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Targets in Utah

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

In Q3 2026, Utah-based target companies recorded 25 M&A transactions in the supplied dataset, with aggregate disclosed transaction value of approximately $2.30 billion across five transactions with numeric values. Strategic acquirers represented much of the activity, supplemented by institutional investors and sponsors including The Carlyle Group, Truelink Capital, and Francisco Partners. Five transactions involved Utah-headquartered buyers, while the majority of acquirers were based outside the state. Industrials led activity with nine transactions, followed by technology, media and telecommunications and financial services with five transactions each, underscoring Utah's breadth beyond its well-established technology ecosystem.

The largest disclosed transaction was Teledyne Technologies' agreement to acquire Salt Lake City-based Varex Imaging Corporation for approximately $1.151 billion, taking the medical-imaging company private in an all-cash transaction. In technology, Francisco Partners agreed to acquire Lehi-based Weave Communications for approximately $623.2 million, transitioning the communications-software company to private ownership. Environmental services also produced a significant transaction, with Clean Harbors agreeing to acquire Sandy-based EnviroServe for $470 million in a deal expected to be accretive to earnings and cash flow. ClearOne's approximately $40.7 million reverse merger with Cortigent and Priority Payment Systems' $15 million acquisition of Draper-based Convenient Payments rounded out the quarter's disclosed values.

The quarter reinforced Utah's ability to attract strategic and institutional capital across industrial services, software, healthcare, insurance, payments, and specialty operating businesses. Disclosed value was highly concentrated: Varex Imaging represented approximately 50.04% of Q3 disclosed transaction value. Excluding Varex, disclosed value totaled approximately $1.149 billion. For founder-owners and sponsors evaluating Utah's exit environment, the broader transaction count demonstrates continued buyer interest even where deal consideration remained private.

Utah — Strategic vs. Sponsor-led Activity

Utah — X / Y Plot By Sector

Utah — M&A Segmentation

Utah — Sector Breakdown

Second Level Primary Industry Breakdown

Utah 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.

Anderson Wahlen & Associates, Inc. (7/1/2026)
Galloway & Company, LLC of Greenwood Village, CO, acquired Anderson Wahlen & Associates, Inc. of Salt Lake City, UT.
ClearOne, Inc. (7/2/2026)
Cortigent, Inc. of Valencia, CA, agreed to acquire ClearOne, Inc. of Salt Lake City, UT, for approximately $40.7 million in a reverse merger expected to create Cortigent Holdings, Inc. as the combined publicly traded company.
Northern Power Equipment, Inc. (7/2/2026)
Mountainland Supply, LLC of Salt Lake City, UT, acquired Northern Power Equipment, Inc. of Centerville, UT.
The Service Bureau (TSB) Software (7/8/2026)
KikOff Inc. of San Francisco, CA, acquired The Service Bureau (TSB) Software of Utah, bringing TSB employees into Kikoff and extending one year of free service to new nonprofit TSB customers.
Assets of Dominion Insurance Services Inc. (7/9/2026)
Trucordia Insurance Services, LLC of Lindon, UT, acquired the assets of Dominion Insurance Services Inc. of Alpine, UT.
Med Water Systems, LLC (7/14/2026)
AmeriWater LLC of Dayton, OH, acquired Med Water Systems, LLC of Woods Cross, UT.
Secturion Systems, Inc. (7/27/2026)
The Carlyle Group Inc. of Washington, DC, acquired Secturion Systems, Inc. of Centerville, UT.
Retirement Health Solutions, Inc. (7/28/2026)
Integrity, LLC of Dallas, TX, acquired Retirement Health Solutions, Inc. of Kaysville, UT.
JT THORPE Group, Inc. (7/30/2026)
Truelink Capital II, L.P., a fund managed by Truelink Capital Management, LLC, agreed to acquire a majority interest in JT THORPE Group, Inc. of Salt Lake City, UT, with management retaining a significant ownership stake and continuing to lead the business.
132 Claims (8/4/2026)
Infield Minerals Corp. of Vancouver acquired 132 claims located at the Kings Canyon project in Utah through staking, expanding its mineral position at the project.
Varex Imaging Corporation (8/10/2026)
Teledyne Technologies Incorporated of Thousand Oaks, CA, agreed to acquire Varex Imaging Corporation of Salt Lake City, UT, for approximately $1.151 billion, taking Varex private in an all-cash transaction.
Zenger Folkman Company (8/10/2026)
Andersen Group Inc. of San Francisco, CA, agreed to acquire Zenger Folkman Company of Orem, UT.
Work First Casualty Company (8/11/2026)
WCF Insurance Company of Sandy, UT, agreed to acquire Work First Casualty Company of Salt Lake City, UT, subject to regulatory approvals and customary closing conditions.
CONDUCTIVE GROUP, LLC (8/12/2026)
Principal Mineral Co. Inc. of Dallas, TX, acquired CONDUCTIVE GROUP, LLC of Cleveland, UT.
EnviroServe Inc. (8/12/2026)
Clean Harbors, Inc. of Norwell, MA, agreed to acquire EnviroServe Inc. of Sandy, UT, for $470 million, expanding its environmental-services platform in a transaction expected to be accretive to earnings and cash flow.
Mountain Land Design, Inc. (8/14/2026)
Kodiak Interiors Group LLC of Englewood, CO, acquired Mountain Land Design, Inc. of Salt Lake City, UT, retaining Dan Devenport as CEO to continue leading day-to-day operations.
Weave Communications, Inc. (8/18/2026)
Francisco Partners Management, L.P. of San Francisco, CA, agreed to acquire Weave Communications, Inc. of Lehi, UT, for approximately $623.2 million, taking the communications-software company private.
Vox Fulfillment LLC (8/21/2026)
Advantage Media Services, Inc. of Valencia, CA, acquired Vox Fulfillment LLC of Provo, UT.
Convenient Payments, LLC (8/25/2026)
Priority Payment Systems LLC of Alpharetta, GA, acquired Convenient Payments, LLC of Draper, UT, for $15 million.
RMT Equipment (9/1/2026)
Mountain West Utility Trailer, Inc. of Salt Lake City, UT, acquired RMT Equipment of Salt Lake City, UT, with the acquired business transitioning to operate as Mountain West Power Equipment.
Cielo Ventures LLC (9/3/2026)
Ally Waste LLC of Gilbert, AZ, acquired Cielo Ventures LLC of Spanish Fork, UT; the source narrative identifies the acquired business as Swift Integrated Services and says the transaction expands Ally Waste's presence in Utah, Florida, and Idaho while adding waste-stream optimization and brokerage capabilities.
Andersen Asphalt, LLC (9/17/2026)
Western Pavement Services, Inc. of Ogden, UT, acquired Andersen Asphalt, LLC of West Haven, UT, retaining the Andersen Asphalt name and leadership while its owners maintained significant ownership in Western Pavement Services.
Design To Print, Inc. (9/22/2026)
Duggal Visual Solutions, Inc. of Brooklyn, NY, acquired Design To Print, Inc. of Saint George, UT.
North Capital Investment Technology Inc. (9/23/2026)
MoonPay USA LLC of Dover, DE, entered into a definitive merger agreement to acquire North Capital Investment Technology Inc. of Midvale, UT, subject to regulatory approval and customary closing conditions.
Sorenson Forensics LLC (9/29/2026)
Othram Inc. of The Woodlands, TX, acquired Sorenson Forensics LLC of Draper, UT, retaining its Draper location, existing team, accreditation, and licensing.

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 | Utah M&A Insights

Q2 2026 | Utah M&A Insights