Q1 2023
IDAHO DEAL FLOW REPORT
A COLLABORATIVE REPORT PRESENTED BY:
WELCOME
We are pleased to present the Q1 2023 Idaho Deal Flow Report, the first quarterly report of 2023. Q1 closed with 17 deals and a total of $10.28 million in deal flow.
M&A Deals
While Q1 had no disclosed deals, strategic acquisitions dominated the quarter. Companies from outside of Idaho expanded into the state via acquisition. Leavitt Group, based in Cedar City, Utah, acquired Alta Insurance Agency of Idaho Falls and Twin Falls. Elwood Staffing out of Columbus, Indiana acquired IES Custom Staffing out of Boise. SavaTree of Bedford Hills, New York acquired Boise Tree in Boise. Market penetration via acquisition is a common trend in high-growth markets, so we are not surprised to see this locally.
Private Placement Deals
This quarter’s largest private placement was LeanLaw’s $4 million Series A. LeanLaw has been featured in the Deal Flow Report in five previous reports. The company, which offers a financial operating system for law firms, was founded in Boise in 2015. You can read more about the company and its plans for this round of funding at the Built in Idaho blog.
We look forward to hearing from you—our collaborators—about other deals and additional details not yet included in this report.
If you know of additional details, please don’t hesitate to email Maggie Hyde at maggie@alturas.com.
Thank you for all your support and enjoy our Q1 2023 Deal Flow Report!
Special thanks to the Deal Flow Report team at the College of Idaho, led by Professor Seth Ruhter.
Jahona Akbarova
Dorian Hardin
Benjamin Hermes
Blake Murray
DEAL FLOW SNAPSHOT
TOTAL CAPITAL
TOTAL DEALS
M+A DEALS
DEAL FLOW DATA
Overview
Deals by Industry
Deals
Q1 2023
| wdt_ID | Company Name | City | Region | Founded | Industry | Executive Leader | Date | Amount | Amount Int | Deal Type | Investor(s)/Acquired by |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Kno2 | Boise | Southwestern | 2009 | Technology/Software | Ronald Stone | 01/03/2023 | Undisclosed | Private Placement | Health Enterprise Partners, Providence Ventures | |
| 2 | Haven Video | Caldwell | Southwestern | 2019 | Technology/Software | John Walker | 01/04/2023 | Undisclosed | Private Placement | Stand Woodward | |
| 3 | IES Custom Staffing | Boise | Southwestern | 2000 | Technology/Software | Christin Tippetts | 01/04/2023 | Undisclosed | M&A | Elwood Staffing | |
| 4 | C-A-L Ranch Stores | Idaho Falls | Eastern | 1959 | Consumer/Retail | Andy Furrows | 01/18/2023 | Undisclosed | Private Placement | Coastal Farm & Ranch | |
| 5 | Allied Seed | Nampa | Southwestern | 2000 | Materials and Resources | Kevin Osborne | 01/25/2023 | Undisclosed | M&A | Growmark | |
| 6 | Back Sage Technologies | Boise | Southwestern | 2014 | Technology/Software | Creighton Bowsher | 01/31/2023 | Undisclosed | M&A | Highlander Partners | |
| 7 | American Ostrich Farms | Kuna | Southwestern | 2013 | Consumer/Retail | Alexander McCoy | 02/14/2023 | $1,000,000 | 1,000,000 | Private Placement | Food System 6 Accelerator, ImpactAssets |
| 8 | Irish Metals | Coeur d’Alene | Northern | 2013 | Materials and Resources | Mike Irish | 02/23/2023 | Undisclosed | M&A | Sidney Resources | |
| 9 | Alta Insurance Agency | Twin Falls | Eastern | 2013 | Financial Services | 02/24/2023 | Undisclosed | M&A | Leavitt Group | ||
| 10 | Boise Tree | Boise | Southwestern | 2014 | Services | 02/28/2023 | Undisclosed | Private Placement | SavaTree | ||
| 11 | Dharma Dr. | Boise | Southwestern | 2022 | Consumer/Retail | Brad Mosell | 03/01/2023 | $200,000 | 200,000 | Private Placement | Boise Entrepreneur Week |
| 12 | Proud Source | Boise | Southwestern | 2015 | Consumer/Retail | Carl Pennington | 03/08/2023 | Undisclosed | M&A | SOURCE | |
| 13 | WestWater Research | Boise | Southwestern | 2001 | Services | Clay Landry | 03/09/2023 | Undisclosed | Private Placement | Aetos Capital | |
| 14 | LeanLaw | Boise | Southwestern | 2015 | Technology/Software | Gary Allen | 03/14/2023 | $4,000,000 | 4,000,000 | Private Placement | Capital Eleven, FINTOP Capital, Trolley Venture Partners |
| 15 | Nemo Arms | Nampa | Southwestern | 2011 | Technology/Software | Adyn Sonju | 03/22/2023 | $3,500,000 | 3,500,000 | Private Placement | |
| 16 | Fatbeam | Coeur d’Alene | Northern | 2010 | Technology/Software | Dusti Burmeister | 03/27/2023 | Undisclosed | Private Placement | Basalt Infrastructure Partners | |
| 17 | Venture Title & Escrow | Boise | Southwestern | 2022 | Financial Services | Kurt Gustavel | 03/27/2023 | $1,580,000 | 1,580,000 | Private Placement | |
| Company Name | City | Region | Founded | Industry | Executive Leader | Date | Amount | Amount Int | Deal Type | Investor(s)/Acquired by |
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