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Targets in Idaho

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

In Q2 2026, Idaho-based target companies recorded 21 M&A transactions with approximately $229.05 million of aggregate disclosed transaction value. Only four transactions carried a disclosed value in the supplied data, and Sterling Infrastructure’s acquisition of Stone Ridge Contracting accounted for approximately 79% of the disclosed total; excluding that transaction, disclosed value was approximately $47.60 million. Buyer activity skewed heavily toward out-of-state acquirers, with only two buyers identified as Idaho-based, while the broader mix included strategic and operating acquirers, financial sponsors, and resource-focused buyers. Activity was particularly visible across mining and natural resources, construction and engineering, and marketing and business services, reinforcing Idaho’s position as a durable exit market for both operating businesses and resource assets.

The largest disclosed transaction was Sterling Infrastructure’s approximately $181.45 million acquisition of Pocatello-based Stone Ridge Contracting, which brought the contractor into Sterling’s E-Infrastructure Solutions segment. T1 Energy also entered into a $47.1 million agreement to acquire Coeur d'Alene-based KORE Power, adding an Idaho electrical-components platform through a transaction incorporating equity, cash, assumed debt, and contingent consideration. Resource activity was frequent but smaller in disclosed dollar terms, including WestGold Metals’ approximately $0.40 million agreement for a 90% interest in three Owyhee District projects and QEM Limited’s approximately $0.10 million acquisition agreement for the Big It and Vaught-Peck Columbite projects.

The quarter reinforced the breadth of strategic interest in Idaho businesses and assets, particularly from buyers headquartered outside the state. For founder-owners and sponsors evaluating exit opportunities, the activity points to a diversified buyer universe across industrial services, healthcare, insurance, marketing, and natural resources, while the concentration of disclosed value in one transaction also underscores the importance of looking beyond headline aggregate value when assessing underlying middle-market conditions.

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.

Vertical Raise, LLC (4/1/2026)
Arbiter, LLC of Sandy, UT, acquired Vertical Raise, LLC of Coeur d'Alene, ID, adding a fundraising platform while retaining Vertical Raise’s existing leadership and operations.
20 Additional Claims (4/7/2026)
Discovery Alaska Limited of Osborne Park acquired 20 additional claims at the Boulder Creek Project in Idaho, expanding its project footprint approximately 90 kilometers southwest of Boise.
SmashBrand LLC (4/9/2026)
Salem One, Inc. of Winston-Salem, NC, acquired SmashBrand LLC of Boise, ID, preserving SmashBrand’s brand, leadership team, and proprietary methodology within the combined organization.
Two Projects (4/15/2026)
QEM Limited of Brisbane agreed to acquire the Big It and Vaught-Peck Columbite projects in Idaho for approximately $0.10 million, adding exposure to the Coeur d’Alene mineral belt and a rare-metal pegmatite system in Boise County.
Gem State Insurance Company (4/21/2026)
Ohio Mutual Insurance Group of Bucyrus, OH, reached an agreement to acquire Gem State Insurance Company of Gooding, ID, expanding its insurance presence into Idaho.
Intermountain Medical Imaging, LLC (4/30/2026)
RadNet, Inc. of Los Angeles, CA, acquired a majority stake in Intermountain Medical Imaging, LLC of Boise, ID, establishing a five-location joint venture with Saint Alphonsus Health System that is projected to generate approximately $30 million of annual revenue for RadNet.
Assets of Richardson Insurance (5/12/2026)
Trucordia Insurance Services, LLC of Lindon, UT, acquired the assets of Richardson Insurance of Meridian, ID, expanding its Idaho insurance brokerage operations.
Alta Science And Engineering, Inc. (5/14/2026)
WSB LLC of Minneapolis, MN, acquired Alta Science And Engineering, Inc. of Moscow, ID, strengthening its environmental and natural-systems platform and expanding its ability to serve complex environmental, regulatory, and infrastructure needs.
Automation Werx, LLC (5/14/2026)
Relevant Industrial, LLC of Houston, TX, acquired Automation Werx, LLC of Idaho Falls, ID, adding an Idaho Falls automation business while retaining its existing team and local operations.
Three Projects (5/14/2026)
WestGold Metals Corp. of Vancouver agreed to acquire a 90% interest in the Amie, Silver Rock, and Demming projects in the Owyhee District, ID, for approximately $0.40 million, establishing WestGold as operator across a 79-claim mineral property portfolio.
In the Bag Promotions, Inc. (5/19/2026)
Sky High Marketing of Henderson, NV, acquired In the Bag Promotions, Inc. of Boise, ID, adding an Idaho-based promotional marketing business to its platform.
Heritage Imaging, Inc. (5/28/2026)
Align Capital Partners, LP of Shaker Heights, OH, acquired Heritage Imaging, Inc. of Boise, ID, adding a Boise imaging platform while retaining its chief executive and existing management team.
423 Claims (6/1/2026)
Thunder Mountain Gold, Inc. of Boise, ID, acquired 423 claims at the South Mountain Property in Owyhee County, ID, materially expanding its claim position around the property.
Hayden Beverage Company (6/1/2026)
CoHo Distributing, LLC of Wilsonville, OR, signed a letter of intent to acquire a 30% stake in Hayden Beverage Company of Boise, ID, establishing a significant minority investment in the Idaho beverage distributor.
Stone Ridge Contracting, LLC (6/1/2026)
Sterling Infrastructure, Inc. of The Woodlands, TX, acquired Stone Ridge Contracting, LLC of Pocatello, ID, for approximately $181.45 million, adding the contractor to Sterling’s E-Infrastructure Solutions segment.
KORE Power, Inc. (6/3/2026)
T1 Energy Inc. of Austin, TX, entered into a definitive agreement to acquire KORE Power, Inc. of Coeur d'Alene, ID, for $47.1 million, adding an Idaho-based electrical-components platform through a combination of equity, cash, assumed debt, and contingent consideration.
Fountain Ridge Epithermal Prospect (6/16/2026)
Almadex Minerals Ltd. of Vancouver acquired the Fountain Ridge epithermal precious-metals prospect in Idaho, expanding its precious-metals exploration portfolio through a staking transaction.
ONIT Athlete (6/18/2026)
776 Management, LLC acquired ONIT Athlete of Idaho, backing the company’s next phase of development with Evan Parker joining as chief executive officer.
Turfco, LLC (6/18/2026)
Senske Family of Companies, LLC of Coppell, TX, acquired Turfco, LLC of Idaho Falls, ID, expanding its environmental and facilities-services presence in Idaho.
TC Manufacturing Inc. (6/23/2026)
Teleo Capital Management LLC of Boise, ID, acquired TC Manufacturing Inc. of Boise, ID; however, the supplied deal narrative describes Teleo’s acquisition of Modersys/SmartFactory from Applied Materials rather than TC Manufacturing, so the strategic rationale should be verified before publication.
Service Center Pro (6/30/2026)
PSC Zirtual Acquisition, LLC of Lancaster, PA, acquired Service Center Pro of Boise, ID, bringing the Service Center Pro team into Zirtual.

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.

Q2 2026 | Idaho M&A Insights

Q3 2026 | Idaho M&A Insights

Q1 2026 | Idaho M&A Insights