Acquisitions in Nevada in 2022

Qualus Corporation has acquired Tri Sage Consulting, a power engineering and project management firm focused on high-voltage grid interconnection and renewable projects in the western United States. The acquisition expands Qualus' western U.S. footprint and renewables capability, combining Tri Sage's technical resources with Qualus' planning, design, and field services to support grid modernization and the energy transition.

Funds affiliated with DigitalBridge and an affiliate of IFM Investors completed a take-private acquisition of Switch, Inc. for $34.25 per share, valuing the transaction at approximately $11 billion including assumed debt. The buyers said the transaction will support scaling Switch's data center and digital infrastructure operations domestically and internationally.

Zetwerk Manufacturing has acquired U.S.-based Unimacts, a contract manufacturing and supply-chain services provider focused on renewable energy and industrial products. The deal strengthens Zetwerk's presence in North America and provides immediate access to Unimacts' solar and wind customers, expanded logistics and near-customer warehousing capabilities.

Wealthspire Advisors LLC (an NFP company) signed an agreement to acquire Sage Financial Advisors, Inc., a Nevada-based registered investment advisor that manages approximately $194 million in assets and maintains an office in Reno. The deal expands Wealthspire’s presence in the western U.S.; the transaction is expected to close in Q4 2022, subject to customary approvals.

Montgomery DME, a portfolio company of Incline Equity Partners, acquired Advantage Home Medical Services (AHMS), a North Las Vegas-based provider of durable medical equipment for hospice patients. The transaction, advised by Generational Equity, closed on November 22, 2022 and expands Montgomery DME's hospice-focused DME footprint and capabilities.

United Rentals agreed to acquire the assets of family-owned Ahern Rentals, Inc. for approximately $2.0 billion in cash. The acquisition expands United Rentals' branch footprint, adds over 60,000 rental assets and ~2,100 employees, and is expected to be accretive to earnings while delivering cost and revenue synergies.

Arizona-based Empire Southwest has agreed to acquire Nevada-based Cashman Equipment, combining two third-generation Caterpillar dealers to strengthen service and support across the U.S. Southwest. The deal, expected to close in December 2022, brings together over 2,300 Empire employees and more than 1,100 Cashman employees to expand capabilities across construction, mining, energy and industrial end markets.

NV5 Global, Inc. (NV5) has acquired Intrepid Engineering LLC, a Las Vegas–based provider of mechanical, electrical, and plumbing (MEP) systems design, in a cash-and-stock transaction. The acquisition expands NV5's MEP capabilities and client base in the U.S. Southwest, adding expertise and clients in healthcare, education and retail sectors and is expected to be immediately accretive to NV5's earnings.

Synergos Companies acquired Focus Companies on October 31, 2022, expanding its vertically coordinated construction services platform into the Las Vegas market. Focus Companies — the largest construction company in Las Vegas — brings capabilities in concrete, plumbing, electric, framing and fire protection to accelerate Synergos’ ‘super supplier’ model and broaden product diversity for builder and developer customers.

Outdoor Living Supply (OLS), a Trilantic North America-backed distribution platform for outdoor living products, has acquired Bedrock Landscape Supply, an independent distributor of natural stone, pavers, bulk materials and landscape supplies serving the Las Vegas and Henderson, Nevada markets. The family-owned company founded by Mark Wilson (2018) will continue to be run by Mark after the acquisition, giving OLS a foothold in southern Nevada as it expands westward.

J.P. Morgan Payments made a strategic growth investment in Sightline Payments to support development of an integrated omnichannel payments solution for resort and online gaming operators. The deal strengthens a partnership to expand Sightline's Play+ cashless and wallet offerings across the gaming, resort, and entertainment ecosystem.

Lexitas, a technology-enabled litigation services provider and portfolio company of funds advised by Apax, has acquired Oasis Reporting Services, a Las Vegas-based court reporting and deposition services firm. The acquisition expands Lexitas' presence in the Western U.S. and enhances its national litigation support footprint.

Light & Wonder, Inc. acquired substantially all of the assets of House Advantage, LLC in a cash transaction to strengthen its systems business with omnichannel player loyalty and marketing solutions. House Advantage founder and CEO Jon Wolfe will join Light & Wonder as SVP and President, Global Systems and Services, and approximately 20 House Advantage employees will transfer to Light & Wonder.

Curaleaf Holdings, Inc. has completed the acquisition of Tryke Companies (dba Reef Dispensaries), a vertically integrated multi-state cannabis operator, expanding Curaleaf's cultivation and retail footprint across Arizona, Nevada and Utah. The transaction included cash and Curaleaf subordinate voting shares with total consideration of approximately US$181 million plus contingent shares tied to 2022 EBITDA targets, and is expected to be immediately accretive to Curaleaf's EBITDA and free cash flow.

Bishop Lifting Products, a portfolio company of Altamont Capital Partners, has completed the acquisition of Silver State Wire Rope and Rigging, headquartered in Las Vegas, Nevada. The deal is an add-on acquisition that expands Bishop's national footprint in lifting and rigging products and services, adding to its 28 locations and marking the company's ninth acquisition since 2012.

Sky Quarry Inc. has acquired Foreland Refining Corporation, including the Eagle Springs refinery near Ely, Nevada. The purchase gives Sky Quarry a refinery asset to vertically integrate its process for producing sustainable diesel and other petroleum products from waste asphalt shingles and heavy oil feedstocks, and is expected to be immediately accretive to cash flow and EBITDA.

Texada Software acquired LogiMove (CheckMobile Global), a no-code/low-code mobile application provider for field and service operations in the equipment rental and dealer industry. The acquisition adds LogiMove's mobile-first, configurable field workflows to Texada's SaaS platform, expanding Texada's capabilities for inspections, service and field operations integration.

P3 Health Partners-Nevada, LLC, a regional operating subsidiary of P3 Health Partners (NASDAQ: PIII), has acquired Pahrump Cardiology & Family Practice, a multi-specialty cardiology and primary care clinic in Pahrump, Nevada. The acquisition adds approximately 375 patient lives and 12 providers to P3's Nevada network, expanding its footprint and local access to cardiology and multi-specialty care in Nye County.

Endeavour Silver Corp. acquired the Bruner Gold Project from Canamex Gold Corp. for US$10 million in cash. The purchase transfers 100% of the Bruner project — including mineral claims, mining rights, property assets, water rights and permits — adding an exploration-stage gold asset in Nye County, Nevada to Endeavour’s project pipeline to support its growth plans.

Godspeed Capital has invested in TSK Architects, which will join the Huckabee Architects platform as an add-on to expand Huckabee's geographic reach into Nevada, Arizona and California and to add Federal, State and Local Government capabilities. TSK's leadership will remain in place and will co-invest; financial terms were not disclosed.

ClaimLogiq, a payment-integrity technology provider headquartered in Mount Pleasant, South Carolina, acquired SyTrue, a pioneer in healthcare natural language processing (NLP). The acquisition integrates SyTrue’s NLP OS into ClaimLogiq’s payment integrity platform to expand capabilities for processing unstructured medical data across payment integrity, risk adjustment and medical record review use cases.

X1 Esports and Entertainment (CSE:XONE) has entered into an asset purchase agreement to acquire ShiftRLE, a Las Vegas–based online news outlet focused on the Rocket League esports community. The deal pays US$50,000 in cash, 333,333 common shares of X1 and a revenue-based earnout, and is intended to expand X1's video game media portfolio and reach into Gen Z audiences.

Tower Arch Capital has completed a recapitalization investment in Intelligent Technical Solutions (ITS), a Las Vegas–based managed IT services provider. The deal—financed by Deerpath Capital and advised by FOCUS Investment Banking for ITS—will support ITS's geographic expansion, capability enhancements, and future add-on acquisitions while retaining the founding management team.

Lithia Motors, Inc. has acquired Henderson Hyundai Superstore/Genesis from owner Frank Maione. The Nevada dealership will continue operating as Henderson Hyundai Superstore and will expand Lithia's presence in the Las Vegas metro area; DCG Acquisitions (Dave Cantin Group) represented both the seller and buyer in the transaction.

An affiliate of Peak Rock Capital made a strategic growth investment in Passport Technology to provide capital and strategic support for the payments- and gaming-focused technology provider. The investment will help Passport expand its customer base, develop new technology-enabled products and services, and pursue additional strategic partnerships as it scales across additional end markets.

Atlantic Street Capital acquired the assets of CyberGuard Compliance, LLP and Elite Consulting Solutions LLC (collectively “CyberGuard”) to build a tech-enabled IT compliance and cybersecurity services platform. The transaction, completed June 13, 2022, will support accelerated growth, expanded service capabilities, and an M&A strategy to broaden CyberGuard’s offerings and client reach.

Antelope, an omni-channel pet wellness platform backed by Alpine Investors, has acquired Diggin' Your Dog and Super Snouts, a supplier of pet CBD supplements, health products and treats. Diggin' Your Dog and Super Snouts will continue to operate under its brand with Christy Love remaining as CEO, and Antelope/Alpine will support growth through omni-channel marketing, infrastructure and investment.

saas.group announced the acquisition of Keyword.com, a SaaS provider of keyword rank tracking and competitor insights for SEO agencies and in-house SEO teams. saas.group said it will invest in product development and client experience as Keyword.com joins its family of SaaS brands; founder Kevin Zhou commented on the partnership and next chapter for the business.

The Riverside Company has added DroneCurriculum.net to its iCEV platform as an add-on acquisition. DroneCurriculum.net, a Reno, Nevada–based developer of K-12 drone curriculum and FAA commercial drone pilot certification prep, will expand iCEV’s STEM and drone course offerings and support workforce-aligned programming.

Bragg Gaming Group completed the acquisition of Spin Games LLC in a cash-and-stock transaction valued at approximately USD 30 million. The purchase gives Bragg U.S. iGaming licenses, an RGS and content portfolio, and operator relationships to accelerate its North American expansion.

D.R. Horton, through its subsidiary Potable Merger Sub, completed a cash tender offer to acquire Vidler Water Resources, Inc. at $15.75 per share, acquiring 14,229,878 shares (approximately 77.8% of outstanding shares) and subsequently merging Vidler into the buyer so that Vidler became a wholly owned subsidiary. Following the merger, all remaining Vidler shares were converted into the right to receive $15.75 per share and Vidler’s common stock was delisted from Nasdaq.

BestLife Holdings announced the formation of a multi-brand holding company backing the age-management provider Cenegenics via a combined equity round of more than $50 million, including over $12 million of growth capital for Cenegenics. Cenegenics will serve as BestLife's inaugural offering as the company invests in expanding its clinical, telemedicine and product capabilities to scale preventative and performance health services.

Elvisridge Capital, a private investment firm, acquired Glacier Outdoor, Inc. (dba Glacier Glove), a Reno-based manufacturer and distributor of specialty outdoor gloves and related apparel. Glacier Glove will join Elvisridge's fishing-focused portfolio to expand distribution and accelerate product development.

Jushi Holdings Inc. completed the acquisition of Nevada-based NuLeaf, Inc., purchasing its retail dispensaries, a 27,000 sq. ft. cultivation facility and a 13,000 sq. ft. processing facility for up to US$53.6 million. The deal expands Jushi's Nevada retail footprint to four dispensaries and strengthens its cultivation and manufacturing capabilities in the state.

Raleigh-based Verizon authorized retailer Victra has acquired Go Wireless, bringing Go Wireless' store staff into Victra employment while retaining Go Wireless' Las Vegas-based back-office team to support integration. The acquisition expands Victra's retail footprint to nearly 1,600 locations nationwide and strengthens its field and store operations.

Vidya Brands Group acquired BriteVision, the custom printed paper coffee cup sleeve division of Mesmerize Media LLC, in a divestiture completed by an affiliate of The Beekman Group. BriteVision, founded in 1999 and based in Reno, Nevada, produces custom printed cup sleeves for the disposable foodservice packaging industry and will operate within Vidya's family of packaging and converting brands to expand Vidya's product capabilities and market coverage.

Utah-based Jerry Seiner Dealerships has acquired Earnhardt Buick GMC and Earnhardt Mazda in Las Vegas from Earnhardt Auto Centers. The deal represents Earnhardt Auto Centers divesting two Las Vegas stores so it can focus on its core Arizona operations while Jerry Seiner expands geographically into the Las Vegas market.

Securitize, a digital-asset securities firm, has acquired Pacific Stock Transfer, a full-service stock transfer agency headquartered in Las Vegas. The acquisition expands Securitize's transfer-agent capacity and client base—bringing Pacific Stock Transfer's issuer relationships and 1.2 million shareholder accounts onto Securitize's blockchain-enabled share issuance and management platform; the transaction closed on February 16.

eLearning Brothers, a learning solutions company based in American Fork, Utah, has acquired Rehearsal, a Reno-based video practice and coaching platform that uses AI to deliver feedback and scoring. The acquisition expands eLearning Brothers’ video-based learning and coaching capabilities—strengthening its sales enablement and remote training offerings.

Parthenon Capital has made a growth investment in BirchStreet Systems alongside existing investor Serent Capital; terms were not disclosed. The capital will accelerate BirchStreet’s growth (organic and M&A) as Brendan Reidy assumes the role of CEO to lead the company’s next phase of expansion.

CAVU Human Capital Management (CAVU HCM) has acquired Las Vegas-based Silver State Payroll to expand its national footprint and establish an office in the Pacific time zone. The Silver State Payroll staff will join CAVU HCM and clients will gain access to an expanded suite of payroll and HR products with minimal service disruption.

Miner Ltd., the dock and door division of OnPoint Group, has acquired C&M Garage Doors, a loading dock and commercial/residential door sales and service company headquartered in Henderson, Nevada. The deal expands Miner's service footprint into the Henderson–Las Vegas industrial market and adds Nevada to its geographic coverage while bringing C&M's installation, sales and service capabilities into the Miner/OnPoint platform.