Tracked deals
14
14 tracked deals across 2023.
Acquisitions in Montana in 2023
Buyer mix
Strategic-led
14 strategic · 3 investor
Top trend
Volume peaked in 2022
21 tracked deals announced in 2022.
Buyer Snapshot
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 organization for Summit Companies' busines... | Investor |
| Summit Fire & Security LLC | 3 | Provider of fire protection, security and life-safety sol... | Strategic |
| Hub International Limited | 2 | Leading full-service global insurance brokerage and finan... | Strategic |
| Bridger Aerospace Group Holdings, Inc. | 1 | A nationally focused aerial firefighting and wildfire man... | Strategic |
| Camping World Holdings, Inc. | 1 | RV retailer and related products/services operating Campi... | Strategic |
| Evermore Partners | 1 | Commercial real estate investment firm investing capital ... | PE |
| Hub Mountain | 1 | Regional division of Hub International focused on serving... | Strategic |
| Iwatani Corporation of America | 1 | U.S. subsidiary of Iwatani Corporation (Tokyo-listed) ope... | Strategic |
| L Squared Capital Partners | 1 | Middle-market investment firm focused on growth investmen... | PE |
| New Castle Hotels & Resorts | 1 | Privately held hotel owner, developer and operator managi... | Strategic |
Acquisition Volume in in Montana in 2023 by Year
Last 9 years
Actual
Full-year estimate
Supporting Data
Recent Transactions
-
October 26, 2023
- Buyer
- Summit Fire & Security LLC, SFP Holding, Inc. (Summit Companies)
- Target
- Mountain Fire Protection, Inc.
- Seller
- Michael Georgeson, Benjamin Georgeson
- Industry
- HVAC & Mechanical
- Location
- Montana, United States
- Type
- Buyout
Summit Fire & Security LLC, a subsidiary of SFP Holding, Inc. (Summit Companies), has acquired Mountain Fire Protection, Inc., effective October 26, 2023. The acquisition brings Mountain Fire Protection's fire sprinkler design, installation and inspection capabilities and employees in Columbus, Montana into Summit's Billings, MT team to expand Summit's fire protection footprint and service offering in the region.
-
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.
-
September 14, 2023
- Buyer
- Bridger Aerospace Group Holdings, Inc.
- Target
- Ignis Technologies Inc.
- Industry
- Software
- Location
- Montana, United States
- Type
- Buyout
Bridger Aerospace Group Holdings, Inc. (NASDAQ: BAER) has acquired Ignis Technologies Inc. for $3.0 million plus up to $9.0 million in contingent restricted stock consideration tied to milestones and integration. The acquisition adds Ignis’s mobile and web wildfire intelligence platform to Bridger’s FireTrac and other fire-intelligence SaaS capabilities to expand the company’s firefighting situational-awareness technology offering.
-
August 2, 2023
- Buyer
- ikeGPS (IKE)
- Target
- Marne and Associates, Inc.
- Seller
- Marne and Associates, Inc.
- Industry
- Education
- Location
- Montana, United States
- Type
- Divestiture
ikeGPS (IKE) has acquired the training assets of Marne and Associates, Inc., bringing NESC and OSHA training capabilities and expertise into IKE's offering. David J. Marne will continue to lead the training programs through 2023 as IKE integrates the safety-code training into its suite of grid infrastructure products and services.
-
- Buyer
- TransMedics Group, Inc.
- Target
- Summit Aviation
- Industry
- Transportation
- Location
- Montana, United States
- Type
- Buyout
TransMedics Group, Inc. has signed a definitive agreement (and subsequently completed) to acquire Summit Aviation, a U.S. charter flight operator, to establish TransMedics Aviation and provide dedicated air logistics for organ transplantation. The acquisition brings Summit's charter expertise and team (founder Ben Walton to join TransMedics as VP of Aviation Services) to support TransMedics' National OCS Program and expand its organ transport capabilities nationwide.
-
- Buyer
- Par Pacific Holdings, Inc.
- Target
- ExxonMobil Billings refinery and Upper Rockies logistics system
- Seller
- ExxonMobil Corporation, Two of its subsidiaries
- Industry
- Oil & Gas
- Location
- Montana, United States
- Type
- Buyout
Par Pacific Holdings completed the acquisition of ExxonMobil's Billings refinery and related Upper Rockies marketing and logistics assets for a base purchase price of $310 million, closing June 1, 2023. The assets include the 63,000 bpd Billings refinery, a 65% interest in an adjacent cogeneration facility, multiple pipelines and terminals (including the Silvertip and an interest in the Yellowstone pipeline), and supply arrangements for ~250 Exxon/Mobil-branded retail locations.
-
- Buyer
- Camping World Holdings, Inc.
- Target
- I-90 RV
- Industry
- Retail
- Location
- Montana, United States
- Type
- Buyout
Camping World Holdings, Inc. announced it intends to acquire I-90 RV in Billings, Montana, with an anticipated close in the third quarter of 2023. The acquisition is expected to support Camping World’s expansion into Montana as it completes construction of a new Montana SuperCenter.
-
- 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).
-
- Buyer
- Hub International Limited
- Target
- Hobson Insurance (Cherokee Capital, Inc., d/b/a Hobson Insurance)
- Seller
- Cherokee Capital, Inc. (d/b/a Hobson Insurance)
- Industry
- Insurance
- Location
- Montana, United States
- Type
- Buyout
Hub International Limited acquired the assets of Cherokee Capital, Inc., d/b/a Hobson Insurance, a full-service independent agency based in Hobson, Montana. The Hobson team, led by co-owners Kristy Longfellow and Misty Kriskovich, will join Hub Mountain to expand Hub's commercial and personal insurance capabilities in the region; terms were not disclosed.
-
- Buyer
- Evermore Partners, New Castle Hotels & Resorts
- Target
- AC Hotel by Marriott (Missoula), Residence Inn by Marriott (Missoula), The Mercantile (Missoula retail)
- Industry
- Real Estate
- Location
- Montana, United States
- Type
- Buyout
Denver-based Evermore Partners and Ridgefield-based New Castle Hotels & Resorts acquired the Montana Marriott Portfolio in downtown Missoula, Montana, comprising a 105-key AC Hotel by Marriott, a 175-key Residence Inn by Marriott, and The Mercantile (approx. 20,000 sq. ft. of retail). The co-sponsors said the acquisition expands their presence in the Rocky Mountain region and broadens New Castle's management platform to the West.
-
- Buyer
- Hub International Limited, Hub Mountain (Hub division)
- Target
- Glacier Insurance of Libby, Inc.
- Seller
- Glacier Insurance of Libby, Inc. (owners Kevin Peck and Kim Peck)
- Industry
- Insurance
- Location
- Montana, United States
- Type
- Addon
Hub International Limited acquired the assets of Glacier Insurance of Libby, Inc., a full-service independent insurance agency based in Libby, Montana. The Glacier Insurance team, led by owners Kevin and Kim Peck, will join Hub Mountain to expand Hub’s commercial and personal insurance capabilities in the Mountain region; terms were not disclosed.
-
- Buyer
- L Squared Capital Partners
- Target
- Foundant Technologies
- Industry
- Cloud & SaaS
- Location
- Montana, United States
- Type
- Growth capital
L Squared Capital Partners has made a growth investment in Foundant Technologies, a Bozeman-based provider of mission-critical SaaS for the philanthropic sector. The investment will support Foundant's platform expansion and growth, with co-founders Mark Larimer and Daren Nordhagen joining the company's board.
-
February 2, 2023
- Buyer
- Pye-Barker Fire & Safety
- Target
- IT&M Division Inc.
- Seller
- Briceno family (owners of IT&M Division; Kevin Briceno, President, mentioned)
- Industry
- HVAC & Mechanical
- Location
- Montana, United States
- Type
- Buyout
Pye-Barker Fire & Safety has acquired IT&M Division Inc., a Helena, Montana-based fire sprinkler services company. The acquisition enables Pye-Barker to add sprinkler testing, maintenance and installation capabilities in Montana and expand its integrated life safety service offering to commercial and multi-family residential customers in the region.
-
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.
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