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.

2025 - National Transaction Value ($bn) and Transaction Count

Targets in Idaho

Idaho M&A Overview — Business Sale Activity for M&A Targets

Idaho’s 2025 M&A market demonstrated both breadth and strategic depth, with 53 announced transactions spanning financial services, industrials, technology, natural resources, healthcare, and consumer-facing businesses. While headline deal value was anchored by the $8.4 billion acquisition of Clearwater Analytics Holdings, Inc., the broader landscape reflected a steady flow of lower-middle-market transactions that underscore Idaho’s continued emergence as a magnet for both strategic and private equity capital.

Financial services consolidation remained a defining theme throughout the year. Glacier Bancorp, Inc.’s $212 million acquisition of Bank of Idaho Holding Company reinforced regional banking scale, while multiple wealth management transactions—including acquisitions of Sanctuary Wealth Management, West Oak Capital, TBFM LLP, and McConnell Financial Advisors—highlighted the ongoing roll-up dynamic in fiduciary and advisory services. Strategic buyers from across the Mountain West and Southeast continued to view Idaho as an attractive growth market with strong demographic tailwinds and high-net-worth in-migration. For founder-led RIAs and specialty financial platforms, 2025 reflected an active buyer universe seeking recurring revenue and scalable client relationships.

Industrial, construction, and specialty manufacturing activity also accelerated, with transactions involving Idaho Steel Products, Snake River Truss & Components, Thueson Construction, and K & T Steel Corporation pointing to continued investment in hard-asset businesses tied to regional growth. At the same time, Idaho’s natural resources sector saw significant consolidation across precious metals, lithium, and copper exploration assets, including the $84 million acquisition of Crescent Silver and multiple claim and project purchases in the Silver Valley district. Technology and healthcare added further diversification to the deal landscape, highlighted by acquisitions of MarkMonitor, COVR Financial Technologies, Tackle.io, Direct Radiology, and Triad Behavioral Health.

For Idaho business owners, the message in 2025 was clear: buyers remain highly selective but well-capitalized, particularly in businesses with durable cash flows, defensible market positioning, and scalable operating models. Whether in banking, industrial manufacturing, technology infrastructure, mining, or specialty services, strategic acquirers and financial sponsors continue to look to Idaho as a stable, growth-oriented market within the broader Mountain West corridor.

Idaho — Strategic vs. Sponsor-led Activity

Idaho — X / Y Plot By Sector

Idaho — M&A Segmentation

Idaho — Sector Breakdown

Idaho 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. Direct Radiology, LLC (1/7/2025)

ONRAD, Inc. of Riverside, CA, acquired Direct Radiology, LLC of Coeur d'Alene, ID, consolidating its teleradiology services platform across the Pacific Northwest market.

2. Marler Auto Supply Inc. (1/7/2025)

B&R Autowrecking of Corvallis, OR, acquired Marler Auto Supply Inc. of Idaho Falls, ID, expanding its auto parts and salvage operations into the Idaho market.

3. Trust and Wealth Management Division of Bank of Idaho (1/7/2025)

Idaho Trust Bancorp of Boise, ID, acquired Trust and Wealth Management Division of Bank of Idaho, consolidating specialized fiduciary services and high-net-worth client management capabilities in the Idaho market.

4. Bank of Idaho Holding Company (1/13/2025)

Glacier Bancorp, Inc. of Kalispell, MT, acquired Bank of Idaho Holding Company of Idaho Falls, ID for $212M, consolidating its presence in the Idaho banking market.

5. Two FM Stations (2/3/2025)

Nelly Broadcasting Idaho, LLC of Clarkston, WA, acquired Two FM Stations for $0M, consolidating its regional radio market presence and expanding its broadcast footprint.

6. PedSafety (2/7/2025)

Pelco Products, Inc. of Edmond, OK, acquired PedSafety of Boise, ID, strengthening its pedestrian safety and traffic control solutions portfolio.

7. Additional Mining Rights (2/12/2025)

American Tungsten Corp. acquired Additional Mining Rights, expanding its resource base and strengthening its position in the tungsten extraction market.

8. KGVI-FM (2/20/2025)

Salt & Light Radio, Inc. of Boise, ID, acquired KGVI-FM for $0M, expanding its Christian broadcasting footprint and listener reach in the regional market.

9. Assets of Unity GoldSilver Mines Inc. (2/24/2025)

Sidney Resources Corp. of Coeur d'Alene, ID, acquired Assets of Unity GoldSilver Mines Inc., consolidating its precious metals mining operations and mineral resource portfolio.

10. Sanctuary Wealth Management, LLC (3/14/2025)

Merit Financial Group, LLC of Alpharetta, GA, acquired Sanctuary Wealth Management, LLC of Pocatello, ID, strengthening its wealth management capabilities and expanding its geographic reach into the Idaho market.

11. New-FM (3/19/2025)

Salt & Light Radio, Inc. of Boise, ID, acquired New-FM for $0M, expanding its Christian broadcasting footprint and strengthening its radio station portfolio in the regional market.

12. 147 Claims (3/20/2025)

NevGold Corp. acquired 147 Claims, consolidating its mineral exploration portfolio and strengthening its position in precious metals development.

13. Rubber Ducky Car Wash/Snake River Car Wash (4/24/2025)

Tagg N Go Express Car Wash, LLC of Saint George, UT, acquired Rubber Ducky Car Wash/Snake River Car Wash, consolidating its presence in the regional car wash market.

14. Ednetics Incorporated (5/6/2025)

MGT Impact Solutions, LLC of Tampa, FL, acquired Ednetics Incorporated of Post Falls, ID, strengthening its technology consulting capabilities and expanding its geographic presence in the Pacific Northwest.

15. Wealth Ops, LLC (5/6/2025)

Branzan Investment Advisors, Inc. of Littleton, CO, acquired Wealth Ops, LLC of Eagle, ID, strengthening its wealth management technology and operational capabilities.

16. TBFM LLP (6/4/2025)

EP Wealth Advisors, LLC of Torrance, CA, acquired TBFM LLP of Boise, ID, expanding its wealth management presence in the Idaho market.

17. Horse Heaven Project (6/11/2025)

Resolution Minerals Ltd acquired Horse Heaven Project for $24M, expanding its mineral exploration and development portfolio in the mining sector.

18. Fresca Mexican Foods, LLC (6/23/2025)

C.H. Guenther & Son LLC. of San Antonio, TX, acquired Fresca Mexican Foods, LLC of Caldwell, ID, strengthening its specialty food portfolio with authentic Mexican food manufacturing capabilities.

19. Porphyry Project (6/27/2025)

Copper Quest Exploration Inc. acquired Porphyry Project for $0M, expanding its mineral exploration portfolio with strategic copper development assets.

20. Fuhriman Insurance Agency, Inc. (7/1/2025)

PCF Insurance Services of the West, LLC of Lindon, UT, acquired Fuhriman Insurance Agency, Inc. of Boise, ID, strengthening its regional presence in the Idaho insurance market.

21. Intermountain Packing, Llc (7/10/2025)

American Farmers Network, Inc of Seattle, WA, acquired Intermountain Packing, Llc of Idaho Falls, ID, strengthening its agricultural supply chain and processing capabilities in the Mountain West region.

22. Fire Sentry Systems, Inc. (7/15/2025)

Pye-Barker Fire & Safety, LLC of Alpharetta, GA, acquired Fire Sentry Systems, Inc. of Kuna, ID, reinforcing its nationwide fire protection and safety services platform.

23. Tamarack Defense LLC (7/29/2025)

CSP Associates, Inc. of Cambridge, MA, acquired Tamarack Defense LLC of Coeur d'Alene, ID, strengthening its defense and tactical equipment capabilities.

24. Toboggan Project (7/31/2025)

Idaho Strategic Resources, Inc. of Coeur d'Alene, ID, acquired Toboggan Project for $0M, expanding its mineral exploration portfolio in the regional mining sector.

25. Horse Heaven Project (8/6/2025)

Snow Lake Resources Ltd. acquired Horse Heaven Project, expanding its lithium development portfolio and strengthening its position in North America's critical minerals sector.

26. RescueStat LLC (8/8/2025)

Cardio Partners, Inc. of Dublin, OH, acquired RescueStat LLC of Meridian, ID, strengthening its emergency cardiac care and resuscitation technology capabilities.

27. Blocksmith, Inc. (8/22/2025)

Mastery Coding, Inc. of Thousand Oaks, CA, acquired Blocksmith, Inc. of Meridian, ID, strengthening its blockchain development and educational technology capabilities.

28. 46 Claims (8/26/2025)

Freeman Gold Corp. acquired 46 Claims for $1M, consolidating its mineral rights portfolio and strengthening its position in gold exploration activities.

29. Rangen (8/26/2025)

Balmoral Funds LLC of Los Angeles, CA, acquired Rangen of Buhl, ID, strengthening its portfolio in the aquaculture and fish nutrition sector.

30. Idaho Steel Products, Inc./Reyco Systems, Inc. (8/27/2025)

InvestIndustrial acquired Idaho Steel Products, Inc./Reyco Systems, Inc., consolidating its position in the heavy-duty truck suspension and steel fabrication markets.

31. West Oak Capital, LLC (9/2/2025)

Mercer Global Advisors Inc. of Denver, CO, acquired West Oak Capital, LLC of Eagle, ID, strengthening its wealth management presence in the Mountain West region.

32. K & T Steel Corporation (9/3/2025)

Private Investor acquired K & T Steel Corporation of Twin Falls, ID, strengthening its position in the regional steel manufacturing and distribution market.

33. Thueson Construction, Inc. (9/4/2025)

Suncore Construction & Materials Inc. acquired Thueson Construction, Inc. of Nampa, ID, strengthening its construction services presence in the Idaho market.

34. Central Idaho Project (9/24/2025)

Trigg Minerals Limited acquired Central Idaho Project for $5M, expanding its North American mineral exploration portfolio and strengthening its presence in strategic mining jurisdictions.

35. MarkMonitor Inc. (9/24/2025)

Nom-IQ Limited acquired MarkMonitor Inc. of Meridian, ID, strengthening its brand protection and digital risk management capabilities.

36. Yellow Pine Project (9/25/2025)

Red Mountain Mining Limited acquired Yellow Pine Project, expanding its mineral resource portfolio and strengthening its position in the mining sector.

37. COVR Financial Technologies, Inc. (9/29/2025)

Optifino, Inc. of New York, NY, acquired COVR Financial Technologies, Inc. of Boise, ID, strengthening its fintech capabilities and expanding its financial technology solutions portfolio.

38. Silver Dollar Project (10/7/2025)

Red Mountain Mining Limited acquired Silver Dollar Project, expanding its precious metals portfolio and strengthening its mining asset base.

39. Triad Behavioral Health LLC (10/13/2025)

Level Education Group LLC of South Jordan, UT, acquired Triad Behavioral Health LLC of Coeur d'Alene, ID, strengthening its behavioral health services portfolio and expanding its geographic footprint in the Pacific Northwest.

40. Waste Technology Services, LLC (10/14/2025)

Northstar Recycling Company, Inc. of East Longmeadow, MA, acquired Waste Technology Services, LLC of Lewiston, ID, expanding its waste management operations into the Pacific Northwest market.

41. Fahey Property (10/20/2025)

Silver Hammer Mining Corp. acquired Fahey Property for $2M, expanding its mineral exploration footprint and resource development capabilities.

42. Ranger-Page Property (10/27/2025)

Silver Valley Metals Corp. of Kellogg, ID, acquired Ranger-Page Property for $4M, expanding its mineral exploration portfolio in the prolific Silver Valley mining district.

43. 41 Lode Claims (11/3/2025)

Pioneer Lithium Limited acquired 41 Lode Claims, expanding its mineral rights portfolio and strengthening its position in lithium exploration and development.

44. Silverwood, Inc. (11/12/2025)

Herschend Family Entertainment Corporation of Peachtree Corners, GA, acquired Silverwood, Inc. of Athol, ID, strengthening its portfolio of family-focused theme park and entertainment destinations.

45. Crescent Silver, LLC (11/13/2025)

Americas Gold and Silver Corporation acquired Crescent Silver, LLC of Kellogg, ID for $84M, consolidating its precious metals mining operations in the strategic Idaho silver district.

46. Two Solar and Storage Projects (11/13/2025)

rPlus Energies, LLC of Salt Lake City, UT, acquired Two Solar and Storage Projects, strengthening its renewable energy portfolio with additional clean power generation and battery storage capabilities.

47. Additional Claims (11/20/2025)

Red Mountain Mining Limited acquired Additional Claims, expanding its mineral resource base and exploration opportunities.

48. Tackle.io, Inc. (12/1/2025)

AppDirect, Inc. of San Francisco, CA, acquired Tackle.io, Inc. of Boise, ID, strengthening its cloud marketplace platform with enhanced partner ecosystem management capabilities.

49. Snake River Truss & Components, LLC (12/5/2025)

Franklin Building Supply Co. of Boise, ID, acquired Snake River Truss & Components, LLC of Idaho Falls, ID, strengthening its structural building components capabilities across Idaho's construction markets.

50. 175-unit River Edge (12/8/2025)

Investor Group acquired 175-unit River Edge, expanding its multifamily residential portfolio in the rental housing market.

51. Mcconnell Financial Advisors, LLC (12/16/2025)

Mercer Global Advisors Inc. of Denver, CO, acquired Mcconnell Financial Advisors, LLC of Boise, ID, strengthening its wealth management presence in the Pacific Northwest market.

52. Riverside, Inc. (12/17/2025)

Impel Company of Bellevue, WA, acquired Riverside, Inc. of Parma, ID, strengthening its regional presence in the Pacific Northwest market.

53. Clearwater Analytics Holdings, Inc. (12/21/2025)

Investor Group acquired Clearwater Analytics Holdings, Inc. of Boise, ID for $8,400M, consolidating its position in the investment management technology and analytics software market.

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.

2025 Year in Review | Idaho M&A Insights

Q4 2025 | Idaho M&A Insights