Acquisitions in Arizona in 2020

Mercer Global Advisors (Mercer Advisors) has acquired Rowland Carmichael Advisors, Inc. (RCA), a Scottsdale-based wealth management and family office firm. The deal (closed Dec 31, 2020) brings RCA’s nine-person team and its retirement-plan capability into Mercer’s existing Scottsdale office to expand Mercer’s Arizona presence and augment its ERISA/retirement plan business.

DaySmart Software has acquired Scottsdale, Arizona-based AppointmentPlus, an online appointment scheduling and dock scheduling provider. AppointmentPlus CEO Bob La Loggia and the company's 100+ employees will join DaySmart as the deal expands DaySmart's cloud scheduling capabilities and extends its reach into new verticals including supply chain, healthcare and automotive.

HomeServe USA acquired Sterling Air Services, a Mesa, Arizona-based HVAC and plumbing services provider, to expand its presence in the Phoenix East Valley. Sterling — founded by Joel and Anastasia Harris and operating with a ~12-technician team serving residential customers — will join HomeServe's regional operations to broaden service capacity and local coverage.

Cincinnati-based RelaDyne LLC, a portfolio company of Audax Private Equity, has acquired New West Oil Company, an Arizona-based lubricant and commercial fuels distributor with an environmental services division. The deal marks RelaDyne’s first expansion into Arizona and Nevada and adds New West’s team, customer relationships, and used-oil/environmental service capabilities to RelaDyne’s national platform.

3Pillar Global, a Fairfax, Virginia-based software product development firm and portfolio company of CIP Capital, has acquired Tempe, Arizona-based Tiempo Development in an add-on transaction. The deal expands 3Pillar's nearshore delivery footprint and capabilities—including data science, analytics, IoT, and cloud services—and brings more than 400 Tiempo engineers into the combined organization.

Delic Holdings Inc. (DELIC) entered into an agreement to acquire all membership interests of Ketamine Infusion Centers LLC (KIC), an operator of two ketamine infusion clinics in Phoenix, Arizona and Bakersfield, California. The transaction (structured as a reverse triangular merger) expands DELIC's psychedelic wellness platform by adding physical clinic operations and a team of medical professionals, with consideration primarily issued as DELIC subordinate voting shares and contingent milestone shares.

Gemini Investors completed a majority recapitalization of Action Equipment & Scaffold Company, Inc. and its Colorado division Waco Scaffolding & Equipment Company in December 2020. The transaction brings Gemini as the majority investor to support growth and continuity as CEO Howard Schapira and his family transition ownership while the companies continue to serve industrial, commercial, and municipal customers across Arizona and Colorado.

Destination Pet has completed the acquisition of Exceptional Pets, a five-location pet care operator in the Phoenix, Arizona metropolitan area founded in 2019 by Exceptional Healthcare. The deal expands Destination Pet's footprint into the Phoenix market and adds specialty retail, grooming, boarding and other pet services to its integrated veterinary and pet-care platform.

Zonda (formerly Hanley Wood | Meyers Research), a MidOcean Partners–backed housing data and research firm, has acquired Belfiore Real Estate Consulting, a Phoenix-area residential market research and advisory firm founded by Jim Belfiore. The acquisition expands Zonda's presence in Arizona and strengthens its local housing market data and advisory capabilities for homebuilders and related customers.

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.

Platform Partners LLC, a Houston-based private holding company, completed an investment in E-xact Payments, a payments gateway and processing services provider founded in 1999. Payments executive Rahul Gupta invested alongside Platform and will serve as Chairman while Platform and the company hire senior payments leaders and invest in technology and people to expand E-xact’s service offering.

Executech, a Salt Lake City-based managed IT services provider backed by Evergreen Services Group, has acquired USPCNET, a Phoenix-area MSP. The add-on expands Executech's footprint into the Phoenix market and brings USPCNET employees and clients access to broader technical resources and expanded cybersecurity and cloud capabilities.

LHC Group, Inc. (NASDAQ: LHCG) agreed to purchase East Valley Hospice and East Valley Palliative Care in Mesa, Arizona, with the transaction expected to close January 1, 2021. The acquisition is expected to generate approximately $4.8 million of annualized revenue and expands LHC Group's in-home hospice and palliative capabilities in the Phoenix metro as part of its co-location growth strategy.

AmeriLife Group, LLC acquired Forward Strategies Insurance Brokerage, a Tucson-based insurance marketing firm that focuses on annuities, life insurance, long-term care and hybrid products. The acquisition expands AmeriLife’s agent support, product distribution and technology capabilities to better serve independent agents and the retirement/senior market.

Court Square Capital has completed the acquisition of Veregy, an independent energy services company, from Bow River Capital. Veregy provides energy efficiency, smart building technologies, and infrastructure upgrades for public-sector and commercial clients; Court Square will support the company's continued growth and technology-enabled service expansion.

Olympus Partners has led a growth equity investment in Footprint International Holdco, Inc., a Gilbert, Arizona–based materials science company that makes plant-based, sustainable packaging for major packaged food producers, grocery retailers and QSRs. The capital will support Footprint’s expansion of manufacturing capacity and operations in North America and Europe to meet growing customer demand for recyclable, plant-based packaging alternatives.

Eckerd Connects has merged with Odle Management Group, LLC to expand its workforce development and youth services capabilities. The merger brings Odle’s outreach, enrollment and placement expertise (headquartered in Scottsdale, Arizona) into Eckerd’s national operations, increasing Eckerd Connects' scale across nearly 20 states.

Allworth Financial has entered into a definitive agreement to acquire Pathways Financial Partners of Tucson, Arizona. The deal adds roughly $158 million of assets under management to Allworth, bringing the firm's total AUM to over $9.5 billion and expands Allworth's presence into Arizona; the transaction is expected to close prior to year-end.

Cargill has entered into an agreement to acquire Floratech, a Chandler, Arizona–based maker of natural emollients and botanical derivatives for the beauty and personal care industry. The deal expands Cargill’s Cargill Beauty capabilities by adding Floratech’s specialty ingredient portfolio and R&D/manufacturing expertise to accelerate nature-derived, sustainable solutions for cosmetics customers worldwide.

ARCH Global Precision, a Jordan Company platform, has acquired Morsch Machine, a precision machining firm based in Chandler, Arizona. The acquisition adds 3-, 4- and 5-axis machining, structural adhesive bonded assembly, 3D printing and assembly capabilities to ARCH’s Precision Components segment and expands capacity for mid- to high-volume aerospace, defense and space work.

Valor Global, a Phoenix-based provider of customer care call center solutions, has acquired DRS Services USA, a Scottsdale-based healthcare call center specializing in patient scheduling and healthcare support. The acquisition expands Valor Global’s healthcare customer-experience capabilities and is expected to support the creation of 500 new healthcare jobs in metro-Phoenix over the next 12 months.

GrowGeneration Corp. acquired Hydroponics Depot, Phoenix’s largest indoor and outdoor garden center, marking GrowGen’s entry into Arizona and expanding its retail footprint to 29 stores across 11 states. The acquisition provides GrowGeneration exposure to Arizona’s growing medical and potential recreational cannabis market; Hydroponics Depot reported year-to-date sales in excess of $5 million and ~50% year-over-year growth.

Red Barn Equity Partners, through its special purpose vehicle Red Barn Franchise Holdings LLC (RBFH), made a strategic investment in Dogtopia, acquiring interests from Thomas Franchise Solutions USA LLC and Dogtopia Enterprises LLC. Following the transaction Christopher Kempner (Red Barn) will become Chairman while Neil Gill will remain CEO as Dogtopia pursues further franchise unit growth across the U.S. and Canada.

Monte Nido & Affiliates, a portfolio company of Levine Leichtman Capital Partners, has acquired Rosewood Center for Eating Disorders (Rosewood Ranch, L.P.), an Arizona-based operator of three eating-disorder treatment facilities. The acquisition adds inpatient beds and diabulimia treatment to Monte Nido's continuum of care and expands its geographic footprint into the Southwest.

Wrench Group, a national home services operator based in Marietta, Georgia, acquired Collins Comfort Masters, a Gilbert, Arizona-based HVAC and plumbing services provider. The acquisition expands Wrench Group's footprint in the Phoenix metropolitan area and adds local HVAC, plumbing and drain-cleaning capabilities to its existing Phoenix brands.

Ruby, the Portland-based provider of live virtual receptionist and chat services, has acquired Pure Chat, a Scottsdale-based live website chat and conversational AI provider. The deal integrates Pure Chat's self-chat software and Artibot AI into Ruby's 24/7 customer engagement platform to expand chat capabilities and deliver a seamless omnichannel experience for small businesses.

Altamont Capital Partners made an equity investment in Cornerstone Advisors, a Scottsdale-based provider of advisory services to mid-size banks and credit unions. The founders Scott Sommer and Steve Williams remain as CEO and President, and the capital will support Cornerstone’s investments in employees, data-powered offerings and internal infrastructure to accelerate growth.

Syndigo, a TJC-backed SaaS product information and syndication company, acquired Attribytes, a GS1-certified data pool and business intelligence sales platform, to expand its foodservice capabilities. Attribytes CEO Mike Kovarik will remain with Syndigo as SVP, Foodservice, Healthcare & Automotive, and the deal further integrates Attribytes' data syndication and analytics capabilities into Syndigo's Content Experience Hub.

PharMerica completed the acquisition of OnePoint Patient Care (OPPC), a leading independent hospice pharmacy and PBM provider. OPPC operates 15 pharmacy locations, serves more than 350 hospice programs and manages pharmacy benefits for over 32,000 patients per day; PharMerica said the deal will expand its hospice pharmacy capabilities and accelerate delivery of local same-day dispensing nationwide.

LINQ (EMS LINQ INC) has acquired Colyar Technology Solutions, an Arizona-based provider of school nutrition management software. The deal combines LINQ’s K-12 administrative platform with Colyar’s child nutrition and compliance solutions to expand LINQ’s product capabilities and strengthen its presence with state agencies and school districts.

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.

Terracon has acquired Environmental Planning Group (EPG), a Phoenix-based environmental and landscape architecture consulting firm. The addition of EPG's ~50 employees and regional offices strengthens Terracon's environmental planning, permitting, GIS, and related capabilities across the Southwest and Western United States.

National Fire & Safety, a Highview Capital-backed fire protection platform, has acquired Element Fire Protection LLC, an inspection and service provider based in the greater Phoenix area. Element will be integrated into RCI Systems, a National Fire & Safety subsidiary, expanding the platform's scale and capabilities in Phoenix to support greater service coverage and customer compliance.

Japonesque, a Topspin Consumer Partners portfolio company, has made an investment in MakeUp Eraser, a developer and marketer of sustainable makeup-removal products. The deal will combine MakeUp Eraser's emerging brand with Japonesque's beauty implement expertise to expand the brand's U.S. and international distribution.

Resurgens Technology Partners has made a strategic equity investment in Axosoft, the Phoenix-based maker of the GitKraken DevOps productivity and collaboration suite. The investment will support product enhancements and new DevOps offerings while Wayne Williams joins as Executive Chairman and two former Embarcadero executives (Mike Swindell and James Pitts) will support the company’s growth strategy.

Funds advised by Providence Strategic Growth (PSG), the growth equity affiliate of Providence Equity Partners, have made a growth equity investment in Semarchy to support product innovation and accelerate go-to-market expansion. Terms were not disclosed; the capital will fund Semarchy’s Intelligent Data Hub product development and customer growth initiatives.

Health Management Associates (HMA) has acquired Arizona-based Burns & Associates, Inc., a health policy consulting firm known for Medicaid program design, rate setting, and HCBS expertise. The acquisition brings Burns' analytics and rate-setting capabilities into HMA to expand the firm's depth in publicly funded healthcare policy and program evaluation; terms were not disclosed.

Wrench Group LLC, a national home services operator based in Marietta, Georgia, has acquired All About Water, a Chandler, Arizona-based plumbing and water treatment specialist. The deal expands Wrench Group's footprint and capabilities in the Phoenix metropolitan area and strengthens its residential water treatment and plumbing offerings.

NewSpring Mezzanine, part of NewSpring, has made a mezzanine investment in MicroAge in partnership with Alerion Capital Group. The capital will support MicroAge's next phase of growth as a technology services and managed services provider, enabling investments in services-led capabilities, cloud, security, and remote-work solutions while supporting leadership transition.

Averhealth, with support from Five Arrows Capital Partners, acquired the drug testing services of Treatment Assessment Screening Center (TASC) of Arizona on August 28, 2020. The deal transfers TASC's drug testing operations to Averhealth, ensuring continuity of services for courts and social service agency clients and expanding Averhealth's footprint in Arizona, Texas and Utah.

KICTeam, a proprietary cleaning-consumables platform owned by private investment firm Inverness Graham, has acquired Teknipure, a Mesa, Arizona-based developer and manufacturer of cleanroom contamination-control consumables. The add-on expands KICTeam's addressable markets into biopharmaceuticals, medical devices and advanced manufacturing, and will allow investment in U.S.-based capacity to support increased demand; terms were not disclosed.

ARCH Global Precision, LLC has acquired Cling's Aerospace, LLC, adding Cling's precision machining, tubing and weldment capabilities to ARCH’s Precision Components segment. The acquisition expands ARCH’s aerospace and defense manufacturing capabilities and broadens its footprint in the Phoenix (Tempe/Mesa) area; former owner Doug Cling will remain to run the business post-closing.

Infinedi Partners, a New York-based private equity firm, completed an investment in Cultural Experiences Abroad, LLC (CEA), a Phoenix-headquartered provider of study abroad and internship programs for U.S. university students. The partnership gives CEA additional capital and board support to strengthen health & safety resources and provide financial stability as international education recovers from COVID-19 disruption.

General Microsystems Inc., nVision Networking, Inc., and Extreme Integration merged to create GMI (Global Market Innovators), a women- and minority-owned IT solutions company headquartered in Arizona. The combined business brings together managed services, networking, security, cloud and professional services capabilities to deliver broader IT infrastructure and security offerings for commercial and government customers.

GB Auto Service, a portfolio company of Greenbriar Equity Group, has acquired Sun Devil Auto (doing business as Sun Auto Service outside Phoenix), adding 32 locations and expanding GB Auto's footprint to more than 160 tire and automotive service facilities. The acquisition is an add-on to GB Auto's platform to deepen its presence in the Western U.S.; Capstone Headwaters served as exclusive financial advisor to Sun Devil Auto.

Bison Capital Partners V, LP completed a recapitalization investment in FTR Group Pty Ltd (operator of For The Record and Auscript) to support the company's growth initiatives and product development. The investment will partner with management to expand digital court recording, transcription services, and remote-justice solutions globally.

CORE Industrial Partners, a Chicago-based private equity firm, completed an investment in Arizona Natural Resources (ANR), a Phoenix-based contract manufacturer of personal care products specializing in haircare and skincare. CORE said it will partner with ANR’s management to pursue strategic add-on acquisitions and expand the company’s product offering and geographic presence; ANR operates a 132,000 sq. ft., FDA-registered cGMP facility with 23 production lines.

Quest Products, a Promus Equity Partners portfolio company, has acquired Summit Pharmaceuticals / Alliance Labs, including the Enemeez and DocuSol brands. The deal expands Quest's self-care and OTC product portfolio and aims to grow both the medical and retail businesses domestically and internationally; financial terms were not disclosed.

Small Miracles, a portfolio company of Traverse Pointe Partners, has acquired Outer Limits, a Five‑Star, nationally accredited early education center in Tucson, Arizona. Financial terms were not disclosed; the acquisition is an add‑on to broaden Small Miracles' footprint in Arizona and scale its operations across the region.

Hub International Limited has acquired the assets of The Clements Agency, L.L.C. and its wholly owned subsidiary Flagstaff Insurance, Inc., expanding Hub's footprint in Arizona. The Clements owners (Jack, Jim and Sean Clements) will join Hub Southwest; terms were not disclosed.