Q1 2026 | Colorado M&A Insights

Colorado Market ActivityColorado M&A TrendsColorado Private Equity
Written By William & Wall

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.

Colorado — Business Sale Overview

In Q1 2026, Colorado-based target companies recorded 82 M&A transactions in the supplied dataset, including company acquisitions, partial-stake investments, and asset transactions, with aggregate disclosed value of approximately $13.218 billion across 14 valued line items. Public Storage’s proposed acquisition of National Storage Affiliates Trust represented approximately 75.2% of that total; excluding this transaction, disclosed value was approximately $3.274 billion. Buyers included corporate strategics and institutional investors, with out-of-state acquirers prominent alongside 10 line items naming Colorado-based buyers and international participation from Europe, Canada, and China. Software and technology, industrial and infrastructure services, and real estate emerged as recurring themes, reflecting Colorado’s breadth as a seller and exit market.

Real estate led disclosed value, with Public Storage of Frisco, Texas, agreeing to acquire National Storage Affiliates Trust of Greenwood Village for approximately $9.944 billion to expand its self-storage platform. Industrial distribution followed with QXO of Greenwich, Connecticut, agreeing to acquire Englewood-based Kodiak Building Partners for approximately $2.305 billion, extending its building products distribution operations. In resources, Goldgroup Mining of Vancouver, Canada, agreed to acquire Denver-based Gold Resource Corporation for approximately $445.50 million through a proposed corporate combination. Technology activity included Broadridge Financial Solutions of Lake Success, New York, agreeing to acquire Denver-based CQG for $173 million to expand its capital markets technology portfolio. Smaller disclosed transactions included Graham Corporation’s approximately $59.98 million acquisition of Louisville-based FlackTek and Aditxt’s $36 million acquisition of Golden-based Ignite Proteomics.

The quarter reinforced the range of potential exit pathways available to Colorado owners, spanning strategic acquisitions, sponsor investments, management purchases, and minority or majority recapitalizations. Institutional participation in businesses such as Global Healthcare Exchange, Peak Utility Services Group, and TrackVia complemented corporate consolidation across industrial, healthcare, and software markets. For founder-owners and sponsors, the activity illustrates a diverse buyer environment, although the concentration of disclosed value in a single large real estate transaction limits the aggregate’s usefulness as a measure of typical business sale size.

Colorado — Strategic vs. Sponsor-led Activity

Colorado — X / Y Plot By Sector

Colorado — M&A Segmentation

Colorado — Sector Breakdown

Second Level Primary Industry Breakdown

Colorado 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. Centil LLC (1/6/2026)
    Sabel Systems Technology Solutions, LLC of Beavercreek, OH, acquired Centil LLC of Lafayette, CO, adding a Colorado aerospace and defense business to its organization.

  2. K214FJ (1/6/2026)
    Educational Communications of Colorado Springs, Inc. of Colorado Springs, CO, agreed to acquire Colorado broadcast asset K214FJ from Cedar Cove Broadcasting, Inc. for $40,000, expanding its broadcasting footprint.

  3. Matrisk AI (1/6/2026)
    Akur8 Inc of Paris, France, acquired Matrisk AI of Denver, CO, adding an application software business to its platform.

  4. Mobile Solutions Services Holdings, LLC (1/7/2026)
    Proven Optics, LLC of Columbus, OH, acquired Mobile Solutions Services Holdings, LLC of Englewood, CO, combining the Proven Optics and Brightfin organizations under shared leadership.

  5. Parallel Architectural Products (1/7/2026)
    Armstrong World Industries, Inc. of Lancaster, PA, acquired Parallel Architectural Products of Englewood, CO, adding an architectural products business to its portfolio.

  6. Global Healthcare Exchange, LLC (1/8/2026)
    Veritas Capital Fund Management, L.L.C. of New York, NY, agreed to acquire a majority stake in Global Healthcare Exchange, LLC of Louisville, CO, joining Temasek and Warburg Pincus as shareholders in the healthcare technology business.

  7. ATG, Inc. (1/9/2026)
    Magnet Defense LLC of Miami, FL, agreed to acquire ATG, Inc. of Denver, CO, adding personnel and capabilities to support expanded programs across the combined organization.

  8. Undisclosed Insurance Agency (1/9/2026)
    ALKEME Intermediary Holdings, LLC of Ladera Ranch, CA, acquired an undisclosed insurance agency in Colorado, expanding its insurance agency portfolio.

  9. Object First (US), Inc. (1/10/2026)
    Veeam Software Corporation of Seattle, WA, acquired Object First (US), Inc. of Denver, CO, adding a technology hardware and storage business to its organization.

  10. BellRock Brands Inc. (1/12/2026)
    Key Investment Partners LLC of Denver, CO, acquired BellRock Brands Inc. of Denver, CO, bringing the business out of receivership under new ownership.

  11. Los Trigos, Inc. (1/12/2026)
    Sign In Solutions Inc. of Saint Petersburg, FL, acquired Los Trigos, Inc. of Denver, CO, expanding its application software portfolio.

  12. Colorado Moisture Control, Inc. (1/13/2026)
    Rampart Exterior Services acquired Colorado Moisture Control, Inc. of Denver, CO, adding a locally managed construction and engineering business to its platform.

  13. The Good Crisp Company, Inc. (1/13/2026)
    MPearlRock LP of Palm Beach Gardens, FL, acquired The Good Crisp Company, Inc. of Boulder, CO, adding a packaged foods producer to its investment portfolio.

  14. First National Bank of Hugo (1/14/2026)
    High Plains Bank of Flagler, CO, agreed to acquire First National Bank of Hugo of Hugo, CO, extending its branch and deposit presence into Lincoln and Lake counties.

  15. EGYM, Inc. (1/15/2026)
    Playlist Media, Inc. of San Francisco, CA, agreed to acquire EGYM, Inc. of Denver, CO, adding EGYM as a subsidiary within its independently operated portfolio of brands.

  16. Legacy CvC, LLC (1/16/2026)
    Libera, Inc. of Jamestown, NY, acquired the CiviCore business identified in the workbook as Legacy CvC, LLC of Denver, CO, expanding its application software portfolio.

  17. Capital Reman Exchange LLC (1/20/2026)
    Alliant Power Company of Wisconsin acquired Capital Reman Exchange LLC of Parker, CO, adding an automotive parts and equipment business to its organization.

  18. Four Star Realty & Property Management, Inc. (1/20/2026)
    Oakline Properties of New York, NY, acquired Four Star Realty & Property Management, Inc. of Boulder, CO, adding a property management business while retaining its existing brand and leadership.

  19. SCYTEC, LLC (1/20/2026)
    Minitab, LLC of State College, PA, acquired SCYTEC, LLC of Greenwood Village, CO, identified in the narrative as Scytec Consulting Inc., expanding its application software portfolio.

  20. Bright Angel Project (1/22/2026)
    Solitario Resources Corp. of Wheat Ridge, CO, acquired the Bright Angel Project in Colorado, adding a copper project to its resource portfolio.

  21. Cypress Inland Corporation (1/22/2026)
    Vector, Inc. of San Francisco, CA, acquired a majority stake in Cypress Inland Corporation, identified in the narrative as YardView, of Castle Rock, CO, incorporating YardView as a business unit while retaining management participation.

  22. WellBiz Brands, Inc. (1/22/2026)
    Transom Capital Group, LLC of El Segundo, CA, acquired WellBiz Brands, Inc. of Denver, CO, adding a leisure facilities business to its investment portfolio.

  23. FlackTek Manufacturing, LLC/FlackTek Sales, LLC (1/23/2026)
    Graham Corporation of Batavia, NY, acquired FlackTek Manufacturing, LLC and FlackTek Sales, LLC of Louisville, CO, for approximately $59.98 million, integrating the industrial business as a wholly owned subsidiary while retaining its headquarters and leadership.

  24. Brookside Gardens (1/26/2026)
    Z Golf Food & Beverage Services, LLC of Temecula, CA, acquired Brookside Gardens of Berthoud, CO, adding a leisure property to its operating portfolio.

  25. Gold Resource Corporation (1/26/2026)
    Goldgroup Mining Inc. of Vancouver, Canada, agreed to acquire Gold Resource Corporation of Denver, CO, for approximately $445.50 million, combining the companies through a merger that would make Gold Resource a wholly owned subsidiary.

  26. KRMZ-TV (1/28/2026)
    SynCom Media Group, Inc. of Westminster, CO, agreed to acquire Colorado television station KRMZ-TV from Rocky Mountain Public Media, Inc. for $200,000, expanding its broadcasting portfolio.

  27. Seed Innovations LLC (1/28/2026)
    IonQ, Inc. of College Park, MD, agreed to acquire Seed Innovations LLC of Monument, CO, adding an IT consulting and services business to its organization.

  28. Applejack Wine & Spirits, LLC (1/29/2026)
    ABC Fine Wine & Spirits, Inc. of Orlando, FL, agreed to acquire Applejack Wine & Spirits, LLC of Wheat Ridge, CO, adding three Colorado stores that would operate as Applejack by ABC.

  29. AssetLink Global LLC (1/29/2026)
    Geoforce, Inc. of Plano, TX, acquired AssetLink Global LLC of Evergreen, CO, adding the communications equipment business to the Geoforce family while retaining its leadership.

  30. Origin Automation And Controls, Inc. (1/29/2026)
    Electric Equipment & Engineering Co. of Denver, CO, acquired Origin Automation And Controls, Inc. of Loveland, CO, adding an industrial automation and controls business while retaining its headquarters and management.

  31. Ergoflex Systems, Inc. (1/30/2026)
    Highland Rim Capital, L.P. of Nashville, TN, acquired Ergoflex Systems, Inc. of Littleton, CO, adding the business identified in the narrative as Xybix while retaining its senior leadership.

  32. ISYS Incorporated (2/2/2026)
    OSC Global of Anchorage, AK, acquired ISYS Incorporated, identified in the narrative as I2X Technologies, of Littleton, CO, bringing the business into OSC Global’s organization.

  33. Magnum Forge, LLC (2/2/2026)
    Novus Consulting LLC of Oklahoma City, OK, acquired Magnum Forge, LLC of Denver, CO, adding a research and consulting services business to its organization.

  34. 19-unit townhome community in Wheat Ridge (2/3/2026)
    Atlas Real Estate Group, LLC of Denver, CO, acquired a 19-unit townhome community in Wheat Ridge, CO, expanding its residential real estate holdings.

  35. InDevR, Inc. (2/3/2026)
    SSI Diagnostica A/S of Hillerød, Denmark, acquired InDevR, Inc. of Boulder, CO, adding a life sciences tools and services business to its organization.

  36. Trace Engineering LLC (2/3/2026)
    Seedbox Solution of Gurnee, IL, acquired Trace Engineering LLC of Arvada, CO, bringing engineering capabilities in-house to advance its BOXIQ platform.

  37. Ambiente H2O Inc. (2/4/2026)
    DXP Enterprises, Inc. of Houston, TX, acquired Ambiente H2O Inc. of Sheridan, CO, expanding its trading and distribution operations through a cash-funded acquisition.

  38. Affordable American Insurance, Inc. (2/6/2026)
    Gauge Capital LLC of Southlake, TX, acquired a minority stake in Affordable American Insurance, Inc. of Westminster, CO, adding an insurance-related business to its investment portfolio.

  39. CQG, Inc. (2/6/2026)
    Broadridge Financial Solutions, Inc. of Lake Success, NY, agreed to acquire CQG, Inc. of Denver, CO, for $173 million, expanding its investment and capital markets technology portfolio.

  40. Selectis Health, Inc. (2/6/2026)
    Black Pearl Equities, LLC of Brooklyn, NY, proposed to acquire Selectis Health, Inc. of Denver, CO, for approximately $47.87 million, adding a healthcare real estate investment trust to its proposed investment holdings.

  41. Cross Country Infrastructure Services Inc. (2/9/2026)
    PSS Industrial Group Corp. of Houston, TX, acquired Cross Country Infrastructure Services Inc. of Aurora, CO, combining the businesses and leadership teams under PSS Cross Country Infrastructure Solutions.

  42. RightPath Investments & Financial Planning, Inc. (2/10/2026)
    Mission Wealth Management, LP of Santa Barbara, CA, acquired RightPath Investments & Financial Planning, Inc. of Colorado, expanding its advisory team with personnel from the acquired business.

  43. EXPLORE, Inc. (2/11/2026)
    Expedition Earth LLC of Southlake, TX, acquired EXPLORE, Inc. of Steamboat Springs, CO, adding a travel and hospitality business with debt and equity financing from Providence Investment Partners.

  44. Kodiak Building Partners Inc. (2/11/2026)
    QXO, Inc. of Greenwich, CT, agreed to acquire Kodiak Building Partners Inc. of Englewood, CO, for approximately $2.305 billion, expanding its building products distribution platform.

  45. IndiCue, Inc. (2/12/2026)
    Cineverse Corp. of New York, NY, agreed to acquire IndiCue, Inc. of Denver, CO, for $40 million, adding an application software business to its portfolio.

  46. Kratos Industries, LLC (2/12/2026)
    Legrand SA of Limoges, France, acquired Kratos Industries, LLC of Golden, CO, expanding its electrical components and equipment portfolio.

  47. Murray-Brown Laboratories Inc (2/12/2026)
    SGS SA of Baar, Switzerland, acquired Murray-Brown Laboratories Inc of Northglenn, CO, adding a laboratory business to its services portfolio.

  48. Imprint Events Group, Inc. (2/13/2026)
    MC&A, Inc. of Honolulu, HI, agreed to acquire a minority stake in Imprint Events Group, Inc. of Denver, CO, adding an investment in an events and entertainment business.

  49. Video Supply Co. (2/14/2026)
    VID.co acquired Video Supply Co. of Brighton, CO, combining concept development, filming, editing, and multi-channel distribution under the VID.co brand.

  50. Bootstrap Brewing Company LLC (2/18/2026)
    Left Hand Collective acquired Bootstrap Brewing Company LLC of Longmont, CO, consolidating production into the Indian Peaks Brewing Co facility while retaining Bootstrap’s Longmont taproom.

  51. Martin Technical, Inc. (2/18/2026)
    Bob Herzig And Associates, Inc. of Kansas City, MO, acquired Martin Technical, Inc. of Arvada, CO, adding the acquired company’s employees to the Herzig team.

  52. PINE Advisor Solutions LLC (2/18/2026)
    Centralis Group S.A. of Luxembourg, Luxembourg, agreed to acquire PINE Advisor Solutions LLC of Denver, CO, expanding its asset management services portfolio.

  53. Boughton’s Precast, Inc. (2/23/2026)
    NWPX Infrastructure, Inc. of Vancouver, WA, acquired Boughton’s Precast, Inc. of Pueblo, CO, expanding its precast construction materials operations under the NWPX Precast name.

  54. Point Solutions Group, LLC (3/2/2026)
    Dice Career Solutions, Inc. of Urbandale, IA, acquired Point Solutions Group, LLC of Denver, CO, for $5.5 million, adding an IT consulting and services business to its organization.

  55. RxRevu, Inc. (3/2/2026)
    PRN Software, LLC of Boston, MA, acquired RxRevu, Inc. of Denver, CO, combining DoseSpot and Arrive Health into Interra Health with backing from Bain Capital Tech Opportunities.

  56. Caleel + Hayden, LLC (3/3/2026)
    KYT Group, LLC acquired Caleel + Hayden, LLC of Denver, CO, adding a personal care and beauty products producer to its portfolio.

  57. CirrusMD Inc. (3/3/2026)
    Quantum Health, Inc. of Dublin, OH, acquired CirrusMD Inc. of Denver, CO, expanding its healthcare technology portfolio.

  58. Natural Habitat, Inc. (3/3/2026)
    Lindblad Expeditions Holdings, Inc. of New York, NY, acquired an additional 5% stake in Natural Habitat, Inc. of Louisville, CO, for approximately $16.59 million, increasing its ownership to 95%.

  59. Sylvester’s Maintenance & Mechanical LLC (3/3/2026)
    Galaxy Service Partners LLC of New York, NY, acquired Sylvester’s Maintenance & Mechanical LLC of Englewood, CO, adding a maintenance and mechanical business to its platform.

  60. Spatial Business Systems, Inc (3/4/2026)
    Enverus, Inc. of Austin, TX, agreed to acquire Spatial Business Systems, Inc of Littleton, CO, from Peak Rock Capital LLC, expanding its application software portfolio.

  61. Fueled, Inc. (3/5/2026)
    Opensend Inc of Las Vegas, NV, acquired Fueled, Inc. of Denver, CO, integrating the business under the Opensend brand and adding its leadership to product management.

  62. Argis Solutions, Inc. (3/9/2026)
    LOGIC Solutions Group, LLC of Houston, TX, acquired Argis Solutions, Inc. of Aurora, CO, adding an IT consulting and services business while retaining the Argis Solutions brand.

  63. Industrial Specialties, Inc. (3/9/2026)
    Midland Industries. Co., Inc. of Kansas City, MO, acquired Industrial Specialties, Inc. of Englewood, CO, expanding its industrial machinery, supplies, and components portfolio.

  64. MorningStar Senior Living of Parker (3/9/2026)
    Health Wave Partners acquired MorningStar Senior Living of Parker in Parker, CO, for $63.7 million, adding a senior living property to its portfolio.

  65. Simpson Property Group, LP (3/9/2026)
    Domain Capital Group, LLC of Atlanta, GA, acquired Simpson Property Group, LP of Denver, CO, from The State of Michigan Retirement Systems, adding a real estate operating and management business to its portfolio.

  66. Denovo Ventures, LLC (3/10/2026)
    Argano LLC of Plano, TX, acquired Denovo Ventures, LLC of Louisville, CO, from Tac Partners, Inc., expanding its internet services and infrastructure portfolio.

  67. Ignite Proteomics LLC (3/11/2026)
    Aditxt, Inc. of Mountain View, CA, acquired Ignite Proteomics LLC of Golden, CO, for $36 million, adding a biotechnology business through convertible preferred stock consideration.

  68. Jackson Creek Senior Living (3/11/2026)
    Inland Real Estate Acquisitions, Inc. of Oak Brook, IL, acquired Jackson Creek Senior Living in Monument, CO, expanding its senior living property portfolio.

  69. Peak Utility Services Group (3/11/2026)
    Greenbelt Capital Management L.P. of Austin, TX, agreed to acquire Peak Utility Services Group of Broomfield, CO, from ORIX Advisers, LLC, adding a utility services business to its investment portfolio.

  70. Scythe Robotics, Inc. (3/11/2026)
    Autonomous Solutions, Inc. of Mendon, UT, acquired Scythe Robotics, Inc. of Longmont, CO, adding a robotics business to its organization.

  71. Touchmath LLC (3/11/2026)
    95 Percent Group LLC of Lincolnshire, IL, agreed to acquire Touchmath LLC of Colorado Springs, CO, combining the education services businesses under the 95 Percent Group name.

  72. Feixiaohao Technology Inc. (3/13/2026)
    UTime Limited of Shenzhen, China, entered into a letter of intent to acquire Feixiaohao Technology Inc. of Denver, CO, for $80 million, adding an application software business through proposed share and cash consideration.

  73. Outpost Harley-Davidson (3/13/2026)
    A management group comprising Nick Hill and Justin Lynch acquired Outpost Harley-Davidson of Pueblo, CO, retaining the general manager to support continuity for customers and employees.

  74. Juno Global, Inc. (3/16/2026)
    Ramp Business Corporation of New York, NY, acquired Juno Global, Inc. of Denver, CO, expanding its application software portfolio.

  75. Mach 1 Networks, LLC (3/16/2026)
    Mereo 89, LLC of Phoenix, AZ, operating as Mereo Fiber, acquired Mach 1 Networks, LLC of Firestone, CO, trading as Xcelerate Networks, expanding its telecommunications portfolio.

  76. National Storage Affiliates Trust (3/16/2026)
    Public Storage of Frisco, TX, agreed to acquire National Storage Affiliates Trust of Greenwood Village, CO, for approximately $9.944 billion, expanding its self-storage platform through a transaction that also includes a planned property joint venture.

  77. Hexure (3/17/2026)
    Icapital Services LLC of New York, NY, agreed to acquire Hexure of Colorado Springs, CO, expanding its insurance technology portfolio.

  78. E-Max Instruments, Inc. (3/20/2026)
    Electro Switch, LLC of Weymouth, MA, acquired E-Max Instruments, Inc. of Englewood, CO, expanding its electrical components and equipment portfolio.

  79. Uplight, Inc. (3/24/2026)
    An investor group comprising Schneider Electric S.E. and Octopus Energy Group Limited agreed to acquire a majority stake in Uplight, Inc. of Boulder, CO, supporting its continued operation as an independent platform with Schneider remaining a significant minority partner.

  80. American Striping Company (3/26/2026)
    Frontline Road Safety Group, LLC of Denver, CO, acquired American Striping Company of Centennial, CO, from Tendit Group, expanding its road safety services platform.

  81. TrackVia, Inc. (3/26/2026)
    Bow River Asset Management LLC of Denver, CO, acquired a majority stake in TrackVia, Inc. of Denver, CO, adding an application software investment to its portfolio.

  82. Zynex, Inc. (3/27/2026)
    Altivera Medical Holdings, LLC of Englewood, CO, acquired Zynex, Inc. of Englewood, CO, bringing the healthcare equipment business under ownership associated with the planned Altivera Medical brand launch.

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.

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