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Deal Flow: Annual report shows billions moving through Idaho’s economy

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The annual Idaho Deal Flow report hit the streets Wednesday morning at the annual Capital Connect conference in Boise. The report, presented by Alturas Capital and Holland and Hart, details the dollars flowing through Idaho companies big and small.

The 2018 report looks at public listings, private placements and mergers and acquisitions. It provides data and information on more than 136 companies – from A7 Core to Ziggie, Inc.

“In 2018, Idaho was recognized as the fastest growing state in the country” Blake Hansen with Alturas and Alison Johnson with Holland & Hart wrote. “Idaho’s businesses are receiving increased attention and investment dollars from capital providers within the state and from around the country. More venture capital, private equity, and angel funds are coming to Idaho to find new investment opportunities in Idaho companies.”

(Disclosure: Holland & Hart is a BoiseDev sponsor, but is not involved with the selection or production of this story).

“There’s an additional segment of deals we just don’t know about,” Hansen said during the Capital Connect event. “I promise you there are more deals we can’t capture.”

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He said there is likely billions in activity beyond what the Deal Flow report can capture.

Big numbers

Courtesy Idaho Deal Flow report

The report outlines 163 deals – with the dollar amounts attached to many of them. That’s up from 147 deals the prior year – and the second-highest since tracking began in 2010.

Ninety-two of the deals came from private placement, an investment made off of the public markets. Seventy deals fall into the category of mergers & acquisitions. A single deal, from PetIQ, came through public placement.

The total dollar volume of deals with price tags attached hit $1.73 billion in 2018, down from $2.4 billion in 2017. While the total reported volume dropped, the 2017 number popped due to Micron Technology’s retirement of $1.19 billion in stock. Because many deals keep the financials private, the Idaho Deal Flow report only looks at sources for which it can obtain publicly or via reports from those involved.

Sectors & geography

Tech and software drove the most activity in terms of volume, with 24% of all dollars attached. Consumer/retail and materials/resources followed with 20% each.

Courtesy Idaho Deal Flow report

As you might expect, the highest number of deals came from Ada County. $1.356 billion of the volume flowed through Ada Co. companies – or nearly 78% of the reported total.

But business deals are happening all around Idaho according to the report. In terms of number of deals, Ada County’s 81 accounted for just less than half of the totals.

Thirty deals happened to companies based in Kootenai County – the area around Coeur d’Alene in North Idaho. Nine deals happened in Bonneville County around Pocatello. Another eight originated in Blaine County near Sun Valley.

Don Day
Don is the founder and editor of BoiseDev. He is a National Edward R. Murrow Award winner and a Stanford University John S. Knight Fellow.

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