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.

This Quarter - National Transaction Value ($bn) and Transaction Count

Targets in Idaho

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

In Q3 2025, Idaho-based companies were the target of 18 transactions with aggregate disclosed value of ~$6.27 million. As expected for a smaller market, activity skewed toward local and regional bolt-ons across services and industrials, with mining assets driving the disclosed dollar value. The largest reported deals were the Central Idaho Project ($4.97 million; Gold; 9/24/25), 46 Claims ($1.00 million; Gold; 8/26/25), and Toboggan Project ($0.30 million; Gold; 7/31/25). Beyond mining, volume was diversified: insurance brokerage (2), construction & engineering (2), diversified metals/mining (2), and single-deal contributions in packaged foods, health services, advertising, interactive entertainment, asset management, application software, and insurtech. Overall, the quarter reflects steady middle-market consolidation and selective asset purchases rather than large platform trades—consistent with Idaho’s niche, founder-led company base and the Mountain West’s pragmatic buyer profile.

Idaho — Strategic vs. Sponsor-led Activity

Idaho — X / Y Plot By Sector

Idaho — M&A Segmentation

Idaho — Sector Breakdown

Second Level Primary Industry 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. Undisclosed Insurance Agency (07/01/2025)
• PCF Insurance Services of the West, LLC acquired an undisclosed insurance agency in Idaho for an undisclosed value, expanding its brokerage operations. The deal strengthens PCF’s presence in the Idaho insurance market.

2. Intermountain Packing, LLC (07/10/2025)
• American Farmers Network, Inc. acquired Intermountain Packing, LLC in Idaho Falls, ID for an undisclosed value, enhancing its packaged foods and meats production. The acquisition supports American Farmers Network’s supply chain in organic meat processing.

3. Fuhriman Insurance Agency, Inc. (07/14/2025)
• PCF Insurance Services of the West, LLC acquired Fuhriman Insurance Agency, Inc. in Boise, ID for an undisclosed value, growing its insurance broker portfolio. The deal integrates Fuhriman’s local client base into PCF’s network.

4. Fire Sentry Systems, Inc. (07/15/2025)
• Pye-Barker Fire & Safety, LLC acquired Fire Sentry Systems, Inc. in Kuna, ID for an undisclosed value, expanding construction and engineering services. The acquisition enhances Pye-Barker’s fire-safety solutions in Idaho.

5. Tamarack Defense LLC (07/29/2025)
• CSP Associates, Inc. acquired a majority stake in Tamarack Defense LLC in Coeur d’Alene, ID for an undisclosed value, with founders Theo Egan and Logan Slone rejoining as Managing Directors. The deal bolsters CSP’s advertising and defense-consulting capabilities.

6. Toboggan Project (07/31/2025)
• Idaho Strategic Resources, Inc. acquired the Toboggan Project from Hecla Silver Valley Inc. in Idaho for $0.3 million, targeting gold-mining expansion. The acquisition adds strategic claims to Idaho Strategic’s portfolio.

7. Horse Heaven Project (08/02/2025)
• Snow Lake Resources Ltd. proposed to acquire the Horse Heaven Project in Idaho from Resolution Minerals Ltd for A$225 million, focusing on mineral exploration. The deal aims to develop the project’s gold potential in central Idaho.

8. RescueStat LLC (08/08/2025)
• Cardio Partners, Inc. acquired RescueStat LLC in Meridian, ID for an undisclosed value, enhancing health-care services with AED management technology. The acquisition integrates RescueStat’s team into Cardio Partners’ operations.

9. Blocksmith, Inc. (08/22/2025)
• Mastery Coding, Inc. acquired STEM Forged from Blocksmith, Inc. in Meridian, ID for an undisclosed value, expanding interactive educational entertainment offerings. The deal bolsters Mastery Coding’s gaming and learning platform.

10. 46 Claims (08/26/2025)
• Freeman Gold Corp. agreed to acquire 46 claims in Idaho from BHLK-2 LLC for $1 million, targeting gold exploration. The transaction is expected to complete in 2026.

11. Idaho Steel Products, Inc. / Reyco Systems, Inc. (08/27/2025)
• Investindustrial VIII SCSp acquired Idaho Steel Products, Inc. and Reyco Systems, Inc. in Idaho from the Bradshaw and Christensen families for an undisclosed value, focusing on industrial food-processing equipment. The deal supports Investindustrial’s expansion in manufacturing.

12. West Oak Capital, LLC (09/02/2025)
• Mercer Global Advisors Inc. acquired West Oak Capital, LLC in Eagle, ID for an undisclosed value, growing its asset-management platform. The acquisition integrates West Oak’s client assets into Mercer’s national advisory network.

13. K & T Steel Corporation (09/03/2025)
• Keegan and Bart Graves acquired K & T Steel Corporation in Twin Falls, ID for an undisclosed value, maintaining its name and operations in diversified metals and mining. The deal ensures continuity in steel production services.

14. Thueson Construction, Inc. (09/04/2025)
• Suncore Construction & Materials Inc. acquired Thueson Construction, Inc. in Nampa, ID for an undisclosed value, expanding construction and engineering capabilities. The acquisition enhances Suncore’s project delivery in Idaho.

15. Central Idaho Project (09/24/2025)
• Trigg Minerals Limited agreed to acquire the Central Idaho Project in Idaho from Wyoming Mines Inc. for $4.97 million, targeting gold development. The transaction is subject to due diligence and regulatory approvals.

16. MarkMonitor Inc. (09/24/2025)
• Nom-IQ Limited entered an agreement to acquire MarkMonitor Inc. in Meridian, ID from Newfold Digital, Inc. for an undisclosed value, with headquarters remaining in Boise post-closure. The deal combines domain-management and brand-protection services.

17. Yellow Pine Project (09/25/2025)
• Red Mountain Mining Limited acquired the Yellow Pine Project in Idaho through staking for an undisclosed value, focusing on diversified metals and mining. The project is located in the Stibnite Mining District.

18. COVR Financial Technologies, Inc. (09/29/2025)
• Optifino, Inc. acquired COVR Financial Technologies, Inc. in Boise, ID for an undisclosed value, making it a wholly owned subsidiary with David Kleinhandler as CEO. The deal enhances Optifino’s insurance-technology capabilities.

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.

Q3 2025 | Idaho M&A Insights