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.

Targets in Montana

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

In Q3 2026, Montana-based target companies recorded 11 M&A transactions, with two transactions reporting values totaling approximately $13.105 million. The $10.48 million acquisition of the Horseshoe Bend Wind Project represented approximately 80% of total disclosed value; excluding that transaction, disclosed value totaled approximately $2.625 million. Buyer activity was led primarily by strategic and operating-company acquirers, complemented by institutional sponsors including Continuim Equity Partners, CIVC Partners, and Sverica Capital Management. The buyer universe was overwhelmingly out-of-state or international, with technology and professional services, infrastructure and connectivity, and energy and critical minerals emerging as prominent sector themes. The breadth of activity continued to position Montana as an active seller market attracting capital from national and international acquirers.

The quarter’s largest disclosed transaction was ReVolve Renewable Power’s approximately $10.48 million acquisition of the Horseshoe Bend Wind Project, a 9.6-megawatt operating asset that gives ReVolve its first operating power-generation project in the United States. SCALI’s approximately $2.625 million acquisition of Belgrade-based Southwestern Montana Insurance Center represented the quarter’s other disclosed transaction and expanded the Arizona-based insurance platform into Montana. Several meaningful transactions did not disclose consideration, including Vero Broadband’s agreement to acquire Kalispell-based MontanaSky, MacKay’s acquisition of Butte-based Pioneer Technical Services to establish an Intermountain regional platform, and A-LIGN’s acquisition of Bozeman-based cybersecurity firm Pathfynder.

Institutional capital was also active during the quarter. Continuim Equity Partners acquired a majority interest in Butte-based Resodyn as a platform investment in industrial mixing and materials processing, CIVC Partners partnered with Billings-based Cushing Terrell to support continued strategic expansion, and Sverica Capital made a growth investment in Bozeman-based Atrium. Taken together, Q3 activity reinforced Montana’s ability to attract strategic acquirers and private equity capital across a broad range of specialized businesses, offering founder-owners multiple potential exit pathways even in a market where transaction values are frequently undisclosed.

Montana — Strategic vs. Sponsor-led Activity

Montana — X / Y Plot By Sector

Montana — M&A Segmentation

Montana — Sector Breakdown

Second Level Primary Industry Breakdown

Montana 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.

Rockets Gourmet Wraps & Sodas (7/10/2026)
PJ Eldridge and Crystal Eldridge acquired Rockets Gourmet Wraps & Sodas of Billings, MT, from founders Brian and Gala Thompson, transitioning ownership of the longstanding downtown restaurant to new operators.
Montana Party Rentals (7/16/2026)
Curated Events of Raleigh, NC, acquired Montana Party Rentals of Bozeman, MT, supporting continued growth of the specialty event-rental business while retaining its local leadership and operating team.
Pioneer Technical Services, Inc. (7/22/2026)
MacKay Sposito, LLC of Vancouver, WA, acquired Pioneer Technical Services, Inc. of Butte, MT, establishing an Intermountain regional platform and expanding its engineering and environmental capabilities across Montana and Idaho.
Montana Sky Networks, Inc. (8/18/2026)
Vero Broadband, LLC of Denver, CO, agreed to acquire Montana Sky Networks, Inc. of Kalispell, MT, combining the companies’ broadband operations while preserving MontanaSky’s local brand, team, and customer relationships.
Additional Claims (8/25/2026)
Palisade Metals Ltd of West Perth, Australia, acquired additional claims at the Finley Basin Project in western Montana through staking, expanding its critical-minerals land position ahead of planned tungsten exploration.
Resodyn Corporation (8/27/2026)
Continuim Equity Partners, LP acquired a majority stake in Resodyn Corporation of Butte, MT, establishing a new industrial mixing and materials-processing platform and providing growth capital for expansion.
Pathfynder Inc. (9/1/2026)
A-LIGN Compliance and Security, Inc. of Tampa, FL, acquired Pathfynder Inc. of Bozeman, MT, adding specialized offensive and defensive cybersecurity capabilities to its broader compliance and security platform.
CTA Inc. (Cushing Terrell) (9/3/2026)
CIVC Partners, L.P. of Chicago, IL, acquired an ownership interest in CTA Inc. (Cushing Terrell) of Billings, MT, supporting the multidisciplinary design firm’s growth, market expansion, technology modernization, and acquisition strategy.
Atrium Insight Inc. (9/9/2026)
Sverica Capital Management LP of Boston, MA, acquired a minority stake in Atrium Insight Inc. of Bozeman, MT, providing growth capital to the AI-native consulting and data-transformation platform.
Horseshoe Bend Wind Project (9/11/2026)
ReVolve Renewable Power Corp. of Vancouver, Canada, agreed to acquire the Horseshoe Bend Wind Project in Montana for approximately $10.48 million, adding a 9.6-megawatt operating wind asset and establishing its first operating power-generation project in the United States.
Southwestern Montana Insurance Center, LLC (9/11/2026)
SCALI, LLC of Scottsdale, AZ, acquired Southwestern Montana Insurance Center, LLC of Belgrade, MT, for approximately $2.625 million, expanding its insurance-agency platform into Montana.

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 2026 | Montana M&A Insights

Q2 2026 | Montana M&A Insights