. The growth capital will fund discovery research and pre-clinical development of Systems Oncology's AI-driven cancer therapeutics platform, and TPO will take a board seat.

GI Alliance announced a partnership with Arizona Digestive Health (ADH), bringing ADH into the GI Alliance platform while ADH retains clinical independence. Waud Capital Partners invested equity alongside existing GI Alliance physician partners to support the transaction, and GSO provided financing; Nexus Health Capital acted as ADH's advisor.

Repay Holdings Corporation (NASDAQ: RPAY) acquired APS Payments, a Mesa, Arizona-based B2B integrated payments provider, for $60 million (with $30 million paid at closing and up to $30 million in performance-based earnouts). The deal expands Repay's presence in the B2B payments vertical, adds ERP integrations and technology capabilities, and is expected to be immediately accretive to earnings.

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.

CenterGate Capital has made an investment to acquire Naumann/Hobbs Material Handling, a Phoenix-based material handling equipment and service platform. Stellus Capital Management provided senior debt financing to support the transaction; the company was previously held by HCI Equity Partners and will use CenterGate's backing to expand its aftermarket service, parts platform and territorial reach across the Southwest.

Hahn Systems, a U.S. wholesale distributor and subsidiary of French family group Descours & Cabaud, has acquired the construction division of American Machinery Works, Inc., which includes AMW Construction Supply, ProFast Supply, and King Fasteners. The acquisition expands D&C/Hahn’s footprint in the U.S. construction and industrial supply market while the acquired businesses will continue to operate under their current names.

Dental Intelligence, a Pleasant Grove, Utah-based dental practice analytics and workflow automation software provider, has acquired LocalMed, a real-time online appointment scheduling platform serving dental practices. The deal was completed prior to Dental Intelligence's $34 million Series A minority investment from K1 Investment Management, a portion of which was used to support the acquisition and further product development and go-to-market expansion.

EyeCare Partners LLC completed the acquisition of Nationwide Vision, a Chandler, Arizona-headquartered operator of 89 optometry offices across Arizona and Florida. The deal adds over 780 employees and expands EyeCare Partners' presence in the fast-growing Arizona and Florida markets, enhancing its managed vision plan capabilities and retail eyewear offerings.

Swander Pace Capital acquired Café Valley, a leading wholesale bakery with production facilities in Phoenix, AZ and Marion, IN, to expand its consumer food portfolio. Stellus Capital Management provided senior debt financing and an equity co-investment to support the transaction; Café Valley's existing CEO Brian Owens will remain in place.

Reverence Capital Partners agreed to buy Advisor Group, Inc. from Lightyear Capital and the Public Sector Pension Investment Board (PSP Investments) in a deal announced May 2019 and expected to close in Q3 2019. Lightyear and PSP will retain minority stakes and Advisor Group’s existing management (Jamie Price as CEO) will remain in place as the firm continues to grow its network of financial advisors and assets under administration.

Signet LLC has acquired Arizona-based Roswell Bookbinding to expand its graphic arts/post-press capabilities and extend its footprint into the Southwest. Signet will retain Roswell’s brand and team, including president Mike Roswell, and add specialized restoration, prototype and luxury packaging capabilities to its portfolio.

Warburg Pincus has signed a definitive agreement to acquire a majority interest in WebPT from Battery Ventures. The investment will support WebPT's product innovation and accelerate scaling of its rehab therapy SaaS platform to expand access and grow the business.

Alera Group, a national insurance brokerage and wealth management firm, has acquired Benefit Commerce Group, an employee benefits consulting firm based in Scottsdale, Arizona. Benefit Commerce Group will continue operating under its name as an Alera Group company; terms were not disclosed. The acquisition expands Alera's employee benefits consulting capabilities and strengthens its national footprint.

Aterian Investment Partners has acquired Bright International Corporation, the largest U.S. producer of hair bleach products, headquartered in Coolidge, Arizona. Aterian said it will provide capital and operational resources to expand Bright's R&D, manufacturing and product offerings and intends to use the company as a platform for further investments in the consumer, health & beauty and personal care sectors.

An affiliate of Warburg Pincus committed approximately $200 million to Indecomm Digital Services, a Scottsdale-headquartered product engineering and digital experience services company. The growth investment will support Indecomm's global expansion, strengthen R&D capabilities, and accelerate organic and inorganic growth.

Shermco Industries, a majority-owned portfolio company of Gryphon Investors, has acquired Southwest Energy Systems, a NETA-accredited electrical testing and engineering services firm based in Phoenix, Arizona. The acquisition expands Shermco's geographic footprint in the Southwestern U.S. and broadens its electrical testing, commissioning, and maintenance capabilities.

Epiphany Dermatology announced a partnership with Cochise Dermatology, bringing the Sierra Vista-based practice and its staff into Epiphany’s platform to expand dermatology services in southeast Arizona. The move adds local providers and support resources (operations, billing, HR, IT, marketing and compliance) to improve access to medical, surgical and cosmetic dermatologic care in the region.

Huron Capital-backed Pueblo Mechanical & Controls (the ExecFactor platform) has acquired Innovative Mechanical Systems, a Phoenix-based commercial HVAC installer and service provider. The undisclosed add-on deal expands Pueblo's service offerings and geographic reach in the Phoenix market and adds experienced technicians and preventative maintenance capabilities to the platform.

AVI-SPL, a portfolio company of H.I.G. Capital, has acquired Digital Video Networks (DVN), a Phoenix-based audiovisual systems integrator with four Southwest U.S. locations. The acquisition expands AVI-SPL’s service footprint and capabilities in the Southwestern U.S., giving DVN customers access to AVI-SPL’s global delivery network and managed services.

Octo, a Reston, Virginia-based provider of federal technology solutions and an Arlington Capital portfolio company, has acquired Connexta, a Phoenix, Arizona-based open source software and secure discovery solutions provider. The deal (which adds roughly 130 employees) expands Octo's open-source development, cloud engineering, geospatial intelligence (GEOINT), data interoperability and C4ISR capabilities and broadens its footprint across the Intelligence Community, Department of Defense and allied partners.

H.I.G. Growth Partners’ portfolio company CDI Technologies has merged with Troxell Communications to form Troxell-CDI, a combined education technology solutions provider serving K‑12 and higher education across North America. The combination brings together a broader product portfolio (500+ vendors) and over 175 sales professionals to expand scale, capabilities and geographic reach across the education market.

Global investment firm The Carlyle Group has completed its purchase of StandardAero from Veritas Capital. StandardAero is a global provider of engine and airframe maintenance, repair and overhaul (MRO) services with more than 6,000 employees across multiple continents; Carlyle said it will partner with StandardAero’s management to support the company’s continued growth and industry leadership.

Argos Health, a Dallas-based revenue cycle outsourcing provider backed by NaviMed Capital, has acquired Caid Solutions of Glendale, Arizona. The acquisition adds out-of-state Medicaid provider enrollment, billing, and collections capabilities — services Caid provides for more than 140 hospitals — and will operate with Caid's existing operational team in place.

The Halifax Group completed a majority investment in StrataTech Education Group, a Phoenix-based operator of post-secondary vocational schools focused on welding and HVACR training. Five Points Capital provided a unitranche debt facility to support the acquisition; StrataTech operates multiple campuses and serves roughly 3,200 students across its Tulsa Welding School and The Refrigeration School brands.

Xpressdocs Partners, Ltd., a Texas-based provider of tech-enabled direct marketing solutions and a Falcata Capital portfolio company, has acquired Amazingmail, an Arizona-based direct mail solutions provider. Amazingmail will operate as a 100% owned subsidiary in Phoenix with its current management team remaining in place; Woodbridge International served as exclusive financial advisor to Amazingmail.

San Francisco-based private equity firm Serent Capital has acquired The Professional Companies (TPC), a Phoenix-based provider of home healthcare benefits management. The investment will support TPC's service delivery and technology investments and expand its geographic footprint while Brian Sassi joins as CEO.

Arreva, a provider of cloud-based fundraising and donor relationship management software, has acquired Heritage Designs, the Phoenix-based developer of MatchMaker FundRaising software. Heritage Designs' founder Diana Hoyt and her team will join Arreva and be based in Arreva's Phoenix office; terms were not disclosed.

Huron Capital-backed Pueblo Mechanical & Controls has acquired the Arizona operations of Denver-based Westover Corporation, expanding Pueblo’s HVAC controls capabilities and technician capacity in the Phoenix market. The transaction is the fourth add-on for Pueblo's ExecFactor platform as the company continues a buy-and-build strategy in the Southwestern U.S.; financial terms were not disclosed.

St. Cloud Capital, a Los Angeles-based private investment firm, announced a growth capital investment in AleraCare Holdings, LLC, a combined provider of specialty pharmacy, home infusion and ambulatory infusion services (MedicoRx, Vasco Infusion and VascoRx). The financing refinanced existing senior debt, supported a new ABL facility, and will fund capital investments to expand the combined company's capabilities and geographic presence across the western United States.

Trivest Partners has signed an agreement to acquire and develop a portfolio of 75 Massage Envy franchise locations, combining purchases of existing franchised units and new development. Trivest is partnering with multi-unit franchisee National Envy Development (Todd Recknagel and Kristi Mailloux) and industry executive Robert Fish to operate and expand the portfolio across multiple U.S. markets.

Keystone Capital portfolio company CONSOR Engineers has acquired Structural Grace, an Arizona-based structural engineering firm specializing in bridge and transit projects. The acquisition expands CONSOR's presence in the Western United States (including Phoenix and Tucson) and adds structural design, construction management, inspection, and staking capabilities to support transportation projects. Terms were not disclosed.

Marsh & McLennan Agency LLC (MMA) has acquired Phoenix-based Lovitt & Touché, one of Arizona’s largest independent insurance agencies; terms were not disclosed. The acquisition adds 181 colleagues across Phoenix, Tucson and Las Vegas and Lovitt & Touché will operate as a Marsh & McLennan Agency company with Charlie Touché leading MMA’s Arizona operations.

Transworld Systems Inc. (TSI) agreed to acquire Altisource Portfolio Solutions S.A.'s Financial Services business, including Nationwide Credit, Inc. (NCI), for $44 million. The deal (a carve-out/divestiture) expands TSI's accounts receivable management and customer-relationship-management capabilities and grows its global operations (U.S., India, Philippines), adding approximately 2,300 employees.

SNH Capital Partners acquired Universal Background Screening and merged it with its existing portfolio company PeopleFacts to create a combined national background-screening platform operating under the Universal brand. The transaction (financial terms undisclosed) is supported by financing from WhiteHorse Capital (H.I.G. Capital affiliate) and aims to scale operations, expand product capabilities and accelerate national growth.

Investis Digital has acquired Vertical Measures, a Phoenix-based digital marketing agency, as a bolt-on to expand its content, SEO, paid-search and conversion optimisation capabilities. Vertical Measures, founded in 2005 and employing more than 60 staff, will strengthen Investis Digital's Connected Content™ offering and broadens resources available to clients following Investis Digital's partnership with ECI in 2014.

Questco has acquired National Payroll Specialists (NPS), a Phoenix-area provider of outsourced HR and payroll services for small- and medium-sized businesses. The deal is Questco’s second add-on in the PEO space and expands the company’s presence into Arizona while diversifying its work-site employee base and accelerating NPS’s growth through Questco’s technology and resources.

TriArtisan Capital Advisors LLC and Paulson & Co. Inc. completed the acquisition of casual-dining chain P.F. Chang's China Bistro Inc. from Centerbridge Partners L.P. The buyers said the partnership will provide financial strength and support a growth strategy to scale dine-in and off-premises channels domestically and internationally.

NPG/BERKS Group announced the acquisition of the International Sports Sciences Association (ISSA), a leading provider of online fitness education and certification. ISSA offers multiple fitness certifications and has certified over 200,000 trainers globally; the deal was announced in March 2019 with BERKS highlighting ISSA's technology-driven distance education capabilities.

Abry Partners, a Boston-based private equity firm, completed a recapitalization of Phoenix-based Anju Software to provide capital for product enhancement and global expansion. Anju Software is a provider of integrated software and data solutions for the life sciences industry and will partner with Abry to accelerate growth and pursue market leadership.