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 Nevada

Nevada - Transaction Value and Count by Month

Nevada — Business Sale Overview

In the third quarter of 2025, Nevada's mergers and acquisitions landscape showcased notable activity with 37 deals (36 settled), totaling $1.73 billion in disclosed transaction value, reflecting a strategic focus across diverse industries. The materials sector, particularly gold and mining, drove significant value, highlighted by Franco-Nevada Corporation's $275 million acquisition of a 1% NSR on the Arthur Gold Project and another $275 million for the Silicon Project, both enhancing its royalty portfolio in the state. Atlassian Corporation's $1 billion agreement to acquire A Software Company, Inc. in Henderson marked a major technology deal, aiming to bolster its systems software offerings, while West Point Gold Corp.'s $4.63 million purchase of the Baxter Spring Project in Nye County underscored ongoing interest in gold exploration. Private equity-backed transactions accounted for 16% of the deals, including Medical Technology Associates, LLC's acquisition of Silver Reef Biomedical Services, Inc. in Las Vegas and Pye-Barker Fire & Safety, LLC's purchase of Phoenix Fire Protection, LLC, signaling targeted investments in industrials and security services.

Mid-market and cross-sector deals further enriched Nevada's Q3 activity, with a strong presence in Las Vegas and Reno as innovation hubs. Health care and managed care saw strategic moves, such as Kaiser Permanente Inc.'s agreement to acquire an unknown majority stake in Hometown Health Plan, Inc. in Reno, expected to close in early 2026, enhancing its regional footprint. Advertising and technology transactions included previsible.io's acquisition of Internet Marketing Ninjas, Inc. in Pahrump and AVRIO Worldwide, PBC's 60% stake purchase in Zircon Global Technologies in Reno, forming ethos DeFi to advance application software in crypto technology. Real estate and broadcasting added diversity, with Lincoln Property Company Commercial LLC's acquisition of Gatski Commercial Real Estate Services in Las Vegas and KLAP FM Radio Corp.'s $3,838 deal for KLAP-FM in Gerlach, subject to FCC approval. With a balanced mix of local and out-of-state buyers, Nevada's M&A market demonstrated resilience, leveraging its mining heritage and emerging tech sectors to attract investment through the quarter.

Nevada — Strategic vs. Sponsor-led Activity

Nevada — X / Y Plot By Sector

Nevada — M&A Segmentation

Nevada — Sector Breakdown

Second Level Primary Industry Breakdown

Nevada 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. Silver Reef Biomedical Services, Inc (07/02/2025)
• Medical Technology Associates, LLC acquired Silver Reef Biomedical Services, Inc in Las Vegas, NV. This acquisition integrates Silver Reef’s diversified support services into MTA’s family of companies, with the team joining under the existing brand and management structure to enhance biomedical offerings.

2. Additional Mining Claims (07/07/2025)
• Guardian Metal Resources PLC acquired additional mining claims in NV from an undisclosed seller through a staking transaction. The deal expands Guardian’s diversified metals and mining portfolio in Nevada, supporting its exploration and development activities in the region.

3. Internet Marketing Ninjas, Inc. (07/09/2025)
• previsible.io, LLC acquired Internet Marketing Ninjas, Inc. in Pahrump, NV. This transaction strengthens previsible.io’s advertising capabilities by incorporating Internet Marketing Ninjas’ expertise in digital marketing solutions.

4. Total Customer Connect Inc. (07/09/2025)
• Vehlo Holdings, LP acquired Total Customer Connect Inc. in Las Vegas, NV. The acquisition bolsters Vehlo’s advertising and automotive technology platform, enhancing customer engagement tools for dealerships.

5. 1.62% NSR on Gold Quarry Mine (07/11/2025)
• Franco-Nevada Corporation acquired a 1.62% NSR on Gold Quarry Mine in NV from an undisclosed seller for $11.5 million. This royalty acquisition diversifies Franco-Nevada’s gold portfolio, providing long-term revenue from a producing asset.

6. Western Door And Gate LLC (07/16/2025)
• Citadel Access Solutions acquired Western Door And Gate LLC in Las Vegas, NV. The deal expands Citadel’s building-products offerings with Western Door’s expertise in doors and gates, strengthening its market position in access solutions.

7. CasinoSoft, LLC (07/18/2025)
• Pavilion Payments Gaming Services Inc. acquired CasinoSoft, LLC in Las Vegas, NV. This acquisition enhances Pavilion’s casino and gaming services by integrating CasinoSoft’s software solutions for improved payment and management systems.

8. KLAP-FM (07/21/2025)
• KLAP FM Radio Corp. agreed to acquire KLAP-FM in NV from Open Sky Radio Corporation for $3,838, subject to FCC approval. The transaction allows KLAP FM Radio to expand its broadcasting footprint in the Gerlach area with this community-focused station.

9. Gatski Commercial Real Estate Services (07/22/2025)
• Lincoln Property Company Commercial LLC acquired Gatski Commercial Real Estate Services in Las Vegas, NV. This deal positions Lincoln for growth in the Las Vegas market, with Frank Gatski leading the expansion alongside his team of professionals.

10. Three Projects (07/22/2025)
• OceanaGold Corporation signed a letter of intent to acquire a 75% interest in three projects (TJ, Jake Creek, and Hot Creek) in NV from Headwater Gold Inc. through an earn-in transaction for $0.35 million over 10 years. The agreement enables OceanaGold to develop these gold prospects in Nevada, leveraging Headwater’s exploration work.

11. 1% NSR On Arthur Gold Project (07/23/2025)
• Franco-Nevada Corporation acquired a 1% NSR on AngloGold Ashanti plc’s Arthur Gold Project in NV from Altius Minerals Corporation for $275 million. This royalty purchase secures Franco-Nevada’s exposure to potential gold production from the project, enhancing its diversified minerals portfolio.

12. 1% NSR on Silicon Project (07/23/2025)
• Franco-Nevada Corporation acquired a 1% NSR on the Silicon Project (renamed Arthur Gold Project) in NV from Altius Minerals Corporation for $275 million, with pre-emptive rights on the remaining 0.5% NSR. The deal provides Franco-Nevada with royalty interests in AngloGold Ashanti’s gold asset, supporting long-term revenue generation.

13. Mineral Ridge Project (07/24/2025)
• An undisclosed buyer entered into an agreement to acquire the Mineral Ridge Project in NV from Scorpio Gold Corporation for $7.5 million, subject to TSX Venture Exchange approval and closing by August 25, 2025. This transaction allows Scorpio to divest the gold project, with a $0.3 million break fee provision, streamlining its operations.

14. Substantially All of the Assets and Liabilities of Meadows Bank (07/25/2025)
• America First Federal Credit Union entered into an agreement to acquire substantially all of the assets and liabilities of Meadows Bank in Las Vegas, NV. The deal expands America First’s presence in Nevada and Arizona counties, with Meadows operating as Meadows Financial: a division of America First post-closing.

15. Certain Assets (07/26/2025)
• BroadStreet Partners, Inc. acquired certain assets from an undisclosed insurance agency in NV. This acquisition bolsters BroadStreet’s insurance broker operations by integrating specialized assets into its network.

16. Goldfields Project (07/27/2025)
• Nevada Sunrise Metals Corporation acquired a 100% interest in the Goldfields Project in NV from an undisclosed seller for $0.15 million. The deal enhances Nevada Sunrise’s gold exploration portfolio in the Tonopah mining district.

17. New Claims (07/27/2025)
• Lahontan Gold Corp. acquired new claims in NV through a staking transaction. This expansion adds to Lahontan’s diversified metals and mining assets, supporting further exploration in the region.

18. KSNV-TV (07/28/2025)
• Sinclair, Inc. agreed to acquire KSNV-TV in Las Vegas, NV from Howard Stirk Holdings, LLC for $89.5 million, subject to FCC approval and expected to close in Q4 2025. The transaction strengthens Sinclair’s broadcasting presence with the NBC affiliate, including multicast channels.

19. Hometown Health Plan, Inc. (07/30/2025)
• Kaiser Permanente Inc. entered into an agreement to acquire an unknown majority stake in Hometown Health Plan, Inc. in Reno, NV from Renown Health, expected to close in early 2026 subject to regulatory approval. This partnership enhances Kaiser’s managed-care offerings in Nevada through Hometown’s established health plan.

20. Certain Assets (07/30/2025)
• BroadStreet Partners, Inc. acquired certain assets from an undisclosed insurance agency in NV. The deal further expands BroadStreet’s insurance broker capabilities with targeted asset integration.

21. Certain Insurance Assets (08/02/2025)
• BroadStreet Partners, Inc. acquired certain insurance assets from an undisclosed insurance agency in NV. This transaction reinforces BroadStreet’s position in the insurance sector by adding valuable assets to its portfolio.

22. BOLO Project (08/18/2025)
• Allegiant Gold Ltd. entered into an agreement to acquire a 49.99% interest in the Bolo Project in NV from CopAur Minerals Inc. The deal allows Allegiant to expand its gold exploration holdings in Nevada through this joint-venture opportunity.

23. York Claims (08/19/2025)
• Lahontan Gold Corp. signed a binding term sheet to acquire 27 unpatented lode mineral claims (York Claims) in NV from Emergent Metals Corp for $0.2 million. This acquisition strengthens Lahontan’s gold portfolio adjacent to its existing properties.

24. Celts Project (08/25/2025)
• Barrick Mining Corporation acquired 1,743 hectares contiguous to the Celts Project in NV from an undisclosed seller through a staking transaction. The expansion enhances Barrick’s gold exploration potential in the Nevada region.

25. Zircon Global Technologies (09/02/2025)
• AVRIO Worldwide, PBC acquired a 60% stake in Zircon Global Technologies in Reno, NV, forming ethos DeFi with 40% retained by Zircon Holdings Ltd shareholders. This merger combines crypto technology and IP to advance application software in decentralized finance.

26. Dollar Project (09/10/2025)
• EV Resources Limited acquired the Dollar Project in NV from Strategic Minerals Inc for $0.05 million. The deal adds to EV’s diversified metals and mining assets in Nye County, Nevada.

27. Hometown Health Plan, Inc. (09/10/2025)
• Kaiser Permanente Inc. entered into an agreement to acquire an unknown majority stake in Hometown Health Plan, Inc. in Reno, NV from Renown Health, expected to close in early 2026 subject to regulatory approval. The acquisition bolsters Kaiser’s managed-care presence in the region through this strategic partnership.

28. DealerTrend, Inc. (09/11/2025)
• Mudd, Inc. acquired DealerTrend, Inc. in Reno, NV. This transaction enhances Mudd’s IT consulting and other services with DealerTrend’s automotive digital solutions.

29. 223 Unpatented Lode Claims (09/15/2025)
• Dome Rock Resources, LLC acquired interest in 223 unpatented lode claims (core of the Gemini Lithium Project) in NV from Nevada Sunrise Metals Corporation for $0.8 million. The deal positions Dome Rock to advance lithium exploration in Esmeralda County, Nevada.

30. Baxter Spring Project (09/16/2025)
• West Point Gold Corp. entered into an agreement to acquire the Baxter Spring Project in NV from an undisclosed seller for C$5.9 million, with shares subject to a four-month hold period. This acquisition expands West Point’s gold holdings near Kinross’s Round Mountain Mine in Nye County.

31. Phoenix Fire Protection, LLC (09/16/2025)
• Pye-Barker Fire & Safety, LLC acquired Phoenix Fire Protection, LLC in Las Vegas, NV from Tim Myszkowski. The transaction strengthens Pye-Barker’s security and alarm services in the fire protection sector.

32. The Real American Corp (09/16/2025)
• Western Star Resources Inc. signed a Memorandum of Understanding and Letter of Intent to acquire The Real American Corp in NV. This proposed deal aims to consolidate Western Star’s diversified metals and mining operations through due diligence and a definitive agreement.

33. A Software Company, Inc. (09/18/2025)
• Atlassian Corporation entered into a definitive agreement to acquire A Software Company, Inc. in Henderson, NV for approximately $1 billion in cash and restricted stock, expected to close in Q2 of Atlassian’s fiscal 2026 subject to approvals. The acquisition integrates the target’s systems software to enhance Atlassian’s collaboration and productivity tools.

34. AMI Global, LLC (09/23/2025)
• S. J. Electro Systems, Inc. acquired AMI Global, LLC in Las Vegas, NV from Cimbria Capital. This deal establishes SJE’s new Cloud Connected Solutions division under Henrik Laursen, expanding its electronic equipment and instruments offerings.

35. Milton Project (09/26/2025)
• EV Resources Limited agreed to acquire the Milton Project (18 claims) in NV from MineMaker LLC for A$0.5 million, subject to MineMaker securing legal title. The transaction positions EV to develop diversified metals and mining assets in Nye County, Nevada.

36. Golden Arrow Project (09/29/2025)
• Fairchild Gold Corp. entered into a definitive agreement to acquire the Golden Arrow Project in NV from Emergent Metals Corp. for $4.99 million over five years. This acquisition enhances Fairchild’s diversified metals and mining exploration in Nevada.

37. Mt. Hamilton Project (09/30/2025)
• Mako Mining Corp. entered into a binding term sheet to acquire the Mt. Hamilton Gold-Silver Project in NV from Sailfish Royalty Corp. The deal expands Mako’s diversified metals and mining portfolio in White Pine County, Nevada.

Buyers in Nevada

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.

Nevada M&A Overview — Business Sale Activity for M&A Buyers

In Q3 2025, Nevada-based buyers completed 22 deals totaling $3.78 billion in disclosed value, with Boxabl Inc.'s $3.5 billion merger with FG Merger II Corp. in North Las Vegas leading the charge, aiming to enhance manufacturing capabilities. Other notable transactions included Eagle Energy Metals Corp.'s $250 million reverse merger with Spring Valley Acquisition Corp. II in Reno for mining and nuclear energy advancement, and Healthy Extracts Inc.'s $21.6 million acquisition of Gummy USA, LLC in Henderson for pharmaceuticals growth. Private equity backed 27% of the deals, with Silver State Refrigeration & HVAC, LLC in Las Vegas acquiring multiple firms to expand industrials, while Hydreight Technologies Inc. in Las Vegas targeted drug retail and AI-driven health care with stakes in Perfect Scripts LLC and Dynamic IV Therapy Support AI Agent.

Nevada M&A Deal Summaries — Business Sale Activity for M&A Buyers

1. Tri-Point Refrigeration, Inc. (07/01/2025)
• Silver State Refrigeration & HVAC, LLC (Las Vegas, NV) acquired Tri-Point Refrigeration, Inc. in Hutto, TX. This transaction expands Silver State’s diversified support services in refrigeration and HVAC, integrating Tri-Point’s operations into its growing industrials portfolio.

2. Perfect Scripts LLC (07/11/2025)
• Hydreight Technologies Inc. (Las Vegas, NV) signed a letter of intent to acquire a 5% stake in Perfect Scripts LLC for $3.5 million, with an option for up to 40% interest, finalized via a definitive agreement on September 1, 2025, subject to due diligence and TSX Venture Exchange approval. The investment positions Hydreight to enhance its drug retail capabilities through Perfect Scripts’ pharmacy services, with closing expected within five business days of the definitive agreement.

3. CasinoSoft, LLC (07/18/2025)
• Pavilion Payments Gaming Services Inc. (Las Vegas, NV) acquired CasinoSoft, LLC in Las Vegas, NV. This deal strengthens Pavilion’s casinos and gaming offerings by incorporating CasinoSoft’s specialized software solutions for improved operational efficiency.

4. Gummy USA, LLC (07/19/2025)
• Healthy Extracts Inc. (Henderson, NV) acquired Gummy USA, LLC in Sarasota, FL for $21.6 million, issuing 13,075,920 shares representing 77.5% ownership, with Donald Swanson appointed as Chairman and President. The acquisition transforms Gummy USA into a wholly-owned subsidiary, bolstering Healthy Extracts’ pharmaceuticals portfolio in health care with Swanson’s anti-dilution rights and leadership transition.

5. KLAP-FM (07/21/2025)
• KLAP FM Radio Corp. (Gerlach, NV) agreed to acquire KLAP-FM in NV from Open Sky Radio Corporation for $3,838, subject to FCC approval. This low-value transaction enhances KLAP FM Radio’s broadcasting presence in Gerlach, expanding its technology, media, and telecommunications footprint.

6. Spring Valley Acquisition Corp. II (07/30/2025)
• Eagle Energy Metals Corp. (Reno, NV) entered into a definitive agreement to acquire Spring Valley Acquisition Corp. II in Dallas, TX via a reverse merger valued at approximately $250 million, implying a pro-forma equity of $312 million with a $30 million PIPE investment. The combination, expected to close in late 2025 subject to approvals, creates Eagle Nuclear Energy Corp. listed on Nasdaq, enabling Eagle to advance mining, SMR technology, and general corporate purposes with existing holders owning 75% post-merger.

7. FG Merger II Corp. (08/04/2025)
• Boxabl Inc. (North Las Vegas, NV) signed a definitive merger agreement to acquire FG Merger II Corp. in Itasca, IL via a reverse merger valued at $3.5 billion, issuing 350 million shares and renaming to BOXABL upon closing by December 31, 2025. This SPAC merger supports Boxabl’s optimization of manufacturing, steel-frame production, new sales channels, and working capital, with founders Paolo and Galiano Tiramani continuing as Co-CEOs.

8. Tennessee Mountain Project (08/07/2025)
• Trigg Minerals (USA) LLC (NV) acquired the Tennessee Mountain Project in NV from an investor group for $0.22 million, subject to customary conditions. The deal expands Trigg’s diversified metals and mining assets, enhancing its exploration opportunities in the region.

9. Performance Systems Integration, LLC (08/12/2025)
• Summit Fire & Security LLC (Reno, NV) acquired Performance Systems Integration, LLC in Portland, OR from The Riverside Company, completing the transaction on August 21, 2025 following regulatory approvals. This acquisition broadens Summit’s construction and engineering services in fire and security, leveraging Performance’s expertise for integrated solutions.

10. The Whitman Co. Inc. (08/12/2025)
• Silver State Refrigeration, HVAC & Plumbing (Las Vegas, NV) acquired The Whitman Co. Inc. in Yorba Linda, CA. The transaction reinforces Silver State’s industrials presence in construction and engineering through The Whitman’s HVAC and plumbing capabilities.

11. Go Fast Sports & Beverage Company LLC (08/13/2025)
• Golden Triangle Ventures, Inc. (Las Vegas, NV) agreed to acquire Go Fast Sports & Beverage Company LLC in Denver, CO from Labor Smart, Inc., with incoming CEO Javier Leal contributing 720 million shares. This deal enhances Golden Triangle’s soft-drinks and non-alcoholic beverages portfolio, positioning Go Fast for growth without additional stock issuance.

12. VigilAigent (08/18/2025)
• Tego Cyber Inc. (Las Vegas, NV) entered into a definitive agreement to acquire VigilAigent, completing the transaction on September 8, 2025. The acquisition bolsters Tego’s IT consulting and other services with VigilAigent’s cybersecurity technologies.

13. Ferguson Mini 8KS Accessories Business (08/22/2025)
• Medidenta (Las Vegas, NV) acquired the Ferguson Mini 8KS Accessories Business from Dr. Rick Ferguson. This targeted acquisition expands Medidenta’s unclassified dental accessories portfolio, integrating Ferguson’s specialized products.

14. Cash Atlas of Nova Credit Inc. (08/28/2025)
• Socure Inc. (Incline Village, NV) acquired Cash Atlas from Nova Credit Inc. The transaction integrates Cash Atlas into Socure’s RiskOS platform, enhancing unclassified identity-verification and risk-management solutions.

15. Schraff LLC (09/03/2025)
• Strategic Digital Systems (Las Vegas, NV) acquired Schraff LLC in Trabuco Canyon, CA, appointing Tyler Schraff as COO. This merger strengthens Strategic’s advertising capabilities in technology, media, and telecommunications through Schraff’s digital expertise.

16. Career Karma, Inc. (09/04/2025)
• Climb Credit, Inc. (Carson City, NV) acquired Career Karma, Inc. in San Francisco, CA. The deal enhances Climb’s application-software offerings in education technology, supporting career navigation and upskilling programs.

17. Dynamic IV Therapy Support AI Agent of Auxano One LLC (09/08/2025)
• Hydreight Technologies Inc. (Las Vegas, NV) signed a letter of intent to acquire the Dynamic IV Therapy Support AI Agent of Auxano One LLC for $0.73 million, including $0.07 million cash and $0.66 million in earn-out equity, subject to due diligence and regulatory approval. This acquisition advances Hydreight’s AI-driven health-care services, focusing on IV-therapy support tools.

18. Alaska Safety Incorporated (09/09/2025)
• Lehr Upfitters LLC (Reno, NV) acquired Alaska Safety Incorporated in Anchorage, AK. The transaction expands Lehr’s automotive-retail presence with Alaska Safety’s vehicle upfitting and safety-equipment services.

19. L&W Emergency Outfitters (09/09/2025)
• Lehr Upfitters LLC (Reno, NV) acquired L&W Emergency Outfitters in Lawrenceburg, KY. This deal bolsters Lehr’s diversified support services in emergency-vehicle outfitting and equipment distribution.

20. Atlantic Coast Restaurant & Mechanical Services, LLC (09/18/2025)
• Silver State Refrigeration, HVAC & Plumbing (Las Vegas, NV) acquired Atlantic Coast Restaurant & Mechanical Services, LLC in Miami, FL. The acquisition enhances Silver State’s consumer-services operations in restaurant mechanical maintenance and HVAC.

21. GK Properties (09/25/2025)
• Signature Real Estate Group (Las Vegas, NV) acquired GK Properties. This transaction strengthens Signature’s unclassified real-estate portfolio with GK’s property-management assets.

22. Distribution Facility Located in Chicago, Illinois (09/29/2025)
• HF Foods Group Inc. (Las Vegas, NV) entered into a binding purchase agreement to acquire a distribution facility in Chicago, IL. The deal expands HF Foods’ logistics network, improving supply-chain efficiency for its food-distribution operations.

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 | Nevada M&A Insights

June 2025 | Nevada M&A Insights