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Targets in Wyoming

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

In Q2 2026, Wyoming-based target companies recorded 7 M&A transactions representing approximately $28.64 million of aggregate disclosed transaction value. Only two transactions reported values, with the approximately $28.07 million HoudiniSwap transaction accounting for roughly 98% of the disclosed total; excluding that transaction, disclosed value was approximately $0.57 million. Buyer activity was notably cross-border and interstate: among acquirers with disclosed locations, all were based outside Wyoming, including three Canadian buyers. Activity spanned natural resources and uranium exploration, digital assets and software, construction services, hospitality, and consumer products, illustrating Wyoming's position as a relatively low-volume but diversified seller and exit market.

The quarter's largest disclosed transaction was Toronto-based Sol Strategies Inc.'s approximately $28.07 million acquisition of Sheridan-based HoudiniSwap LLC, adding a mobile-wallet and digital-asset transaction platform to its portfolio. The other disclosed transaction involved private investor Inderjit Mangat's acquisition of a 57.47% stake in Pinedale-based IMA Tech Inc. for approximately $0.57 million, resulting in a transfer of majority ownership and management control. Resource activity was also prominent despite undisclosed transaction values, with Vancouver-based URZ3 Energy acquiring mineral claims in Wyoming's Powder River Basin and Kelowna-based Strathmore Plus Uranium adding strategic claims around its flagship Agate exploration project. Elsewhere, Tecta America acquired Laramie-based Big Horn Roofing, MAS Tierra acquired Meadowlark Lake Lodge in Ten Sleep, and WW Partners acquired an 80% stake in Kirby-based Wyoming Whiskey.

The quarter reinforced Wyoming's ability to attract strategic and private capital from well beyond the state's borders across a varied set of industries. For founder-owners and other sellers evaluating an exit, the mix demonstrates that buyer interest can extend from local operating businesses and consumer brands to technology and resource assets, although the limited level of disclosed consideration makes broad valuation conclusions from the quarter inappropriate.

Wyoming — Strategic vs. Sponsor-led Activity

Wyoming — X / Y Plot By Sector

Wyoming — M&A Segmentation

Wyoming — Sector Breakdown

Second Level Primary Industry Breakdown

Wyoming 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.

Additional Claims (4/7/2026)
URZ3 Energy Corp. of Vancouver, Canada, acquired additional mineral claims in the Powder River Basin, WY, expanding its position in the basin as it pursues additional state leases in the region.
HoudiniSwap LLC (5/4/2026)
Sol Strategies Inc. of Toronto, Canada, acquired HoudiniSwap LLC of Sheridan, WY, for approximately $28.07 million, adding a mobile-wallet and digital-asset transaction platform to its portfolio.
Meadowlark Lake Lodge, LLC (5/7/2026)
MAS Tierra, LLC of Scottsdale, AZ, acquired Meadowlark Lake Lodge, LLC of Ten Sleep, WY, marking the first phase of its longer-term vision for the Bighorn area.
Big Horn Roofing, Inc. (5/18/2026)
Tecta America Corporation of Rosemont, IL, acquired Big Horn Roofing, Inc. of Laramie, WY, extending its roofing platform into Wyoming while retaining Big Horn Roofing's local brand and leadership.
Additional Mineral Claims (6/16/2026)
Strathmore Plus Uranium Corp. of Kelowna, Canada, acquired additional mineral claims at its Agate exploration project in WY, expanding its land position around the company's flagship exploration asset.
IMA Tech Inc. (6/17/2026)
Private investor Inderjit Mangat acquired a 57.47% stake in IMA Tech Inc. of Pinedale, WY, for approximately $0.57 million, transferring majority control and management of the application-software company to Mangat.
Wyoming Whiskey, Inc. (6/25/2026)
WW Partners, LLC acquired an 80% stake in Wyoming Whiskey, Inc. of Kirby, WY, giving the buyer a controlling interest in the Wyoming-based distiller.

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.

Q2 2026 | Wyoming M&A Insights

Q3 2026 | Wyoming M&A Insights

Q1 2026 | Wyoming M&A Insights