Q3 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 Q3 2026, Colorado-based target companies recorded 63 M&A transactions in the supplied seller dataset, with aggregate disclosed value of approximately $2.732 billion across 11 valued entries. The dataset also includes asset transactions and rows whose Colorado location requires verification. Out-of-state and foreign strategic buyers accounted for much of the activity, alongside institutional sponsors, two explicitly identified Colorado buyers and a management buyout. Software and IT services, industrial and business services, and financial services were recurring themes, while food and energy transactions led disclosed value. The breadth of buyer participation supports Colorado's position as a durable seller and exit market, although the disclosed total reflects only a minority of the listed transactions.

Food and energy led the largest transactions. JBS N.V. proposed acquiring the remaining 17.92% of Greeley-based Pilgrim's Pride for approximately $1.196 billion, seeking full ownership and a Nasdaq delisting; the proposal represented 43.8% of aggregate disclosed value. Sunoco agreed to acquire Commerce City-based Offen Petroleum for $600 million, adding petroleum storage and transportation operations, while California Resources acquired Denver-based Crimson Midstream for $63 million in a transaction described as financially accretive. In resources, Artemis Gold's proposed acquisition of the remaining 95.05% of Englewood-based Vista Gold carried a column-reported value of approximately $356.74 million; StrikePoint Gold's proposed $120 million Northumberland Gold Project acquisition also appeared in the dataset, although the project's location was not supplied. In financial services, First National Bank of Omaha agreed to acquire Greenwood Village-based InBankshares for approximately $195.50 million, expanding in Colorado and entering New Mexico. Choice Hotels agreed to acquire Vail-based Harvest Hosts for $130 million, retaining it as a standalone business. Technology and consulting activity included Stakk's $56.73 million acquisition of Longmont-based Parascript and Wavestone's acquisition of Denver-based Sand Cherry, recorded at $12 million in the value column despite a higher enterprise value in the narrative.

The quarter reinforced the range of exit structures available across Colorado's seller market: strategic acquisitions, sponsor investments, management ownership transitions and proposed purchases of remaining public-company stakes. Several summaries provided for continuing leadership, retained ownership or standalone operations, demonstrating how transactions can combine a change in ownership with operating continuity. For founder-owners and sponsors, the activity points to buyer interest across distinct sectors, while the limited value disclosure and mix of proposed and completed deals call for care when drawing valuation conclusions.

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. Additional Patented Claims (7/1/2026)
    Highbury Resources Inc. of South Jordan, UT, acquired interests in two additional patented mining claims in southwestern Colorado through a lease transaction with Gold Eagle Mining Inc., expanding its mining-claims position.

  2. Epicurean Butter Holdco, Inc. (7/1/2026)
    Solina Group Holding of Paris, France, acquired Epicurean Butter Holdco, Inc. of Thornton, CO, adding a Thornton-based packaged-food business to its portfolio.

  3. Phased Right Incorporated (7/1/2026)
    Atwell, LLC of Southfield, MI, acquired Phased Right Incorporated of Lakewood, CO, expanding its construction and engineering operations in Lakewood.

  4. Metolius Golf LLC (7/6/2026)
    Noteefy, Inc of Woodland Hills, CA, acquired Metolius Golf LLC of Fort Collins, CO, adding Metolius founder Ross Liggett as Vice President of Data.

  5. Parascript, LLC (7/6/2026)
    Stakk Limited of Sydney, Australia, acquired Parascript, LLC of Longmont, CO, for $56.73 million, combining software capabilities to serve regulated organizations.

  6. Red Robin International, Inc. (7/6/2026)
    Walter Lee and Mari Tiscareño acquired Red Robin International, Inc. of Greenwood Village, CO, adding the Greenwood Village restaurant business identified in the dataset to their holdings.

  7. BFP Plumbing Services, Inc. (7/8/2026)
    ALS, LLC of Maitland, FL, acquired BFP Plumbing Services, Inc. of Denver, CO, expanding its Denver plumbing-services operations.

  8. Majestic Realty Collective (7/8/2026)
    Sotheby's International Realty Affiliates LLC of Madison, NJ, acquired Majestic Realty Collective of Denver, CO, adding Majestic's operations to its company-owned real estate network.

  9. Northslope Technologies Inc. (7/8/2026)
    The OpenAI Deployment Company, LLC of Wilmington, DE, agreed to acquire Northslope Technologies Inc. of Denver, CO, expanding its ability to deploy AI in customers' core operations with security and governance controls.

  10. ThrivePass, Inc. (7/8/2026)
    Shore Capital Partners, LLC of Chicago, IL, acquired ThrivePass, Inc. of Denver, CO, adding a Denver-based application-software business to its investment portfolio.

  11. Bow River Advisers, LLC (7/9/2026)
    New York Life Investment Management LLC of New York, NY, agreed to acquire the remaining stake in Bow River Advisers, LLC of Denver, CO, consolidating its ownership of the Denver investment adviser.

  12. The Kyjen Company, LLC (7/9/2026)
    H.I.G. Capital, LLC of Miami, FL, acquired a majority stake in The Kyjen Company, LLC of Centennial, CO, partnering with the existing management team to support the household-products business.

  13. DHE Computer Systems LLC (7/10/2026)
    Gladstone Investment Corporation, through a fund managed by Gladstone Management Corporation, acquired a majority stake in DHE Computer Systems LLC of Centennial, CO, providing debt and equity financing while the founders retained a significant equity stake.

  14. Industrial Cooling Solutions, Inc. (7/14/2026)
    Kuken Industries Co., Ltd. of Fukuoka, Japan, acquired Industrial Cooling Solutions, Inc. of Lakewood, CO, adding a Lakewood-based industrial-cooling business to its operations.

  15. Millard Plastic Surgery (7/14/2026)
    Inspire Aesthetics Management, LLC of Boca Raton, FL, agreed to acquire Millard Plastic Surgery of Englewood, CO, expanding its plastic-surgery practice network in Colorado.

  16. Rocket Seals Corporation (7/14/2026)
    Marco Rubber & Plastics, LLC of Seabrook, NH, acquired Rocket Seals Corporation of Denver, CO, adding a Denver-based seals distributor to its operations.

  17. C & D Energy Services, LLC (7/15/2026)
    ConTeras Industrial Group of Evansville, IN, acquired C & D Energy Services, LLC of Commerce City, CO, connecting the business with a broader platform offering additional capacity and complementary services.

  18. Carbon Shield LLC (7/15/2026)
    Tradewater LLC of Chicago, IL, acquired Carbon Shield LLC of Greenwood Village, CO, adding Carbon Shield's operations and its Vice President of Operations to the Tradewater team.

  19. Key Inspection Services (7/15/2026)
    LaunchPad Home Group, Inc. of Austin, TX, acquired Key Inspection Services of Colorado Springs, CO, expanding its Colorado Springs inspection-services presence while retaining operational leadership.

  20. DSD PT Consulting PLLC (7/16/2026)
    Summit Professional Education, LLC of Franklin, TN, acquired DSD PT Consulting PLLC of Centennial, CO (identified in the deal summary as Kids Bowel & Bladder), expanding its education-services portfolio.

  21. TrainingPeaks, LLC/Train Heroic, LLC (7/22/2026)
    Garmin Ltd. of Schaffhausen, Switzerland, acquired TrainingPeaks, LLC and Train Heroic, LLC in CO, bringing both Colorado businesses into Garmin's portfolio.

  22. Building One Consulting, LLC (7/27/2026)
    Dana Barton and Kevin Grace, management members of Building One Consulting, LLC of Denver, CO, acquired a majority stake in Building One Consulting, LLC of Denver, CO, transferring majority ownership to members of the company's management team.

  23. Blue Line Engineering, Inc. (7/29/2026)
    Arxis, Inc. of Bloomfield, CT, acquired Blue Line Engineering, Inc. of Colorado Springs, CO, adding a Colorado Springs-based electronic-equipment business to its operations.

  24. Certain Insurance Assets (8/1/2026)
    BroadStreet Partners Group, LLC of Columbus, OH, acquired certain insurance assets of an undisclosed agency in CO, expanding its insurance-asset portfolio in Colorado.

  25. American Auto Shield, LLC (8/4/2026)
    NRRM, LLC of Saint Peters, MO, acquired American Auto Shield, LLC of Lakewood, CO, adding the Lakewood-based business to its operations.

  26. Denver PWM, LLC (8/4/2026)
    Aspen Standard Wealth of New York, NY, acquired Denver PWM, LLC of Denver, CO, expanding its Denver investment-advisory presence.

  27. Offen Petroleum, LLC (8/6/2026)
    Sunoco LP of Dallas, TX, agreed to acquire Offen Petroleum, LLC of Commerce City, CO, for $600 million, expanding its petroleum storage and transportation operations.

  28. Woof Pet, Inc. (8/6/2026)
    The Farmer's Dog, Inc. of New York, NY, acquired Woof Pet, Inc. of Denver, CO, adding Woof as an independent division.

  29. Crimson Midstream Holdings, LLC (8/10/2026)
    California Resources Corporation of Long Beach, CA, acquired Crimson Midstream Holdings, LLC of Denver, CO, for $63 million, adding midstream operations in a transaction described as financially accretive.

  30. Lohmiller & Company, Inc. (8/10/2026)
    SRS Distribution, Inc. of McKinney, TX, agreed to acquire Lohmiller & Company, Inc. of Denver, CO, adding a Denver-based distribution business while retaining its leadership team.

  31. Tejon Treating and Carbon Solutions LLC (8/12/2026)
    Mora Energy Holdings, LLC of Dallas, TX, acquired Tejon Treating and Carbon Solutions LLC of Denver, CO, adding the treating and carbon-solutions business to its energy-services portfolio.

  32. Purely Elizabeth LLC (8/14/2026)
    Ferrero International S.A. of Senningerberg, Luxembourg, agreed to acquire Purely Elizabeth LLC of Boulder, CO, expanding its American breakfast and better-for-you food portfolio.

  33. Northumberland Gold Project (8/18/2026)
    StrikePoint Gold Inc. of Vancouver, Canada, agreed to acquire the Northumberland Gold Project from Newmont USA Limited and Fronteer Development LLC, for $120 million, adding the gold project to its resource portfolio.

  34. Pilgrim's Pride Corporation (8/18/2026)
    JBS N.V. of Amstelveen, Netherlands, submitted a non-binding proposal to acquire the remaining 17.92% stake in Pilgrim's Pride Corporation of Greeley, CO, for $1,196.08 million, consolidating full ownership and proposing to delist the company from Nasdaq.

  35. we-do-IT, Inc. (8/18/2026)
    TIC Solutions, Inc. of Hollywood, FL, acquired we-do-IT, Inc. of Broomfield, CO, adding IT consulting operations in a transaction expected to support its long-term financial targets.

  36. CarsonDoyle (8/19/2026)
    The Variable of Winston-Salem, NC, acquired CarsonDoyle of Denver, CO, expanding its Denver advertising-services presence.

  37. Summit Dermatology, Pc (8/24/2026)
    Golden State Dermatology, Inc. of Walnut Creek, CA, acquired Summit Dermatology, Pc of Colorado Springs, CO, expanding its Colorado Springs dermatology-services presence.

  38. 7 Brew (8/31/2026)
    The Boulder Group of Northbrook, IL, acquired the 7 Brew asset in CO, for $1.825 million, adding the Colorado asset identified in the dataset to its holdings.

  39. Elixinol LLC (8/31/2026)
    Ananda Health, Inc. of Georgetown, KY, acquired Elixinol LLC of Broomfield, CO, for approximately $335,183, adding the US business while the seller retained international brand and intellectual-property rights.

  40. 10X People, LLC (9/1/2026)
    Banyan Software Holdings, LLC of Wilmington, DE, acquired 10X People, LLC of Littleton, CO, adding a Littleton-based application-software business to its portfolio.

  41. BSW Wealth Partners, Inc., a Public Benefit Corporation (9/1/2026)
    Sequoia Financial Group, LLC of Akron, OH, acquired BSW Wealth Partners, Inc., a Public Benefit Corporation of Boulder, CO, expanding its Boulder investment-advisory presence.

  42. InnoFin Solutions LLC (9/1/2026)
    Ascend Partners Inc. of Toronto, Canada, acquired InnoFin Solutions LLC (listed as Irvine, CO; location requires verification), adding an IT consulting business to its operations.

  43. Super Gas, Inc. (9/1/2026)
    Buckeye Welding Supply Company, LLC of Greeley, CO, acquired Super Gas, Inc. of Longmount, CO (city spelling as supplied), expanding its Colorado distribution operations.

  44. United Transportation Services, Inc. (9/1/2026)
    Fitzmark, Inc. of Indianapolis, IN, acquired United Transportation Services, Inc. of Aurora, CO, adding Aurora-based ground-transportation operations.

  45. First American Bancorp (9/2/2026)
    Parkside Financial, Inc. of Clayton, MO, agreed to acquire First American Bancorp of Greenwood Village, CO, entering Arapahoe County and broadening the acquired bank's commercial banking and wealth services.

  46. InBankshares, Corp (9/2/2026)
    First National Bank of Omaha of Omaha, NE, agreed to acquire InBankshares, Corp of Greenwood Village, CO, for $195.50 million, expanding its Colorado branch network and entering New Mexico.

  47. Serpentix Conveyor Corporation, Inc. (9/2/2026)
    NWPX Infrastructure, Inc. of Vancouver, WA, acquired Serpentix Conveyor Corporation, Inc. of Westminster, CO, adding a Westminster-based industrial-machinery business to its operations.

  48. Transact Bank, National Association (9/2/2026)
    TabaPay, Inc. of Palo Alto, CA, signed a letter of intent to acquire Transact Bank, National Association of Denver, CO, establishing the proposed TabaBank alongside TabaPay under TabaHoldings.

  49. Gaming Hospitality Solutions, Inc. (9/4/2026)
    Agilysys, Inc. of Alpharetta, GA, acquired Gaming Hospitality Solutions, Inc. of CO, adding the GHS team and solutions serving gaming and cruise customers.

  50. Mount Evans Consulting Llc (9/8/2026)
    Bond Consulting Services of Long Beach, CA, acquired Mount Evans Consulting Llc of Pine, CO, adding a Pine-based IT consulting business to its operations.

  51. Heritage Environmental Consultants, Llc (9/9/2026)
    Integral Consulting Inc. of Boulder, CO, acquired Heritage Environmental Consultants, Llc of Denver, CO, expanding its Denver environmental-consulting presence.

  52. Integral Consulting Inc. (9/10/2026)
    Audax Management Company, LLC of Boston, MA, acquired a minority stake in Integral Consulting Inc. of Boulder, CO, partnering with the existing leadership while management and employees retained meaningful ownership.

  53. Encompass Technologies, Inc. (9/14/2026)
    Vermont Information Processing, LLC of Colchester, VT, acquired Encompass Technologies, Inc. of Fort Collins, CO, adding a Fort Collins-based application-software business while retaining transition leadership.

  54. Sand Cherry Associates, Inc. (9/14/2026)
    Wavestone SA of Paris, France, acquired Sand Cherry Associates, Inc. of Denver, CO, for $12 million, expanding its Denver consulting-services presence.

  55. McMillan Insurance & Bonding Inc (9/15/2026)
    Arthur J. Gallagher & Co. of Rolling Meadows, IL, acquired McMillan Insurance & Bonding Inc of CO, expanding its Colorado insurance-brokerage operations.

  56. Boulder Integrated Health, LLC (9/16/2026)
    Ignitus Recovery acquired Boulder Integrated Health, LLC of Boulder, CO (identified in the deal summary as AIM Health, LLC), adding the health-care business identified in the dataset to its operations.

  57. Element Home Services (9/17/2026)
    Radiant Intermediate Holding, LLC of Austin, TX, acquired Element Home Services of Durango, CO, supporting the business with technology, marketing and finance resources while retaining its brand and local leadership.

  58. Vista Gold Corp. (9/21/2026)
    Artemis Gold Inc. of Vancouver, Canada, entered into an arrangement agreement to acquire the remaining 95.05% stake in Vista Gold Corp. of Englewood, CO, for $356.74 million, combining the companies through an arrangement expected to leave Vista shareholders with approximately 5% of the resulting company.

  59. PickNik Inc (9/23/2026)
    Qualcomm Technologies, Inc. of San Diego, CA, agreed to acquire PickNik Inc of Boulder, CO, adding a Boulder-based systems-software business to its operations.

  60. Maxwell Financial Labs, Inc. (9/24/2026)
    Place Real Estate, Inc. of Bellingham, WA, acquired Maxwell Financial Labs, Inc. of Littleton, CO, adding a Littleton-based application-software business to its operations.

  61. ForceMetrics Inc. (9/28/2026)
    Mark43, Inc. of New York, NY, acquired ForceMetrics Inc. of Denver, CO, bringing ForceMetrics' team and solutions to more public-safety agencies.

  62. Integrated Medical Evaluations, Inc. (9/29/2026)
    Ethos Risk Services, LLC of Saint Petersburg, FL, acquired Integrated Medical Evaluations, Inc. of Centennial, CO, adding medical-evaluation services while preserving the existing team and providing access to the broader Ethos platform.

  63. Harvest Hosts Opco LLC (9/30/2026)
    Choice Hotels International, Inc. of North Bethesda, MD, agreed to acquire Harvest Hosts Opco LLC of Vail, CO, for $130 million, adding Harvest Hosts as a standalone business with its team joining Choice Hotels.

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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Q2 2026 | Colorado M&A Insights