Acquisitions in Minnesota in 2026
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March 19, 2026
- Buyer
- Sterling Investment Partners
- Target
- Cyber Advisors
- Industry
- Cybersecurity
- Location
- Minnesota, United States
- Type
- Buyout
Sterling Investment Partners announced the acquisition of Cyber Advisors, a provider of cybersecurity and managed IT services. Cyber Advisors, headquartered in Maple Grove, Minnesota, supports 1,800+ customers nationwide with 330+ professionals.
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March 12, 2026
- Buyer
- Dynamic Access
- Target
- PICC Stat
- Industry
- Healthcare Services
- Location
- Minnesota, United States
- Type
- Buyout
Dynamic Access, a Dallas-based provider of on-demand vascular access services, acquired Minneapolis-based PICC Stat. The deal expands Dynamic Access into Minnesota and is expected to integrate PICC Stat’s clinical team and operational resources to strengthen vascular access solutions across the state.
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February 26, 2026
- Buyer
- Kava Equity Partners, Southern Ute Indian Tribe Growth Fund
- Target
- The Berg Group
- Industry
- Construction
- Location
- Minnesota, United States
- Type
- Buyout
Kava Equity Partners, the direct private equity investment arm of the Southern Ute Indian Tribe Growth Fund, has acquired The Berg Group, a Minnesota-based specialty contractor focused on industrialized construction, prefabrication and modular systems. The Berg will retain its existing management team and operate with added resources from Kava and the Southern Ute Indian Tribe Growth Fund to expand nationwide capabilities in high-performance environments such as data centers, cleanrooms and advanced manufacturing facilities.
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February 26, 2026
- Buyer
- Tonka Bay Equity Partners LLC
- Target
- CAMP Digital
- Industry
- Marketing & Advertising
- Location
- Minnesota, United States
- Type
- Growth capital
Tonka Bay Equity Partners LLC made a strategic investment in CAMP Digital, a tech-enabled marketing platform for the home services industry. The funding is intended to fuel CAMP’s next phase of aggressive expansion while maintaining founder-led operational continuity.
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February 23, 2026
- Buyer
- Arctic Wolf Networks, Inc.
- Target
- Sevco Security
- Industry
- Cybersecurity
- Location
- Minnesota, United States
- Type
- Buyout
Arctic Wolf announced it has acquired Sevco Security, an exposure assessment platform company. Sevco’s cloud-native technology will be integrated into the Arctic Wolf Aurora Platform to unify asset intelligence, vulnerability context, and security control coverage for continuous exposure identification and prioritization across hybrid environments.
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February 19, 2026
- Buyer
- United Aesthetics Alliance
- Target
- LivSkin MedSpa | Laser
- Industry
- Healthcare Services
- Location
- Minnesota, United States
- Type
- Addon
United Aesthetics Alliance (UAA), a platform of plastic surgery practices and medspa brands, has partnered with/acquired LivSkin MedSpa | Laser, a Minneapolis-area medical spa with locations in Minnetonka and Excelsior. The deal expands UAA's non-surgical aesthetics capabilities and strengthens its presence in the Minneapolis–St. Paul market.
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February 19, 2026
- Buyer
- Podean, Mountaingate Capital
- Target
- Ad Advance
- Seller
- Permanent Equity
- Industry
- Marketing & Advertising
- Location
- Minnesota, United States
- Type
- Addon
Marketplace-focused agency Podean has acquired Ad Advance, a Duluth, Minnesota–based retail media agency, from Permanent Equity. The deal—facilitated by Podean's private equity partner Mountaingate Capital—adds Ad Advance’s Streamline technology and retail-media/DSP capabilities to Podean’s global marketplaces platform and was announced as creating a combined business with ~260 staff across 17 countries.
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February 19, 2026
- Buyer
- Vanguard Renewables
- Target
- E-Z Recycling
- Seller
- Andy Rausch
- Industry
- Environmental Services
- Location
- Minnesota, United States
- Type
- Addon
Vanguard Renewables acquired E-Z Recycling, a St. Paul, Minnesota food and beverage waste depackaging and recycling facility, to expand its Midwest organics recycling network. The deal adds depackaging capabilities and increases processing capacity that will feed Vanguard’s anaerobic digestion and renewable natural gas (RNG) operations.
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Justin Nihiser, Barry Gibson, and Matt Rogers Acquire WonderPlay Brands (Parent of Kidcreate Studio)February 19, 2026
- Buyer
- Justin Nihiser, Barry Gibson, Matt Rogers
- Target
- WonderPlay Brands
- Industry
- Education
- Location
- Minnesota, United States
- Type
- Buyout
Justin Nihiser, Barry Gibson, and Matt Rogers have announced a majority acquisition of WonderPlay Brands, the parent company of Kidcreate Studio, a youth enrichment franchise focused on art, creativity, play, and childhood development. The new ownership group says it will retain existing curriculum and studio leadership while enhancing shared services, marketing systems, and franchise development strategy to accelerate U.S. growth.
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- Buyer
- Life-Science Innovations (LSI)
- Target
- Hormel Foods whole-bird turkey business
- Seller
- Hormel Foods Corporation
- Industry
- Food & Beverage
- Location
- Minnesota, United States
- Type
- Divestiture
Hormel Foods has entered into a definitive agreement to sell its whole-bird turkey business to Life-Science Innovations (LSI). The transaction includes assets such as the Melrose, Minnesota whole-bird production facility and the Swanville, Minnesota feed mill, and is expected to close by the end of the second quarter of fiscal 2026, subject to customary conditions.
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February 13, 2026
- Buyer
- Carolwood LP
- Target
- Indian Motorcycle
- Seller
- Polaris Inc.
- Industry
- Automotive
- Location
- Minnesota, United States
- Type
- Divestiture
Polaris has completed the separation of Indian Motorcycle into a standalone business and sold a majority stake in the brand to Carolwood LP, an independent private equity firm based in Los Angeles. Financial terms were not disclosed; Polaris said the divestiture allows it to sharpen focus on core powersports businesses while Indian Motorcycle will operate independently under new majority ownership.
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February 10, 2026
- Buyer
- KPS Capital Partners, LP
- Target
- The Wells Companies, Inc.
- Industry
- Industrial Services
- Location
- Minnesota, United States
- Type
- Buyout
KPS Capital Partners, LP has signed a definitive agreement through a newly formed affiliate to acquire The Wells Companies, Inc. Financial terms were not disclosed. The transaction is expected to close in the first quarter of 2026, subject to customary closing conditions and approvals.
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February 6, 2026
- Buyer
- Refresco
- Target
- SunOpta Inc.
- Industry
- IT Services
- Location
- Minnesota, United States
- Type
- Buyout
Refresco entered into a definitive agreement to acquire SunOpta in an all-cash transaction valued at $6.50 per share. The deal is expected to close in the second quarter of 2026, subject to customary conditions including court and regulatory approvals and SunOpta shareholder approval.
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February 2, 2026
- Buyer
- OnePoint BFG Wealth Partners, Rise Growth Partners
- Target
- Voyage Wealth Architects
- Industry
- Wealth Management
- Location
- Minnesota, United States
- Type
- Addon
OnePoint BFG Wealth Partners has acquired Minneapolis-based Voyage Wealth Architects, a wealth management firm overseeing $700 million in AUM. The deal, supported by strategic capital partner Rise Growth Partners, expands OnePoint BFG's planning-led platform, broadens its Midwest presence and will transition Voyage to the OnePoint BFG brand over time.
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January 30, 2026
- Buyer
- Francisco Partners
- Target
- Jamf
- Seller
- Jamf stockholders (voted to approve the transaction), Vista Equity Partners
- Industry
- Software
- Location
- Minnesota, United States
- Type
- Buyout
Francisco Partners (FP) completed the take-private acquisition of Jamf in an all-cash deal valued at approximately $2.2 billion, paying $13.05 per share. Jamf shareholders approved the transaction on January 8, 2026, and Jamf’s shares were delisted from NASDAQ upon close so the company can operate as a privately held business.
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January 29, 2026
- Buyer
- LevelBlue
- Target
- Alert Logic (managed services business)
- Seller
- Fortra, Alert Logic
- Industry
- Cybersecurity
- Location
- Minnesota, United States
- Type
- Divestiture
LevelBlue has acquired Fortra’s Alert Logic managed services business—covering Alert Logic’s MDR, XDR, and WAF managed services—under a broader long-term strategic partnership that makes Fortra a leading technology partner for LevelBlue. The deal expands LevelBlue’s global managed detection and response platform and provides Alert Logic customers access to a larger global footprint and broader threat telemetry; Santander and Stephens served as financial advisors to LevelBlue and Fortra/Alert Logic, respectively.
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- Buyer
- Stacker Holdings, LLC, Halifax West
- Target
- Advanced Irrigation, LLC, Advanced Irrigation, Inc.
- Industry
- Industrial Services
- Location
- Minnesota, United States
- Type
- Buyout
Halifax West provided capital advisory services and led the debt-market process, while also making a minority co-investment alongside Stacker Holdings in its acquisition of Advanced Irrigation. The investment adds capital and support to expand Advanced Irrigation’s year-round maintenance offerings and selectively grow its footprint across the Minneapolis–St. Paul metro area.
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January 27, 2026
- Buyer
- Resonetics
- Target
- Resolution Medical
- Seller
- Arcline Investment Management
- Industry
- Healthcare Services
- Location
- Minnesota, United States
- Type
- Buyout
Resonetics has signed an agreement to acquire Resolution Medical, a provider of integrated design and manufacturing solutions for complex medical devices. The deal is expected to close in 2026, subject to regulatory approvals and customary closing conditions, and will expand Resonetics’ capabilities in neuromodulation and structural heart markets.
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January 26, 2026
- Buyer
- IonQ
- Target
- SkyWater Technology
- Industry
- IT Services
- Location
- Minnesota, United States
- Type
- Buyout
IonQ and SkyWater Technology entered into a definitive agreement for IonQ to acquire SkyWater in a cash-and-stock transaction valuing SkyWater at approximately $1.8 billion in equity. The deal is intended to create a vertically integrated, full-stack quantum platform, with SkyWater to operate as a wholly owned subsidiary under its name and leadership.
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- Buyer
- Ridgeline Roofing & Restoration, Bertram Capital
- Target
- Bold North Roofing and Contracting LLC
- Seller
- Erik McLaughlin, Ryan Emmerich
- Industry
- Construction
- Location
- Minnesota, United States
- Type
- Addon
Ridgeline Roofing & Restoration, a Bertram Capital-backed roofing platform, has acquired Bold North Roofing and Contracting, a roofing and exterior services provider serving the Twin Cities and western Wisconsin. The add-on expands Ridgeline's Midwest footprint; founders Erik McLaughlin and Ryan Emmerich will continue to lead Bold North and are reinvesting in the platform. Financial terms were not disclosed.
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January 23, 2026
- Buyer
- Tide Rock
- Target
- Analog Technologies
- Industry
- Manufacturing
- Location
- Minnesota, United States
- Type
- Addon
Tide Rock, an unlevered buyout firm, acquired Analog Technologies, a Burnsville, Minnesota-based electronic manufacturing services (EMS) provider. The deal is an add-on to Tide Rock's EMS platform (working alongside portfolio company Pro-Active Engineering) and expands the platform's PCBA, high-performance interconnect and A&D-certified capabilities.
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January 13, 2026
- Buyer
- Charter Impact
- Target
- EdFinMN
- Industry
- Education
- Location
- Minnesota, United States
- Type
- Addon
Charter Impact, a national provider of back-office financial and operational services for charter schools, has acquired EdFinMN, a Minneapolis-based school finance and back-office firm. The deal brings EdFinMN’s local team and client relationships into Charter Impact’s platform to expand capacity, technology, and service offerings for Minnesota charter schools as part of Charter Impact’s national expansion strategy.
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January 13, 2026
- Buyer
- Point Wild
- Target
- Juraspring
- Industry
- Legal Services
- Location
- Minnesota, United States
- Type
- Buyout
Point Wild, a cybersecurity and security-services portfolio, has acquired Juraspring, a mass tort lien resolution firm, to expand its legal services capabilities alongside existing units CyEx and Simpluris. The deal adds healthcare lien resolution and settlement-consulting expertise to Point Wild’s offerings, enabling more end-to-end support for law firms managing complex mass tort and class action settlement programs.
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January 12, 2026
- Buyer
- SalesRabbit
- Target
- Roofle
- Industry
- Software
- Location
- Minnesota, United States
- Type
- Buyout
SalesRabbit has acquired Roofle to integrate online buying and e-commerce capabilities with its field sales and production workflow tools for roofing and home-improvement contractors. The move combines Roofle's instant pricing, digital proposals, and checkout experience with SalesRabbit's territory management, lead tracking, and production handoff tools to support the full contractor customer journey; financial terms were not disclosed.
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January 12, 2026
- Buyer
- Carson Group
- Target
- Carson Wealth (Minneapolis office)
- Seller
- Minneapolis Carson Wealth practice (Jeremy Willner; co-leads Hayden Willner and Grant Fuchs)
- Industry
- Wealth Management
- Location
- Minnesota, United States
- Type
- Buyout
Carson Group has fully acquired its Carson Wealth practice in Minneapolis, buying the remaining ownership stake in the office led by Jeremy Willner. The deal (financial terms undisclosed) brings approximately $395 million in advisory and brokerage assets under Carson’s full ownership and is intended to support continuity, succession planning and accelerated growth in the Twin Cities market.
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January 12, 2026
- Buyer
- U.S. Bancorp
- Target
- BTIG, LLC
- Industry
- Financial Services
- Location
- Minnesota, United States
- Type
- Addon
U.S. Bancorp signed a definitive agreement to acquire BTIG, a privately held investment bank and brokerage firm, in a bolt-on transaction valued at up to $1 billion. The deal is expected to close in the second quarter of 2026, subject to regulatory approvals and customary closing conditions, and is designed to broaden U.S. Bank’s markets-based capabilities and support institutional and corporate clients.
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January 8, 2026
- Buyer
- DwyerOmega, Arcline Investment Management
- Target
- Burns Engineering
- Seller
- Jim Burns, JD Burns
- Industry
- Manufacturing
- Location
- Minnesota, United States
- Type
- Addon
DwyerOmega, a portfolio company of Arcline Investment Management, has acquired Burns Engineering to expand its precision temperature measurement product offering. Burns Engineering, founded in 1965 and based in Eden Prairie, Minnesota, provides metrology-grade temperature measurement devices for end markets including biopharma, food processing, and calibration laboratories; financial terms were not disclosed.
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January 6, 2026
- Buyer
- Versatrim
- Target
- Artistic Finishes
- Industry
- Building Products
- Location
- Minnesota, United States
- Type
- Buyout
Versatrim, a Henderson, North Carolina-based manufacturer of floor moldings and stair solutions, has acquired Artistic Finishes, a Roseville, Minnesota-based maker of solid wood moldings, stair treads and advanced finishing technologies. The acquisition combines Versatrim's manufacturing scale with Artistic Finishes' craftsmanship to create an integrated, end-to-end portfolio of moldings, stair solutions and flooring accessories for residential and commercial markets across North America.
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January 5, 2026
- Buyer
- Trinity Logistics
- Target
- Granite Logistics
- Seller
- Jeff Smiens, Pat Lynch
- Industry
- Logistics & Distribution
- Location
- Minnesota, United States
- Type
- Buyout
Trinity Logistics has completed the full acquisition of Granite Logistics, bringing the longtime freight agent partner into its organization and adding two Regional Service Centers in Sartell and Minneapolis, Minnesota. The deal brings approximately 135 team members into Trinity and expands its specialized capabilities in flatbed, over-dimensional, and heavy-haul freight across the Upper Midwest.
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January 2, 2026
- Buyer
- Astec Industries, Inc.
- Target
- CWMF, LLC
- Industry
- Manufacturing
- Location
- Minnesota, United States
- Type
- Buyout
Astec Industries, Inc. completed the acquisition of CWMF, LLC for $67.5 million in cash, adding roughly $50 million of annual revenue to Astec's Infrastructure Solutions segment. The purchase is expected to be EPS-accretive, improve gross profit and adjusted EBITDA margins, deliver synergies by the end of year one, and expand Astec's capacity and regional customer relationships in the Midwest, South-Central and Great Lakes regions.
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January 1, 2026
- Buyer
- CohnReznick
- Target
- Smith Schafer & Associates
- Industry
- Professional Services
- Location
- Minnesota, United States
- Type
- Buyout
CohnReznick acquired Minneapolis-based Smith Schafer & Associates effective January 1, 2026, marking the firm's entry into Minnesota and expanding its Midwest footprint. Smith Schafer brings three local offices, 12 partners and 89 employees, and expertise across professional services firms, construction, manufacturing, and transportation to strengthen CohnReznick's advisory, assurance, and tax capabilities.
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January 1, 2026
- Buyer
- Avkha Equity Holdings
- Target
- Dart Transit Company, Dart Express
- Seller
- Oren family
- Industry
- Trucking & Fleet
- Location
- Minnesota, United States
- Type
- Buyout
Avkha Equity Holdings, a San Francisco-based private investment firm, has acquired Minnesota-based Dart Transit Company (including Dart Express and related subsidiaries), ending 90 years of Oren family ownership. The transaction (effective Jan. 1) preserves the Dart brand and day-to-day operations while Avkha plans to expand service offerings — including additional lanes, intermodal solutions, and dedicated fleets — and installs a new CEO as part of the leadership transition.
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