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.

2025 - National Transaction Value ($bn) and Transaction Count

Targets in New Mexico

New Mexico - Transaction Value and Count by Month

New Mexico — Business Sale Overview

New Mexico’s 2025 M&A market reflected a dynamic and increasingly diversified economy, with activity spanning energy, utilities, financial services, healthcare, technology, real estate, and hospitality. The year was anchored by marquee transactions, most notably Blackstone Inc.’s $11.9 billion acquisition of TXNM Energy, Inc., underscoring institutional conviction in regulated utilities and long-duration infrastructure assets across the Southwest. Energy and natural resources remained central to the state’s deal flow, highlighted by Devon Energy Corporation’s $260 million acquisition of Cotton Draw Midstream and Targa Northern Delaware LLC’s $171 million purchase of Dovetail Midstream, both reinforcing the strategic importance of Permian Basin infrastructure. Mining and mineral assets also drew capital, including Mosaic Potash Carlsbad and uranium and lode claim consolidations, reflecting sustained investor interest in critical materials and domestic supply chains.

Beyond energy, New Mexico saw meaningful consolidation in financial institutions, insurance, and wealth management. HUB International Limited continued its regional expansion with the acquisition of Woods Insurance Services, while GECU Federal Credit Union expanded into Roswell through its acquisition of Bank of the Southwest’s assets and liabilities. Additional activity from EP Wealth Advisors, RSC Insurance Brokerage, and other national platforms signals that New Mexico remains attractive to scaled consolidators seeking recurring revenue and durable client relationships in growing Southwestern markets. Healthcare services and diagnostics also saw expansion through home health, imaging, and specialty providers, reinforcing defensive sector appeal.

Technology, aerospace, and advanced manufacturing further contributed to 2025’s transaction profile. Strategic buyers acquired companies such as Lectrosonics, SAVSU Technologies, and BennuBio, strengthening capabilities in professional audio, cold-chain logistics, and cellular technology. Meanwhile, industrial services and specialty equipment platforms expanded across Albuquerque and surrounding markets, and consumer-facing assets—from Marble Brewery to Sunland Park Racetrack & Casino—drew both private and strategic capital. Taken together, 2025 deal activity demonstrates that New Mexico is no longer a niche M&A market tied solely to oil and gas; it is increasingly viewed as a multi-sector growth corridor where infrastructure, innovation, and population trends intersect. For business owners across the state, the breadth of buyer interest—ranging from global private equity firms to regional strategics—signals a competitive and well-capitalized environment for both minority and majority liquidity events.

New Mexico — Strategic vs. Sponsor-led Activity

New Mexico — X / Y Plot By Sector

New Mexico — M&A Segmentation

New Mexico — Sector Breakdown

Second Level Primary Industry Breakdown

New Mexico 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. Marble Brewery, Inc. (1/3/2025)

Private Investor acquired Marble Brewery, Inc. of Albuquerque, NM, strengthening its position in the craft beer market.

2. Woods Insurance Services, a Hub International company (1/6/2025)

HUB International Limited of Chicago, IL, acquired Woods Insurance Services, a Hub International company of Farmington, NM, consolidating its existing operations in the New Mexico market.

3. Lancs Industries Holdings, Llc (1/13/2025)

Pelican Energy Partners LP of Houston, TX, acquired Lancs Industries Holdings, Llc of Albuquerque, NM, expanding its industrial services footprint in the Southwest energy market.

4. Pavilions at San Mateo (2/4/2025)

Rhino Investments Group acquired Pavilions at San Mateo, strengthening its retail real estate portfolio in the San Francisco Bay Area market.

5. Chavez-Grieves Consulting Engineers, Inc. (2/28/2025)

Salas O'Brien Engineers, Inc. of San Jose, CA, acquired Chavez-Grieves Consulting Engineers, Inc. of Albuquerque, NM, expanding its engineering consulting footprint into the Southwest market.

6. Five Properties (3/18/2025)

Verdera Energy Corp. acquired Five Properties for $0.35M, expanding its real estate portfolio and strengthening its asset base for future energy development projects.

7. Pecos Propane, Inc. (4/16/2025)

Lettermen's Energy Holdings, LLC of Overland Park, KS, acquired Pecos Propane, Inc. of Pecos, NM, strengthening its propane distribution footprint in the southwestern United States.

8. Luna Laundry Co., Inc. (4/18/2025)

All Washed Up Services Inc of Colorado Springs, CO, acquired Luna Laundry Co., Inc. of Santa Fe, NM, expanding its commercial laundry operations into the New Mexico market.

9. Farina Alto Pizzeria & Wine Bar (4/30/2025)

Cantina Hospitality, LLC of Albuquerque, NM, acquired Farina Alto Pizzeria & Wine Bar of Albuquerque, NM, expanding its local restaurant portfolio with an upscale Italian dining and wine concept.

10. Fort Bayard Federal Credit Union (5/1/2025)

First Financial Credit Union of Albuquerque, NM, acquired Fort Bayard Federal Credit Union of Arenas Valley, NM, consolidating its presence across New Mexico's credit union market.

11. Bynnd, LLC (5/6/2025)

Rentvine LLC of Estero, FL, acquired Bynnd, LLC of Farmington, NM, strengthening its property management technology platform and expanding its customer base in the Southwest market.

12. Lectrosonics, Inc. (5/8/2025)

The Freedman Group Pty Ltd acquired Lectrosonics, Inc. of Rio Rancho, NM, strengthening its position in professional wireless audio and broadcast equipment markets.

13. TXNM Energy, Inc. (5/19/2025)

Blackstone Inc. of New York, NY, acquired TXNM Energy, Inc. of Albuquerque, NM for $11,941.00M, consolidating its position in the regulated utility sector across the southwestern United States.

14. Petaca Claims (5/28/2025)

Almadex Minerals Ltd. acquired Petaca Claims, expanding its mineral exploration portfolio and strengthening its position in strategic mining territories.

15. XL Scientific, LLC (6/2/2025)

Radiance Technologies, Inc. of Huntsville, AL, acquired XL Scientific, LLC of Albuquerque, NM, strengthening its scientific research and development capabilities.

16. Market Finders, Inc. (6/5/2025)

Borisoff Insurance Services, Inc. of Burbank, CA, acquired Market Finders, Inc. of Albuquerque, NM, expanding its geographic footprint and client acquisition capabilities in the New Mexico market.

17. SCI, Inc. (6/16/2025)

Thompson Satellite Llc of Albuquerque, NM, acquired SCI, Inc. of Albuquerque, NM, consolidating satellite communications capabilities within the local market.

18. Heritage Home Healthcare Services, Inc. (6/18/2025)

New Day Healthcare LLC of McKinney, TX, acquired Heritage Home Healthcare Services, Inc. of Albuquerque, NM, expanding its home healthcare footprint into the New Mexico market.

19. Rio Puerco Project (6/24/2025)

North Shore Uranium Ltd. acquired Rio Puerco Project, expanding its uranium asset portfolio and strengthening its position in the nuclear fuel supply chain.

20. Sun View Imaging, L.L.C. (6/25/2025)

PHC-Las Cruces, Inc. of Las Cruces, NM, acquired Sun View Imaging, L.L.C. of Las Cruces, NM, strengthening its diagnostic imaging capabilities within the local healthcare market.

21. Assets Of Zia Insurance Services (7/30/2025)

RSC Insurance Brokerage, Inc. of Boston, MA, acquired Assets Of Zia Insurance Services, consolidating its specialized insurance offerings and client portfolio.

22. 185 New Federal Lode Claims (7/31/2025)

Gamma Resources Ltd. acquired 185 New Federal Lode Claims, consolidating its mineral rights portfolio and strengthening its position in federal mining territories.

23. Cotton Draw Midstream, L.L.C. (8/1/2025)

Devon Energy Corporation of Oklahoma City, OK, acquired Cotton Draw Midstream, L.L.C. of Roswell, NM for $260M, strengthening its midstream infrastructure capabilities in the Permian Basin.

24. Engineered Equipment Sales & Testing, Inc. (8/11/2025)

MPSW HOLDINGS, INC. of Phoenix, AZ, acquired Engineered Equipment Sales & Testing, Inc. of Albuquerque, NM, strengthening its specialized equipment capabilities and expanding its presence in the Southwest testing services market.

25. Southwest Seal & Supply, Inc. (8/12/2025)

Aberdeen Dynamics, LLC of Tulsa, OK, acquired Southwest Seal & Supply, Inc. of Albuquerque, NM, strengthening its industrial sealing solutions capabilities across the southwestern United States.

26. Iron Soul Gym, LLC (8/15/2025)

Private Investor acquired Iron Soul Gym, LLC of Albuquerque, NM, expanding into the regional fitness and wellness market.

27. La Castaneda Harvey House Hotel (8/23/2025)

Private Investor acquired La Castaneda Harvey House Hotel of Las Vegas, NM, adding a historic hospitality asset to strengthen its boutique hotel portfolio in the Southwest.

28. Better Money Decisions, LLC (8/26/2025)

EP Wealth Advisors, LLC of Torrance, CA, acquired Better Money Decisions, LLC of Santa Fe, NM, expanding its wealth management presence in the Southwest market.

29. Distribution Management Corporation, Inc. (9/3/2025)

ADL Final Mile of Thonotosassa, FL, acquired Distribution Management Corporation, Inc. of Albuquerque, NM, expanding its logistics and distribution capabilities into the Southwest market.

30. J3 Systems LLC (9/5/2025)

Tecta America Corporation of Rosemont, IL, acquired J3 Systems LLC of Bosque Farms, NM, reinforcing its commercial roofing capabilities and expanding its presence in the Southwest market.

31. LadyBoss (9/5/2025)

Private Investor acquired LadyBoss, strengthening its portfolio of women-focused wellness and lifestyle brands.

32. One AM Station, One FM Station and One FM Translator (9/6/2025)

Rabbit Ear Media & Print, LLC acquired One AM Station, One FM Station and One FM Translator for $0.26M, strengthening its radio broadcasting portfolio across multiple frequency bands.

33. Bright Green Corporation (9/16/2025)

PharmAGRI Capital Partners acquired Bright Green Corporation of Grants, NM, strengthening its agricultural technology and sustainable farming solutions portfolio.

34. BennuBio, Inc. (10/1/2025)

Precision Cell Systems, Inc. of Livermore, CA, acquired BennuBio, Inc. of Albuquerque, NM, advancing its cellular technology capabilities and biotechnology product offerings.

35. SAVSU Technologies, Inc. (10/6/2025)

Peli BioThermal LLC of Maple Grove, MN, acquired SAVSU Technologies, Inc. of Albuquerque, NM for $25.5M, strengthening its cold chain logistics capabilities for pharmaceutical and biotech temperature-sensitive shipments.

36. Strategic Insurance Group (10/8/2025)

Equal Platform Solutions, Inc. of Austin, TX, acquired Strategic Insurance Group of Albuquerque, NM, consolidating its insurance technology platform capabilities across the Southwest market.

37. Sunland Park Racetrack & Casino (10/15/2025)

Strategic Gaming Management, LLC of Carson City, NV, acquired Sunland Park Racetrack & Casino of Sunland Park, NM for $301M, expanding its gaming footprint into the New Mexico border market.

38. Kachina Petroleum Equipment Co. (11/3/2025)

D&H United Fueling Solutions, Inc. of Humble, TX, acquired Kachina Petroleum Equipment Co. of Albuquerque, NM, strengthening its petroleum equipment and services capabilities across the Southwest region.

39. Substantially all the assets and liabilities of Bank of the Southwest (11/17/2025)

GECU Federal Credit Union of El Paso, TX, acquired substantially all the assets and liabilities of Bank of the Southwest of Roswell, NM, expanding its presence into the New Mexico banking market.

40. Dovetail Midstream, LLC (12/3/2025)

Targa Northern Delaware LLC of Houston, TX, acquired Dovetail Midstream, LLC of Eddy County, NM for $171M, consolidating its midstream infrastructure presence in the prolific Permian Basin.

41. Mega Corp. (12/18/2025)

Federal Signal Corporation of Downers Grove, IL, acquired Mega Corp. of Albuquerque, NM for $45.5M, strengthening its presence in the southwestern municipal and industrial equipment markets.

42. Mosaic Potash Carlsbad Inc. (12/22/2025)

International Minerals Carlsbad, LLC acquired Mosaic Potash Carlsbad Inc. of Carlsbad, NM for $30M, consolidating potash mining operations in the Permian Basin region.

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.

2025 Year in Review | New Mexico M&A Insights

Q4 2025 | New Mexico M&A Insights