Arizona Deal Intelligence - March 2025

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

3/2/2025 Viavi Solutions Inc. (VIAVI) (NasdaqGS:VIAV) agreed to acquire Spirent Communications plc’s high-speed ethernet and network security business lines from Keysight Technologies, Inc. (NYSE:KEYS) for $425.0 million. Based in Chandler, VIAVI is a global provider of network test, monitoring and assurance solutions for telecommunications, cloud, enterprises, first responders, military, aerospace and railway. Fried, Frank, Harris, Shriver & Jacobson LLP is serving as legal advisor to VIAVI.

3/3/2025 Wasserman Media Group, LLC acquired bluemedia, Inc. The terms of the transaction were not disclosed. bluemedia operates as a branding and signage company and is based in Tempe.

3/4/2025 Martori Bros. Distributors acquired assets of V.H. Azhderian & Co. The terms of the transaction were not disclosed. Martori produces and distributes melons and is based in Scottsdale.

3/4/2025 Sunstate Equipment Co., LLC acquired AJ Rental Dallas Inc. The terms of the transaction were not disclosed. Sunstate provides construction rental equipment and tools to construction, industrial, and special event companies and is based in Phoenix.

3/5/2025 Prime Time Healthcare, LLC acquired AB Staffing Solutions, LLC. The terms of the transaction were not disclosed. AB offers employment and staffing services for healthcare professionals and nurses in Arizona and is based in Gilbert.

3/7/2025 Dogs 24/7 LLC acquired Pampered Paw Resort. The terms of the transaction were not disclosed. Dogs 24/7 engages in pet care services and is based in Chandler.

3/10/2025 IQMIND, Inc. acquired ProSports Technologies, LLC. The terms of the transaction were not disclosed. ProSports develops equipment to remotely detect head and other injuries to football players and is based in Scottsdale.

3/10/2025 Jason Mitchell Real Estate Arizona LLC acquired iRealty Arkansas, LLC. The terms of the transaction were not disclosed. Jason Mitchell offers real estate services, including buying and selling homes, and is based in Scottsdale.

3/11/2025 CarData, Inc. and Velocity Automotive Marketing acquired Tristar Digital Services. The terms of the transaction were not disclosed. Velocity provides marketing and lot services to automotive retailers and is based in Phoenix.

3/12/2025 NV5 Global, Inc. (NasdaqGS:NVEE) acquired Herman Cx, LLC. The terms of the transaction were not disclosed. Herman Cx is a provider of commissioning and conformity assessment services for hyperscale data centers and is based in Cottonwood.

3/12/2025 LUV Car Wash acquired Green Forest Express. The terms of the transaction were not disclosed. LUV operates an express car wash chain and is based in Gilbert.

3/12/2025 Ubiqconn Technology (USA) Inc. acquired E3 Displays, LLC. The terms of the transaction were not disclosed. E3 designs and manufactures customized flat panel display systems and is based in Phoenix.

3/13/2025 Athene Holding Ltd., Motive Capital Management, LLC, and Apollo Global Management, Inc. (NYSE:APO) acquired Advantage Retirement Solutions, LLC. The terms of the transaction were not disclosed. Advantage operates as an asset management company and is based in Scottsdale.

3/19/2025 Raceway Car Wash acquired Foothill Express Car Wash. The terms of the transaction were not disclosed. Raceway provides express car wash services and is based in Phoenix.

3/21/2025 Tremco CPG Inc. acquired HercuWall®, a panelized insulated wall system, from Tempe-based HercuTech, Inc. The terms of the transaction were not disclosed.

3/24/2025 FST Technical Services, Inc. acquired Criterion Labs, Inc. The terms of the transaction were not disclosed. FST provides third-party quality assurance and quality control consulting, inspection, and analytical certification services for high purity gas and liquid delivery system installations and is based in Chandler.

3/24/2025 Rhino Staging & Event Productions, Inc. acquired ROC Rigging Inc. The terms of the transaction were not disclosed. Rhino provides professional event production staffing services and is based in Tempe.

3/27/2025 Integrity Marketing Group LLC agreed to acquire The Quantum Group, USA, LLC, dba Quantum Distribution & Insurance Services LLC. The terms of the transaction were not disclosed. Based in Scottsdale, Quantum is an independent distribution company with an insurance platform providing access to more than 400 annuity and 200 insurance products, some with exclusive distribution.

M&A - Financial

3/4/2025 Ignova Ventures acquired all aerospace assets of Systems Integrators LLC, including CGS Technologies' specialty gasket manufacturing brand, precision machining, and aerospace assembly businesses. The terms of the transaction were not disclosed. The newly acquired business will operate as Ignova Mechanical and specialize in manufacturing precision components for aerospace, defense, and industrial markets. Based in Glendale, Systems Integrators provides manufacturing services with divisions including a full-service CNC machine shop, custom gasket manufacturing, fatigue testing equipment, concentration analyzers and flow meters and flat screen LCD and circuit card repair. Ignova Ventures invests in lower-middle market U.S. industrial companies and is based in Phoenix.

Private Placements

3/11/2025 Origo Education announced that it has received a round of funding that included participation from RevTek Capital, a Phoenix-based boutique asset manager specializing in tailored credit solutions for SaaS technology companies and other high-growth recurring revenue businesses.

3/12/2025 NOVI Space Inc. announced that it has received a round of funding that included participation from AIN Ventures, LLC, Spirit Electronics, Tyger River Capital, and individual investor Sachio Semmoto. Based in Phoenix, Spirit is a veteran-owned, woman-owned value-added supplier of high reliability components and superior supply chain solutions.

3/19/2025 Proscia Inc. announced that it has received $50.0 million from new investor Capital Insight Partners, LLC, a privately owned investment manager based in Scottsdale.