May 2025 | Arizona M&A Insights
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.
This Month - National Transaction Value ($bn) and Transaction Count
Targets in Arizona
Arizona - Transaction Value and Count by Month
Arizona — Business Sale Overview
Arizona’s M&A landscape in May 2025 showcased a robust market with 16 transactions across diverse sectors, totaling $2.69 billion in disclosed value. The Technology, Media & Telecommunications sector led with four deals, including Rocket Lab Corporation’s $330 million acquisition of GEOST, LLC from Chantilly, VA, to boost space technology expertise, and Stephen Medawar’s acquisition of LandHub.com from Tucson, AZ, to enter online land sales. Financials recorded two deals, with Lido Advisors, LLC’s acquisition of Copperwynd Financial, LLC from Scottsdale, AZ, expanding wealth management, and Avenir Financial Federal Credit Union’s agreement to acquire Mission Bank’s assets from Kingman, AZ, set to close in Q1 2026 to grow regional banking presence. Industrials dominated with six transactions, highlighted by The Sterling Group, L.P.’s acquisition of Pavement Preservation Group, Inc. from Tolleson, AZ, and Vance Brothers, LLC, forming a national platform, and J3 Construction, Inc.’s acquisition of Starkweather Roofing, Inc. from Cave Creek, AZ, to broaden construction capabilities.
The Consumer sector featured two notable deals, with TSG Consumer Partners, LP’s $1.5 billion agreement to acquire a majority stake in EOS Fitness Opco Holdings, LLC from New York, NY, pending regulatory approval to capitalize on fitness growth, and RHP Property AR, LLC’s $870 million acquisition of JW Marriott Phoenix Desert Ridge Resort & Spa from New York, NY, closing on June 10, 2025, to enhance hospitality. Real Estate saw Roofstock, Inc.’s majority stake acquisition in Casago International LLC from Scottsdale, AZ, with debt financing, to expand property management, while Materials included Arizona Gold & Silver Inc.’s $0.04 million acquisition of 10 mining claims from Denver, CO, to grow mining assets. This activity reflects Arizona’s strategic appeal for consolidation and growth, driven by technology, industrials, and consumer sectors.
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.
Copperwynd Financial, LLC (05/01/2025)
Lido Advisors, LLC acquired Copperwynd Financial, LLC on May 1, 2025 from Scottsdale, AZ, to expand its wealth management portfolio.
SSi, Inc. (05/01/2025)
NATA Compliance Services, LLC acquired SSi, Inc. on May 1, 2025 from Tucson, AZ, to enhance its aerospace compliance services.
K222AY-FX (03/01/2025)
Across Nations agreed to acquire K222AY-FX radio station on March 01, 2025 from Farmington, NM, subject to FCC approval, to broaden its broadcasting reach.
Banker Insulation, Inc. (05/08/2025)
Kinzler Construction Services, Inc. acquired Banker Insulation, Inc. on May 8, 2025 from Chandler, AZ, retaining its name and team, to strengthen its construction offerings.
Fountain Hills Real Estate Agents (05/09/2025)
Jenny Pinto acquired Fountain Hills Real Estate Agents on May 9, 2025 from Fountain Hills, AZ.
EOS Fitness Opco Holdings, LLC (05/12/2025)
TSG Consumer Partners, LP agreed to acquire a majority stake in EOS Fitness Opco Holdings, LLC on May 12, 2025 from New York, NY, valuing it at $1.5 billion including debt, with CEO Rich Drengberg continuing to lead, pending regulatory approval, to capitalize on the fitness industry growth.
Pavement Preservation Group, Inc. (05/15/2025)
The Sterling Group, L.P. acquired Pavement Preservation Group, Inc. on May 15, 2025 from Tolleson, AZ, and Vance Brothers, LLC, forming a national platform led by Darin Matson, to dominate the pavement preservation market.
Casago International LLC (05/19/2025)
Roofstock, Inc. acquired a majority stake in Casago International LLC on May 19, 2025 from Scottsdale, AZ, with debt financing from Coromandel Capital, to expand its property management services.
JW Marriott Desert Ridge Resort & Spa (05/19/2025)
RHP Property AR, LLC acquired JW Marriott Phoenix Desert Ridge Resort & Spa on May 19, 2025 from New York, NY for $870 million, with a $30 million cash deposit, financed by $625 million in senior notes and a stock offering, closing on June 10, 2025, to enhance its hospitality portfolio.
Starkweather Roofing, Inc. (05/20/2025)
J3 Construction, Inc. acquired Starkweather Roofing, Inc. on May 20, 2025 from Cave Creek, AZ, to broaden its construction capabilities.
Mayhem Applications, LLC (05/21/2025)
Stephen Medawar and a group of strategic advisors acquired LandHub.com on May 21, 2025 from Tucson, AZ, to enter the online land sales market.
GEOST, LLC (05/22/2025)
Rocket Lab Corporation agreed to acquire GEOST, LLC on May 22, 2025 from Chantilly, VA for $330 million, including $125 million cash and $150 million in equity, with a $50 million earnout, pending regulatory approval, to boost its space technology expertise.
10 Mining Claims (05/27/2025)
Arizona Gold & Silver Inc. acquired 10 mining claims on May 27, 2025 from Denver, CO for $0.04 million, to expand its mining assets.
Mission Bank (05/27/2025)
Avenir Financial Federal Credit Union agreed to acquire Mission Bank’s assets and liabilities on May 27, 2025 from Kingman, AZ, entering Mohave and Coconino Counties, set to close in Q1 2026, to grow its regional banking presence.
Mehall Contracting, LLC (05/28/2025)
Inframark, LLC acquired Mehall Contracting on May 28, 2025 from Chandler, AZ, to enhance its infrastructure services.
Yume Japanese Gardens of Tucson (05/28/2025)
Tucson Botanical Gardens, Inc. acquired Yume Japanese Gardens of Tucson on May 28, 2025 from Tucson, AZ, to expand its cultural and botanical offerings.
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 Deal Summaries — Business Sale Activity for M&A Buyers
M Love Vintage Holdings Inc. (05/01/2025)
Arowana Media Holdings, Inc. (Phoenix, AZ) acquired M Love Vintage Holdings Inc. on May 1, 2025, issuing 1,000,000 Convertible Series N Preferred Shares with a 4.9% ownership cap.
Seven Primary Care Clinics and Two Walk-in Locations of Village Medical (05/01/2025)
Banner Health (Phoenix, AZ) acquired Seven Primary Care Clinics and Two Walk-in Locations of Village Medical on May 1, 2025, adding 46 providers and over 150 staff to be rebranded as Banner Health.
Town and Country Sanitation, Inc./Peterson Sanitation, Inc. (05/01/2025)
Republic Services, Inc. (Phoenix, AZ) acquired Town and Country Sanitation, Inc. and Peterson Sanitation, Inc. on May 1, 2025.
Assets of Advanced Drywall Systems II, LLC (05/02/2025)
Paul Johnson Drywall, Inc. (Phoenix, AZ) acquired Assets of Advanced Drywall Systems II, LLC on May 2, 2025, with the entire team remaining with the buyer.
Epic River Healthcare, Inc. (05/06/2025)
Cash Flow Management, LLC (Gilbert, AZ) acquired Epic River Healthcare, Inc. on May 6, 2025, with founder Jeff Grobaski continuing as CEO.
WoodBoxBlanks (05/06/2025)
MakerFlo (Chandler, AZ) acquired WoodBoxBlanks on May 6, 2025.
Inglewood Express Car Wash (05/07/2025)
LUV Car Wash (Gilbert, AZ) acquired Inglewood Express Car Wash on May 7, 2025, increasing its locations to 77 nationwide.
Burlington Automotive, Inc. (05/08/2025)
Sun Auto Tire & Service Inc. (Tucson, AZ) acquired Burlington Automotive, Inc. on May 8, 2025.
0.5% NSR on Ferber Property (05/13/2025)
EMX Royalty Corporation unit Bronco Creek Exploration Inc. (Tucson, AZ) acquired 0.5% NSR on Ferber Property on May 13, 2025 for $1 million.
21 Local Publications of National Trust for Local News (05/13/2025)
Times Media Group (Tempe, AZ) agreed to acquire 21 Local Publications of National Trust for Local News on May 13, 2025, with the seller retaining seven publications.
BurnsBarton (05/13/2025)
Fennemore Craig Dowling Aaron (Phoenix, AZ) agreed to acquire BurnsBarton on May 13, 2025, expected to close on June 2, 2025.
Aetion, Inc. (05/15/2025)
Datavant, Inc. (Phoenix, AZ) signed an agreement to acquire Aetion, Inc. on May 15, 2025, creating a combined ecosystem of over 300 data partners.
Select Assets of Bonded Logic, Inc. (06/30/2025)
Carlisle Companies Incorporated (Scottsdale, AZ) acquired Select Assets of Bonded Logic, Inc. on May 15, 2025, with the deal closing on June 30, 2025.
Select Assets of Phoenix Fibers, LLC (06/30/2025)
Carlisle Companies Incorporated (Scottsdale, AZ) acquired Select Assets of Phoenix Fibers, LLC on May 15, 2025, with the deal closing on June 30, 2025.
Talage, Inc. (05/15/2025)
Mission Underwriting Managers, LLC (Scottsdale, AZ) acquired Talage, Inc. on May 15, 2025, with CEO Craig Fuher and his team joining the buyer.
Wastexperts, Inc. (05/19/2025)
Ally Waste Services, LLC (Gilbert, AZ) acquired Wastexperts, Inc. on May 19, 2025.
The Robert (05/20/2025)
PEM Real Estate Group, LLC (Phoenix, AZ) acquired The Robert for $50 million on May 20, 2025.
Fiber network assets of Conterra Networks (05/21/2025)
Wyyerd Group LLC (Surprise, AZ) acquired Fiber network assets of Conterra Networks on May 21, 2025.
Fiber network assets of Ting Fiber (05/21/2025)
Wyyerd Group LLC (Surprise, AZ) acquired Fiber network assets of Ting Fiber on May 21, 2025.
Substantially all assets, properties, and rights related to the business of Dona (04/30/2025)
Ashton Thomas Private Wealth, LLC (Scottsdale, AZ) entered into a definitive agreement to acquire substantially all assets, properties, and rights related to the business of Donald L. Hagan, LLC on April 30, 2025, with a new advisory agreement pending shareholder approval on July 1, 2025.
C4 Fabrication LLC (05/27/2025)
Horsepower Automotive Group, LLC (Mesa, AZ) acquired C4 Fabrication, LLC on May 27, 2025.
Mission Bank (05/27/2025)
Avenir Financial Federal Credit Union (Yuma, AZ) entered into definitive agreement to acquire substantially all assets and all liabilities of Mission Bank on May 27, 2025, entering Mohave and Coconino Counties, set to close in Q1 2026.
Yume Japanese Gardens of Tucson (05/28/2025)
Tucson Botanical Gardens, Inc. (Tucson, AZ) acquired Yume Japanese Gardens of Tucson on May 28, 2025.
M&A Segmentation — Glossary:
M&A – Whole: The acquisition of 100% ownership of a target company, giving the buyer full control.
M&A – Asset: The purchase of specific assets, such as mineral rights or property, without acquiring the entire company.
M&A – Minority: The acquisition of a non-controlling stake, typically under 50%.
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:
Transaction Value: Represents the total consideration paid for a transaction, including net debt only if assumed, capturing the full financial scope of the deal.
Deal Value: Focuses solely on the consideration paid for the equity acquired, excluding net debt, to reflect the cost of ownership.
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.
Implied Equity Value: Isolates the equity portion, representing 100% of the target’s equity value, enabling a clear equity-to-equity comparison across transactions.
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