June 2025 | Utah 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 Utah
Utah - Transaction Value and Count by Month
Utah M&A Overview — Business Sale Activity for M&A Targets
In June 2025, Utah-based companies were the target of 11 M&A transactions, with activity in healthcare, consumer, materials, and technology sectors, reflecting the state’s diverse economic landscape. The key high-value deal was Triumph Gold Corp.’s $3.98 million acquisition of the Coyote Knoll Project. Note that only $3.98 million of transaction volume was disclosed for the month of June. With 5 private equity-backed deals, these transactions highlight Utah’s appeal to buyers seeking strategic assets in niche sectors like healthcare and consumer goods.
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.
1. Mazree, LLC (06/03/2025)
SpendMend LLC acquired Mazree, LLC in Salt Lake City, UT, on June 3, 2025, enhancing its healthcare technology offerings in the healthcare sector with private equity backing.
2. Pan-Am West (06/03/2025)
Catalis Dental Lab Partners acquired Revolution Dental Lab in Sandy, UT, on June 3, 2025, expanding its healthcare equipment offerings in the healthcare sector, rebranded as Pan-Am West, without private equity backing.
3. Bonrue Bakery (06/04/2025)
Savory Fund acquired an unknown majority stake in Bonrue Bakery in Saint George, UT, from Chris Connors and Li Hsun Sun on June 4, 2025, expanding its packaged foods and meats operations in the consumer sector with private equity backing, with founders retaining leadership roles.
4. Coyote Knoll Project (06/04/2025)
Triumph Gold Corp. (TSXV:TIG) acquired the Coyote Knoll Project in Utah for $3.98 million on June 4, 2025, expanding its gold mining operations in the materials sector, located 85 km south of Bingham Canyon, without private equity backing.
5. Mineral Claims (06/06/2025)
Lithium Energy Limited (ASX:LEL) acquired mineral claims in Utah through a staking transaction on June 6, 2025, expanding its diversified metals and mining operations in the materials sector, covering 6,150 hectares of the White Plains Lithium Brine Project, without private equity backing.
6. Tesani Insurance Group LLC (06/13/2025)
ALKEME INC. unit ALKEME Intermediary Holdings, LLC acquired Tesani Insurance Group LLC in Provo, UT, on June 13, 2025, enhancing its insurance brokerage services in the financials sector with private equity backing, advised by Sica Fletcher.
7. Alta Management Solutions, LLC (06/16/2025)
Cosentus, LLC acquired Alta Management Solutions, LLC in Bountiful, UT, on June 16, 2025, expanding its healthcare services in the healthcare sector, integrating Alta’s leadership and team, without private equity backing.
8. Occupational Fitness, Inc. (06/19/2025)
ASA Safety Supply acquired Occupational Fitness, Inc. in Cedar City, UT, on June 19, 2025, enhancing its leisure facilities in the consumer sector with private equity backing.
9. Diamond Lake Minerals, Inc. (06/24/2025)
Unicoin Inc. acquired a 51% stake in Diamond Lake Minerals, Inc. (OTCPK:DLMI) in Salt Lake City, UT, on June 24, 2025, enhancing its application software offerings in the technology sector, rebranding as DiamondLake Inc., with closure expected within 20 days, without private equity backing.
10. Larry H. Miller Chevrolet/Larry H. Miller Ford/Larry H. Miller Chrysler Jeep Dodge Ram (06/30/2025)
Salt Lake Valley Auto Group acquired Larry H. Miller Chevrolet, Larry H. Miller Ford, and Larry H. Miller Chrysler Jeep Dodge Ram in Utah from Asbury Automotive Group, Inc. on June 30, 2025, expanding its automotive retail in the consumer sector, advised by Kerrigan Advisors, without private equity backing.
11. Now CFO, LLC (06/30/2025)
CenterOak Partners LLC acquired an unknown majority stake in Now CFO, LLC in Salt Lake City, UT, on June 30, 2025, expanding its research and consulting services in the industrials sector with private equity backing.
Buyers in Utah
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.
Utah— M&A Business Acquisition Overview (Buyers)
In June 2025, Utah-based buyers executed 8 M&A transactions, with activity in consumer, technology, industrials, and unclassified sectors, reflecting the state’s diverse economic engagement. Key deals included Sintx Technologies, Inc.’s $1.08 million acquisition of SiNAPTIC Surgical and Savory Fund’s acquisition of Bonrue Bakery, with a total disclosed transaction volume of approximately $1.08 million. With 1 private equity-backed deal, these transactions highlight Utah’s appeal to buyers targeting niche assets in consumer and technology sectors.
Utah M&A Deal Summaries — Business Sale Activity for M&A Buyers
1. Bonrue Bakery (06/04/2025)
Savory Fund in Lehi, UT, acquired an unknown majority stake in Bonrue Bakery in Saint George, UT, from Chris Connors and Li Hsun Sun on June 4, 2025, expanding its packaged foods and meats operations in the consumer sector with private equity backing, with founders retaining leadership roles.
2. Josh, LLC (06/11/2025)
TruGolf Holdings, Inc. (NasdaqCM:TRUG) in Centerville, UT, executed a definitive agreement to acquire Josh, LLC on June 11, 2025, enhancing its application software offerings in the technology sector without private equity backing.
3. Dallas Data Systems, Inc. (06/15/2025)
Caselle, Inc. in Provo, UT, acquired Dallas Data Systems, Inc. in Pottstown, PA, on June 15, 2025, strengthening its application software offerings in the technology sector without private equity backing.
4. Topper Linen Supply Limited (06/23/2025)
Alsco Inc. in Salt Lake City, UT, acquired Topper Linen Supply Limited in Toronto on June 23, 2025, expanding its diversified support services in the industrials sector, rebranding the Toronto facility as Alsco Uniforms, without private equity backing.
5. BluePeak Technology Solutions LLC (06/24/2025)
Nexus IT Consultants LLC in Salt Lake City, UT, acquired BluePeak Technology Solutions LLC in Reno, NV, on June 24, 2025, enhancing its IT consulting services in the technology sector without private equity backing.
6. Gateway Chevrolet, Inc. (06/24/2025)
Ken Garff Automotive, LLC in Salt Lake City, UT, acquired Gateway Chevrolet, Inc. in Avondale, AZ, on June 24, 2025, expanding its automotive retail in the consumer sector, operating as Ken Garff Gateway Chevrolet, without private equity backing.
7. SiNAPTIC Surgical (06/24/2025)
Sintx Technologies, Inc. (NasdaqCM:SINT) in Salt Lake City, UT, acquired SiNAPTIC Surgical from SiNAPTIC Technologies, LLC for $1.08 million on June 24, 2025, expanding its unclassified operations in the unclassified sector with a $0.33 million earnout, without private equity backing.
8. Larry H. Miller Chevrolet/Larry H. Miller Ford/Larry H. Miller Chrysler Jeep Dodge Ram (06/30/2025)
Salt Lake Valley Auto Group in Salt Lake City, UT, acquired Larry H. Miller Chevrolet, Larry H. Miller Ford, and Larry H. Miller Chrysler Jeep Dodge Ram in Utah from Asbury Automotive Group, Inc. on June 30, 2025, expanding its unclassified automotive retail operations, advised by Kerrigan Advisors, without private equity backing.
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.
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