April 2025 | Colorado 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.
April 2025 - National Transaction Value ($bn) and Transaction Count
Targets in Colorado
Colorado - Transaction Value and Count by Month
Colorado — Business Sale Overview
In April 2025, Colorado’s M&A landscape featured 26 transactions targeting companies within the state, spanning sectors such as consumer goods, health care, technology, media, and telecommunications, industrials, and energy. Standout deals included Great Divide Brewing Company in Denver acquired by Wilding Brands LLC on April 1 to enhance the state’s brewer operations, Mind Springs Health in Grand Junction acquired by Health Solutions on April 7 to strengthen health care facilities, and DISH Fiber Internet L.L.C. in Englewood acquired by Mereo 89, LLC on April 30 to expand alternative carrier services. The aggregate disclosed deal value reached approximately $7.35 million, with one of two disclosed deal values being Tech-X Corporation in Boulder acquired by Silvaco Group, Inc. for $7 million on April 29, reflecting Colorado’s growing appeal as a target market for strategic acquisitions across diverse industries. Aggregate Colorado M&A Transaction Count is up 4% MoM, and 14% YoY.
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.
Certain Insurance Assets (April 1, 2025)
BroadStreet Partners, Inc. in Columbus, OH, acquired certain insurance assets from an undisclosed agency on April 1, 2025, enhancing its insurance brokerage services in the financial sector with private equity support.
cQuant.IO, Inc. (April 1, 2025)
ZEMA Global Data Corporation acquired cQuant.IO, Inc. on April 1, 2025, strengthening its application software capabilities in the technology, media, and telecom sector with former CEO David Leevan leading expansion.
Great Divide Brewing Company (April 1, 2025)
Wilding Brands LLC in Denver, CO, acquired Great Divide Brewing Co. on April 1, 2025, expanding its brewer operations in the consumer sector by integrating popular beer brands into its Sunnyside facility.
DaLand Solutions LLC (April 2, 2025)
An undisclosed buyer acquired DaLand Solutions LLC from Nutmeg State Financial Credit Union on April 2, 2025, enhancing its IT consulting services in the technology, media, and telecom sector.
Dry Dock Enterprises, Inc. (April 2, 2025)
Indian Peaks Brewing Co in Denver, CO, acquired Dry Dock Enterprises, Inc. on April 2, 2025, bolstering its other distributors operations in the consumer sector with over $2 million in funding from recent share offerings.
FPS Services, LLC (April 2, 2025)
Congruent Solutions, Inc. in Cupertino, CA, acquired FPS Services LLC on April 2, 2025, expanding its asset management services in the financial sector with a cross-border strategic move.
IncQuery.io, Inc. (April 2, 2025)
PTC Inc. in Boston, MA, acquired IncQuery.io, Inc. on April 2, 2025, enhancing its research and consulting services in the industrials sector with a focus on engineering software solutions.
RRTC of Colorado, Inc. (April 4, 2025)
Gravity Rail LLC acquired RRTC of Colorado, Inc. on April 4, 2025, strengthening its construction and engineering capabilities in the industrials sector.
Mind Springs Health, Inc. (April 7, 2025)
Health Solutions acquired Mind Springs Health on April 7, 2025, expanding its health care facilities in the health care sector with a rebrand to Health Solutions West.
Aqua Engineering Inc (April 8, 2025)
Verdantas LLC acquired Aqua Engineering Inc on April 8, 2025, enhancing its construction and engineering services in the industrials sector with a multi-target acquisition strategy.
DGEB Management, LLC (April 8, 2025)
CoreSite Realty Corporation in Denver, CO, acquired Denver Gas and Electric Building on April 8, 2025, bolstering its internet services in the technology, media, and telecom sector with operational integration.
Uranium Ore from Sunday Mine (April 8, 2025)
Energy Fuels Inc. acquired 25,000 short tons of uranium ore from Western Uranium & Vanadium Corp. on April 8, 2025, expanding its coal and consumable fuels operations in the energy sector.
Kitcaster LLC (April 14, 2025)
Moburst US, Inc. acquired Kitcaster on April 14, 2025, enhancing its movies and entertainment services in the technology, media, and telecom sector.
Wishlist Rewards LLC (April 14, 2025)
ThrivePass, Inc. acquired Wishlist Rewards LLC on April 14, 2025, strengthening its application software offerings in the technology, media, and telecom sector with employee engagement tools.
Cadgen Software LLC (April 16, 2025)
Inspect Point LLC acquired Cadgen Software LLC on April 16, 2025, enhancing its systems software capabilities in the technology, media, and telecom sector.
Datava, Inc. (April 16, 2025)
Cash Flow Management acquired Datava, Inc. on April 16, 2025, expanding its application software services in the technology, media, and telecom sector with Gordon Flammer joining leadership.
Field Services Unlimited LLC (April 17, 2025)
MasonMade Ventures acquired Field Services Unlimited LLC on April 17, 2025, strengthening its construction and engineering operations in the industrials sector with private equity backing.
Giving Place, Inc. (April 21, 2025)
Foundation Source Philanthropic Services Inc. acquired Giving Place, Inc. from TIFIN Give on April 21, 2025, enhancing its application software offerings in the technology, media, and telecom sector.
Joy Lab Consulting, LLC (April 22, 2025)
Investor Group acquired Joy Lab Consulting, LLC on April 22, 2025, expanding its application software capabilities in the technology, media, and telecom sector.
Blue Ring Stencils LLC (April 23, 2025)
StenTech, Inc. acquired Blue Ring Stencils LLC on April 23, 2025, enhancing its electronic components operations in the technology, media, and telecom sector as its third add-on.
Atomos Nuclear & Space Corp (April 24, 2025)
Katalyst Space Technologies LLC in Prescott Valley, AZ, acquired Atomos Nuclear & Space Corp on April 24, 2025, advancing its aerospace and defense capabilities in the industrials sector with private equity support.
KSTY-FM (April 25, 2025)
Frontier Frequencies, LLC agreed to acquire KSTY-FM from Royal Gorge Broadcasting on April 25, 2025, expanding its broadcasting assets in the technology, media, and telecom sector pending FCC approval.
SDxCentral, LLC (April 28, 2025)
InfraXmedia Holdings Ltd. acquired SDxCentral, LLC on April 28, 2025, enhancing its internet services in the technology, media, and telecom sector with distinct brand retention.
Tech-X Corporation (April 29, 2025)
Silvaco Group, Inc. in Santa Clara, CA, acquired Tech-X Corporation for $7 million on April 29, 2025, boosting its application software offerings in the technology, media, and telecom sector.
DISH Fiber Internet L.L.C (April 30, 2025)
Mereo 89, LLC in Phoenix, AZ, acquired DISH Fiber Internet L.L.C from EchoStar Corporation on April 30, 2025, expanding its alternative carriers services in the technology, media, and telecom sector with a rebranding to Mereo Fiber.
Erica Kuhl Consulting, LLC (April 30, 2025)
Gainsight, Inc. in San Francisco, CA, acquired Erica Kuhl Consulting on April 30, 2025, enhancing its research and consulting services in the industrials sector with private equity backing.
Buyers in Colorado
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.
Colorado — M&A Business Acquisition Overview (Buyers)
In April 2025, Colorado-based buyers drove 26 M&A transactions, showcasing activity across diverse sectors including consumer goods, health care, technology, media, and telecommunications, industrials, and energy. Notable deals included Wilding Brands LLC in Lafayette acquiring Great Divide Brewing Company on April 1 to enhance its brewer operations in the consumer sector, ThrivePass, Inc. in Denver securing Wishlist Rewards LLC on April 14 to bolster its application software offerings, and Peak Utility Services Group, Inc. in Arvada completing a $110 million acquisition of 5 Star Electric and related entities on April 14 to expand its unclassified utility services. The aggregate deal value reached approximately $110.7 million, with significant contributions from this utility acquisition and smaller deals like Spruce Power Holding Corporation in Denver’s $1.7 million purchase of 66 solar energy systems on April 24, highlighting Colorado’s growing role as a proactive buyer in strategic acquisitions.
Colorado M&A Deal Summaries — Business Sale Activity for M&A Buyers
Drone-based Property Inspection Services of Bees360 (April 1, 2025)
Eberl Claims Service, LLC in Lakewood, CO, acquired the drone-based property inspection services of Bees360, Inc. on April 1, 2025, enhancing its unclassified property assessment capabilities with a focus on insurance claims efficiency.
Great Divide Brewing Company (April 1, 2025)
Wilding Brands LLC in Lafayette, CO, acquired Great Divide Brewing Co. on April 1, 2025, expanding its brewer operations in the consumer sector by integrating popular beer brands into its Sunnyside facility.
Dry Dock Enterprises, Inc. (April 2, 2025)
Indian Peaks Brewing Co in Longmont, CO, acquired Dry Dock Enterprises, Inc. on April 2, 2025, bolstering its other distributors operations in the consumer sector with over $2 million raised through recent share offerings.
EasyStreet Systems, Inc. (April 2, 2025)
Digicomm International LLC in Englewood, CO, acquired EasyStreet Systems, Inc. on April 2, 2025, enhancing its communications equipment offerings in the technology, media, and telecom sector.
Kinnetic Environmental, Inc. (April 2, 2025)
Integral Consulting Inc. in Boulder, CO, acquired Kinnetic Environmental, Inc. on April 2, 2025, strengthening its unclassified environmental consulting services to address growing demand in California’s commercial sector.
KLH Audio Systems (April 2, 2025)
Innovative Technology Electronics Corp. in Denver, CO, acquired KLH Audio Systems on April 2, 2025, expanding its consumer electronics production in the consumer sector with David Kelley appointed as Brand President.
County Door & Hardware (April 3, 2025)
Prutch's Garage Door in Pueblo, CO, acquired County Door & Hardware on April 3, 2025, enhancing its construction and engineering services in the industrials sector with a focus on hardware solutions.
Mind Springs Health, Inc. (April 7, 2025)
Health Solutions in Pueblo, CO, acquired Mind Springs Health on April 7, 2025, expanding its health care facilities in the health care sector with a rebrand to Health Solutions West under CEO Jason Chippeaux.
DGEB Management, LLC (April 8, 2025)
CoreSite Realty Corporation in Denver, CO, acquired Denver Gas and Electric Building on April 8, 2025, bolstering its internet services in the technology, media, and telecom sector with operational integration.
Uranium Ore from Sunday Mine (April 8, 2025)
Energy Fuels Inc. in Lakewood, CO, acquired 25,000 short tons of uranium ore from Western Uranium & Vanadium Corp. on April 8, 2025, expanding its coal and consumable fuels operations in the energy sector.
InfraStripe Holdings, LLC (April 9, 2025)
Frontline Road Safety Group, LLC in Denver, CO, acquired InfraStripe Holdings, LLC from Soundcore Capital Partners on April 9, 2025, enhancing its diversified support services in the industrials sector.
Neurogen Brain Balancing, LLC (April 9, 2025)
KRTL Holding Group, Inc. in Lakewood, CO, acquired Neurogen Brain Balancing, LLC on April 9, 2025, growing its health care services in the health care sector with a stock-based profit-sharing deal.
Stewart Electric LLC (April 9, 2025)
Loenbro, LLC in Westminster, CO, acquired Stewart Electric LLC on April 9, 2025, strengthening its construction and engineering operations in the industrials sector with private equity backing.
5 Star Electric, LLC/Higher Power Electrical, LLC/Python Equipment LLC (April 14, 2025)
Peak Utility Services Group, Inc. in Arvada, CO, acquired 5 Star Electric, LLC, Higher Power Electrical, LLC, and Python Equipment LLC for on April 14, 2025, expanding its unclassified utility services.
New River Building Supply, Inc. (April 14, 2025)
Kodiak Building Partners, Inc. in Englewood, CO, acquired New River Building Supply & Lumber Company on April 14, 2025, enhancing its home improvement retail operations in the consumer sector.
Strasburg Telephone Company (April 14, 2025)
Eastern Slope Rural Telephone Association, Inc. in Hugo, CO, agreed to acquire Strasburg Telephone Company from Telephone and Data Systems on April 14, 2025, aiming to expand its integrated telecommunication services.
Wishlist Rewards LLC (April 14, 2025)
ThrivePass, Inc. in Denver, CO, acquired Wishlist Rewards LLC on April 14, 2025, strengthening its application software offerings in the technology, media, and telecom sector with employee engagement tools.
Operating Assets of R.D. Prabhu-Lata K Shete, MD's Ltd. (April 16, 2025)
Vivos Therapeutics, Inc. in Littleton, CO, entered a definitive agreement to acquire the operating assets of R.D. Prabhu-Lata K Shete, MD's Ltd. for $9 million on April 16, 2025, enhancing its unclassified health care assets.
Luna Laundry Co., Inc. (April 18, 2025)
All Washed Up Services Inc in Colorado Springs, CO, acquired Luna Laundry Co., Inc on April 18, 2025, expanding its specialized consumer services in the consumer sector with a facilitated transaction.
Preston-Eastin, Inc. (April 21, 2025)
SMX Industrial Solutions Inc in an undisclosed city, CO, acquired Preston-Eastin, Inc. on April 21, 2025, enhancing its machinery and supplies operations in the industrials sector.
Anadigm, Inc. (April 22, 2025)
Okika Devices Corporation in Colorado Springs, CO, acquired Anadigm, Inc. on April 22, 2025, advancing its semiconductors capabilities in the technology, media, and telecom sector with FPAA technology.
Path Company, LLC (April 22, 2025)
Sitelogiq, Inc. in Englewood, CO, acquired Path Company, LLC on April 22, 2025, strengthening its construction and engineering services in the industrials sector with continued leadership retention.
Wings Credit Union (April 23, 2025)
Ent Credit Union in Colorado Springs, CO, agreed to acquire Wings Credit Union in a merger of equals on April 23, 2025, aiming to unify banking operations in the financial sector.
66 Additional Solar Energy Systems (April 24, 2025)
Spruce Power Holding Corporation in Denver, CO, acquired 66 additional solar energy systems for $1.7 million on April 24, 2025, expanding its unclassified renewable energy assets.
KSTY-FM (April 25, 2025)
Frontier Frequencies, LLC in Pueblo, CO, agreed to acquire KSTY-FM from Royal Gorge Broadcasting on April 25, 2025, enhancing its broadcasting assets in the technology, media, and telecom sector.
P L P, Ltd (April 25, 2025)
Frontline Road Safety Group, LLC in Denver, CO, acquired P L P, Ltd from the Gaudelli family on April 25, 2025, strengthening its construction and engineering operations in the industrials sector.
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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