Arizona Deal Intelligence - March 2020
This report is prepared as a courtesy to the Arizona business community by Columbia West based on our research and information collected by our firm. Despite our dedicated efforts, occasionally a deal might be missed or appropriate credit not given to legal or financial advisors. Please feel free to contact us if you have information on a transaction that you want to ensure is included and credit attributed to appropriate advisors. Also, feel free to forward to others who may have interest; they can be added to the regular distribution by contacting our office. Our contact information is below.
M&A - Strategic
3/1/2020 Valor IT, Inc., dba Valor Global Services, LLC, acquired ProService Boise. The terms of the transaction were not disclosed. Valor Global provides service desk and information technology managed services to clients worldwide and is based in Scottsdale.
3/2/2020 Insight Enterprises, Inc. (NasdaqGS:NSIT) acquired vNext. The terms of the transaction were not disclosed. Insight provides information technology hardware, software and services solutions and is based in Tempe.
3/2/2020 WillScot Corporation (NasdaqCM:WSC) entered into a definitive merger agreement to acquire Mobile Mini, Inc. (NasdaqGS:MINI) for $1.9 billion in a merger of equals transaction. Mobile Mini provides portable storage and specialty containment solutions and is based in Phoenix. Davis Polk & Wardwell LLP served as legal advisor to Mobile Mini.
3/4/2020 Leslie's Poolmart Inc. acquired QC Ventures LLC, dba Aqua Quip. The terms of the transaction were not disclosed. Leslie's Poolmart operates as a specialty retailer of swimming pool supplies and related products and is based in Phoenix.
3/4/2020 Freerange Stock, LLC acquired ImageFinder. The terms of the transaction were not disclosed. Freerange Stock operates an online advertising revenue-supported photographic community that provides stock photos for commercial and non-commercial use and is based in Tucson.
3/4/2020 Eckerd Connects acquired Odle Management Group, LLC. The terms of the transaction were not disclosed. Odle offers workforce development services, including employment training and community partnership-building and is based in Scottsdale.
3/9/2020 Intermountain Electronics, Inc. acquired BASELAYER Technology, LLC. The terms of the transaction were not disclosed. BASELAYER develops software-defined data centers and is based in Chandler.
3/16/2020 Benefit Commerce Group LLC, an Alera Group company, acquired Fall River Employee Benefits. The terms of the transaction were not disclosed. Benefit Commerce Group provides employee benefit plans, such as health plans, insurance solutions, HSAs, HRAs, FSAs, group life disability, CDHPs, and other employee benefit plans and is based in Scottsdale.
3/18/2020 Modern Corporation agreed to acquire the Western New York operations of Republic Services, Inc. (NYSE:RSG). The terms of the transaction were not disclosed. Republic Services provides non-hazardous solid waste collection, transfer, disposal, recycling, and environmental services and is based in Phoenix.
3/19/2020 Restoration Builders Inc. acquired Roof Angels, LLC. The terms of the transaction were not disclosed. Restoration Builders provides property restoration services to both residential and commercial clients and is based in Phoenix.
Private Placements
3/2/2020 Nikola Corporation announced that it has raised $525.0 million in a round of funding from Fidelity Management & Research Company, ValueAct Spring Fund, P. Schoenfeld Asset Management LP and other institutional investors. Nikola manufactures electric vehicles and is based in Phoenix.
3/31/2020 Snip Internet LLC announced the close of a $7.8 million Series B funding round led by Peppertree Capital Management with participation from Weinberg Capital Partners, Imperial Court, and Limelight Networks, Inc. (NasdaqGS:LLNW). Limelight provides content delivery and related services and is based in Scottsdale.