Q4 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 target companies experienced a broad wave of strategic and financial buyer interest in Q4 2025, reflecting continued inbound capital across mining, aerospace, construction, technology, healthcare, and real assets. Resource-oriented assets were active early in the quarter, with the Golconda Project and the Rattlesnake Porphyry-Epithermal Project changing hands as international mining groups consolidated copper-gold exploration exposure in Arizona’s historically productive geology. Industrial and advanced manufacturing platforms also drew attention, including the $12 million acquisition of Phoenix-based Joined Alloys and the $170 million sale of Peoria-based TYR Tactical, underscoring sustained buyer appetite for aerospace materials, surface treatment, and defense-oriented manufacturing capabilities. Construction and infrastructure themes were reinforced by Webcor’s acquisition of GCON in Phoenix and Trinity Consultants’ purchase of Tucson-based GeoSystems Analysis, expanding national operators deeper into the Southwest.
Healthcare, financial services, and technology targets likewise represented a meaningful share of activity. Nautic Partners’ acquisition of Scottsdale-based Cenavera Nutrition highlighted private equity interest in the nutrition and wellness segment, while LifeCare Home Health Family expanded into Arizona through the purchase of Infinity Hospice Care. Financial and advisory platforms—including FPG Private Wealth and Pinnacle Healthcare Advisors—were absorbed by larger national consolidators seeking regional scale. In technology and IT services, transactions such as Corsica Technologies’ acquisition of AccountabilIT, WIN Reality’s purchase of Yakkertech, and Bruker’s acquisition of AST Revolution demonstrated that Arizona-based innovation companies continue to serve as strategic bolt-ons for national growth platforms spanning managed IT, VR training, and analytical instrumentation.
Real estate and consumer-facing assets added further depth to the quarter. Brookfield Asset Management’s acquisition of the Sheraton Grand Phoenix reinforced institutional confidence in Arizona hospitality real estate, while multiple commercial property transactions—including Paradise Village Gateway—reflected ongoing capital rotation into Phoenix-area assets. Agribusiness and distribution were also represented through Mantiqueira USA’s acquisition of Hickman’s Egg Ranch and Satair’s purchase of Unical Aviation in Glendale, strengthening supply chain and production infrastructure in the region. Collectively, Q4 2025 activity signals sustained external demand for Arizona-headquartered companies, with buyers ranging from private equity firms and institutional asset managers to global strategics seeking sector specialization and geographic expansion across the Southwest.
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. Golconda Project (10/1/2025)
G50 Corp Limited, of North Sydney acquired Golconda Project for $1M, advancing its mineral exploration portfolio and positioning for resource development opportunities.
2. CCS Presentation Systems Inc. (10/2/2025)
Avidex Industries, LLC, of Cary, NC, acquired CCS Presentation Systems Inc. of Mesa, AZ, strengthening its audiovisual integration capabilities and expanding its presence in the commercial presentation technology market.
3. Cenavera Nutrition, LLC (10/7/2025)
Nautic Partners, LLC, of Providence, RI, acquired Cenavera Nutrition, LLC of Scottsdale, AZ, positioning the private equity firm in the growing nutritional supplements and wellness market.
4. Rattlesnake, Arizona Porphyry-Epithermal Project (10/9/2025)
Almadex Minerals Ltd., of Vancouver, acquired Rattlesnake, Arizona Porphyry-Epithermal Project, strengthening its North American exploration portfolio with a strategic copper-gold asset in Arizona's prolific mining region.
5. Joined Alloys, LLC (10/14/2025)
Trusted Aerospace Engineering Pvt. Ltd., of Chennai, , acquired Joined Alloys, LLC of Phoenix, AZ for $12M, strengthening its materials capabilities in specialized metal alloys for aerospace applications.
6. Sun Tech Air Conditioning Llc (10/14/2025)
Fix it Frankie, of Phoenix, AZ, acquired Sun Tech Air Conditioning Llc of Phoenix, AZ, strengthening its HVAC service capabilities in the local market.
7. GCON Inc. (10/17/2025)
Webcor Construction, LP, of San Francisco, CA, acquired GCON Inc. of Phoenix, AZ, strengthening its construction capabilities and expanding its presence in the Arizona market.
8. GeoSystems Analysis, Inc. (10/21/2025)
Trinity Consultants, Inc., of Dallas, TX, acquired GeoSystems Analysis, Inc. of Tucson, AZ, strengthening its environmental consulting capabilities with specialized geospatial analysis and remediation services.
9. Bacvax, Inc. (10/24/2025)
GPN Vaccines Inc, of , , acquired Bacvax, Inc. of Phoenix, AZ, strengthening its vaccine development pipeline and expanding its biotechnology capabilities.
10. M & K Industries Limited Co (10/28/2025)
Trophy Resources, Inc., of Alpharetta, GA, acquired M & K Industries Limited Co of Tucson, AZ, strengthening its industrial operations and expanding its manufacturing capabilities in the Southwest market.
11. Safe T Professionals, LLC (10/29/2025)
Gallagher Bassett Services, Inc., of Rolling Meadows, IL, acquired Safe T Professionals, LLC of Chandler, AZ, strengthening its workplace safety and risk management services portfolio.
12. TYR Tactical, LLC (10/29/2025)
Safariland, LLC, of Jacksonville, FL, acquired TYR Tactical, LLC of Peoria, AZ for $170M, strengthening its portfolio of tactical gear and protective equipment for law enforcement and military markets.
13. Foresight Finishing, LLC (11/3/2025)
Valence Surface Technologies, LLC, of El Segundo, CA, acquired Foresight Finishing, LLC of Tempe, AZ, strengthening its specialized surface treatment capabilities in the aerospace and defense sectors.
14. Infinity Hospice Care LLC (11/6/2025)
LifeCare Home Health Family, of Irving, TX, acquired Infinity Hospice Care LLC of Scottsdale, AZ, strengthening its end-of-life care services and expanding its healthcare portfolio into the Arizona market.
15. Unical Aviation Inc. (11/7/2025)
Satair USA Inc., of Peachtree City, GA, acquired Unical Aviation Inc. of Glendale, AZ, strengthening its aerospace parts distribution capabilities in the western United States.
16. AccountabilIT, LLC (11/12/2025)
Corsica Technologies, Inc., of Greenville, SC, acquired AccountabilIT, LLC of Scottsdale, AZ, strengthening its managed IT services capabilities and expanding its geographic footprint in the Southwest market.
17. Hickman's Egg Ranch, Inc. (11/14/2025)
Mantiqueira USA, of Greeley, CO, acquired Hickman's Egg Ranch, Inc. of Buckeye, AZ, strengthening its egg production capabilities and expanding its footprint in the southwestern U.S. market.
18. Sheraton Grand Phoenix LLC (11/17/2025)
Brookfield Asset Management Ltd., of New York, NY, acquired Sheraton Grand Phoenix LLC of Phoenix, AZ, strengthening its hospitality real estate portfolio in the Southwest market.
19. 1606 Corp. (11/18/2025)
Sim Agro Inc., of The Woodlands, TX, acquired 1606 Corp. of Phoenix, AZ, strengthening its agricultural technology capabilities and expanding its presence in the Southwest market.
20. SCC Paradise Village Gateway AZ LLC (11/20/2025)
Undisclosed Buyer acquired SCC Paradise Village Gateway AZ LLC of Phoenix, AZ for $29M, consolidating its commercial real estate holdings in the Phoenix market.
21. AST Revolution, LLC (11/24/2025)
Bruker Corporation, of Billerica, MA, acquired AST Revolution, LLC of Tucson, AZ, advancing its analytical instrumentation capabilities in specialized testing and measurement solutions.
22. FPG Private Wealth (11/30/2025)
Wealth Enhancement Group, LLC, of Plymouth, MN, acquired FPG Private Wealth, strengthening its wealth management capabilities and expanding its client base in the private wealth sector.
23. CommLoan, Inc. (12/2/2025)
Windtree Therapeutics, Inc., of Warrington, PA, acquired CommLoan, Inc. of Scottsdale, AZ, diversifying beyond its biopharmaceutical operations into commercial lending services.
24. one camelback (12/4/2025)
Kinella Capital acquired one camelback, expanding its portfolio of outdoor recreation and hydration equipment assets.
25. Amer-X Security Inc. (12/9/2025)
Protel Communications Inc., of San Diego, CA, acquired Amer-X Security Inc. of Scottsdale, AZ, strengthening its integrated security and communications solutions portfolio.
26. Yakkertech Limited (12/16/2025)
WIN Reality, Inc., of Austin, TX, acquired Yakkertech Limited of Phoenix, AZ, strengthening its virtual reality training platform with advanced communication technology capabilities.
27. Pinnacle Healthcare Advisors, Inc. (12/19/2025)
Accordion Partners LLC, of New York, NY, acquired Pinnacle Healthcare Advisors, Inc. of Phoenix, AZ, strengthening its healthcare consulting capabilities and expanding its presence in the southwestern market.
28. Electronic Security Concepts LLC (12/29/2025)
Security Franchisors, LLC, of West Palm Beach, FL, acquired Electronic Security Concepts LLC of Scottsdale, AZ, strengthening its security services portfolio and expanding its presence in the Arizona market.
Arizona M&A Deal Summaries — Business Sale Activity for M&A Buyers
Arizona-based acquirors closed Q4 2025 with a notably diversified and geographically expansive set of transactions, underscoring the state’s continued evolution from a regional growth story into a national consolidation platform. Strategic buyers such as Insight Enterprises (Chandler), Phoenix Electronic Business Solutions (Tempe), and PRO EM National Event Services (Phoenix) executed targeted acquisitions to deepen digital transformation, data management, and event production capabilities, while expanding into markets including Chicago, Birmingham, and California. At the same time, Scottsdale- and Phoenix-based platforms in wealth management, banking, and valuation services—including Osaic, ServBanc Holdco, and Opteon USA—pursued disciplined add-ons across Minnesota, Florida, Illinois, and the Southeast, reinforcing Arizona’s growing presence in financial services roll-up strategies.
Real assets and multi-site consumer platforms were equally active. Store Capital expanded its healthcare real estate footprint with the Garden State Medical Center portfolio, while Harrison Properties and Cotterkey Investments added distribution, business center, and office assets across key metropolitan corridors. In consumer and franchise-driven models, Mister Car Wash, LUV Car Wash, Hello Sugar, Evive Brands, and Salt Dental Collective continued aggressive geographic expansion into California, the Midwest, and the Pacific Northwest—highlighting Arizona’s role as a headquarters base for scalable, asset-light service consolidators. Meanwhile, industrial and infrastructure buyers such as Centuri Holdings, Compactor Rentals of America, Ascent Lifting, and Molded Devices extended their operational reach into the Atlantic region, Texas Gulf Coast, and Northeast, reflecting ongoing demand for specialty services, equipment rental, and utility infrastructure capabilities.
Technology and innovation themes also remained prominent. Axon Enterprise’s acquisition of Carbyne strengthened its public safety communications stack; PrePass Safety Alliance, FlyHouse Technology, and Exos Works advanced platforms in fleet safety, aviation technology, and sports performance analytics; and Opendoor added fintech-enabled real estate capabilities through Growella. Collectively, the quarter’s 42 transactions illustrate a maturing Arizona buyer ecosystem characterized by strategic bolt-ons, cross-regional expansion, and sector breadth spanning technology, healthcare real estate, consumer services, infrastructure, and financial services. Rather than isolated deals, Q4 activity reflects a structural trend: Arizona-headquartered platforms increasingly acting as national consolidators across fragmented industries.
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)
1. HData, Inc. (10/1/2025)
Phoenix Electronic Business Solutions LLC, of Tempe, AZ, acquired HData, Inc. of Birmingham, AL, strengthening its data management and electronic business solutions capabilities.
2. Inspire11 LLC (10/1/2025)
Insight Enterprises, Inc., of Chandler, AZ, acquired Inspire11 LLC of Chicago, IL, strengthening its digital transformation and cloud consulting capabilities.
3. Top Productions (10/1/2025)
PRO EM National Event Services, of Phoenix, AZ, acquired Top Productions of Richmond, CA, strengthening its event production capabilities and expanding its presence in the California market.
4. Main Street Real Estate Advisors (10/9/2025)
Unified Commercial Property Management, of Scottsdale, AZ, acquired Main Street Real Estate Advisors of Scottsdale, AZ, expanding its commercial real estate services and advisory capabilities in the local market.
5. Sol Group Marketing Company (10/10/2025)
Martori Bros. Distributors, of Scottsdale, AZ, acquired Sol Group Marketing Company of Pompano Beach, FL, strengthening its marketing and promotional capabilities within the distribution sector.
6. Garden State Medical Center Real Estate Portfolio (10/14/2025)
Store Capital LLC, of Scottsdale, AZ, acquired Garden State Medical Center Real Estate Portfolio, expanding its healthcare real estate holdings in the Northeast market.
7. Sun Air Jets, LLC (10/14/2025)
FlyHouse Technology, LLC, of Scottsdale, AZ, acquired Sun Air Jets, LLC of Camarillo, CA, expanding its aviation technology platform into the private jet charter market.
8. Sun Tech Air Conditioning Llc (10/14/2025)
Fix it Frankie, of Phoenix, AZ, acquired Sun Tech Air Conditioning Llc of Phoenix, AZ, strengthening its HVAC service capabilities in the local market.
9. Vannoy's Tires Inc (10/14/2025)
Sun Auto Tire & Service Inc., of Tucson, AZ, acquired Vannoy's Tires Inc of Pensacola, FL, expanding its tire and automotive service footprint into the Florida Gulf Coast market.
10. 5 Car Wash locations of Whistle Express Car Wash. (10/21/2025)
Mister Car Wash, Inc., of Tucson, AZ, acquired 5 Car Wash locations of Whistle Express Car Wash, strengthening its nationwide footprint in the express car wash market.
11. Maguire Equipment Inc. (10/21/2025)
Compactor Rentals of America, LLC, of Phoenix, AZ, acquired Maguire Equipment Inc. of Hyde Park, MA, strengthening its equipment rental capabilities in the Northeast market.
12. Upland Distribution Portfolio and Denver BusinessCenter (10/21/2025)
Harrison Properties, LLC, of Phoenix, AZ, acquired Upland Distribution Portfolio and Denver BusinessCenter, expanding its commercial real estate holdings across key distribution and business center markets.
13. Gallagher Financial Services, Inc. (10/28/2025)
Osaic Inc., of Phoenix, AZ, acquired Gallagher Financial Services, Inc. of North Saint Paul, MN, reinforcing its wealth management and financial advisory services platform.
14. Waste Equipment Rentals & Sales, LLC (10/28/2025)
Compactor Rentals of America, LLC, of Phoenix, AZ, acquired Waste Equipment Rentals & Sales, LLC of College Station, TX, strengthening its waste management equipment rental network in the Texas market.
15. Four Pillars Investment Management, LLC (10/30/2025)
Osaic Inc., of Phoenix, AZ, acquired Four Pillars Investment Management, LLC of Cape Coral, FL, reinforcing its wealth management platform with additional investment advisory capabilities.
16. IF Bancorp, Inc. (10/30/2025)
ServBanc Holdco, Inc., of Phoenix, AZ, acquired IF Bancorp, Inc. of Watseka, IL, expanding its banking operations into Illinois markets.
17. Infinite Athlete, Inc. (10/30/2025)
Exos Works, Inc., of Phoenix, AZ, acquired Infinite Athlete, Inc. of Covina, CA, expanding its sports technology and athlete performance optimization capabilities.
18. Hoisting Wire Rope & Sling (10/31/2025)
Ascent Lifting, Inc., of Phoenix, AZ, acquired Hoisting Wire Rope & Sling of Corpus Christi, TX, strengthening its specialized lifting equipment and rigging solutions capabilities in the Texas Gulf Coast market.
19. Equity Valuation Partners, Inc. (11/1/2025)
Opteon USA, of Scottsdale, AZ, acquired Equity Valuation Partners, Inc. of Fairhope, AL, strengthening its valuation services capabilities in the Southeast market.
20. Carbyne Ltd. (11/4/2025)
Axon Enterprise, Inc., of Scottsdale, AZ, acquired Carbyne Ltd. of New York, NY, strengthening its public safety technology platform with advanced emergency response and communication solutions.
21. office building in midtown Phoenix (11/5/2025)
Cotterkey Investments Ltd., of Maricopa, AZ, acquired office building in midtown Phoenix, expanding its commercial real estate portfolio in the Phoenix metropolitan market.
22. Pacific Lawn Sprinklers Inc. (11/6/2025)
Evive Brands, LLC, of Scottsdale, AZ, acquired Pacific Lawn Sprinklers Inc. of College Point, NY, expanding its home service franchise portfolio into the lawn care and irrigation market.
23. Connect Atlantic Utility Services Corporation (11/11/2025)
Centuri Holdings, Inc., of Phoenix, AZ, acquired Connect Atlantic Utility Services Corporation of Bedford, expanding its utility infrastructure services network in the Atlantic region.
24. Assets of 20 Waxxpot salons (11/13/2025)
Hello Sugar, of Mesa, AZ, acquired Assets of 20 Waxxpot salons, expanding its waxing and beauty service footprint across multiple markets.
25. Morning Download (11/19/2025)
Hyperion Financial Group LLC, of Scottsdale, AZ, acquired Morning Download, positioning the firm to capitalize on digital media and content distribution opportunities.
26. San Diego Chrysler Dodge Jeep Ram dealership (11/19/2025)
Carvana Operations Hc LLC, of Tempe, AZ, acquired San Diego Chrysler Dodge Jeep Ram dealership, expanding its vehicle acquisition network and strengthening its inventory sourcing capabilities in the California market.
27. Two Premier Georgia Multifamily Communities (11/20/2025)
PEM Real Estate Group, LLC, of Phoenix, AZ, acquired Two Premier Georgia Multifamily Communities, expanding its residential property portfolio into the Southeast market.
28. The Compuflex Corporation (11/25/2025)
Cash Flow Management, LLC, of Gilbert, AZ, acquired The Compuflex Corporation of Springfield, NJ, strengthening its technology solutions and operational capabilities in the corporate services sector.
29. Schmoyer Reinhard, LLP (12/1/2025)
Fennemore Law, of Phoenix, AZ, acquired Schmoyer Reinhard, LLP, expanding its legal services capabilities and regional market presence.
30. Applicant Starter, LLC (12/2/2025)
ATS Mako, LLC, of Phoenix, AZ, acquired Applicant Starter, LLC of Atlanta, GA, strengthening its recruitment technology capabilities and expanding its talent acquisition service offerings.
31. Cruisers Car Wash (12/2/2025)
LUV Car Wash, of Gilbert, AZ, acquired Cruisers Car Wash of Northridge, CA, expanding its car wash operations into the California market.
32. Kirby Nelson Orthodontics (12/2/2025)
Salt Dental Collective, LLC, of Phoenix, AZ, acquired Kirby Nelson Orthodontics of Maple Valley, WA, expanding its specialized orthodontic services into the Pacific Northwest market.
33. Shine Franchise Group (12/3/2025)
Evive Brands, LLC, of Scottsdale, AZ, acquired Shine Franchise Group of Grandville, MI, expanding its portfolio of service-based franchise concepts.
34. Argos Corporation (12/5/2025)
Molded Devices, Inc., of Tempe, AZ, acquired Argos Corporation of Taunton, MA, strengthening its manufacturing capabilities and expanding its presence in the Northeast market.
35. Little Giant Mine (12/9/2025)
Lelantos Holdings, Inc., of Tucson, AZ, acquired Little Giant Mine, positioning the company to expand its mining operations and mineral extraction capabilities.
36. Fleetdrive 360, Inc. (12/10/2025)
PrePass Safety Alliance, of Phoenix, AZ, acquired Fleetdrive 360, Inc. of Atlanta, GA, advancing its comprehensive fleet management and safety technology platform.
37. Mushroom Madness, Inc. (12/10/2025)
FBC Holding, Inc., of Chandler, AZ, acquired Mushroom Madness, Inc. of Portland, OR, expanding its specialty food production capabilities in the Pacific Northwest market.
38. Itegria, LLC (12/16/2025)
MC Group, Inc., of Phoenix, AZ, acquired Itegria, LLC of Northbrook, IL, advancing its technology integration and consulting capabilities.
39. Prosper Energy LLC (12/17/2025)
The Awareness Group Inc, of Scottsdale, AZ, acquired Prosper Energy LLC, expanding its capabilities in the energy sector.
40. Champion Car Wash (12/19/2025)
LUV Car Wash, of Gilbert, AZ, acquired Champion Car Wash of Los Angeles, CA, expanding its car wash operations into the competitive California market.
41. Conquistador Pest & Termite, Inc (12/19/2025)
Blue Sky Pest Control, of Gilbert, AZ, acquired Conquistador Pest & Termite, Inc of Tucson, AZ, expanding its pest control operations into the southern Arizona market.
42. Growella Inc (12/24/2025)
Opendoor Technologies Inc., of Tempe, AZ, acquired Growella Inc of Cincinnati, OH, expanding its real estate technology platform with enhanced financial services capabilities.
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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