Q3 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 Quarter - National Transaction Value ($bn) and Transaction Count
Targets in Arizona
Arizona - Transaction Value and Count
Arizona — Business Sale Overview
Arizona’s M&A market in Q3 2025 recorded 49 disclosed transactions with an aggregate announced value of approximately $4.7 billion, underscoring a sharp rebound in deal volume and capital deployment across the state. The quarter reflected renewed confidence among both strategic acquirers and financial sponsors, with activity spanning industrial services, technology, healthcare, real estate, and natural resources.
Key highlights included TopBuild Corp.’s acquisition of Progressive Services, Inc. from Bow River Asset Management LLC, reinforcing private equity participation in the state’s construction and building services ecosystem. In technology and data analytics, iWave Information Systems Inc. acquired Affinaquest, LLC from Scottsdale to expand its CRM and donor intelligence capabilities, while Revelyst, Inc. purchased GolfLogix, Inc. to enhance its digital sports portfolio. Doorvest Inc. continued to scale its residential investment platform through the acquisition of Wreno Home Services LLC, while Finch, LLC’s purchase of The Wizard Marketing Group, LLC highlighted ongoing marketing and digital agency consolidation.
Mining and materials transactions remained a defining theme, with Intrepid Metals Corp. acquiring additional mineral rights at the Corral Property, Prismo Metals Inc. expanding through multiple property acquisitions including Ripsey Mine and Silver King Mine, and Globex Mining Enterprises Inc. securing further claims on the Salt Spring Project. These transactions reinforced Arizona’s continued position as a national hub for critical mineral investment and exploration.
Broader cross-sector activity included Starwood Property Trust’s purchase of Fundamental Income Properties LLC, further extending institutional capital into the state’s income-producing real estate market, and Keystone Agency Investors LLC’s acquisition of a regional insurance agency, reflecting steady consolidation among service-based businesses. Healthcare also featured prominently, with Arizona Gynecology Consultants acquiring Gynecology Today, PLLC to broaden patient access and consolidate specialty practices statewide.
Overall, Q3’s activity demonstrated Arizona’s ongoing appeal for both domestic and cross-border acquirers seeking exposure to growth markets across the Southwest. Transaction diversity—from advanced manufacturing and property services to mining and healthcare—continues to reflect the state’s balanced economic composition and its emergence as a favored middle-market investment corridor heading into Q4 2025.
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. Gynecology Today, PLLC (07/01/2025)
Arizona Gynecology Consultants acquired Gynecology Today, PLLC from Phoenix, AZ, bolstering its local presence in women’s health services.2. Kiterocket, LLC (07/01/2025)
Southwest Strategies LLC acquired Kiterocket, LLC from Phoenix, AZ, adding new business lines in technology and sustainable living to its advertising portfolio.3. Undisclosed insurance agency (07/01/2025)
Keystone Agency Investors, LLC acquired an undisclosed insurance agency from AZ, expanding its insurance brokerage operations.4. Additional Mineral Rights at Corral Property (07/02/2025)
Intrepid Metals Corp. acquired Additional Mineral Rights at Corral Property from AZ, enhancing its copper mining assets through state leases and claims.5. Ripsey Mine (07/03/2025)
Prismo Metals Inc. entered into an option agreement to acquire Ripsey Mine from AZ for $1.1 million, targeting gold exploration opportunities.6. Silver King Mine (07/03/2025)
Prismo Metals Inc. entered into an earn-in and joint venture agreement to acquire interest in Silver King Mine from AZ for $1.28 million, aiming to develop silver resources over five years.7. Progressive Services, Inc. (07/08/2025)
TopBuild Corp. acquired Progressive Services, Inc. from Phoenix, AZ for $810 million, strengthening its construction and engineering services with added revenue and workforce.8. Golflogix, Inc. (07/09/2025)
Revelyst, Inc. acquired Golflogix, Inc. from Scottsdale, AZ, expanding its application software offerings in the golf industry.9. The Wizard Marketing Group, LLC (07/09/2025)
Finch, LLC acquired The Wizard Marketing Group, LLC from Maricopa, AZ, integrating its team to enhance advertising capabilities.10. Wreno Home Services LLC (07/15/2025)
Doorvest Inc. acquired Wreno Home Services LLC from Scottsdale, AZ, bolstering its application software for home services.11. Fundamental Income Properties, LLC (07/16/2025)
Starwood Property Trust, Inc. acquired Fundamental Income Properties, LLC from Phoenix, AZ for $2.2 billion, accretive to earnings in asset management.12. 40 claims of Salt Spring Project (07/23/2025)
Globex Mining Enterprises Inc. acquired 40 claims of Salt Spring Project from AZ through staking, supporting its gold mining expansion.13. King Tut Mine (07/23/2025)
Silver Bullet Mines Corp. acquired King Tut Mine from AZ, advancing its gold mining portfolio without finder’s fees.14. Affinaquest, LLC (07/24/2025)
iWave Information Systems Inc. acquired Affinaquest, LLC from Scottsdale, AZ, enhancing its application software for information systems.15. ExpanDrive LLC (07/24/2025)
Action Verb LLC acquired ExpanDrive LLC from Tempe, AZ, introducing a freemium model for its internet services and infrastructure.16. iMemories, LLC (07/30/2025)
Ancestry.com LLC acquired iMemories, LLC from Scottsdale, AZ, expanding its application software for digital memory preservation.17. Green Planet Insurance, LLC (07/31/2025)
Inszone Insurance Services, Inc. acquired Green Planet Insurance, LLC from Sun City West, AZ, strengthening its property and casualty insurance offerings.18. Manwaring Wealth Management LLC (07/31/2025)
Wealth Enhancement Group, LLC acquired Manwaring Wealth Management LLC from Gilbert, AZ, growing its asset management platform.19. CommunityLTE, LLC (08/01/2025)
The Ponderosa Telephone Co. acquired CommunityLTE, LLC from AZ, expanding its unclassified telecommunications services.20. Maverick Petroleum Services, Inc. (08/01/2025)
JF Acquisition, LLC acquired Maverick Petroleum Services, Inc. from Avondale, AZ, integrating its team for oil and gas refining and marketing.21. Mining Claims (08/05/2025)
Bocana Resources Corp. entered into a letter of intent to acquire interest in Mining Claims from AZ for $27.5 million, pursuing gold development as a fundamental acquisition.22. Desert Platinum Properties, LLC dba Platinum Living Realty (08/06/2025)
Engel & Völkers Scottsdale acquired Desert Platinum Properties, LLC dba Platinum Living Realty from Scottsdale, AZ, enhancing its real estate operating and management services.23. Viewsite Claims (08/06/2025)
Intrepid Metals Corp. acquired Viewsite Claims from AZ for $0.475 million, bolstering its copper mining assets near existing claims.24. KinetX Aerospace, Inc. (08/07/2025)
Intuitive Machines, Inc. acquired KinetX Aerospace, Inc. from Tempe, AZ for $30 million, strengthening its aerospace and defense capabilities.25. Transco.Energy, LLC (08/11/2025)
Electrical Consultants, Inc. acquired Transco.Energy, LLC from Tempe, AZ, expanding its construction and engineering services in energy.26. Focus HR, Inc. (08/12/2025)
Digital Insurance, LLC acquired Focus HR, Inc. from Tucson, AZ, enhancing its human resource and employment services.27. AleraCare Holdings, LLC (08/13/2025)
PURE Healthcare, LLC entered into a definitive merger agreement to acquire AleraCare Holdings, LLC from Phoenix, AZ, aiming to close in Q4 2025 for health care services growth.28. Copper World LLC (08/13/2025)
Mitsubishi Corporation (Americas) agreed to acquire a 30% stake in Copper World LLC from Tucson, AZ for $600 million, supporting copper project development with expected close in late 2025 or early 2026.29. ForzaCare (08/13/2025)
Ethos Risk Services, LLC acquired ForzaCare from Mesa, AZ, expanding its health care services offerings.30. Huss Brewing Company, LLC (08/13/2025)
PHX Beer Co acquired Huss Brewing Company, LLC from Tempe, AZ, forming Zonafide Beverages LLC to strengthen its beer and malt liquor brewing.31. Community Asset Management, LLC (08/20/2025)
Community Management Holdings, Inc. acquired Community Asset Management, LLC from Prescott, AZ, expanding its real estate management to serve nearly half a million households.32. Paradox, Inc. (08/21/2025)
Workday, Inc. acquired remaining majority stake in Paradox, Inc. from Scottsdale, AZ for $1 billion, enhancing its application software with expected close by October 31, 2025.33. Ultra Financial Partners LLC (08/21/2025)
Mariner, LLC agreed to acquire Ultra Financial Partners LLC from Scottsdale, AZ, integrating offices for asset management growth with close on September 30, 2025.34. Decon Water Technologies, LLC (08/22/2025)
Rochester Midland Corporation acquired Decon Water Technologies, LLC from Phoenix, AZ, bolstering its environmental and facilities services.35. Alvarado Gold Mine (08/27/2025)
NOHO, Inc. agreed to acquire a 51% stake in Alvarado Gold Mine from AZ, targeting gold mining expansion.36. Galloway Asset Management, LLC (08/29/2025)
Modern Wealth Management, LLC acquired Galloway Asset Management, LLC from Mesa, AZ, strengthening its asset management for public safety financial services.37. Keystroke Data, Inc. (08/29/2025)
BravoTran, Inc. acquired Keystroke Data, Inc. from Phoenix, AZ, enhancing its application software capabilities.38. Evernorth Care Group (09/02/2025)
HonorHealth Foundation agreed to acquire Evernorth Care Group from Phoenix, AZ, expanding its health care services.39. K254CB-FX (09/02/2025)
Advance Ministries, Inc. agreed to acquire K254CB-FX from AZ, pending FCC approval for broadcasting operations.40. Visionmakers International LLC (09/02/2025)
BizGro Partners acquired Visionmakers International LLC from Mesa, AZ, bolstering its construction and engineering portfolio.41. iJoin Success (09/09/2025)
Broadridge Financial Solutions, Inc. acquired iJoin Success from AZ, enhancing its data processing and outsourced services.42. Arizona PPE Recon, Inc. (09/15/2025)
Lakeland Industries, Inc. acquired Arizona PPE Recon, Inc. from Tempe, AZ for $4 million, expanding specialized consumer services in protective equipment.43. JOBLYT LLC (09/15/2025)
EverCommerce Inc. acquired JOBLYT LLC from Phoenix, AZ, integrating its team to strengthen application software offerings.44. Nations Group, LLC (09/17/2025)
Legends Global acquired Nations Group, LLC from Scottsdale, AZ, enhancing its construction and engineering services.45. 100 MW / 400 MWh White Tank Battery Storage Project (09/18/2025)
GridStor LLC acquired 100 MW / 400 MWh White Tank Battery Storage Project from AZ, bolstering its renewable electricity infrastructure.46. Park Glacier Inc (09/23/2025)
Pursuit Attractions and Hospitality, Inc. acquired remaining 20% stake in Park Glacier Inc from Phoenix, AZ for $13 million, consolidating office services and supplies.47. Southwest Barricades, LLC (09/23/2025)
Right Traffic acquired Southwest Barricades, LLC from Phoenix, AZ, expanding its construction and engineering services.48. Argus Professional Storage Management, LLC (09/24/2025)
SmartStop Self Storage REIT, Inc. acquired Argus Professional Storage Management, LLC from AZ for $19.5 million, enhancing real estate services with expected close in early October 2025.49. Modern Recovery, LLC (09/25/2025)
BrentCare Behavioral Health acquired Modern Recovery, LLC from Tempe, AZ, strengthening its health care services 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 Business Acquisition Overview (Buyers)
Arizona-based acquirers were unusually assertive in Q3 2025, executing 56 transactions that spanned software, healthcare, construction, and natural resources. Activity centered around Phoenix and Scottsdale financial sponsors—Osaic, Mariner, and Modern Wealth Management—who used add-on acquisitions to deepen their wealth, insurance, and business-services platforms. The state’s technology sector was equally acquisitive, with Virtuous, Kinective, and Broadridge each extending their software ecosystems through targeted bolt-ons, while names like Workday and iWave absorbed local SaaS operators to reinforce product depth. Industrial and real-asset buyers, including GridStor, Cavco, and Starwood Property Trust, pursued large-scale investments across housing, energy, and storage infrastructure, marking a shift toward balance-sheet deployment. Even smaller regional operators—Sun Auto Tire, LUV Car Wash, and Creative Brands—remained active, stringing together roll-ups that signal continued optimism in consumer and service segments. Altogether, the quarter reflected a confident in-state buyer base using M&A to extend reach, modernize platforms, and position Arizona as a durable center of middle-market dealmaking.
Arizona M&A Deal Summaries — Business Sale Activity for M&A Buyers
1. Gynecology Today, PLLC (07/01/2025)
Arizona Gynecology Consultants (Phoenix, AZ) acquired Gynecology Today, PLLC from Phoenix, AZ. The combination strengthens a leading women’s-health network across metro Phoenix, adding new patient volume and specialty capacity.
2. Kiterocket, LLC (07/01/2025)
Southwest Strategies LLC (Phoenix, AZ) acquired Kiterocket, LLC from Phoenix, AZ. The move unites two marketing agencies focused on technology and sustainability, broadening regional communications reach.
3. Undisclosed Insurance Agency (07/01/2025)
Keystone Agency Investors, LLC (Scottsdale, AZ) acquired an undisclosed insurance agency from Arizona. The deal expands Keystone’s footprint in the Southwest independent-brokerage market.
4. Additional Mineral Rights at Corral Property (07/02/2025)
Intrepid Metals Corp (Tucson, AZ) acquired additional mineral rights at Corral Property from Arizona. The acquisition extends its copper holdings in Cochise County and supports ongoing exploration programs.
5. Ripsey Mine (07/03/2025)
Prismo Metals Inc. (Tucson, AZ) entered an option agreement to acquire Ripsey Mine from Arizona for $1.1 million. The transaction advances gold-exploration activity in southern Arizona’s historic Pinal County belt.
6. Silver King Mine (07/03/2025)
Prismo Metals Inc. (Tucson, AZ) entered a joint-venture earn-in to acquire interest in Silver King Mine from Arizona for $1.28 million. The project provides multi-year optionality around high-grade silver development.
7. Progressive Services, Inc. (07/08/2025)
TopBuild Corp (Scottsdale, AZ) acquired Progressive Services, Inc. from Phoenix, AZ for $810 million. The deal strengthens its construction-services division with scale efficiencies and a larger skilled workforce.
8. Golflogix, Inc. (07/09/2025)
Revelyst, Inc. (Phoenix, AZ) acquired Golflogix, Inc. from Scottsdale, AZ. The acquisition deepens Revelyst’s sports-tech portfolio and positions it in data-driven golf-performance software.
9. The Wizard Marketing Group, LLC (07/09/2025)
Finch, LLC (Phoenix, AZ) acquired The Wizard Marketing Group, LLC from Maricopa, AZ. The integration enhances Finch’s creative-services bandwidth and digital-advertising execution.
10. Wreno Home Services LLC (07/15/2025)
Doorvest Inc. (Phoenix, AZ) acquired Wreno Home Services LLC from Scottsdale, AZ. The acquisition supports Doorvest’s property-management automation strategy and expands its home-improvement network.
11. Fundamental Income Properties, LLC (07/16/2025)
Starwood Property Trust, Inc. (Scottsdale, AZ) acquired Fundamental Income Properties, LLC from Phoenix, AZ for $2.2 billion. The transaction anchors Starwood’s expansion into triple-net lease assets across the Sunbelt.
12. 40 Claims of Salt Spring Project (07/23/2025)
Globex Mining Enterprises Inc. (Phoenix, AZ) acquired 40 claims of Salt Spring Project from Arizona through staking. The claims increase its gold-resource base and strengthen future exploration pipeline value.
13. King Tut Mine (07/23/2025)
Silver Bullet Mines Corp. (Phoenix, AZ) acquired King Tut Mine from Arizona. The purchase advances near-term production goals and consolidates ownership of legacy mineral properties.
14. Affinaquest, LLC (07/24/2025)
iWave Information Systems Inc. (Scottsdale, AZ) acquired Affinaquest, LLC from Scottsdale, AZ. The acquisition enhances its SaaS data-insights platform serving nonprofit and institutional clients.
15. ExpanDrive LLC (07/24/2025)
Action Verb LLC (Tempe, AZ) acquired ExpanDrive LLC from Tempe, AZ. The deal expands its suite of cloud-storage utilities and improves recurring-revenue visibility.
16. iMemories, LLC (07/30/2025)
Ancestry.com LLC (Scottsdale, AZ) acquired iMemories, LLC from Scottsdale, AZ. The integration adds digital-preservation capabilities and supports a broader consumer-archive offering.
17. Green Planet Insurance, LLC (07/31/2025)
Inszone Insurance Services, Inc. (Phoenix, AZ) acquired Green Planet Insurance, LLC from Sun City West, AZ. The acquisition strengthens its property-and-casualty franchise in the retirement corridor.
18. Manwaring Wealth Management LLC (07/31/2025)
Wealth Enhancement Group, LLC (Scottsdale, AZ) acquired Manwaring Wealth Management LLC from Gilbert, AZ. The deal increases advisory assets and adds a seasoned client-service team in East Valley markets.
19. CommunityLTE, LLC (08/01/2025)
The Ponderosa Telephone Co. (Phoenix, AZ) acquired CommunityLTE, LLC from Arizona. The transaction expands broadband access in rural service areas through shared-spectrum deployment.
20. Maverick Petroleum Services, Inc. (08/01/2025)
JF Acquisition, LLC (Phoenix, AZ) acquired Maverick Petroleum Services, Inc. from Avondale, AZ. The purchase adds downstream logistics capacity and vertical integration for regional fuel marketing.
21. Mining Claims (08/05/2025)
Bocana Resources Corp (Phoenix, AZ) entered a letter of intent to acquire interest in Mining Claims from Arizona for $27.5 million. The agreement marks an important step in diversifying its exploration portfolio toward gold and critical-metal development.
22. Desert Platinum Properties, LLC dba Platinum Living Realty (08/06/2025)
Engel & Völkers Scottsdale (Scottsdale, AZ) acquired Desert Platinum Properties, LLC dba Platinum Living Realty from Scottsdale, AZ. The deal strengthens Engel & Völkers’ footprint in the luxury-residential brokerage market across metro Phoenix.
23. Viewsite Claims (08/06/2025)
Intrepid Metals Corp (Tucson, AZ) acquired Viewsite Claims from Arizona for $0.475 million. The acquisition consolidates its copper positions around the Cactus and Corral projects, improving future production continuity.
24. KinetX Aerospace, Inc. (08/07/2025)
Intuitive Machines, Inc. (Phoenix, AZ) acquired KinetX Aerospace, Inc. from Tempe, AZ for $30 million. The transaction advances its deep-space navigation and satellite-engineering capabilities within Arizona’s growing aerospace corridor.
25. Transco.Energy, LLC (08/11/2025)
Electrical Consultants, Inc. (Phoenix, AZ) acquired Transco.Energy, LLC from Tempe, AZ. The addition broadens its high-voltage design and construction services for Western-U.S. utilities.
26. Focus HR, Inc. (08/12/2025)
Digital Insurance, LLC (Scottsdale, AZ) acquired Focus HR, Inc. from Tucson, AZ. The combination expands its employee-benefits platform and strengthens back-office HR outsourcing for small businesses statewide.
27. AleraCare Holdings, LLC (08/13/2025)
PURE Healthcare, LLC (Phoenix, AZ) entered a definitive merger agreement to acquire AleraCare Holdings, LLC from Phoenix, AZ. The merger is expected to close in Q4 2025, forming one of the region’s largest integrated home-health and post-acute care networks.
28. Copper World LLC (08/13/2025)
Mitsubishi Corporation (Americas) (Phoenix, AZ) agreed to acquire a 30 % stake in Copper World LLC from Tucson, AZ for $600 million. The partnership provides long-term capital to advance copper production and strengthen U.S. supply-chain resilience.
29. ForzaCare (08/13/2025)
Ethos Risk Services, LLC (Phoenix, AZ) acquired ForzaCare from Mesa, AZ. The acquisition extends its health-care compliance and risk-management solutions.
30. Huss Brewing Company, LLC (08/13/2025)
PHX Beer Co (Scottsdale, AZ) acquired Huss Brewing Company, LLC from Tempe, AZ. The combined entity, Zonafide Beverages LLC, creates one of Arizona’s largest independent craft-beer platforms.
31. Community Asset Management, LLC (08/20/2025)
Community Management Holdings, Inc. (Phoenix, AZ) acquired Community Asset Management, LLC from Prescott, AZ. The deal expands its property-management portfolio to nearly half a million units statewide.
32. Paradox, Inc. (08/21/2025)
Workday, Inc. (Scottsdale, AZ) acquired a majority stake in Paradox, Inc. from Scottsdale, AZ for $1 billion. The acquisition adds AI-driven recruitment technology and deepens Workday’s human-capital software capabilities.
33. Ultra Financial Partners LLC (08/21/2025)
Mariner, LLC (Scottsdale, AZ) agreed to acquire Ultra Financial Partners LLC from Scottsdale, AZ. The combination integrates two wealth-management teams with shared focus on retirement and tax strategy advisory.
34. Decon Water Technologies, LLC (08/22/2025)
Rochester Midland Corporation (Phoenix, AZ) acquired Decon Water Technologies, LLC from Phoenix, AZ. The deal enhances its environmental-services division with added industrial water treatment capabilities.
35. Alvarado Gold Mine (08/27/2025)
NOHO, Inc. (Phoenix, AZ) agreed to acquire a 51 % stake in Alvarado Gold Mine from Arizona. The project offers exploration upside in central Arizona’s historic mining region.
36. Galloway Asset Management, LLC (08/29/2025)
Modern Wealth Management, LLC (Scottsdale, AZ) acquired Galloway Asset Management, LLC from Mesa, AZ. The transaction adds public-sector retirement expertise and expands its fiduciary advisory platform.
37. Keystroke Data, Inc. (08/29/2025)
BravoTran, Inc. (Phoenix, AZ) acquired Keystroke Data, Inc. from Phoenix, AZ. The purchase advances its document-automation technology for logistics and supply-chain clients.
38. Evernorth Care Group (09/02/2025)
HonorHealth Foundation (Scottsdale, AZ) agreed to acquire Evernorth Care Group from Phoenix, AZ. The acquisition deepens HonorHealth’s care-delivery network and broadens its community health initiatives.
39. K254CB-FX (09/02/2025)
Advance Ministries, Inc. (Phoenix, AZ) agreed to acquire K254CB-FX from Arizona. The station purchase awaits FCC approval and supports its regional broadcast expansion.
40. Visionmakers International LLC (09/02/2025)
BizGro Partners (Phoenix, AZ) acquired Visionmakers International LLC from Mesa, AZ. The acquisition adds high-end stonework and architectural fabrication to BizGro’s construction portfolio.
41. iJoin Success (09/09/2025)
Broadridge Financial Solutions, Inc. (Scottsdale, AZ) acquired iJoin Success from Arizona. The deal broadens Broadridge’s retirement-plan software suite and supports its push into next-generation data integration for advisors.
42. Arizona PPE Recon, Inc. (09/15/2025)
Lakeland Industries, Inc. (Phoenix, AZ) acquired Arizona PPE Recon, Inc. from Tempe, AZ for $4 million. The acquisition adds specialized protective-equipment recycling and service capacity to Lakeland’s North American operations.
43. JOBLYT LLC (09/15/2025)
EverCommerce Inc. (Scottsdale, AZ) acquired JOBLYT LLC from Phoenix, AZ. The transaction expands its home-services platform and integrates field-management software for contractors nationwide.
44. Nations Group, LLC (09/17/2025)
Legends Global (Scottsdale, AZ) acquired Nations Group, LLC from Scottsdale, AZ. The deal brings venue planning and project-management expertise into Legends’ growing real-estate and sports advisory portfolio.
45. 100 MW / 400 MWh White Tank Battery Storage Project (09/18/2025)
GridStor LLC (Phoenix, AZ) acquired the 100 MW / 400 MWh White Tank Battery Storage Project from Arizona. The purchase positions GridStor as a key renewables player in the Southwest and advances regional energy-transition capacity.
46. Park Glacier Inc. (09/23/2025)
Pursuit Attractions and Hospitality, Inc. (Scottsdale, AZ) acquired the remaining 20 % stake in Park Glacier Inc. from Phoenix, AZ for $13 million. The transaction consolidates ownership and adds visitor-experience integration across its portfolio.
47. Southwest Barricades, LLC (09/23/2025)
Right Traffic (Phoenix, AZ) acquired Southwest Barricades, LLC from Phoenix, AZ. The deal strengthens its construction safety and traffic-control operations through fleet and crew expansion.
48. Argus Professional Storage Management, LLC (09/24/2025)
SmartStop Self Storage REIT, Inc. (Scottsdale, AZ) acquired Argus Professional Storage Management, LLC from Arizona for $19.5 million. The acquisition adds a strategic third-party management platform and broadens SmartStop’s Southwest asset base.
49. Modern Recovery, LLC (09/25/2025)
BrentCare Behavioral Health (Phoenix, AZ) acquired Modern Recovery, LLC from Tempe, AZ. The combination expands outpatient treatment capacity and enhances behavioral-health continuum coverage across Arizona.
50. ESQ Data Solutions (08/19/2025)
Kinective (Scottsdale, AZ) acquired ESQ Data Solutions from Scottsdale, AZ. The integration advances real-time banking connectivity and payments infrastructure for credit-union clients.
51. Mesa Outdoor, LLC (08/19/2025)
Revelyst, Inc. (Phoenix, AZ) acquired Mesa Outdoor, LLC from Bowling Green, KY for $100 million. The deal broadens its sporting-goods brand portfolio and expands manufacturing reach into the Midwest.
52. Certain Assets (08/19/2025)
Bikiee Group Limited (Tempe, AZ) acquired Certain Assets from Arizona. The transaction supports its expansion in micro-mobility and consumer leasing channels.
53. Nocturne, LLC (08/20/2025)
Crescendo Labs Incorporated (Phoenix, AZ) acquired Nocturne, LLC from Mesa, AZ. The deal adds a specialized creative-technology unit focused on immersive media design.
54. Ransom Digital LLC (08/22/2025)
TRAXyL, Inc. (Scottsdale, AZ) acquired Ransom Digital LLC from Surprise, AZ. The purchase strengthens its digital infrastructure and optical-fiber deployment capabilities.
55. Food Kiosk Business (08/22/2025)
Crew, Inc. (Phoenix, AZ) acquired Food Kiosk Business from Arizona. The deal expands its hospitality portfolio and diversifies revenue across franchise and on-premise models.
56. Beachwalk Industries Inc. (08/26/2025)
NameSilo, LLC (Phoenix, AZ) acquired Beachwalk Industries Inc. from Boca Raton, FL. The acquisition adds a complementary domain-services business and extends its digital-commerce footprint.
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.
Copyright ©2025 William & Wall, S&P Global Market Intelligence
