Acquisitions in Arizona in 2021

Loup Logistics Company, a wholly owned subsidiary of Union Pacific, acquired the Precision Components Inc. (PCI Reload) transload facility in Phoenix, Arizona, in a deal completed Dec. 30, 2021. The 100+ acre, rail-served facility (125,000 sq. ft. covered storage; three miles of rail capacity) expands Loup/Union Pacific's transload and storage capacity in the Phoenix market and will continue to serve customers across multiple industries.

Curaleaf Holdings, Inc. agreed to acquire Bloom Dispensaries, a vertically integrated single-state cannabis operator in Arizona, in an all-cash transaction valued at approximately US$211 million. The deal adds four retail dispensaries (Phoenix, Tucson, Peoria, Sedona) plus ~63,500 sq. ft. of adjacent cultivation and processing space in north Phoenix; Curaleaf will pay $51 million cash at close and the remainder via three promissory notes, and Bloom generated estimated 2021 revenue of ~$66 million with EBITDA margins above 40%.

Curaleaf Holdings, Inc. entered into a definitive agreement to acquire Natural Remedy Patient Center, a dispensary in Safford, Arizona, in a cash-and-stock transaction valued at approximately US$13 million. The deal (US$12M cash and US$1M in Curaleaf subordinate voting shares) is expected to close in January 2022 and expands Curaleaf's Arizona retail footprint while enabling a planned relocation to a flagship Scottsdale site.

Diversified Medical Healthcare (DMH), a Greenville, South Carolina-based healthcare holding company, has acquired the ConfirmD mobile app and platform from Buddycheque LLC. ConfirmD is a HIPAA-compliant digital health wallet that helps employers track employee COVID-19 testing and vaccination status and integrates with lab systems to streamline compliance and reporting.

Los Angeles-based private equity firm Vance Street Capital has acquired Plastic Design Corporation (PDC), a Scottsdale, Arizona-based contract manufacturer of micro-molded plastic components for the MedTech and life sciences markets. Founder Mark Kinder will resume as President, and Vance Street intends to leverage PDC's micro-molding and over-molding capabilities to expand its medtech manufacturing platform and serve medical device OEMs and microfluidics customers.

Advent International has acquired a majority stake in Encora, a global digital engineering and software product development services provider. Warburg Pincus, the prior majority shareholder, retains a minority stake; Advent will partner with Encora's management to accelerate global growth, expand capabilities, and pursue targeted M&A.

Enphase Energy completed the acquisition of 365 Pronto, a Scottsdale-based predictive software marketplace that matches cleantech asset owners and installers with on-demand service providers. The purchase integrates 365 Pronto’s two-sided service-dispatch platform into Enphase’s digital offerings to expand service capabilities, access a nationwide supplemental labor pool, and improve customer wait times for solar, battery storage, and EV charging maintenance.

FFL Partners and Two Sigma Impact have acquired majority ownership of Community Medical Services (CMS), a Scottsdale-based provider of medication-assisted treatment for opioid use disorder. The transaction (financial terms undisclosed) transfers majority control from Clearview Capital Fund III and is supported by senior secured financing arranged by Antares to fund CMS' continued growth and expansion across multiple states.

Audax Private Equity completed a strategic growth investment in Integrate (Integrate.com, Inc.), a B2B demand marketing SaaS provider, in December 2021. The undisclosed investment will support Integrate's product development, customer growth, and geographic and vertical expansion for its Demand Acceleration Platform (DAP).

EXL Corporation acquired Clairvoyant, a data, AI and cloud engineering services firm, to strengthen EXL's analytics and cloud capabilities. Clairvoyant — headquartered in Phoenix with more than 550 employees — will join EXL’s Analytics segment to support clients in insurance, healthcare, financial services and retail; the transaction closed in Q4 2021.

Hub International Limited acquired the assets of JP Griffin Companies, LLC (JP Griffin Group), an employee benefits consulting firm headquartered in Scottsdale, Arizona. The acquisition expands Hub’s employee benefits capabilities in the Southwest; financial terms were not disclosed.

Big Brand Tire (Phoenix) acquired three Arizona-based tire and auto service businesses — C&R Tire, S&S Tire & Auto Service Center, and Community Tire Pros & Auto Repair — in a transaction that closed in mid-December 2021. The combined 14-location deal, brokered by FOCUS Investment Banking, expands Big Brand Tire's footprint in the Phoenix area and increases its regional store count.

Kane Infrastructure Services, a portfolio platform of Aterian Investment Partners, acquired Cable Solutions, LLC, a Chandler, Arizona-based provider of structured cabling, fiber optic and inside plant services. The transaction is Kane's first add-on and expands the platform's geographic footprint into the Southwest, strengthening its presence in healthcare, education and other commercial end markets.

Anaheim-based managed services provider The Network Pro has acquired Tucson-based MSP Nextrio. The deal expands The Network Pro’s presence into southern Arizona, transfers Nextrio’s infrastructure and customer portfolio to the buyer, and retains Nextrio’s employees and senior management under the combined organization.

ZXP Technologies, a Houston-based lubricants manufacturer and portfolio company of Milton Street Capital, has acquired Maverick Performance Products to broaden its finished-lubricant offerings and strengthen vertical integration. The deal gives ZXP immediate access to new end markets and private-label programs while improving supply-chain flexibility and growth potential.

Reverence Capital Partners, a private investment firm, has acquired CRS Temporary Housing from GenNx360 Capital Partners. CRS is a tech-enabled provider of temporary housing and relocation solutions for insurance carriers; terms were not disclosed and GenNx360 said the sale represents a portfolio realization from Fund II.

Collectors Universe, the parent company of PSA and other collectibles businesses, has acquired Card Ladder, a sports trading-card valuation and market-data platform. The acquisition adds Card Ladder’s sales data, pricing analytics and predictive pricing technology to Collectors Universe’s suite of services to improve pricing transparency and collector experience.

Mariner Wealth Advisors announced it will acquire Robinson, Tigue, Sponcil Private Wealth Management (RTS), adding approximately $393 million in assets under advisement and establishing Mariner's second office in the Phoenix/Scottsdale metro. RTS will assume the Mariner Wealth Advisors name upon closing on Dec. 10, 2021; Echelon served as financial advisor to RTS.

RESA Power, a portfolio company of Blue Sea Capital, has acquired Priority 1 Power Services, a Phoenix-based electrical testing and maintenance specialist. The add-on expands RESA Power's footprint into the Greater Phoenix / Arizona market and positions Priority 1 to scale with RESA's broader resources; Priority 1 co-owner Glade Swenson and co-owner Brandon Carrasco (who will become General Manager) will remain involved.

WindRose Health Investors completed a recapitalization of StateServ Medical, partnering with the company’s management to provide growth capital and support national expansion. Blue Wolf Capital Partners sold its stake in StateServ following its investment and transformation of the business since 2017; terms were not disclosed.

SNOW, the DTC teeth-whitening brand, has acquired natural oral care brand Klēn Products. Founder Dr. Brian Harris joins SNOW's advisory board as the company expands and elevates its oral care product portfolio with Klēn's natural formulations.

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.

NeoLight LLC, an Arizona State University spinout and Scottsdale-based newborn medical device company, has acquired Phoenix Technology Group LLC (PTG), a provider of ophthalmic imaging devices and a telemedicine platform for retinopathy of prematurity (ROP) screening. The deal expands NeoLight’s product portfolio to include the Phoenix ICON camera systems and the Phoenix CONNECT telemedicine platform and aims to leverage PTG’s global distribution to accelerate adoption of NeoLight’s Skylife neonatal phototherapy products.

New Harbor Capital has completed a majority equity investment in MindPlay Education, a Tucson-based education software company that provides K–12 literacy instruction and professional development for educators. New Harbor cited MindPlay’s product efficacy, strong financial performance, and growth potential and will support scaling the company’s offerings to reach more students and schools nationwide.

Vitec Imaging Solutions, a division of The Vitec Group plc, agreed on 16 November 2021 to acquire Savage Universal Corp, a manufacturer of photographic backgrounds based in the Phoenix area, with the deal expected to close by the end of November 2021. The acquisition brings Savage’s background and backdrop manufacturing capabilities into Vitec’s portfolio of imaging accessories to expand product offerings for professional photographers, content creators and vloggers.

TSG Consumer Partners has signed a definitive agreement to acquire a majority stake in Super Star Car Wash, a family-owned car wash operator headquartered in Phoenix, Arizona. Founder and President Reza Amirrezvani and the management team will remain significant investors and continue to lead the company as TSG supports the business’ planned geographic expansion and membership-driven growth.

TPG Capital, joined by Rory McIlroy's Symphony Ventures, has agreed to make a significant strategic investment in Troon, the Scottsdale-based golf and club management company. Existing investor Leonard Green & Partners will retain a substantial stake; the capital will be used to accelerate Troon's growth and expand its market-leading services globally.

On November 12, 2021, WP Global Partners made a growth investment in Advanced Medical Pricing Solutions (AMPS). AMPS provides claim review and repricing services and healthcare payment-integrity SaaS and tech-enabled solutions for self-insured employers and health plans to lower overall healthcare costs.

GoDaddy Inc. entered into a definitive agreement to acquire Pagely, a leader in Managed WordPress hosting. GoDaddy said it will leverage Pagely’s platform and cloud expertise to build a WooCommerce-focused SaaS offering while Pagely will continue to serve enterprise, public sector and media customers; terms were not disclosed.

Therma Holdings, a Blackstone portfolio company, has acquired Phoenix-based Bel-Aire Mechanical to expand its mechanical and plumbing services footprint in Arizona. The acquisition adds over 400 professionals and broadens Therma's capabilities and geographic reach across mission-critical end markets such as data centers, semiconductors, and biopharma.

Allworth Financial has entered into a partnership agreement to bring Scottsdale-based RG Capital into its RIA platform. The deal expands Allworth's presence in the Greater Phoenix-Scottsdale market and adds RG Capital’s dental-professional-focused advisory practice (approximately $176 million AUM and ~300 clients) to Allworth’s national advisory network.

Savory Fund, the restaurant-focused vehicle managed by Mercato Partners, has invested $20 million in Scottsdale-based Hash Kitchen to form a new growth partnership. The capital will be used to unify operations and aggressively scale the brunch-centric concept across the western United States, with a target of roughly 30 new locations over the next four years; Hash Kitchen's founders will remain involved and Savory representatives will join the board.

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.

Ardurra Group, Inc. has acquired and merged with Ritoch-Powell & Associates, Inc., a multi-disciplined civil engineering firm. RPA will operate as RPA, an Ardurra Group Company, from its offices in Arizona as part of Ardurra's strategy to expand its presence in Arizona and surrounding states; Ardurra is a portfolio company of RTC Partners.

The Vistria Group has acquired BioCare, Inc., a Tempe-based specialty pharmaceutical distributor, specialty pharmacy and pharmaceutical logistics provider. The deal is Vistria’s first investment from its $2.68 billion Fund IV and aims to support BioCare’s growth — both organically and via acquisitions — to expand access to therapies for rare and orphan diseases.

Dallas-based private equity firm Baymark Partners has acquired Brilliance LED, LLC, a Carefree, Arizona manufacturer of LED landscape lamps and fixtures. Brookside Capital Partners provided subordinated debt and an equity co-investment to facilitate the transaction; Brilliance sells over 500 SKUs to more than 200 distributors nationwide.

Small Miracles, a portfolio company of Chicago-based private equity firm Traverse Pointe Partners, has acquired Desert Shadows Montessori, an early education center in the Phoenix area. The add-on expands Small Miracles' footprint in Arizona; financial terms were not disclosed.

Oldcastle APG, a subsidiary of CRH plc, has acquired Pebble Technology International (Pebble Tec) from Graycliff Partners LP. Pebble Tec, based in Scottsdale, Arizona, is a leading maker of branded outdoor living products focused on aggregate swimming pool finishes; Graycliff acquired the company in 2018 and grew its supply network and product portfolio prior to the sale.

GSM Outdoors, a portfolio company of Gridiron Capital, has acquired Gary Yamamoto Custom Baits, the maker of the iconic "Senko" soft-plastic fishing bait. The deal marks GSM Outdoors' entry into the fishing category as an add-on to expand its outdoor products portfolio and leverage GSM's marketing and product-development capabilities to grow the brand.

Loenbro LLC, a Tailwind Capital-backed industrial services platform, has acquired Switch Electric Inc., a Phoenix-based electrical contractor specializing in mission-critical data center construction and maintenance. Switch Electric's founder and CEO John Fleury will remain as president of the Switch Electric subsidiary to lead data center contracting operations nationally; the deal is an add-on acquisition to Loenbro's platform to expand data center electrical capabilities and geographic coverage.

TRC Healthcare has acquired Bula Intelligence, a subscription-based provider of regulatory and legislative tracking for U.S. pharmacies. The acquisition expands TRC's compliance and regulatory coverage for pharmacies and complements its existing continuing-education and advisory offerings.

Service Champions Group, a portfolio company of Odyssey Investment Partners, has acquired two Phoenix-metro HVAC businesses: Howard Air and Scottsdale Air Heating & Cooling. The add-on deals expand Service Champions' footprint and capabilities in the southwestern U.S., bringing established residential and light-commercial HVAC operations and experienced leadership into its platform.

Tucows, through its Ting Internet subsidiary, signed a definitive agreement to acquire Simply Bits, a fixed wireless and small fiber internet provider headquartered in Tucson, Arizona. The deal adds ~4,500 customers and 1,100 square miles of fixed wireless network to Ting's footprint, accelerates entry into Southern Arizona, and will retain Simply Bits employees and senior management; the transaction was expected to close in Q4 2021 subject to customary approvals.

Minneapolis-based Berger Financial Group acquired Dane Holdings, Inc., a Scottsdale and Sun City West, Arizona tax and financial consulting firm. The deal brings Dane's two Arizona offices and employees into Berger (which will rebrand the locations) and expands Berger's geographic footprint and in-house tax capabilities, raising Berger's total client assets to about $1.5 billion.

Stonecourt Capital announced a $775 million transaction with Arizona-based Moon Valley Nurseries to provide capital and strategic support for accelerated growth. Funds managed by the Credit Group of Ares Management are providing financing; Stonecourt will partner with founder and CEO Les Blake and the management team to pursue acquisitions, open additional retail locations, and expand the company’s geographic footprint.

Waterlogic Americas has acquired H2O Joe, a Tucson-based commercial point-of-use (POU) water rental and service business founded by Joe Cristiani in 2008. The deal expands Waterlogic's presence and density in Southern Arizona and marks another add-on in Waterlogic Americas' 2021 acquisition program.

Simplicity Group acquired Independent Planners Group (IPG), a Scottsdale-based independent insurance wholesaler, marking IPG as the 30th company to join Simplicity's partnership. As part of the deal, founders Mike Kelley and Brian Kelley join as partners, and IPG will gain access to Simplicity’s sales, marketing and distribution resources to support advisors with life insurance, annuities and long-term care solutions.

Kinderhook Industries completed a recapitalization of Coleman Powersports in partnership with the company's management team. The transaction will support Coleman's growth and distribution expansion while founder and CEO Rich Godfrey remains in place; financing was provided by Twin Brook Capital Partners.

Valley National Bancorp has acquired Arizona-based Dudley Ventures and its affiliates (DV Community Investment, DV Fund Advisors and Dudley Ventures Advisory Services). The acquisition brings Dudley’s tax-credit investment, structuring and syndication expertise into Valley’s commercial real estate and community development capabilities to support investments in economically distressed communities nationwide.

Traditions Health, a national hospice and home health provider and portfolio company of Dorilton, has acquired Family Comfort Hospice, adding a Scottsdale location and strengthening Traditions' footprint in Maricopa County, Arizona. The deal expands Traditions' local presence alongside its existing Mesa and Sun City operations and brings Family Comfort's employees and patients into the Traditions network.