Q3 2022
IDAHO DEAL FLOW REPORT
Photo by Jason Schuller.
A COLLABORATIVE REPORT PRESENTED BY:
WELCOME
We are pleased to present the Q3 2022 Idaho Deal Flow Report, the third quarterly report of 2022. Q3 closed with 22 deals: $67.5 million in disclosed M&A deals and $127 million in Private Placement deals.
We are excited to introduce the College of Idaho as a new collaborator. Students in the Private Market Finance course assisted in providing deal flow analysis for this quarter’s report, and we look forward to working with them on future quarterly and annual Deal Flow Reports.
M&A Deals
Northwest Specialty Hospital was acquired by Hammes Partners, an investment firm focused on healthcare real estate. The hospital, a small surgical multispecialty facility, was acquired for $67.5 million, making it the largest deal of the quarter. The hospital has not publicly announced any material changes to the operations of the business.
The Services industry had 7 out of 13 M&A deals. The acquired companies include a wide range of competencies: commercial utilities, medical, transportation, and automobile services. While this could be considered an uptick in Services deals, there doesn’t seem to be a meaningful trend that would provide insights.
Private Placement Deals
This quarter’s largest private placement deal was MAD Energy‘s $98 million raise. MAD Energy is a “clean energy infrastructure developer and technology incubator”. The incubator focuses on competencies like liquid natural gas, hydrogen energy, and other alternative energy technologies.
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 Q3 2022 Deal Flow Report!
Did we miss anything?
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
| wdt_ID | Company | City | Region | County | Company Description | Headcount | Founded | Industry | Executive Leader | Date | Amount | Amount Internal | Type | Stage | M&A Type | Investor(s)/Acquired by |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Magic Electric, Plumbing, Heating + Air | Eagle | South Central | Jerome | Provider of electrical, plumbing, heating and air conditioning services intended for home services to the Magic Valley and Treasure Valley areas. | 100 | 2013 | Services | Billy Salts | 07/01/2022 | Undisclosed | M&A | Strategic | Any Hour Services, Knox Lane, PennantPark Floating Rate Capital BDC | ||
| 2 | Decked | Post Falls | South Central | Blaine | Manufacturer of full-length drawers intended for use in truck beds and vans. | 47 | 2013 | Consumer/Retail | Britt Domer | 07/05/2022 | $10,700,000 | 10,700,000 | Private Placement | Growth Equity | ||
| 3 | Smart HR | Twin Falls | South Central | Twin Falls | Provider of human resource management service platform catering to Idaho, Oregon, Tennessee, and Washington states. | 2019 | Technology /Software | Byron McCurdy | 07/06/2022 | Undisclosed | 0 | M&A | Strategic | PassioHR | ||
| 4 | Kompliant | Ketchum | Southwestern | Ada | Developer of an online platform designed to make it simpler than ever to configure, deploy, and manage credit risk programs. | 20 | 2020 | Technology /Software | Edward Katzin | 07/06/2022 | $14,000,000 | 14,000,000 | Private Placement | Seed/Angel | John Partridge, Level One Fund, Stuart Sopp | |
| 5 | MAD Energy | Meridian | Northern | Bonner | Provider of environmental services intended to build and operate clean energy projects in a growing ecosystem, including both transitional and next-generation technologies. | 4 | 2020 | Services | George Wentz | 07/07/2022 | $98,260,000 | 98,260,000 | Private Placement | Seed/Angel | ||
| 6 | Super T Transport | Eagle | Eastern | Bonneville | Provider of transportation services intended to serve the logistics industry in and around United States. | 300 | 2009 | Services | Heath Treasure | 07/11/2022 | Undisclosed | 0 | M&A | Strategic | Berger Logistik | |
| 7 | Cauze | Hayden Lake | Southwestern | Ada | Developer of an online donation platform designed to allow individuals to donate to any public charity. | 15 | 2017 | Financial Services | Jason Hausske | 07/14/2022 | $1,270,000 | 1,270,000 | Private Placement | Seed/Angel | ImpactAssets | |
| 8 | XCraft | Idaho Falls | Northern | Kootenai | Manufacturer of autonomous aerial vehicles designed to map and collect data from large areas. | 8 | 2013 | Technology /Software | Jerry Claridge | 07/29/2022 | $148,195 | 148,195 | Private Placement | Seed/Angel | StartEngine | |
| 9 | Cognigenics | Boise | Southwestern | Ada | Provider of cognitive neuroengineering to transform mental health. | 2 | 2019 | Healthcare | John L. Mee | 08/01/2022 | $1,588,889 | 1,588,889 | Private Placement | |||
| 10 | LeanLaw | Boise | Southwestern | Ada | Developer of a cloud-based financial operating system designed to integrate the timekeeping and billing workflow. | 19 | 2015 | Financial Services | Jonathon Fishman | 08/02/2022 | $250,000 | 250,000 | Private Placement | Growth Equity | Capital Eleven | |
| 11 | Snacktivist Foods | Twin Falls | Northern | Kootenai | Operator of a handcrafted dry-mixes company intended to offer high-quality foods. | 6 | 2015 | Consumer/Retail | Joni Kindwall-Moore | 08/17/2022 | $515,000 | 515,000 | Private Placement | Seed/Angel | Kennebago Food Ventures, Prota Ventures | |
| 12 | Element Heating & Cooling | Post Falls | South Central | Twin Falls | Supplier of heating, ventilation and air conditioning (HVAC)products intended to serve both residential and commercial clients. | 2009 | Consumer/Retail | Justin Bohrn | 08/18/2022 | Undisclosed | M&A | Financial | The Seer Group | |||
| 13 | Kyani | Sandpoint | Eastern | Bonneville | Operator of a healthcare product company intended to provide healthcare and wellness product. | 3000 | 2006 | Consumer/Retail | Katy Holt-Larsen | 08/29/2022 | Undisclosed | M&A | Strategic | Amare Global | ||
| 14 | Master Plumbing | Idaho Falls | Southwestern | Ada | Provider of plumbing and liquid waste hauling services intended to serve homeowners and businesses. | 1948 | Services | Lance Rackham | 09/07/2022 | Undisclosed | Private Placement | Growth Equity | Bestige Holdings | |||
| 15 | Futura Title & Escrow | Jerome | Southwestern | Ada | Provider of title and escrow services intended for residential and commercial clients. | 700 | 1980 | Financial Services | Larry Matney JD | 09/12/2022 | Undisclosed | M&A | Financial | JM Family Enterprises | ||
| 16 | Treasure Valley Collision Center | Twin Falls | Southwestern | Ada | Provider of automotive collision repair services based in Boise, Idaho. | 2005 | Services | Mike Barber | 09/12/2022 | Undisclosed | M&A | Strategic | A&M Capital, Clearlake Capital Group, Crash Champions | |||
| 17 | Agency Software | Coeur d’Alene | Northern | Kootenai | Developer of insurance software systems intended to increase overall penetration of personal and commercial lines markets. | 22 | 1988 | Technology /Software | Mitch Mcinelly | 09/13/2022 | Undisclosed | M&A | Strategic | Harris Computer | ||
| 18 | Syringa Landscape | Boise | Southwestern | Ada | Provider of commercial landscaping services based in Eagle, Idaho. | 2008 | Services | Rick Prescott | 09/15/2022 | Undisclosed | M&A | Strategic | BrightView Landscapes | |||
| 19 | Northwest Specialty Hospital | Boise | Northern | Kootenai | Operator of a healthcare organization committed to providing healthcare services to all in a caring, compassionate and professional environment. | 450 | 2002 | Services | Rick Rasmussen | 09/20/2022 | $67,500,000 | 67,500,000 | M&A | Financial | Hammes Partners | |
| 28 | United Oil (Distributors) | Meridian | South Central | Twin Falls | Distributor of petroleum fuels and lubricants intended to serve retail locations, agriculture, warehouses, commercial fueling networks and intrastate transport. | 89 | 1939 | Materials & Resources | Robert Franklin | 09/21/2022 | Undisclosed | M&A | Strategic | Christensen | ||
| 29 | EMT & Fire Training | Boise | Northern | Kootenai | Provider of emergency medical services and firefighting educational programs intended to serve emergency medical technicians and firefighters. | 2009 | Services | Travis Holycross | 09/29/2022 | Undisclosed | M&A | Strategic | KnowFully Learning Group, NexPhase Capital | |||
| 30 | T-O Engineers | Coeur d’Alene | Southwestern | Ada | Operator of full-service civil engineering firm focused on infrastructure market. | 200 | 1984 | Services | William Russell | 08/16/2022 | Undisclosed | M&A | Strategic | Ardurra Group, Envoy Management, Kain Capital, Pine Street Capital Partners, RTC Partners | ||
| Company | City | Region | County | Company Description | Headcount | Founded | Industry | Executive Leader | Date | Amount | Amount Internal | Type | Stage | M&A Type | Investor(s)/Acquired by |
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