Q1 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.
Q1 Transaction Value ($mm) and Transaction Count
Overview
In the first quarter of 2025, Arizona recorded 45 M&A transactions, reflecting a robust start to the year across diverse sectors including technology, materials, consumer, industrials, and healthcare. The dataset highlights 36 completed deals and 9 announced transactions, with notable activity in technology (e.g., Ubiqconn Technology’s $7 million acquisition of E3 Displays, LLC) and mining (e.g., Royal Gold Inc.’s $55 million purchase of a 2.5% NSR on the Cactus Project). Deal values, where disclosed, ranged from $0.004 million for a broadcasting asset to $58 million for BroadPath, LLC, with total reported value across 14 deals reaching approximately $258 million. Private equity backed 10 transactions, and cross-border deals involved buyers from Canada and Australia, underscoring Arizona’s appeal as a hub for both domestic and international investors in Q1 2025.
X / Y Plot By Sector & Primary Industry
M&A 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.
M&A Segmentation
Sector Breakdown
Deal Descriptions in Chronological Order by Announced Date
Restroom Trailer For Sale (Announced: January 3, 2025)
Elk Creek Trailers LLC purchased RestroomTrailerForSale.com, a specialty trailer business, on January 3, 2025. The acquisition strengthens Elk Creek’s portfolio in the niche trailer market. The deal was finalized swiftly, marking a strategic expansion for the buyer.
1% of BCE net smelter royalty (Announced: January 6, 2025)
Arizona Sonoran Copper Company Inc. acquired a 1% net smelter royalty on the Bronco Creek Exploration parcel for $0.5 million on January 6, 2025. The deal enhances the company’s control over its copper assets in Arizona. The seller’s identity was not disclosed.
ADERO Scottsdale Resort (Announced: January 7, 2025)
LionGrove, LLC bought the ADERO Scottsdale Resort for $57.5 million on January 7, 2025. The acquisition adds a luxury hospitality asset to LionGrove’s portfolio. The deal was completed on the same day, reflecting a rapid transaction process.
Arrivia, Inc. (Announced: January 7, 2025)
A group led by Oaktree Capital Management, L.P. acquired Arrivia, Inc., a travel and leisure company, from 3i Group plc and others on January 7, 2025. The deal bolsters Oaktree’s presence in the consumer services sector. The transaction was finalized promptly.
Chula Vista Landscaping, Inc. (Announced: January 7, 2025)
Verde Equity Partners LP acquired Chula Vista Landscaping, Inc. on January 7, 2025, retaining its brand and leadership. The deal provides Chula Vista with Verde’s resources and capital for growth. Barnes & Thornburg LLP advised Verde during the transaction.
OmniScript Compounding, LLC (Announced: January 7, 2025)
Revelation Pharma Corp. purchased OmniScript Compounding from AleraCare Holdings, LLC on January 7, 2025. The acquired pharmacy operations will be rebranded but retain existing staff for continuity. The deal strengthens Revelation’s position in pharmaceutical services.
Ripsey West Copper Project (Announced: January 7, 2025)
Pacific Ridge Exploration Ltd. agreed to acquire the Ripsey West copper project from EMX Royalty Corporation for $3.759 million on January 7, 2025. The 2,161-hectare asset lies 23 km south of Arizona’s Ray Mine. The deal is set to close in January 2030, pending conditions.
Yerbaé Brands Corp. (Announced: January 7, 2025)
Safety Shot, Inc. signed an agreement to acquire Yerbaé Brands Corp. for $14.5 million on January 7, 2025, with Yerbaé shareholders receiving Safety Shot shares. The transaction, expected to close in Q2 2025, will merge the companies’ beverage operations. Both boards approved the deal, subject to shareholder and regulatory approvals.
Concord Servicing LLC (Announced: January 8, 2025)
GTCR LLC acquired Concord Servicing LLC from Inverness Graham Investments on January 8, 2025, with Baird Financial Group advising GTCR. Dhruv Vakharia joined as CEO to drive growth, while the former CEO transitioned to the board. The deal enhances GTCR’s portfolio in commercial services.
One EBS Wireless License (Announced: January 8, 2025)
Nextel West Corp., a T-Mobile US, Inc. unit, agreed to acquire an EBS wireless license from First Baptist Christian Academy on January 2, 2025. The transaction, pending FCC approval, supports T-Mobile’s spectrum expansion. Terms of the deal were not disclosed.
Cornerstone Properties, Inc. (Announced: January 9, 2025)
Inframark, LLC acquired Cornerstone Properties, Inc. on January 9, 2025. The deal expands Inframark’s real estate and infrastructure management holdings. The transaction was completed swiftly, aligning with Inframark’s growth strategy.
Revolution Industrial, LLC (Announced: January 9, 2025)
Loenbro, LLC purchased Revolution Industrial, LLC, a construction and engineering firm, on January 9, 2025. The acquisition strengthens Loenbro’s industrial services capabilities. Details of the deal terms were not disclosed.
Mineral rights of Corral Project (Announced: January 15, 2025)
An investor group, including Rio Tinto and Ivanhoe Electric, acquired the mineral rights of the Corral Copper Project from Intrepid Metals Corp on January 15, 2025. The deal enhances the group’s copper asset portfolio in Arizona. The transaction was completed on the same day.
Azteca Bakeries, Inc. (Announced: January 16, 2025)
Sweetmore Bakeries acquired Azteca Bakeries, Inc. on January 16, 2025, expanding its premium product offerings. The deal bolsters Sweetmore’s presence in retail and foodservice channels. The acquisition was finalized promptly.
SYNERGY HomeCare Franchising, LLC (Announced: January 21, 2025)
Levine Leichtman Capital Partners’ fund and SYNERGY’s management acquired SYNERGY HomeCare Franchising, LLC from NexPhase Capital on January 21, 2025. The deal, financed by Apogem Capital, retains SYNERGY’s leadership team. Houlihan Lokey and Baird advised SYNERGY during the transaction.
Modern Transport Solutions (Announced: January 23, 2025)
Atomic Transport, LLC acquired Modern Transport Solutions, a logistics firm, on January 23, 2025. The deal, structured as a leveraged buyout, enhances Atomic’s transportation network. The transaction was completed on the same day.
Battery Storage Project (Announced: January 27, 2025)
GridStor LLC acquired a 100 MW/400 MWh battery storage project in Arizona from Capacity Power Group LLC on January 27, 2025. The deal supports GridStor’s renewable energy expansion. Terms of the acquisition were not disclosed.
CIM Real Estate Finance Trust, Inc. (Announced: January 27, 2025)
Comrit Investments 1 LP agreed to acquire a 3.3% stake in CIM Real Estate Finance Trust for $52.2 million on January 27, 2025. The offer, funding the purchase of up to 14.3 million shares at $3.65 each, expires on March 26, 2025. Holland & Hart LLP and Morris, Manning & Martin, LLP advised the parties.
BroadPath, LLC (Announced: January 29, 2025)
Sagility LLC acquired BroadPath, LLC for INR 5.02 billion ($58 million) on January 29, 2025. The deal, accretive to earnings, adds BroadPath’s 1,600 employees to Sagility’s healthcare services portfolio. The acquisition was completed on the same day.
Four FM and Two AM Stations (Announced: January 31, 2025)
Simcast Digital LLC agreed to acquire four FM and two AM radio stations from Petracom Of Holbrook, LLC for $0.6 million on January 31, 2025. The deal, pending FCC approval, was advised by M C H Enterprises and Smithwick & Belendiuk, PC. The acquisition supports Simcast’s media expansion.
Terrascape Consulting, LLC (Announced: February 4, 2025)
Atwell, LLC acquired Terrascape Consulting, LLC, a construction and engineering firm, on February 4, 2025. The deal enhances Atwell’s capabilities in industrial project development. The transaction was finalized promptly.
Honeywell Aerospace Inc. (Announced: February 6, 2025)
Honeywell International Inc. agreed to spin off Honeywell Aerospace Inc. on February 6, 2025, with completion expected by mid-2026. The tax-free separation, advised by Goldman Sachs and Skadden, Arps, requires SEC and regulatory approvals. The deal aims to unlock value for shareholders.
General Acrylics, Inc. (Announced: February 11, 2025)
AstroTurf, LLC acquired General Acrylics, Inc. from Jonnie Deremo on February 11, 2025. The deal strengthens AstroTurf’s construction and engineering offerings. The transaction was completed on the same day.
Zonia Project (Announced: February 12, 2025)
An undisclosed buyer signed a letter of intent to acquire the Zonia Project from World Copper Ltd. for CAD 26 million on February 12, 2025. The payment includes CAD 8 million at closing, with additional installments over 30 months. The deal, subject to due diligence, includes a $75,000 break fee if terminated.
2.5% NSR On Cactus Project (Announced: February 13, 2025)
Royal Gold Inc.’s unit, RG Royalties LLC, acquired a 2.5% net smelter royalty on the Cactus Project for $55 million on February 13, 2025. The deal, purchased from Tembo Capital Management, enhances Royal Gold’s mining portfolio. The transaction was completed swiftly.
Esanelle LLC (Announced: February 14, 2025)
Status Pros IT Services and Consulting acquired Esanelle on February 14, 2025, opening a new office in Tempe, AZ. The deal expands Status Pros’ IT consulting capabilities. The acquisition was finalized on the same day.
AudiencePlus, Inc. (Announced: February 18, 2025)
The Juice HQ acquired AudiencePlus, Inc. from High Alpha, Inc. on February 18, 2025, operating under the AudiencePlus brand. Jonathan Gandolf will lead the combined software company. The deal strengthens The Juice’s market position.
Additional 113 Lode Claims (Announced: February 19, 2025)
West Point Gold Corp. acquired 113 lode claims for its Gold Chain Project in Arizona through a staking transaction on February 19, 2025. The deal, from an undisclosed seller, expands West Point’s gold asset portfolio. The transaction was completed promptly.
Connexion Technology LLC (Announced: February 19, 2025)
Ionic Partners, LLC acquired CXT Software, a technology firm, on February 19, 2025. The deal enhances Ionic’s software solutions portfolio. Terms of the acquisition were not disclosed.
Durant's Fine Foods Inc. (Announced: February 26, 2025)
The Mastro family acquired Durant’s Fine Foods Inc. from Jack and Carol McElroy on February 26, 2025. The deal transitions ownership of the restaurant business. The transaction was completed on the same day.
Alamo Property (Announced: February 28, 2025)
Silver Range Resources Ltd. acquired the Alamo Property in Arizona through a staking transaction in February 2025. The deal, from an undisclosed seller, expands Silver Range’s copper asset holdings. The transaction was completed in February 2025.
bluemedia, Inc. (Announced: March 3, 2025)
Wasserman Media Group, LLC acquired bluemedia, Inc., an advertising firm, on March 3, 2025. The deal strengthens Wasserman’s media and entertainment portfolio. The transaction was finalized swiftly.
Denmark Sausage, LLC (Announced: March 3, 2025)
Premium Brands Holdings Corporation acquired Denmark Sausage Co. for $20.8 million on March 3, 2025, paying $15.7 million in cash and issuing shares. The deal, advised by Generational Group, expands Premium Brands’ packaged food offerings. The acquisition was completed after an agreement signed in September 2024.
WANRack's Phoenix Business (Announced: March 4, 2025)
Cablevision Lightpath LLC, an Altice USA unit, acquired WANRack’s Phoenix Business, including 133 miles of fiber, from CBRE Group on March 4, 2025. The deal accelerates Lightpath’s expansion in Arizona’s data center market. The transaction was completed promptly.
Ab Staffing Solutions, LLC (Announced: March 5, 2025)
Prime Time Healthcare, LLC acquired Ab Staffing Solutions, LLC on March 5, 2025, rebranding as Fortis Healthcare Solutions. The deal integrates Ab Staffing into Fortis’ healthcare staffing portfolio. The acquisition was finalized on the same day.
Prosports Technologies, LLC (Announced: March 10, 2025)
IQMIND, Inc. acquired Prosports Technologies, LLC, an electronics firm, on March 10, 2025. The deal enhances IQMIND’s technology offerings. The transaction was completed swiftly.
1606 Corp. (Announced: March 11, 2025)
A private group led by Jon Garfield and Chuck Arnold agreed to acquire a stake in 1606 Corp. for $1 million on March 11, 2025. The deal, pending due diligence and regulatory approvals, retains 1606 Corp.’s key management. The transaction is expected to close soon.
E3 Displays LLC (Announced: March 12, 2025)
Ubiqconn Technology (USA) Inc. acquired E3 Displays, LLC for $7 million on March 12, 2025. E3 Displays will operate independently, leveraging Ubiqconn’s global resources. The deal strengthens Ubiqconn’s electronic components portfolio.
Herman Cx, LLC (Announced: March 12, 2025)
NV5 Global, Inc. acquired Herman Cx, LLC on March 12, 2025. The deal expands NV5’s portfolio in unclassified services. The transaction was completed on the same day.
Advantage Retirement Solutions, LLC (Announced: March 13, 2025)
An investor group including Athene Holding Ltd. and Apollo Global Management acquired Advantage Retirement Solutions, LLC on March 13, 2025. The deal, advised by Sidley, strengthens the group’s financial services portfolio. The transaction was completed swiftly.
Bennett Family Medicine (Announced: March 25, 2025)
Optima Medical, LLC acquired Bennett Family Medicine on March 25, 2025. The deal expands Optima’s healthcare service offerings in Arizona. The transaction was finalized on the same day.
Harold's Restaurant LLC (Announced: March 26, 2025)
Jim and Kris Ziebart, with co-owners Danny and Meri Piacquadio, acquired Harold’s Restaurant LLC from Bill and Marie Vale on March 26, 2025. The deal transitions ownership of the Cave Creek restaurant. The acquisition was completed promptly.
KMKR-LP (Announced: March 28, 2025)
Here’s To Your Health Radio agreed to acquire KMKR-LP, a broadcasting asset, from Xerocraft Inc. for $0.0038 million on December 28, 2024. The deal, pending FCC approval, supports the buyer’s media expansion. The transaction was announced on March 28, 2025.
White Hills copper-gold project (Announced: March 28, 2025)
Helix Resources Limited signed a definitive agreement to acquire the White Hills copper-gold project for A$0.2 million on March 28, 2025. The deal, following a February 2025 letter of intent, expands Helix’s Arizona mining assets. The seller’s identity was not disclosed.
Vero Amore, LLC (Announced: March 31, 2025)
Jimmy Aujla acquired Vero Amore from JAM Culinary Concepts on March 31, 2025, renaming it AMORE. The deal transitions ownership of the restaurant business. The transaction was completed on the same day.
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