Q3 2026 | Arizona M&A Insights

M&A InsightsArizona Private EquityQ3 2026 Phoenix M&A Activity
Written By William & Wall

Q3 2026 Arizona Buyer M&A Activity & Deal Insights from William & Wall analyzes acquisition activity, buyer strategy, and transaction trends among Arizona-headquartered companies—headlined by Dutch Bros' acquisition of up to 65 Salad and Go locations and Fundamental Income Properties' acquisition of a 1.37 million-square-foot Midwest industrial portfolio. Based in Scottsdale, our investment banking firm advises Arizona business owners on sell-side M&A, succession planning, and strategic positioning—combining institutional rigor with deep local market expertise.

The information reflects transactions as reported, including deal descriptions, values, and statuses, but may contain gaps, such as undisclosed deal terms or financial metrics, which limit comprehensive analysis. While efforts have been made to ensure accuracy, users should consult primary sources or professional advisors for legal, financial, or strategic decisions. No warranties are made regarding the completeness or reliability of this data, and the provider assumes no liability for its use.

Targets in Arizona

Arizona — Business Sale Overview

In Q3 2026, Arizona-based target companies recorded 48 M&A transactions with approximately $6.05 billion of aggregate disclosed transaction value. Ten transactions reported a disclosed value, while the remaining 38 were announced without consideration figures in the source data. No single transaction represented more than half of disclosed value: the quarter's largest, KKR's approximately $2.0 billion acquisition of Phoenix-based A1 Garage Door Service, accounted for roughly one-third of the total. Buyer activity was led primarily by out-of-state strategic acquirers, private equity and institutional investors, alongside several Canadian, Australian, and other international buyers. Construction and industrial services, technology and business services, mining and natural resources, and real estate and hospitality were among the quarter's most visible themes, reinforcing Arizona's position as a durable and increasingly institutionalized seller market.

The quarter's marquee transactions spanned several categories. In business and consumer services, New York-based KKR agreed to acquire Phoenix-based A1 Garage Door Service for approximately $2.0 billion, providing new institutional ownership for the scaled home-services platform. In real assets, CBRE Investment Management acquired Scottsdale-based Tenet Equity Partners for $1.6 billion, adding a portfolio of more than 200 properties totaling approximately 12 million square feet across 39 states, while Evergreen Acquisitions agreed to acquire the Four Seasons Resort Scottsdale at Troon North for $372 million. Technology and industrial activity was also substantial: IES Holdings agreed to acquire Phoenix-based DBM Global for approximately $723.28 million, expanding its exposure to structural steel and construction services, and ScanSource acquired Phoenix-based Frontier Technology for approximately $220.5 million. Separately, Tempe-based ARC Group Acquisition I Corp entered into a $1.0 billion reverse-merger transaction with Firstborn Top Capital, providing the Malaysian financial-services company a path to the public markets.

The quarter reinforced the breadth of Arizona's exit environment, with activity ranging from founder- and family-owned service businesses to sponsor-backed platforms, public-company transactions, hospitality assets, and mineral interests. The presence of large institutional buyers alongside strategic consolidators suggests that Arizona continues to attract capital across a wide spectrum of transaction sizes and industries, providing business owners and sponsors with multiple potential paths to liquidity and strategic partnership.

Arizona — Strategic vs. Sponsor-led Activity

Arizona — X / Y Plot By Sector

Arizona — M&A Segmentation

Arizona — Sector Breakdown

Second Level Primary Industry Breakdown

Arizona M&A Deal Summaries — Business Sale Activity for M&A Targets

The following transactions represent M&A activity where the target entity is headquartered in described geography, in line with the traditional reporting on target M&A deal volume and metrics captured in the charts and conventional analysis above.

  1. Moving.com, Inc. (7/1/2026)
    National Holding Company of Broadview, IL, acquired Moving.com, Inc. of Westlake Village, AZ, from Move, Inc., adding Moving.com alongside the related acquisition of MoveAI while maintaining existing customer agreements and service relationships.

  2. Royal Personnel Services, Inc. (7/1/2026)
    Masis Staffing Solutions, LLC of Worcester, MA, acquired Royal Personnel Services, Inc. of Scottsdale, AZ, expanding its staffing-services platform in Arizona.

  3. Lelantos Holdings, Inc. (7/6/2026)
    Airtopia Adventure Parks, Inc. acquired Lelantos Holdings, Inc. of Tucson, AZ, in a reverse-merger transaction, providing Lelantos ownership of an established family-entertainment platform operating across three states.

  4. Essential Pest Control, Inc. (7/7/2026)
    Greenix Holdings, LLC of Marlton, NJ, acquired Essential Pest Control, Inc. of Tucson, AZ, expanding its residential pest-control platform into the Arizona market.

  5. GG&D Motor Vehicle Services, LLC (7/8/2026)
    Dealer Services Network, LLC of Florida acquired GG&D Motor Vehicle Services, LLC of Phoenix, AZ, adding GG&D's locations and operations while retaining its existing brand, employees, and management continuity.

  6. Master Rooter LLC (7/9/2026)
    Day & Night Air Conditioning, Heating & Plumbing, LLC of Phoenix, AZ, acquired Master Rooter LLC of Mesa, AZ, expanding its plumbing and home-services capabilities in the Phoenix metropolitan market.

  7. JabberYak, LLC (7/10/2026)
    Strayboots Inc. of New York, NY, acquired JabberYak, LLC of Scottsdale, AZ, adding the Arizona-based interactive-media business to its platform.

  8. Jason Mitchell Real Estate Arizona LLC (7/13/2026)
    Keller Williams Realty, LLC of Austin, TX, agreed to acquire Jason Mitchell Real Estate Arizona LLC of Scottsdale, AZ, adding the Jason Mitchell Group platform while retaining its leadership within a dedicated Keller Williams division.

  9. Korn Kob Property (7/13/2026)
    US Critical Metals Corp. of Vancouver, Canada, agreed to acquire the Korn Kob Property in Arizona for approximately $1.07 million, adding an Arizona copper property to its mineral-development portfolio.

  10. C. Myers Corporation (7/14/2026)
    Strata Decision Technology, L.L.C. of Chicago, IL, acquired C. Myers Corporation of Phoenix, AZ, adding the company's team and consulting capabilities to Strata's healthcare-focused platform.

  11. iT1 Nucleos LLC (7/14/2026)
    iT1 Source LLC of Tempe, AZ, acquired Nucleos Inc. to form iT1 Nucleos of Tempe, AZ, combining the organizations' technology capabilities into a platform focused on serving underserved learners.

  12. United Structural Design, LLC (7/14/2026)
    AG&E Associates PLLC of Dallas, TX, acquired United Structural Design, LLC of Mesa, AZ, adding United Structural Design's team to its engineering platform.

  13. White Spar Mine (7/28/2026)
    American Tungsten and Antimony Ltd of Subiaco, Australia, agreed to acquire the White Spar Mine in Arizona for approximately $56.37 million, adding a U.S. tungsten and antimony asset to its resource portfolio.

  14. Undisclosed Insurance Agency (7/31/2026)
    Alkeme Holdings, LLC of New Castle, DE, acquired an undisclosed insurance agency in Arizona, expanding its insurance-distribution platform in the state.

  15. Imagine Technology Group, Inc. (8/3/2026)
    DEX Imaging, Inc. of Tampa, FL, acquired Imagine Technology Group, Inc. of Chandler, AZ, expanding its office-technology and imaging-services footprint in Arizona.

  16. Pisgah Stone Products LLC (8/4/2026)
    CRH Americas Materials, Inc. of Atlanta, GA, acquired Pisgah Stone Products LLC of Wellsville, AZ, adding the construction-materials business to its U.S. materials platform.

  17. Additional Acres — Copper Springs Project (8/5/2026)
    Coyote Copper Mines Inc. of Mississauga, Canada, acquired approximately 2,000 additional acres in Gila County, AZ, expanding the land position surrounding its Copper Springs project.

  18. Additional Land — Tombstone Project (8/5/2026)
    Aztec Minerals Corp. of Vancouver, Canada, acquired additional land in the North Extension Zone of the Tombstone Project in Arizona, expanding its exploration footprint around the existing project.

  19. BANFF99 LLC (8/5/2026)
    ACT Dental University, Inc. of Milwaukee, WI, acquired BANFF99 LLC of Phoenix, AZ, through its acquisition of Profitable PPOs, adding the business to its dental-services and education platform.

  20. Two Peaks Project (8/5/2026)
    Orogen Royalties Inc. of Vancouver, Canada, acquired the Two Peaks Project in Arizona, adding another Arizona mineral project to its royalty and exploration portfolio.

  21. Shasta Pools & Spas, Inc. (8/6/2026)
    An investor group led by Accrual Equity Partners, Dansons Capital Group, and Hydro Construction, LLC acquired Shasta Pools & Spas, Inc. of Phoenix, AZ, providing new institutional ownership for the Arizona pool-construction and services business.

  22. American Barcode and RFID, Incorporated (8/10/2026)
    DecisionPoint Technologies, Inc. of Baltimore, MD, acquired American Barcode and RFID, Incorporated of Phoenix, AZ, adding barcode, RFID, and automated-identification capabilities to its technology-solutions platform.

  23. DBM Global Inc. (8/10/2026)
    IES Holdings, Inc. of Sugar Land, TX, agreed to acquire DBM Global Inc. of Phoenix, AZ, for approximately $723.28 million, adding DBM's structural-steel and construction businesses to IES's diversified industrial platform.

  24. Turner Laboratories, Inc. (8/11/2026)
    AmSpec Services, Inc. of Cranbury, NJ, acquired Turner Laboratories, Inc. of Tucson, AZ, expanding its laboratory testing and analytical-services capabilities.

  25. Additional Claims (8/12/2026)
    Infinity Metals Limited of Subiaco, Australia, acquired additional mineral claims in Arizona through staking, expanding its U.S. exploration position.

  26. AppsFreedom, Inc. (8/12/2026)
    SELECCIÓN Consulting, LLC of East Brunswick, NJ, acquired AppsFreedom, Inc. of Chandler, AZ, adding enterprise software and AI capabilities while bringing the target's former founder and CEO into a senior enterprise-AI role.

  27. 79 Claims — Gold Basin Property (8/18/2026)
    CANEX Metals Inc. of Calgary, Canada, acquired 79 mineral claims in Mohave County, AZ, expanding its Gold Basin property through additional staked acreage.

  28. Frontier Technology LLC (8/20/2026)
    ScanSource, Inc. of Greenville, SC, acquired Frontier Technology LLC of Phoenix, AZ, for approximately $220.5 million, adding the business to a transaction expected to increase ScanSource's gross profit margin, adjusted EBITDA margin, and non-GAAP earnings per share.

  29. Klipper Automotive (8/25/2026)
    Sun Auto Tire & Service Inc. of Tucson, AZ, acquired Klipper Automotive of Marana, AZ, expanding its automotive-service presence in southern Arizona.

  30. Pitchfork Enterprises, LLC (8/25/2026)
    JARS Cannabis of Troy, MI, agreed to acquire Pitchfork Enterprises, LLC of Tempe, AZ, adding eight Ponderosa dispensary locations while retaining and expanding the Sonoran Roots family of brands.

  31. Parcels of Tombstone (8/26/2026)
    Aztec Minerals Corp. of Vancouver, Canada, agreed to acquire additional parcels associated with its Tombstone project in Arizona for approximately $0.24 million, further consolidating its land position around the project.

  32. ServerLIFT LLC (8/31/2026)
    Justrite Manufacturing Company, L.L.C. of Deerfield, IL, acquired ServerLIFT LLC of Phoenix, AZ, adding the data-center equipment business to its industrial-products portfolio.

  33. Watson Chevrolet / Infiniti of Tucson (8/31/2026)
    Private investor Scott Gruwell acquired Watson Chevrolet and Infiniti of Tucson in Tucson, AZ, with the dealerships transitioning to the Courtesy Chevrolet of Tucson and Courtesy Infiniti of Tucson brands.

  34. A1 Garage Door Service LLC (9/2/2026)
    KKR & Co. Inc. of New York, NY, agreed to acquire A1 Garage Door Service LLC of Phoenix, AZ, for approximately $2.0 billion, providing new institutional ownership for the rapidly scaled residential garage-door services platform.

  35. Allied Gases and Welding Supplies, Inc. (9/2/2026)
    Meritus Gas Partners of New York, NY, acquired Allied Gases and Welding Supplies, Inc. of Tempe, AZ, expanding its industrial-gas and welding-supplies distribution platform.

  36. Polaris Aero LLC (9/3/2026)
    Veryon of San Francisco, CA, acquired Polaris Aero LLC of Scottsdale, AZ, adding aviation software capabilities to its broader aviation-technology platform.

  37. Desert Gas LNG Plant and Certain Spectrum LNG Assets (9/8/2026)
    Sapphire Gas Solutions LLC of Conroe, TX, acquired the Desert Gas LNG Plant in Ehrenberg, AZ, and certain related Spectrum LNG assets, adding approximately 100,000 gallons of LNG storage and approximately 76,000 gallons per day of operating production capacity.

  38. Tenet Equity Partners, Inc. (9/8/2026)
    CBRE Investment Management, LLC of New York, NY, acquired Tenet Equity Partners, Inc. of Scottsdale, AZ, for $1.6 billion, adding a portfolio of more than 200 properties totaling approximately 12 million square feet across 39 states.

  39. Gallagher & Kennedy (9/9/2026)
    Fennemore Craig, P.C. of Phoenix, AZ, agreed to acquire Gallagher & Kennedy of Phoenix, AZ, creating a combined firm with nearly 300 lawyers and legal professionals in Phoenix and more than 800 firmwide.

  40. ARC Group Acquisition I Corp (9/10/2026)
    Firstborn Top Capital Sdn. Bhd. of Kuala Lumpur, Malaysia, agreed to combine with ARC Group Acquisition I Corp of Tempe, AZ, in a $1.0 billion reverse-merger transaction, providing a Nasdaq-listed structure to support Firstborn's market expansion, lending infrastructure, and marketing development.

  41. Avertium (9/11/2026)
    CyberMaxx, LLC of Linthicum Heights, MD, acquired Avertium of Phoenix, AZ, combining the businesses within a broader cybersecurity-services platform.

  42. 111 Claims — Copper Springs Project (9/15/2026)
    Coyote Copper Mines Inc. of Mississauga, Canada, acquired 111 mineral claims in Gila County, AZ, further expanding its Copper Springs project land position.

  43. Alaris, Inc. (9/16/2026)
    Daxko, LLC of Birmingham, AL, acquired Alaris, Inc. of Vancouver, AZ, adding the Alaris platform while retaining it as a standalone product for operators.

  44. Advaia, Inc. (9/17/2026)
    Frick! LLC of Los Angeles, CA, acquired Advaia, Inc. of Laveen, AZ, adding the Arizona-based business to its operating platform.

  45. Gather Vacations, Inc. (9/17/2026)
    StayTerra of New York, NY, acquired Gather Vacations, Inc. of Mesa, AZ, expanding its vacation-rental platform while retaining Gather's existing leadership team.

  46. Arizona Daily Star (9/28/2026)
    USA TODAY Co., Inc. of Pittsford, NY, acquired the Arizona Daily Star of Tucson, AZ, from Lee Enterprises, adding the longstanding Tucson publication to its local-news portfolio.

  47. 1.75% Net Smelter Return Royalty (9/29/2026)
    Deterra Royalties Limited of Perth, Australia, acquired a 1.75% net smelter return royalty associated with an Arizona copper asset for $74.15 million, adding royalty exposure to its natural-resources portfolio.

  48. Four Seasons Resort Scottsdale at Troon North (9/29/2026)
    Evergreen Acquisitions, LLC acquired the Four Seasons Resort Scottsdale at Troon North of Scottsdale, AZ, for $372 million, adding a major luxury hospitality asset in the Scottsdale market.

Buyers in Arizona

The following transactions represent M&A activity where the acquiring entity is headquartered in described geography, distinct from the traditional reporting on target M&A deal volume and metrics captured in the charts and conventional analysis above.

Arizona — M&A Business Acquisition Overview (Buyers)

In Q3 2026, Arizona-based buyers recorded 47 M&A transactions with approximately $292.4 million of aggregate disclosed transaction value. Eight transactions reported values, while consideration was undisclosed for the remaining 39 line items. The largest disclosed transaction was Tempe-based Dutch Bros' agreement to acquire up to 65 Salad and Go locations for $105 million, representing approximately 36% of total disclosed value. Arizona acquirers pursued targets both within the state and across the country, with particularly visible activity in business and consumer services, technology and education, insurance and healthcare services, industrial businesses, and real estate. The breadth of activity illustrates Arizona's growing role not only as a seller market, but also as a headquarters base for acquisitive middle-market and strategic buyers.

Several transactions highlighted the expanding reach of Arizona-based acquirers. In real estate, Phoenix-based Fundamental Income Properties acquired a 1.37 million-square-foot Midwest industrial portfolio for $89 million, while Scottsdale-based Simon Commercial Real Estate acquired the Island Plaza retail center in Oak Harbor, Washington, for $12 million. In consumer and multi-unit services, Tempe-based Dutch Bros agreed to acquire up to 65 Salad and Go locations for $105 million, and Tucson-based Sun Auto Tire & Service continued its acquisition strategy with purchases of Integrity Automotive in Washington and Klipper Automotive in Arizona. Technology-oriented buyers were also active: Scottsdale-based Monetary Metals acquired TJS USA for $28.5 million, Phoenix Education Partners agreed to acquire Fuel50 for $40 million, and PointsKash completed multiple acquisitions supporting its fintech and digital-infrastructure strategy.

The quarter reinforced the increasing sophistication and geographic reach of Arizona-headquartered buyers. Companies based in Phoenix, Scottsdale, Tempe, Tucson, Chandler, Mesa, Gilbert, and Goodyear pursued targets across numerous states and industries, demonstrating that Arizona's M&A ecosystem increasingly includes established platforms using acquisitions as a core growth strategy. For business owners and sponsors, that creates a deeper local universe of potential strategic buyers alongside the state's traditional base of sellers and investment opportunities.

Arizona M&A Deal Summaries — Business Sale Activity for M&A Buyers

  1. Lelantos Holdings, Inc. (7/6/2026)
    Airtopia Adventure Parks, Inc. acquired Lelantos Holdings, Inc. of Tucson, AZ, in a reverse-merger transaction, giving Lelantos ownership of an established family-entertainment platform operating across three states.

  2. TJS USA Inc. (7/7/2026)
    Monetary Metals & Co. of Scottsdale, AZ, acquired TJS USA Inc. of New York, NY, for $28.5 million in an all-share transaction, aligning TJS shareholders with the strategy and growth of the combined business.

  3. Master Rooter LLC (7/9/2026)
    Day & Night Air Conditioning, Heating & Plumbing, LLC of Phoenix, AZ, acquired Master Rooter LLC of Mesa, AZ, expanding its plumbing and home-services capabilities in the Phoenix metropolitan market.

  4. Proprietary Software Assets of ChainBytes (7/10/2026)
    PointsKash Inc. of Scottsdale, AZ, acquired proprietary software assets from ChainBytes, adding software capabilities and bringing ChainBytes founder and lead developer Eric Grill into the PointsKash technology team.

  5. Nucleos Inc. / iT1 Nucleos LLC (7/14/2026)
    iT1 Source LLC of Tempe, AZ, acquired Nucleos Inc. to form iT1 Nucleos of Tempe, AZ, combining technology capabilities into a platform focused on serving underserved learners.

  6. Top Performance Housing (7/14/2026)
    MAVRX Sports Housing LLC of Phoenix, AZ, acquired Top Performance Housing, expanding its sports-housing platform.

  7. Full Stop Technics LLC (7/15/2026)
    AvAir, Inc. of Chandler, AZ, acquired Full Stop Technics LLC of Milwaukee, WI, expanding its aviation aftermarket and technical-services capabilities.

  8. Spike Technologies, Inc. (7/15/2026)
    Raintree Systems, Inc. of Chandler, AZ, acquired Spike Technologies, Inc. of New York, NY, adding complementary technology capabilities to its healthcare-software platform.

  9. J.J. White, Inc. (7/20/2026)
    Centuri Holdings, Inc. of Phoenix, AZ, acquired J.J. White, Inc. of Philadelphia, PA, expanding its Riggs Distler operation and strengthening union electric capabilities across the Northeast and Midwest.

  10. King's Crown (7/22/2026)
    Roberts Resorts & Communities of Scottsdale, AZ, acquired King's Crown, expanding its resort and community portfolio.

  11. 1.37M-SF Midwest Industrial Portfolio (7/23/2026)
    Fundamental Income Properties, LLC of Phoenix, AZ, acquired a 1.37 million-square-foot Midwest industrial portfolio for $89 million, expanding its portfolio of income-producing industrial real estate.

  12. Ahwatukee Golf Club (7/25/2026)
    ViaWest Properties, LLC of Phoenix, AZ, acquired Ahwatukee Golf Club in Arizona for $5.3 million, adding a local real-estate asset to its investment portfolio.

  13. Integrity Automotive LLC (7/28/2026)
    Sun Auto Tire & Service Inc. of Tucson, AZ, acquired Integrity Automotive LLC of Issaquah, WA, expanding its Pacific Northwest footprint to 25 locations.

  14. RevCycle Partners, Inc. (7/28/2026)
    Sustainable Medical Billing, LLC of Phoenix, AZ, acquired RevCycle Partners, Inc. of Glen Ellyn, IL, expanding its healthcare revenue-cycle capabilities while RevCycle's software operations were separated into independent company OneSpot.

  15. Midwest Dental Arts, Inc. (7/29/2026)
    Catalis Dental Lab Partners of Tempe, AZ, acquired Midwest Dental Arts, Inc. of Palm Bay, FL, completing its sixth acquisition under Caymus Equity ownership and expanding its dental-laboratory platform.

  16. Island Plaza Retail Center (7/30/2026)
    Simon Commercial Real Estate of Scottsdale, AZ, acquired the 92,110-square-foot Island Plaza retail center in Oak Harbor, WA, for $12 million, expanding its Pacific Northwest portfolio with plans to redevelop the property.

  17. United Rigging, Inc. (7/31/2026)
    Ascent Lifting, Inc. of Phoenix, AZ, acquired United Rigging, Inc. of Jacksonville, FL, combining the business with its existing CERTEX Jacksonville operation.

  18. Bobby Jones Links (8/3/2026)
    Troon Golf, LLC of Scottsdale, AZ, acquired Bobby Jones Links, expanding its golf-management platform while preserving the target's brand and leadership team.

  19. More Than 2,100 Cryptocurrency Kiosks (8/4/2026)
    PointsKash Inc. of Scottsdale, AZ, acquired more than 2,100 cryptocurrency kiosks from Bitcoin Depot Inc., providing equipment to be refurbished and redeployed as AI-enabled KashPoint financial centers.

  20. Portfolio of Seven Compliance Training Brands (8/5/2026)
    360training.com, Inc. of Tempe, AZ, acquired a portfolio of seven compliance-training brands, expanding its online regulatory and workforce-training platform.

  21. Portfolio of Up to 65 Salad and Go Locations (8/5/2026)
    Dutch Bros Inc. of Tempe, AZ, agreed to acquire a portfolio of up to 65 Salad and Go locations for $105 million, adding a sizable portfolio of restaurant real estate and operating locations.

  22. Wayside Publishing (8/5/2026)
    Imagine Learning LLC of Tempe, AZ, acquired Wayside Publishing of Lewiston, ME, expanding its educational-content and learning-solutions platform.

  23. RenuTrak (8/13/2026)
    Kinematics Manufacturing, Inc. of Phoenix, AZ, acquired RenuTrak of Mesa, AZ, adding complementary capabilities to its manufacturing and technology platform.

  24. Trustr Intellectual Property Portfolio (8/13/2026)
    Aimwell Partners Inc. of Scottsdale, AZ, acquired the Trustr intellectual-property portfolio for $10 million, adding proprietary intellectual-property assets to its platform.

  25. Lupl, Inc. (8/19/2026)
    Elevate Services, Inc. of Phoenix, AZ, acquired Lupl, Inc. of Reston, VA, expanding its technology-enabled legal-services capabilities.

  26. The Canine Campus (8/21/2026)
    Dogs 24/7 LLC of Chandler, AZ, acquired The Canine Campus of Hubbard, OH, expanding its pet-care and canine-services platform.

  27. Air Power USA, Inc. (8/24/2026)
    Cyber Enviro-Tech, Inc. of Scottsdale, AZ, agreed to acquire Air Power USA, Inc. of San Diego, CA, adding the business to its environmental-technology platform.

  28. eMedCert, LLC (8/24/2026)
    360training.com, Inc. of Tempe, AZ, acquired eMedCert, LLC, expanding its online professional-certification and compliance-training offerings.

  29. Premier Processing LLC (8/24/2026)
    NEXA Mortgage, LLC of Mesa, AZ, acquired Premier Processing LLC of Philadelphia, PA, expanding its mortgage-processing platform and adding experienced industry leadership.

  30. 360 Benefits (8/25/2026)
    Freestone Insurance Group of Scottsdale, AZ, acquired 360 Benefits of Chicago, IL, expanding its employee-benefits and insurance-services platform.

  31. Klipper Automotive (8/25/2026)
    Sun Auto Tire & Service Inc. of Tucson, AZ, acquired Klipper Automotive of Marana, AZ, expanding its automotive-services presence in southern Arizona.

  32. Lufkin Biomass Power Facility (8/25/2026)
    1606 Corp. of Phoenix, AZ, agreed to acquire the Lufkin Biomass Power Facility, with plans to redevelop the approximately 132-acre site to support power requirements for artificial-intelligence and high-performance-computing data centers.

  33. mac of all trades, LLC (8/25/2026)
    Full Circle Electronics, L.L.C. of Phoenix, AZ, acquired mac of all trades, LLC of Tampa, FL, expanding its electronics lifecycle and resale platform while maintaining the target's existing customer experience.

  34. Local Cabinet Company LLC (8/28/2026)
    Lelantos Holdings, Inc. of Tucson, AZ, acquired Local Cabinet Company LLC of Oklahoma, adding fabrication capabilities while retaining the target's owner in an operating role.

  35. Tegeler and Associates (8/31/2026)
    Crest Insurance Group, LLC of Tucson, AZ, agreed to acquire Tegeler and Associates of Pinedale, WY, expanding its insurance-brokerage platform and geographic footprint.

  36. Electronic Power Design, Inc. (9/2/2026)
    Voltaris Power LLC of Goodyear, AZ, acquired Electronic Power Design, Inc. of Houston, TX, adding electrical-power engineering and infrastructure capabilities to its platform.

  37. Swift Integrated Services (9/3/2026)
    Ally Waste LLC of Gilbert, AZ, acquired Swift Integrated Services of Spanish Fork, UT, expanding its presence in Utah, Florida, and Idaho while adding waste-stream optimization and brokerage capabilities.

  38. Gallagher & Kennedy (9/9/2026)
    Fennemore Craig, P.C. of Phoenix, AZ, agreed to acquire Gallagher & Kennedy of Phoenix, AZ, creating a combined firm with nearly 300 lawyers and legal professionals in Phoenix and more than 800 firmwide.

  39. Southwestern Montana Insurance Center, LLC (9/11/2026)
    SCALI, LLC of Scottsdale, AZ, acquired Southwestern Montana Insurance Center, LLC of Belgrade, MT, expanding its insurance-services platform for $2.625 million.

  40. Titan Modular Systems / Apollo Modular Systems / Spartan Cargo Trailers / Atlas Lumber & Building Materials (9/14/2026)
    Sunbelt Modular Inc. of Phoenix, AZ, acquired Titan Modular Systems, Apollo Modular Systems, Spartan Cargo Trailers, and Atlas Lumber & Building Materials, expanding its modular-building and related construction-products platform.

  41. Benny the Benefits Navigator (9/15/2026)
    Centauri Health Solutions, Inc. of Tempe, AZ, acquired Benny the Benefits Navigator, adding benefits-navigation capabilities to its healthcare-services platform.

  42. Truelist (9/16/2026)
    Mainstay Labs Inc. of Tempe, AZ, acquired Truelist, adding strategic technology capabilities while bringing Truelist founder and CEO Carey Armstrong into Mainstay as Chief Strategy Officer.

  43. Fuel50 Inc. (9/17/2026)
    Phoenix Education Partners, Inc. of Phoenix, AZ, agreed to acquire Fuel50 Inc. of Laguna Niguel, CA, for $40 million, adding a talent-intelligence platform while allowing Fuel50 to continue operating under its existing brand.

  44. Operating Assets of Outdoors For Life, LLC (9/18/2026)
    Driver Industrial OpCo LLC of Phoenix, AZ, acquired the operating assets of Outdoors For Life, LLC, including its brand, intellectual property, digital assets, equipment, inventory, and goodwill.

  45. Select Assets from Atlantic Training (9/21/2026)
    360training.com, Inc. of Tempe, AZ, acquired select assets from Atlantic Training, expanding its compliance and workforce-training content portfolio.

  46. NorthGroup Real Estate, Inc. (9/22/2026)
    HomeSmart International LLC of Scottsdale, AZ, acquired NorthGroup Real Estate, Inc., adding nearly 2,000 agents and increasing HomeSmart's nationwide network to more than 27,000 agents.

  47. Private Duty Nursing Division in Arkansas (9/25/2026)
    MGA Homecare of Scottsdale, AZ, acquired Care IV's private-duty nursing division in Arkansas, expanding its home-based clinical-care platform while retaining the division's existing leadership and clinical staff.

 

M&A Segmentation — Glossary:

  1. M&A – Whole: The acquisition of 100% ownership of a target company, giving the buyer full control.

  2. M&A – Asset: The purchase of specific assets, such as mineral rights or property, without acquiring the entire company.

  3. M&A – Minority: The acquisition of a non-controlling stake, typically under 50%.

  4. M&A – Spinoff or Splitoff: The divestiture of a business unit into a separate entity or distribution of subsidiary shares to shareholders.

Deal Terms — Glossary:

  1. Transaction Value: Represents the total consideration paid for a transaction, including net debt only if assumed, capturing the full financial scope of the deal.

  2. Deal Value: Focuses solely on the consideration paid for the equity acquired, excluding net debt, to reflect the cost of ownership.

  3. Implied Enterprise Value: Provides a standardized measure of the target’s total entity value, incorporating 100% of the enterprise including net debt, for consistent comparison with metrics like LTM EBITDA and Revenue.

  4. Implied Equity Value: Isolates the equity portion, representing 100% of the target’s equity value, enabling a clear equity-to-equity comparison across transactions.

Copyright ©2026 William & Wall, S&P Global Market Intelligence

William & Wall https://www.williamandwall.com
Next

Q3 2026 | Arizona Debt, Equity & Venture Capital Insights