Arizona Deal Intelligence - December 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

12/1/2025 Fennemore Law acquired Schmoyer Reinhard, LLP. The terms of the transaction were not disclosed. Fennemore provides legal counsel and advisory services and is based in Phoenix.

12/2/2025 EnergyHub, Inc. acquired Resideo Grid Services from Resideo Technologies, Inc. (NYSE:REZI). The terms of the transaction were not disclosed. Based in Scottsdale, Resideo Grid Services provides demand response aggregation and program management, helping utilities and energy retailers manage grid demand with precision and efficiency. Willkie Farr & Gallagher LLP served as legal advisor to Resideo.

12/2/2025 ATS Mako, LLC acquired Applicant Starter, LLC. The terms of the transaction were not disclosed. ATS designs and develops an applicant tracking and hiring automation platform and is based in Phoenix.

12/2/2025 Evive Brands, LLC acquired Shine Franchise Group. The terms of the transaction were not disclosed. Evive operates as a multi-branded service organization and is based in Scottsdale.

12/2/2025 Salt Dental Collective, LLC acquired Kirby Nelson Orthodontics. The terms of the transaction were not disclosed. Salt operates as a dental partnership organization that supports dental practitioners and is based in Phoenix.

12/3/2025 Precision Aviation Group, Inc. acquired H.E.R.O.S., Inc. The terms of the transaction were not disclosed. H.E.R.O.S. is a Rolls-Royce M250/RR300 engine MRO provider based in Chandler.

12/3/2025 Torginol, Inc. acquired Chips Unlimited, Inc. The terms of the transaction were not disclosed. Chips manufactures and markets decorative chips or flakes that enhance the aesthetic qualities of resinous flooring systems and is based in Tempe. Dorsey & Whitney LLP served as legal advisor to Chips.

12/5/2025 Molded Devices, Inc., dba Aptyx, acquired Argos Corporation. The terms of the transaction were not disclosed. Aptyx engages in plastic and rubber processing solutions for original equipment manufacturers and is based in Tempe.

12/8/2025 Atria Heart, PLLC acquired Cardiovascular Consultants, Ltd. The terms of the transaction were not disclosed. Cardiovascular operates as a provider of cardiovascular care services and is based in Phoenix. Atria owns and operates a cardiovascular care and treatment center and is based in Scottsdale.

12/9/2025 Protel Communications Inc. acquired Amer-X Security, Inc. The terms of the transaction were not disclosed. Amer-X is a security and alarm services company based in Scottsdale.

12/10/2025 PrePass Safety Alliance acquired Fleetdrive 360, Inc. The terms of the transaction were not disclosed. PrePass is a non-profit organization that provides a suite of services focused on commercial transportation safety and efficiency and is based in Phoenix.

12/16/2025 WIN Reality, Inc. acquired Yakkertech Limited. The terms of the transaction were not disclosed. Yakkertech develops and supplies optical pitch-tracking technology for baseball and softball performance measurement and analytics and is based in Phoenix.

12/16/2025 MC Group, Inc. acquired Itegria, LLC from RIA in a Box LLC. The terms of the transaction were not disclosed. MC is an IT consulting and services company based in Phoenix.

12/19/2025 LUV Car Wash acquired Champion Car Wash. The terms of the transaction were not disclosed. LUV operates an express car wash chain across the country and is based in Gilbert.

12/19/2025 Accordion Partners LLC, which is backed by Charlesbank Capital Partners and Motive Partners, acquired Pinnacle Healthcare Advisors, Inc. The terms of the transaction were not disclosed. Pinnacle provides revenue cycle management and operational performance consulting services to hospitals and healthcare systems and is based in Phoenix.

12/19/2025 Blue Sky Pest Control acquired Conquistador Pest & Termite, Inc. The terms of the transaction were not disclosed. Conquistador offers pest control services and is based in Tucson. Blue provides residential and commercial pest control services and is based in Gilbert.

12/24/2025 Opendoor Technologies Inc. (NasdaqGS:OPEN) acquired Growella Inc., dba Homebuyer. The terms of the transaction were not disclosed. Opendoor operates a digital platform for residential real estate transactions and is based in Tempe.

12/29/2025 FGN Inc. agreed to acquire Fiber Gaming, LLC. The terms of the transaction were not disclosed. FGN provides esports and simulation-based gaming services and is based in Phoenix.

12/29/2025 Security Franchisors, LLC acquired Electronic Security Concepts LLC. The terms of the transaction were not disclosed. Electronic Security provides design, installation, integration and monitoring of electronic security and low-voltage systems for commercial, government and residential clients and is based in Scottsdale.

12/31/2025 Park Dental Partners, Inc. (NasdaqCM:PARK) acquired Sunlight Dental. The terms of the transaction were not disclosed. Sunlight provides dental care services to individuals and families and is based in Surprise.

M&A - Financial

12/18/2025 Fundamental Income Properties, LLC acquired the Milwaukee headquarters of Paper Machinery Corporation for $11.4 million in a sale-leaseback transaction. Based in Phoenix, Fundamental Income is a $2.2 billion net lease investment platform owned by Starwood Property Trust (NYSE:STWD), a $30 billion REIT investing internationally.

Private Placements

12/1/2025 Jeeva AI announced that it has raised $9.0 million in a round of funding led by JLL Spark with participation from Sapphire Ventures, Alt Capital, Coyote Capital Management, LLC, GTMfund LLC, and other investors. GTMfund is a venture capital firm based in Scottsdale.

12/2/2025 One Million Metrics Corp. announced that it has received an investment that included participation from Trinity Capital Investment, LLC. Trinity is a Phoenix-based venture capital firm specializing in venture debt.

12/9/2025 Cloverleaf Networks, LLC announced that it has received a round of funding that included participation from new investor Super K Ventures. Based in Phoenix, Cloverleaf provides fully managed, secure, cloud-optimized connectivity solutions for remote, hybrid, and multi-site businesses.

12/17/2025 RPM-One Inc., dba Drive Health, announced that it has raised $15.0 million in a round of funding led by new investor Vitalis Ventures with participation from new investor Inside Capital Partners. Drive operates a platform that delivers AI-powered virtual nursing solutions to automate patient engagement and clinical workflows for healthcare providers and is based in Gilbert.

12/24/2025 Picard Medical, Inc. (NYSEAM:PMI) announced that it has entered into a definitive agreement for a private placement financing of up to $50.0 million. Picard expects to issue an initial $15.0 million principal amount of notes at closing with the option to fund up to an additional $35.0 million principal amount in one or more tranches subject to certain conditions. Picard is the parent company of Tucson-based SynCardia Systems, LLC, maker of the world’s first total artificial heart approved by both the U.S. FDA and Health Canada.