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

Targets in Nevada

Nevada - Transaction Value and Count by Month

Nevada — Business Sale Overview

In May 2025, Nevada-based companies were the target of 26 M&A transactions ($175mm in disclosed value), with significant activity in technology, materials (gold and silver mining), and financial services, reflecting the state’s role as a hub for mining and emerging tech industries. High-value deals included Ormat Technologies, Inc.’s $88 million acquisition of the Blue Mountain Geothermal Power Plant and CPI Card Group’s $45.5 million purchase of Arroweye Solutions, Inc., contributing to a total disclosed transaction volume of approximately $165 million. With 5 private equity-backed deals, these transactions highlight Nevada’s appeal to buyers seeking strategic assets in renewable energy, digital technology, and mining, driven by both corporate and international investors.

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.

Sugar Auto Parts, Inc. (05/01/2025)
APPlife Digital Solutions, Inc. (OTCPK:ALDS) acquired Sugar Auto Parts, Inc. in Las Vegas, NV, from Mammoth Crest Capital, LLC on May 1, 2025, enhancing its unclassified technology solutions in the technology sector with private equity backing, completed on June 13, 2025.
Three Nevada Properties (05/01/2025)
Azucar Minerals Ltd. (TSX-V:AMZ) signed an option-joint venture agreement to acquire a 60% interest in three Nevada properties (Pilot, Confusion Hills, and Red Ring) in Nevada for $1.75 million on May 1, 2025, expanding its copper mining portfolio in the materials sector, pending TSX Venture Exchange approval.
Arroweye Solutions, Inc. (05/06/2025)
CPI Card Group Inc. (NASDAQGM:PMTS) unit CPI CG Inc. acquired Arroweye Solutions, Inc. in Henderson, NV, for $45.5 million on May 6, 2025, enhancing its payment solutions in the technology sector, funded by cash and an ABL revolver.
Azibo Inc. (05/06/2025)
TurboTenant, Inc. acquired Azibo Inc. in Reno, NV, on May 6, 2025, strengthening its property management software offerings in the technology sector with private equity backing.
DotCom Ventures Inc. (05/07/2025)
Lottery.com Inc. (NasdaqGM:LTRY) signed a letter of intent to acquire a 51% stake in DotCom Ventures Inc. in Nevada from Concerts.com for $10 million on May 7, 2025, enhancing its digital entertainment platforms in the technology sector with cash, debt, and equity.
66 New Claims (05/08/2025)
James Bay Minerals Limited (ASX:JBY) acquired 66 new claims in Nevada from an undisclosed seller on May 8, 2025, expanding its gold mining operations in the materials sector without private equity involvement.
Blue Mountain Geothermal Power Plant (05/08/2025)
Ormat Technologies, Inc. (NYSE:ORA) acquired Blue Mountain Geothermal Power Plant in Nevada from Cyrq Energy, Inc. for $88 million on May 8, 2025, enhancing its renewable electricity portfolio in the energy sector, completed on June 18, 2025.
Gryphon Digital Mining, Inc. (05/09/2025)
American Bitcoin Corp. agreed to acquire Gryphon Digital Mining, Inc. (NasdaqCM:GRYP) in Las Vegas, NV, in a reverse merger on May 9, 2025, enhancing its bitcoin mining operations in the technology sector, with closure expected in Q3 2025.
NZero, Inc. (05/12/2025)
ASUENE America Holdings Inc. acquired NZero, Inc. in Carson City, NV, on May 12, 2025, strengthening its application software solutions in the technology sector with private equity backing.
0.5% NSR on Ferber Property (05/13/2025)
EMX Royalty Corporation (TSXV:EMX) unit Bronco Creek Exploration Inc. acquired a 0.5% NSR on the Ferber Property in Nevada from Galileo Resources Plc (AIM:GLR) for $1 million on May 13, 2025, expanding its gold royalty portfolio in the materials sector.
Euphoria Institute of Beauty Arts and Sciences (05/13/2025)
Dvmd LLC acquired Euphoria Institute of Beauty Arts and Sciences in Las Vegas, NV, on May 13, 2025, expanding its educational services in the consumer sector as a branch campus without private equity backing.
key Mine Claims (05/13/2025)
Sierra Nevada Gold Inc. (ASX:SNX) acquired key Mine Claims in Nevada for $0.25 million on May 13, 2025, strengthening its gold mining operations in the materials sector without private equity involvement.
Exploration Lease over Swales (05/14/2025)
Metals One PLC (AIM:MET1) acquired an exploration lease over the Swales Gold Property in Nevada from Nevada Canyon Gold Corp. (OTCPK:NGLD) for $0.1 million on May 14, 2025, enhancing its gold exploration in the materials sector, completed on June 10, 2025.
14 Claims (05/15/2025)
Globex Mining Enterprises Inc. (TSX:GMX) acquired 14 unpatented lode claims in Nevada from an undisclosed seller on May 15, 2025, expanding its gold mining portfolio in the materials sector through a staking transaction.
Nine Four Entertainment Inc. (05/15/2025)
Skybound Holdings LLC acquired Nine Four Entertainment Inc. in Las Vegas, NV, on May 15, 2025, enhancing its movies and entertainment offerings in the technology sector without private equity backing.
Talage, Inc. (05/15/2025)
Mission Underwriting Managers, LLC acquired Talage, Inc. in Reno, NV, on May 15, 2025, strengthening its insurance brokerage services in the financials sector with private equity backing, with CEO Craig Fuher joining the Mission portfolio.
Silver Stream (05/19/2025)
OR Royalties Inc. (TSX:OR) unit Osisko Bermuda Limited acquired a silver stream on the Railroad-Pinion Project in Nevada from Orion Resource Partners (USA), L.P. for $13 million on May 19, 2025, enhancing its silver mining portfolio in the materials sector.
Silver Stream of South Railroad Project (05/19/2025)
OR Royalties Inc. (TSX:OR) unit Osisko Bermuda Limited acquired a silver stream on the South Railroad Project in Nevada from Orla Mining Ltd. (TSX:OLA) for $13 million on May 19, 2025, expanding its silver mining interests in the materials sector.
Wastexperts, Inc. (05/19/2025)
Ally Waste Services, LLC acquired Wastexperts, Inc. in Reno, NV, on May 19, 2025, enhancing its environmental and facilities services in the industrials sector without private equity backing.
99 Unpatented Mining Claims (05/20/2025)
Metals One PLC (AIM:MET1) acquired 99 unpatented mining claims in Nevada from an undisclosed seller on May 20, 2025, strengthening its gold exploration portfolio in the materials sector, with Beaumont Cornish as financial advisor.
Metavox Holdings LLC (05/20/2025)
NFiniTi inc. (OTCPK:NFTN) acquired Metavox Holdings LLC in Nevada on May 20, 2025, enhancing its web3 and blockchain technology solutions in the technology sector as a tax-free reorganization.
High Sierra Distillery, LLC (05/23/2025)
Foley Family Wines, Inc. acquired Minden Mill Distilling in Minden, NV, from Christopher Bently on May 23, 2025, expanding its distillery operations in the consumer sector, with ML Advisory as financial advisor.
Proquility Private Wealth Partners, LLC (05/27/2025)
Simon Quick Advisors, LLC acquired Proquility Private Wealth Partners, LLC in Las Vegas, NV, on May 27, 2025, enhancing its asset management services in the financials sector, with ECHELON Partners as financial advisor.
IT Avalon LLC (05/29/2025)
SmarTek21, LLC acquired IT Avalon LLC in Reno, NV, on May 29, 2025, strengthening its IT consulting services in the technology sector with private equity backing, adding over 650 global associates.
Trench Oxide Gold Project (05/29/2025)
Ridgeline Minerals Corp. (TSXV:RDG) entered an earn-in option agreement to acquire the Trench Oxide Gold Project in Nevada from EMX Royalty Corporation (TSXV:EMX) for $2.43 million on May 29, 2025, enhancing its gold exploration in the materials sector over five years.
Four Highly Prospective Projects (05/30/2025)
Renegade Exploration Limited (ASX:RNX) acquired four highly prospective projects in Nevada from G50 Corp Limited (ASX:G50) for $0.15 million on May 30, 2025, expanding its gold exploration portfolio in the materials sector, with closure expected by May 31, 2025.

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 May 2025, Nevada-based buyers completed 10 M&A transactions, with notable activity in technology, financial services, energy, and industrials, reflecting the state’s growing economic diversity. Key deals included Ormat Technologies, Inc.’s $88 million acquisition of the Blue Mountain Geothermal Power Plant and Cannae Holdings, Inc.’s $93.5 million purchase of an additional 30% stake in JANA Partners Capital, LLC and JANA Partners Management, LP, contributing to a total disclosed transaction volume of approximately $185 million. With 3 private equity-backed deals, these transactions highlight Nevada’s strategic focus on renewable energy, financial investments, and technology, driven by both corporate and private equity buyers seeking to expand their portfolios.

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

Health Note Calmi (05/01/2025)
AppSwarm, Inc. (OTCPK:SWRM) in Las Vegas, NV, acquired Health Note in Tulsa, OK, on May 1, 2025, enhancing its healthcare technology solutions in the healthcare sector without private equity backing.
SSi, Inc. (05/01/2025)
NATA Compliance Services, LLC in Reno, NV, acquired SSi, Inc. in Tucson, AZ, on May 1, 2025, strengthening its aerospace compliance services in the industrials sector without private equity involvement.
O'Keefe & Associates Consulting LLC (05/07/2025)
Province, LLC in Henderson, NV, acquired O'Keefe & Associates Consulting LLC in Bloomfield Hills, MI, on May 7, 2025, expanding its research and consulting services in the industrials sector without private equity backing.
Blue Mountain Geothermal Power Plant (05/08/2025)
Ormat Technologies, Inc. (NYSE:ORA) in Reno, NV, acquired Blue Mountain Geothermal Power Plant in Nevada from Cyrq Energy, Inc. for $88 million on May 8, 2025, enhancing its renewable electricity portfolio in the energy sector, completed on June 18, 2025.
Haw Capital 2 Corp. (05/12/2025)
Naked Revival Inc. in Carson City, NV, signed a letter of intent to acquire Haw Capital 2 Corp. (TSXV:HAW.P) in Calgary for CAD 4.86 million ($3.49 million USD) on May 12, 2025, in a reverse merger to expand its financial holdings in the financials sector, pending regulatory approvals.
JANA Partners Capital, LLC/JANA Partners Management, LP (05/12/2025)
Cannae Holdings, Inc. (NYSE:CNNE) in Las Vegas, NV, agreed to acquire an additional 30% stake in JANA Partners Capital, LLC and JANA Partners Management, LP in New York, NY, for $93.5 million on May 12, 2025, enhancing its investment management services in the financials sector with private equity backing, with closure expected in Q3 2025.
key Mine Claims (05/13/2025)
Sierra Nevada Gold Inc. (ASX:SNX) in Reno, NV, acquired key Mine Claims in Nevada for $0.25 million on May 13, 2025, strengthening its gold mining operations in the materials sector without private equity involvement.
Three Fabulous Freddy car washes in the Las Vegas Valley (05/13/2025)
Terrible Herbst Inc. in Las Vegas, NV, acquired three Fabulous Freddy car washes in the Las Vegas Valley on May 13, 2025, expanding its car wash services in the consumer sector without private equity backing.
Full Circle Insights, Inc. (05/20/2025)
Conquer, Inc. in Reno, NV, acquired Full Circle Insights, Inc. in San Antonio, TX, on May 20, 2025, enhancing its application software offerings in the technology sector with private equity backing and Arcadia Capital Partners as financial advisor.
Black Breach, LLC (05/22/2025)
Intelligent Technical Solutions, LLC and Justin Shanken in Las Vegas, NV, acquired Black Breach, LLC in Woodstock, GA, on May 22, 2025, strengthening its IT consulting services in the technology sector with private equity backing, financed by Deerpath Capital.

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.

May 2025 | Nevada M&A Insights

June 2025 | Nevada M&A Insights

April 2025 | Nevada M&A Insights