Tracked deals
15
15 tracked deals across 2019-2026.
Industrial Services Buyers & Acquisitions in Montana
Buyer mix
Mixed buyer set
14 strategic · 7 pe
Top trend
Volume peaked in 2026
4 tracked deals announced in 2026.
Primary Insight
What Stands Out
- SFP Holding, Inc. (Summit Companies) and Summit Fire & Security LLC have grown in Montana via acquisitions including Mahugh Fire & Safety and SAFE Fire and Medical Services.
- Add-on expansion themes show up in equipment rental and distribution, including Rental Equipment Investment Corp. (REIC) (via Kinderhook Industries, LLC) and IDI, Insulation Distributors, Inc.
- Industrial processing and materials infrastructure are also present, such as Resodyn (industrial mixing/materials processing) and the Jefferson County Metallurgical Complex (milling and flotation infrastructure).
- Deal structures range from majority-stake platform builds to Chapter 11/Section 363 asset purchases; some transactions include updates tied to court approval.
| Recurring buyer/theme | What it signals in Montana |
|---|---|
| Fire protection & life safety (Summit/SFP) | Capability + regional footprint expansion |
| Rental & distribution platforms | Denser branch/coverage in Montana and nearby regions |
| Industrial processing / metals | Interest in physical assets and processing infrastructure |
| Sponsor-backed platforms (e.g., Ridgemont/Kinderhook) | Integration of operators and add-on targets |
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Top Buyers
Illustrative buyers pulled from tracked transactions on this page. This table is capped and intentionally non-exhaustive.
| Buyer | # Deals | Focus | Type |
|---|---|---|---|
| SFP Holding, Inc. (Summit Companies) | 3 | Parent/holding company for Summit fire protection brands ... | Investor |
| Summit Fire & Security LLC | 3 | National fire protection and life-safety services provide... | Strategic (PE-backed) |
| Kinderhook Industries, LLC | 2 | Middle-market private equity firm that invests in industr... | PE |
| BJG Electronics, Inc. | 1 | Global supplier and value-added distributor of interconne... | Strategic (PE-backed) |
| Capstreet | 1 | Lower middle market private equity firm investing in soft... | PE |
| Continuim Equity Partners | 1 | Private equity firm focused on acquiring and accelerating... | PE |
| Continuim Equity Partners Fund II, LP | 1 | Continuim’s Fund II vehicle making the platform investmen... | PE |
| H&E Equipment Services, Inc. | 1 | National equipment rental company operating a diversified... | Strategic |
| IDI, Insulation Distributors, Inc. | 1 | Family-owned distributor of insulation materials, equipme... | Strategic |
| Iwatani Corporation of America | 1 | U.S. subsidiary of Iwatani Corporation (Tokyo-listed) ope... | Strategic |
Acquisition Volume in Industrial Services in Montana by Year
Last 6 years
Actual
Full-year estimate
Supporting Data
Recent Transactions
-
August 27, 2026
- Buyer
- Continuim Equity Partners, Continuim Equity Partners Fund II, LP
- Target
- Resodyn Corporation, Resodyn Acoustic Mixers, Inc. (assets)
- Seller
- Lawrence Farrar (remaining shareholder mentioned)
- Industry
- Industrial Services
- Location
- Montana, United States
- Type
- Buyout
Continuim Equity Partners acquired a majority interest in Resodyn Corporation and the assets of Resodyn Acoustic Mixers, Inc., alongside strategic growth capital to fund Resodyn’s expansion. The deal positions Resodyn as Continuim’s platform in industrial mixing and materials processing, with founder Lawrence Farrar remaining a shareholder and transitioning to Chief Technology Officer.
-
August 24, 2026
- Buyer
- Silver Bow Mining Corp.
- Target
- Jefferson County Metallurgical Complex
- Seller
- Montana Goldfields, Inc., Montana Tunnels Mining, Inc.
- Industry
- Industrial Services
- Location
- Montana, United States
- Type
- Buyout
Silver Bow Mining Corp. entered into a definitive asset purchase agreement to acquire the Jefferson County Metallurgical Complex from Montana Goldfields, Inc. and Montana Tunnels Mining, Inc. The complex includes milling and flotation infrastructure and the historic Montana Tunnels M-Pit, and the transaction is structured as a Chapter 11/Section 363 sale process subject to approvals and customary closing conditions. The September 4, 2026 update reports bankruptcy court approval and completion of the initial closing, with final ownership transfer expected at a later final closing.
-
- Buyer
- IDI, Insulation Distributors, Inc.
- Target
- Design North Supply
- Industry
- Industrial Services
- Location
- Montana, United States
- Type
- Addon
IDI, Insulation Distributors, Inc. announced it has acquired Design North Supply, a distributor of spray foam and polyurea serving insulation applicators across the Northwestern U.S. and Alaska. The deal expands IDI’s geographic coverage into Montana, Alaska, and the broader Northwest, adding products and national distribution support for Design North’s customers.
-
March 24, 2026
- Buyer
- The Rubber Group, River Associates Investments, L.P.
- Target
- Diversified Plastics, Inc. (DPI)
- Seller
- Diversified Plastics owner and management team (Brad Reid and leadership team) — selling party not otherwise named
- Industry
- Industrial Services
- Location
- Montana, United States
- Type
- Buyout
River Associates’ portfolio company The Rubber Group acquired Diversified Plastics, Inc. (DPI), a precision plastics manufacturer. The combination integrates rubber, plastics, and urethane capabilities and keeps DPI operating from its existing Missoula, Montana facility under the new name Diversified Plastics Industrial Solutions.
-
May 14, 2025
- Buyer
- Pacific Steel & Recycling
- Target
- Steel Etc.
- Industry
- Industrial Services
- Location
- Montana, United States
- Type
- Buyout
Pacific Steel & Recycling has acquired Steel Etc., a Great Falls, Montana-based surplus steel and recycling business. Pacific Steel said all Steel Etc. employees will retain their jobs and framed the deal as an expansion of its regional footprint and commitment to the Great Falls community.
-
December 3, 2024
- Buyer
- The Colt Group, Capstreet
- Target
- Plant Services, Inc.
- Industry
- Industrial Services
- Location
- Montana, United States
- Type
- Addon
The Colt Group, a Houston-based provider of on-line industrial leak repair solutions backed by Capstreet, has acquired Plant Services, Inc. (PSI), a Worden, Montana-based specialist in on-line leak repair, hot tapping, line stopping and field machining, expanding Colt's footprint across the Rocky Mountain region. Terms were not disclosed; NXT Capital provided financing in support of Capstreet's add-on acquisition and refinancing of The Colt Group.
-
- Buyer
- Rental Equipment Investment Corp., Kinderhook Industries, LLC
- Target
- Bigfork Rentals, Inc.
- Seller
- Steve Ricci
- Industry
- Industrial Services
- Location
- Montana, United States
- Type
- Addon
Rental Equipment Investment Corp. (REIC), a portfolio company of Kinderhook Industries, has acquired Bigfork Rentals, Inc., a general equipment rental business headquartered in Bigfork, Montana. The deal is an add-on to REIC’s platform (its ninth under Kinderhook) and expands REIC’s presence and density in Flathead and Lake counties; financial terms were not disclosed.
-
- Buyer
- H&E Equipment Services, Inc.
- Target
- Lewistown Rental and affiliated companies
- Industry
- Industrial Services
- Location
- Montana, United States
- Type
- Buyout
H&E Equipment Services, Inc. signed a definitive agreement to acquire Lewistown Rental, a Lewistown, Montana-based equipment rental business, along with three affiliated locations in Havre, Glasgow and Great Falls, Montana. The deal extends H&E's branch footprint in Montana and adds a diverse fleet with an original equipment cost estimated at $28.5 million; the transaction is expected to close in Q2 2024.
-
October 24, 2023
- Buyer
- Summit Fire & Security LLC, SFP Holding, Inc. (Summit Companies)
- Target
- Mahugh Fire & Safety
- Seller
- Mahugh Fire & Safety, Gary Mahugh (owner)
- Industry
- Industrial Services
- Location
- Montana, United States
- Type
- Addon
Summit Fire & Security LLC, a subsidiary of SFP Holding, Inc. (Summit Companies), acquired Mahugh Fire & Safety effective October 24, 2023. The acquisition adds a fourth Montana location in Kalispell and expands Summit's fire protection and life-safety services in the region while Mahugh's owner will focus on his fire equipment business, Northern Rockies Fire.
-
- Buyer
- Summit Fire & Security LLC, SFP Holding, Inc. (Summit Companies)
- Target
- SAFE Fire and Medical Services
- Seller
- Shane McMahon
- Industry
- Industrial Services
- Location
- Montana, United States
- Type
- Buyout
Summit Fire & Security LLC (part of SFP Holding, Inc./Summit Companies) acquired SAFE Fire and Medical Services, a Missoula, Montana-based fire protection and medical services firm, effective May 1, 2023. The deal brings SAFE's employees and fire-extinguisher and pre-engineered systems capabilities into Summit's platform to expand service coverage and capabilities across Montana (Billings, Bozeman and Missoula).
-
January 4, 2023
- Buyer
- Iwatani Corporation of America
- Target
- Aspen Air U.S., LLC
- Industry
- Industrial Services
- Location
- Montana, United States
- Type
- Buyout
Iwatani Corporation of America, the U.S. subsidiary of Japan-listed Iwatani Corporation, has acquired Aspen Air U.S., LLC, a Billings, Montana-based manufacturer and distributor of bulk liquid industrial gases. The acquisition marks Iwatani's entry into the U.S. industrial gases market to expand its hydrogen, industrial and specialty gases footprint; financial terms were not disclosed.
-
November 29, 2022
- Buyer
- Sparus Holdings, Ridgemont Equity Partners
- Target
- United Locating Services
- Industry
- Industrial Services
- Location
- Montana, United States
- Type
- Addon
Sparus Holdings, a portfolio company of Ridgemont Equity Partners, has acquired United Locating Services (ULS), a utility locating and damage prevention services provider with operations across the Midwest and Southwest. ULS's leadership team will remain in place to run the business within the Sparus platform; terms were not disclosed.
-
- Buyer
- SFP Holding, Inc. (Summit Companies), Summit Fire & Security LLC
- Target
- ByDesign LLC dba Burtell Fire Protection
- Seller
- Joe Burtell / ByDesign LLC (Burtell Fire Protection)
- Industry
- Industrial Services
- Location
- Montana, United States
- Type
- Addon
Summit Fire & Security (a subsidiary of SFP Holding, Inc./Summit Companies) has completed the purchase of ByDesign LLC, dba Burtell Fire Protection, a Billings, Montana-based fire sprinkler and protection services provider. Burtell will continue providing inspections, service and maintenance across Montana, northern Wyoming and western North Dakota as part of Summit's branch network expansion.
-
- Buyer
- Kinderhook Industries, LLC, Kevin Fitzgerald (Founder & CEO, management partner)
- Target
- Rental Equipment Investment Corporation (REIC)
- Industry
- Industrial Services
- Location
- Montana, United States
- Type
- Buyout
Kinderhook Industries, in partnership with REIC founder and CEO Kevin Fitzgerald, has acquired Rental Equipment Investment Corporation (REIC). The private equity firm said the investment will accelerate REIC's organic growth and enable a program of strategic add-on acquisitions and new specialty site openings across its 32-location fleet.
-
April 5, 2019
- Buyer
- BJG Electronics, Inc.
- Target
- Connector Tech LLC
- Industry
- Industrial Services
- Location
- Montana, United States
- Type
- Addon
Ronkonkoma, New York-based BJG Electronics, a Rockwood portfolio company, has acquired Connector Tech LLC, a value-added distributor of high-reliability electronic interconnect products headquartered in Kalispell, Montana. The add-on expands BJG's value-added production capabilities and provides access to commercial and industrial end markets including aerospace, military, oil & gas, and other industrial customers; Connector Tech will continue operating from its Kalispell facility with its existing employees.
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Frequently Asked Questions
Which subsectors are most active in Montana industrial services acquisitions?
Recent deals touch fire protection and life-safety services, equipment rental, industrial distribution, specialty industrial services (e.g., leak repair), and industrial processing (including metals and industrial gases).
Are there examples of sponsor-backed buyers using an add-on strategy in Montana?
Yes. Kinderhook Industries, LLC appears via Rental Equipment Investment Corp. (REIC) acquiring Bigfork Rentals, Inc. as an add-on, and Ridgemont Equity Partners appears via Sparus Holdings acquiring United Locating Services.
What types of deal structures are reflected in these transactions?
The page includes both platform-style acquisitions (e.g., majority stake in Resodyn) and asset purchases structured as Chapter 11/Section 363 sales, including Silver Bow Mining Corp. acquiring the Jefferson County Metallurgical Complex.
Do the acquisitions usually keep local operations in place?
Several summaries indicate continuity, such as keeping employees on board (e.g., Pacific Steel & Recycling said Steel Etc. employees will retain their jobs) or maintaining local operations/facilities while integrating into a new platform.
Related Acquisition Pages
Industrial Services Buyers & Acquisitions
Industrial Services Buyers & Acquisitions in Canada
Private Equity-Backed Industrial Services Buyers
Industrial Services Acquisitions in 2026
Industrial Services Acquisitions in 2025
Industrial Services Acquisitions in 2024
Industrial Services Acquisitions in 2023
Industrial Services Acquisitions in 2022
Industrial Services Acquisitions in 2019
Acquisitions in Montana
Private Equity-Backed Acquisitions in Montana
Acquisitions in Montana in 2026