Private Equity-Backed Acquisitions in New Mexico

Center for Social Dynamics (CSD), a national autism and behavioral health services provider sponsored by GS Alternatives, has acquired Behavior Change Institute (BCI), a New Mexico–based autism services provider. The add-on expands CSD’s Southwest footprint, strengthens clinical research and technology-enabled care, and aims to broaden access to evidence-based autism services across underserved communities.

EP Wealth Advisors has partnered with and acquired LongView Asset Management, a Santa Fe-based RIA, adding more than $390 million in AUM and expanding EP Wealth's presence in New Mexico. LongView founder David Cantor and seven team members will join EP Wealth, and the move is intended to broaden the firm's planning and advisory capabilities for LongView's clients.

UES has acquired GEOMAT, a Farmington, New Mexico-based geotechnical engineering, materials testing, and special inspection consultancy. The 50+ person firm will join UES’s West region as its first New Mexico presence, expanding UES’s footprint and service offering into the Four Corners area while GEOMAT continues to be led by President Matt Cramer, PE.

Atlantic Aviation has acquired Jet Center at Santa Fe, a full-service FBO at Santa Fe Regional Airport, adding approximately 16.5 acres of ramp space, a modern executive terminal and ~50,000 sq. ft. of heated hangar space to its network. The facility immediately begins operating as Atlantic Aviation and expands the operator's presence in New Mexico as part of its strategy to add high-quality FBO locations.

Tecta America Commercial Roofing has acquired J3 Systems, a family-owned commercial roofing contractor based in Bosque Farms, New Mexico. The deal gives Tecta its first presence in New Mexico; J3 Systems will continue to operate under its name with Jeremy Utash serving as President and existing employees remaining in place.

RD Last Mile Holdings, LLC (doing business as ADL Final Mile), a final-mile delivery platform backed by Red Dog Equity, Monroe Capital and The Pritzker Organization, has acquired DMC Logistics, a regional final-mile and customized logistics provider serving the Southwest U.S. The acquisition expands ADL Final Mile's footprint in the Southwest (adding DMC’s service area across New Mexico, Arizona, Colorado, Nevada, Texas and Utah) as an add-on to its growing platform.

EP Wealth Advisors announced a strategic partnership to bring Santa Fe-based Better Money Decisions (BMD) into the EP Wealth platform, adding roughly $370 million in AUM and a small team of advisors. The move expands EP Wealth's presence in the Southwest and provides a succession plan as BMD Managing Partner Lorraine Ell transitions to retirement.

TXNM Energy (NYSE: TXNM), the Albuquerque-based energy holding company that owns regulated utilities PNM and TNMP, has agreed to be acquired by Blackstone Infrastructure for $61.25 per share in cash, implying an enterprise value of $11.5 billion. Blackstone Infrastructure will fund the purchase with equity, make a concurrent $400 million private placement in TXNM, and intends to keep PNM and TNMP locally managed while supporting long-term investments for the energy transition; the deal is expected to close in the second half of 2026 subject to regulatory and shareholder approvals.

Rentvine has acquired Bynnd, a provider of trust accounting and bookkeeping services for property managers, and will integrate Bynnd’s accounting expertise into its platform. Kristin Johnson, Bynnd’s founder, is joining Rentvine’s leadership team as part of the transaction; Rentvine is a PE-backed property-management software provider (backed by Mainsail Partners).

Paine Schwartz Partners-backed HGS BioScience has acquired Menefee Mining Corporation and Earthgreen Products, Inc., adding the Menefee mine and Earthgreen's extraction/formulation technology to its operations. The transaction expands HGS's humate product portfolio, vertical integration and manufacturing footprint (including processing in Cuba, New Mexico), enhancing its ability to supply premium humic and fulvic acid products to agricultural customers.

B&R Auto, a portfolio company of Highview Capital, has acquired Highway 64 Truck and Auto Salvage, a Farmington, New Mexico-based auto salvage and recycled-parts provider. The add-on expands B&R's Western U.S. network into New Mexico and deepens its reach across the Southwestern U.S., including first-time access into Texas.

Houston-based private equity firm Pelican Energy Partners has acquired Lancs Industries, an Albuquerque-based manufacturer of radiation containment and shielding solutions serving the DOE, commercial nuclear, U.S. Navy, national laboratories and pharmaceutical sectors. Pelican said the deal will support growth and job creation in Albuquerque as the firm looks to expand capabilities in the nuclear supply chain.

Hub International Limited acquired the assets of Woods Insurance Services, Inc., an independent insurance agency headquartered in Farmington, New Mexico. The acquisition expands Hub Southwest's commercial, personal and employee benefits capabilities and strengthens its specialty oil & gas insurance offerings; terms were not disclosed.

Ridgewood Infrastructure has acquired Valley Cold Storage & Transportation, a New Mexico–based provider of temperature-controlled storage and logistics services, to support the company’s continued expansion into existing and new markets. Citizens served as exclusive financial advisor to Ridgewood and Kirkland & Ellis represented Ridgewood on the transaction.

Community Tree Service, a Hastings Equity Partners-backed vegetation management platform, has acquired Southwest Contracting & Associates, a Capitan, New Mexico-based tree thinning and trimming provider. The acquisition expands CTS's operations into the Southwestern U.S. and diversifies its customer base with additional state and federal agency relationships.

Bernhard Capital Partners has agreed to acquire New Mexico Gas Company (NMGC) from Emera Inc. for an aggregate transaction value of $1.252 billion USD, including assumption of approximately $500 million of debt. The deal, subject to New Mexico Public Regulation Commission approval and HSR clearance, is expected to close in late 2025 and supports Emera's portfolio optimization while giving BCP a regulated utility platform investment in New Mexico.

Standard Solar has acquired the 4.98-megawatt Bent Bow Community Solar project in Doña Ana County, New Mexico from developer Energy Management, Inc. The ground-mount project, developed by EMI beginning in 2021, is expected to be completed in late 2025 and will dedicate at least 30% of output to low-income subscribers under New Mexico's Community Solar Act.

Platte River Equity portfolio company Municipal Emergency Services, Inc. (MES) has acquired Firefighter Trucks, Inc., a Las Cruces, New Mexico-based distributor and servicer of fire apparatus. The add-on expands MES’s geographic coverage and product offering in the first-responder market, broadening MES’s ability to serve fire departments in New Mexico and Colorado.

Energy Systems Group (ESG) has acquired Yearout Energy Services to expand its national footprint and strengthen its service offerings in the Southwest, including Texas, Colorado, Arizona and New Mexico. Yearout’s management, led by President Colby Geer, will remain in place as part of ESG’s leadership team to accelerate growth and deliver expanded design-build, energy-efficiency, distributed generation and O&M services to public and private sector clients.

Bernhard Capital Partners’ dedicated Department of Energy (DOE) services platform has acquired Strategic Management Solutions, LLC (SMSI), a provider of program management, engineering and technical consulting services to DOE, NNSA, national laboratories and industrial nuclear clients. SMSI — founded in 1999 and headquartered in Albuquerque, New Mexico with over 400 employees — will continue to be led by its current management while joining Bernhard’s DOE/NNSA services platform to expand mission-critical capabilities and vertical integration across government nuclear and environmental programs.

Avenu Insights & Analytics, a portfolio company of Arlington Capital Partners, has acquired Finvi's State & Local Government Division (Finvi SLG), a provider of court case management, collections workflow and integrated electronic payments software. The acquisition, announced January 17, 2024, is an add-on to Avenu aimed at expanding its court system and payment capabilities for state and local government customers; financial terms were not disclosed.

Rosewood Private Investments has acquired Herbs, Etc., a Santa Fe-based manufacturer and marketer of herbal supplements led by CEO Daniel Gagnon. The acquisition brings Herbs' liquid tincture and soft-gel product portfolio and DTC/Amazon channels into Rosewood’s health & wellness investment focus to support product innovation and market expansion.

Conductive Containers, Inc. (CCI), a portfolio company of Great River Capital Partners, has acquired Crestline Plastics, Inc., a thermoformed optics and precision packaging manufacturer based in Albuquerque, New Mexico. Crestline will operate as the CCI–Crestline Division with Derek Hermann continuing as General Manager; the deal expands CCI's capabilities in optics packaging and creates a Southwest hub to better serve Southern California and Mexico.

Bersh HOA, a permanent-capital platform focused on HOA property management businesses, has acquired Blue Door Realty, a property management firm serving HOA and residential communities in the greater Albuquerque, New Mexico area. Blue Door's founder Melanie McLaughlin will remain in day-to-day leadership while Bersh provides capital and resources to accelerate organic and acquisition growth and expand services in New Mexico.

The Riverside Company, via its Micro-Cap Fund, has acquired LightHouse Business Information Solutions as an add-on to its Managed IT Services platform ProVelocity and IronEdge Group. LightHouse, headquartered in Albuquerque, New Mexico (with a satellite office in Olathe, Kansas), provides outsourced IT services to SMBs and local governments across professional services, industrials, healthcare and non-profit verticals; the deal expands Riverside’s MSP footprint in New Mexico and the Midwest.

RoadSafe Traffic Systems, Inc. has acquired Highway Supply, LLC, a traffic control products and pavement marking services provider based in Albuquerque, New Mexico. The acquisition — RoadSafe’s ninth since entering a strategic partnership with private equity firms Investcorp and Trilantic North America in 2021 — expands RoadSafe’s geographic footprint and service capabilities in the New Mexico market.

Alpha Safety Holdings, a Benford Capital Partners portfolio company, has completed the add-on acquisition of Pajarito Scientific Corporation. The acquisition strengthens Alpha Safety's capabilities in nuclear material characterization, containment, ventilation and radiation safety to better serve Department of Energy and commercial nuclear customers.

Clearstead Advisors has acquired Avalon Trust, a Santa Fe-based wealth management and trust firm, expanding Clearstead's presence in the Southwest and bolstering its trust capabilities. Avalon — which manages approximately $2 billion in assets and has 13 employees — will join Clearstead's platform, with Avalon leaders becoming partners and the combined firm overseeing roughly $28 billion in assets under advisement and management.

Critical Energy Infrastructure Services (CEIS), a platform backed by White Wolf Capital, has acquired Clover Leaf Solutions, a New Mexico–based provider of consulting and staffing services to Department of Energy laboratories and commercial clients. The acquisition is the second add-on to the CEIS platform and is intended to expand CEIS's geographic reach and service offerings across the U.S.; financial terms were not disclosed.

Greenbelt Capital Partners led a majority recapitalization of Unirac, Inc., with investment participation from Trilantic Energy Partners II and related funds. Existing sponsor Tenex Capital Management and key members of Unirac's management will retain a significant ownership stake; the transaction will support product development, supply‑chain resiliency and continued growth in the residential and commercial solar racking market.

Rapid Fire Safety & Security, a new PE-backed platform launched in partnership with Concentric Equity Partners, has acquired Security & Access Systems (SAS), a commercial and government security and fire alarm services provider headquartered in Albuquerque, New Mexico. SAS's founders Chris and Molly Ipiotis will remain for an interim transition period as the business becomes the first add-on for the Rapid Fire platform to expand its regional footprint and service capabilities.

Affiliates of Antarctica Capital have acquired a controlling interest in Descartes Labs, a provider of AI-driven geospatial intelligence and analytics. Concurrent with the transaction, Antarctica operating partners Richard Davis and Graeme Shaw were named CEO and COO of Descartes Labs as the firm plans to accelerate the company's growth and product innovation across commercial and government end markets.

BlueThread Services, a roofing and exterior services platform backed by Seaside Equity Partners, has partnered with RoofCARE, a commercial and municipal roofing specialist headquartered in Albuquerque, New Mexico. The transaction brings RoofCARE into the BlueThread platform, expanding the platform’s Southwestern U.S. footprint and strengthening its service, repair and maintenance capabilities.

Huron Capital-backed Pueblo Mechanical & Controls acquired Travers Mechanical Services, a Albuquerque-based HVAC and plumbing services provider with roughly 40 employees. The deal is an add-on that expands Pueblo into New Mexico (its fourth U.S. state) and is the platform's seventh add-on in the past 10 months.

North Hudson Resource Partners LP, alongside LOGOS management, acquired LOGOS Resources II, LLC from affiliates of ArcLight Capital Partners for approximately $402 million. The acquisition gives North Hudson control of LOGOS' ~230,000+ net acres and current production (~106 MMcfe/d), positioning the buyer to accelerate development of Mancos Shale and Gallup reserves and increase production.

Charlotte-based Power-Utility Products Co. (PUPCO), a WJ Partners portfolio company, acquired MIROC, a telecom components manufacturer and distributor based in Albuquerque, New Mexico. The add-on expands PUPCO's product offering into telecom components and provides geographic presence in the western United States; terms were not disclosed.

Cosmetic Solutions, a Boca Raton-based contract manufacturer and private-label skincare partner, has acquired New Mexico-based Private Label Select (PLS), an organic cosmetics and personal care manufacturer. The acquisition adds organic and anhydrous formulation capabilities to Cosmetic Solutions' offering; Cosmetic Solutions is PE-backed with investment from funds managed by Lee Equity Partners. Financial terms were not disclosed.

Stonepeak, a New York-based alternative investment firm, has entered into a definitive agreement to acquire Rinchem Company Inc., a specialty chemical and gas warehousing and logistics provider. The acquisition will support Rinchem's expansion into new markets and leverage Stonepeak's experience in transportation, logistics and infrastructure to grow the business globally; financial terms were not disclosed and the deal was expected to close in Q1 2022.

Dallas-based Access Dental Management LLC, backed by Surge Private Equity LLC, has acquired Bridget R. Burris, D.D.S., P.C., a multi-million dollar dental practice in Las Cruces, New Mexico. The deal closed with debt financing from Corbel Capital Partners and marks Access Dental's entry into New Mexico as its fifth add-on of 2021.

Pharos Capital-backed Charter Healthcare Group acquired Silver Linings Hospice Care, a Cedar Crest (Albuquerque metro) hospice provider, marking Charter’s first expansion into New Mexico and increasing its footprint to eight states. Financial terms were not disclosed; the acquisition is an add-on to Charter’s post-acute care platform to expand hospice and palliative capabilities in the region.

EQT Private Equity (via the EQT Mid Market Asia III Fund) has made a significant growth-equity investment in EC-Council, the global cybersecurity training and certification provider. Founder Jay Bavisi will retain a majority stake and remain CEO as EQT supports EC-Council's next phase of growth, digitalization and product expansion.

Creedence Energy Services, a Tower Arch Capital portfolio company, has recapitalized Magna Energy Services, LLC, making Magna a wholly owned subsidiary while Magna CEO Adam Kelly remains an operator and significant investor. The deal (terms undisclosed) is financed by KeyBank and expands Creedence’s production-chemicals footprint in New Mexico (including a new Carlsbad facility), broadening geographic reach and technical capabilities across the Permian and San Juan basins.

CCS Facility Services, a portfolio company of Silver Oak Services Partners, has acquired Albuquerque-based Sparkle Maintenance, Inc., expanding CCS’s footprint into New Mexico. The family-run Sparkle will join CCS’s integrated facilities platform to build scale across education, healthcare, commercial real estate and other end markets while preserving jobs and customer relationships.

Ivanti acquired RiskSense to integrate risk-based vulnerability prioritization and remediation into its Ivanti Neurons for Patch Intelligence product, strengthening patch management and ransomware defenses. The acquisition brings RiskSense's vulnerability intelligence and risk scoring into Ivanti's automation platform to help customers prioritize and remediate the most critical, actively exploited vulnerabilities.

Relevant Industrial (a portfolio company backed by LKCM Headwater Investments) has acquired 505 Industrial Supply, a regional industrial supplies distributor based in Albuquerque, New Mexico. The add-on expands Relevant’s MRO and industrial-supply footprint in the Southwest and augments its distribution capabilities and local customer coverage.

Arlington Capital Partners' portfolio company BlueHalo has acquired Design & Development Engineering Services Corporation (DDES), a space-qualified electronics designer and manufacturer based in Albuquerque, New Mexico. The add-on expands BlueHalo's space hardware and manufacturing capabilities, strengthening its ability to deliver radiation-hardened, high-reliability systems for national security and military space missions.

Fort Worth-based Jet Health, Inc., a regional home health and hospice operator, has acquired Albuquerque-based Hospice de la Luz. The deal — Jet Health's third hospice-related acquisition and funded by SV Health Investors and Health Enterprise Partners — expands Jet Health's hospice capabilities and continuity of care in the Albuquerque market; terms were not disclosed.

Growth Catalyst Partners (GCP), a Chicago-based middle market private equity firm, has acquired The Equine Network in a corporate carve-out from Active Interest Media. GCP will partner with Equine Network's management (Tom Winsor as President & CEO and Andy Clurman as Executive Chairman) to invest in organic growth and M&A to expand the company's sports, information, and tech-enabled services for the global equine industry.

BayoTech received an equity investment of up to $157 million led by growth equity firm Newlight Partners, with participation from Cottonwood Technology Fund, Sun Mountain Capital and Fortistar. The capital will accelerate BayoTech’s product and project development and infrastructure expansion for its on‑site hydrogen generation and Gas‑as‑a‑Service offerings.

Redwire has acquired LoadPath, a New Mexico–based developer of payload adapters, deployable structures, and thermal products for launch vehicles and satellites; terms were not disclosed. The LoadPath founders will join Redwire as the deal expands Redwire’s space infrastructure and payload accommodation capabilities; the acquisition is an add-on to the PE‑backed Redwire platform formed with support from AE Industrial Partners.