June 2025 | New Mexico M&A Insights

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 New Mexico

New Mexico - Transaction Value and Count by Month

New Mexico — Business Sale Overview

In June 2025, New Mexico-based companies were the target of 5 M&A transactions (no disclosed value), with activity spanning industrials, financials, healthcare, energy, and unclassified sectors, reflecting the state’s diverse economic landscape. Key deals included Radiance Technologies’ acquisition of XL Scientific, LLC in the aerospace and defense sector and PHC-Las Cruces’ agreement to acquire Sun View Imaging, L.L.C., with no disclosed transaction values, indicating a focus on strategic rather than high-value acquisitions. With no private equity-backed deals, these transactions highlight New Mexico’s appeal to corporate buyers seeking to enhance specialized capabilities in technology, healthcare, and energy exploration.

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. XL Scientific, LLC (06/02/2025)
   Radiance Technologies, Inc. acquired XL Scientific, LLC in Albuquerque, NM, on June 2, 2025, enhancing its aerospace and defense capabilities in the industrials sector, operating as Verus Research without private equity backing.

2. Market Finders, Inc. (06/05/2025)
   HUB International Limited unit Borisoff Insurance Services, Inc. acquired Market Finders, Inc. in Albuquerque, NM, on June 5, 2025, strengthening its insurance brokerage services in the financials sector, with Philo Smith & Co. as financial advisor.

3. Heritage Home Healthcare Services, Inc. (06/18/2025)
   New Day Healthcare LLC agreed to acquire Heritage Home Healthcare Services, Inc. in Albuquerque, NM, on June 18, 2025, expanding its healthcare services in the healthcare sector with a team of over 900 caregivers, pending regulatory approval for July 2025 closure.

4. Rio Puerco Project (06/23/2025)
   North Shore Uranium Ltd. (TSX-V:NSU) signed a letter of intent to acquire an 87.5% interest in the Rio Puerco Project in New Mexico from Resurrection Mining LLC on June 23, 2025, enhancing its coal and consumable fuels portfolio in the energy sector, with potential bonuses up to 20 million lbs. of uranium.

5. Sun View Imaging, L.L.C. (06/25/2025)
   PHC-Las Cruces, Inc. entered an agreement to acquire Sun View Imaging, L.L.C. in Las Cruces, NM, from The Hospitals of Providence on June 25, 2025, expanding its diagnostic imaging services in the unclassified sector, with closure expected in the coming months.

Buyers in New Mexico

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.

New Mexico M&A Overview — Business Sale Activity for M&A Buyers

In June 2025, New Mexico-based buyers completed two disclosed M&A transactions, focusing on industrials and unclassified sectors, reflecting targeted strategic growth in the state’s economic landscape. The key deal was STINorland USA, Inc.’s $250 million acquisition of AP Alternatives LLC, a significant transaction in construction and engineering, contributing to a total disclosed transaction volume of approximately $250 million. With no private equity involvement, these deals highlight New Mexico’s modest but impactful M&A activity, driven by corporate buyers aiming to enhance operational capabilities and regional presence.

New Mexico M&A Deal Summaries — Business Sale Activity for M&A Buyers

1. AP Alternatives LLC (06/17/2025)
   STINorland USA, Inc. in Albuquerque, NM, agreed to acquire AP Alternatives LLC in Ridgeville Corners, OH, for $250 million on June 17, 2025, enhancing its construction and engineering capabilities in the industrials sector, with a base purchase price of $210 million and up to $40 million in earnouts, pending Q3 2025 closure.

2. Sun View Imaging, L.L.C. (06/25/2025)
   PHC-Las Cruces, Inc. in Las Cruces, NM, entered an agreement to acquire Sun View Imaging, L.L.C. in Las Cruces, NM, from The Hospitals of Providence on June 25, 2025, expanding its diagnostic imaging services in the unclassified sector, with closure expected in the coming months.

M&A Segmentation — Glossary:

1. M&A – Whole: The acquisition of 100% ownership of a target company, giving the buyer full control.

2. M&A – Asset: The purchase of specific assets, such as mineral rights or property, without acquiring the entire company.

3. M&A – Minority: The acquisition of a non-controlling stake, typically under 50%.

4. 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:

1. Transaction Value: Represents the total consideration paid for a transaction, including net debt only if assumed, capturing the full financial scope of the deal.

2. Deal Value: Focuses solely on the consideration paid for the equity acquired, excluding net debt, to reflect the cost of ownership.

3. 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.

4. Implied Equity Value: Isolates the equity portion, representing 100% of the target’s equity value, enabling a clear equity-to-equity comparison across transactions.

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