Arizona Deal Intelligence - November 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

11/3/2025 Valence Surface Technologies, LLC acquired Foresight Finishing, LLC. The terms of the transaction were not disclosed. Based in Tempe, Foresight specializes in fast turnaround electroplating services for precious and non-precious metals, with a focus on special handling and the aerospace and electronics industries. Polsinelli PC served as legal advisor to Foresight.

11/4/2025 Axon Enterprise, Inc. (NasdaqGS:AXON) agreed to acquire Carbyne Ltd. for $625.0 million. Axon develops, manufactures, and sells conducted energy devices (CEDs) under the TASER brand and is based in Scottsdale. Morgan, Lewis & Bockius LLP and Meitar Liquornik Geva Leshem Tal & Co served as legal advisors to Axon.

11/4/2025 Lettuce Financial Labs, Inc. acquired Besolo, Inc. The terms of the transaction were not disclosed. Besolo designs and develops a self-employed benefits platform and is based in Phoenix.

11/6/2025 Evive Brands, LLC acquired Pacific Lawn Sprinklers Inc. Evive is a community of service-focused franchise companies and is based in Scottsdale. Jones Day served as legal advisor to Evive.

11/6/2025 LifeCare Home Health Family acquired Infinity Hospice Care LLC. The terms of the transaction were not disclosed. Infinity provides in-home and inpatient hospice and palliative care services designed for patients and families facing life-limiting illnesses and is based in Scottsdale.

11/6/2025 Meyer Distributing, Inc. acquired Surelock Security Co. from Outdoor Brands, LLC. The terms of the transaction were not disclosed. Surelock designs and manufactures safe and secure storage solutions and is based in Phoenix.

11/7/2025 Satair USA Inc. agreed to acquire Unical Aviation Inc. The terms of the transaction were not disclosed. Unical manufactures and supplies aircraft parts and components and is based in Glendale. Reed Smith LLP served as legal advisor to Unical.

11/11/2025 Diamond Landscaping, Inc. acquired Arizona Outdoor Designs. The terms of the transaction were not disclosed. Arizona Outdoor provides landscape services and is based in Cave Creek.

11/12/2025 Corsica Technologies, Inc. acquired AccountabilIT, LLC. The terms of the transaction were not disclosed. AccountabilIT provides ERP applications management and cloud IT services and is based in Scottsdale.

11/13/2025 Hello Sugar acquired the assets of 20 Waxxpot salons located across Georgia, Kentucky, Ohio, and Texas. The terms of the transaction were not disclosed. Hello Sugar is a national franchise specializing in modern hair-removal and skincare services and is based in Mesa.

11/14/2025 Mantiqueira USA agreed to acquire Hickman's Egg Ranch, Inc. The terms of the transaction were not disclosed. Hickman's produces and markets eggs and is based in Buckeye. Faegre Drinker Biddle & Reath LLP is serving as legal advisor to Hickman's.

11/19/2025 Hyperion Financial Group LLC acquired MorningDownload.com and its related media assets, including DividendDownload.com, RetirementDownload.com, and FutureDownload.co. The terms of the transaction were not disclosed. Hyperion is a financial publishing company providing financial education, news, and market research for retail investors and is based in Scottsdale.

11/19/2025 Carvana Operations HC LLC acquired San Diego Chrysler Dodge Jeep Ram dealership. The terms of the transaction were not disclosed. Carvana operates an online platform for retailing used cars and is based in Tempe.

11/24/2025 Vensure HR, Inc. agreed to acquire remaining majority stake in Creai Technologies, S.A. de C.V. Based in Chandler, Vensure provides outsourced human resources, payroll, employee benefits, compliance, and related administrative services.

11/24/2025 Bruker Corporation (NasdaqGS:BRKR) acquired AST Revolution, LLC. The terms of the transaction were not disclosed. Based in Tucson, AST operates as an in vitro diagnostics company that develops rapid antimicrobial susceptibility testing solutions to improve patient outcomes and lower healthcare costs.

11/25/2025 Kinective acquired Compuflex Corporation. The terms of the transaction were not disclosed. Kinective is a provider of banking operations platforms for financial institutions and is based in Gilbert.

11/25/2025 Forge Restoration acquired Steamy Concepts. The terms of the transaction were not disclosed. Steamy offers restoration and cleaning services and is based in Tucson.

Private Placements

11/19/2025 Leanspace SAS announced that it has raised $12.0 million in a round of funding led by Guillaume Tanier, Alvaro Alonso Ruiz, and Gert Kryger Villemos with participation from Capgemini Ventures, Qwaltec Incorporated, and other investors. Based in Tempe, Qwaltec is a defense contractor and provider of turnkey solutions and engineering services.

11/20/2025 Sortera Technologies, Inc. announced that it has received $25.0 million in a round of funding from VXI Capital Management LLC, Trinity Capital Inc., and other investors. Trinity is a Phoenix-based venture capital firm specializing in venture debt.