MWCN Report: Utah Deal Activity Rebounds in 2025, Setting Stage for Strong 2026

MWCN invites Utah business leaders to its May 21 Deal Flow event to hear 2025 report findings; Winners Circle Podcast episode drops the same day.

SALT LAKE CITRY, UT, UNITED STATES, May 18, 2026 /EINPresswire.com/ -- MountainWest Capital Network (MWCN) today announced the results of its annual Deal Flow Report, offering a comprehensive look at Utah’s capital markets activity in 2025 and what business leaders can expect in the next 12 months. MWCN will present the full detailed findings at its Deal Flow event on Thursday, May 21, 2026, where Utah’s top dealmakers, investors, and entrepreneurs will gather to hear directly from the market’s most active participants.

“2025 was a year that tested Utah’s resolve, and our market came through with its fundamentals intact,” said Jason Roberts, President of MWCN and Managing Director at Protiviti. “The data tells a compelling story—a cautious first half gave way to real momentum by year’s end, and the pipeline building right now points to a very active 2026.

Key Findings from the 2025 MWCN Deal Flow Report

Utah deal volume in 2025 matched levels last seen during the record-setting market of 2021, a remarkable result given the challenges of the year. A slow and uncertain first half—marked by international supply chain disruptions, tariff volatility, and interest rate instability—gave way to a decisive re-acceleration in the second half, as engagement letters surged and buyer meetings accelerated. Overall, Utah recorded 435 reported total deals in 2025, with disclosed deal value reaching $17.2 billion.

M&A activity totaled approximately 249 transactions representing roughly $11.74 billion in disclosed value. The largest deals were concentrated in premium, institutional-grade businesses—including Edifecs, Eco Material Technologies, Bridge Investment Group, SILAC, and Sizzling Platter. For the first time on record, deal volume in Utah County’s Lehi-Provo corridor reached a comparable level to Salt Lake County, reflecting the continued growth of Silicon Slopes as a deal-making hub.

At 39% of deal volume, Utah continues to lead with a robust technology sector, bolstered by companies that drive innovation and shape the industry’s landscape. Standout transactions include Cotiviti’s acquisition of Edifecs (~$3 billion), Filevine ($400 million), Angel Studio’s SPAC ($1.6 billion) demonstrating continued investor conviction in the state’s most scaled platforms. At the same time, a meaningful sector shift is underway: insurance, wealth management, dental services, food services, healthcare, and infrastructure are capturing an increasing share of private equity attention, with rollup activity in blue-collar and consumer service industries expanding significantly.

Private equity behavior in 2025 was shaped by one overriding theme: limited partners demanded capital back. This “DPI over IRR” dynamic drove sponsors to push assets to market, accelerate continuation vehicle (CV) formation, and favor derisked, cash-yielding assets. 2025 was widely described as the year continuation vehicles moved from niche to mainstream, with several Utah-connected CVs pricing at 13–14 times—among the highest multiples seen in recent memory.

“Despite the level of scrutiny and the discerning lens we put on all of this data, 2025 came in at a comparable deal volume to what we saw in 2021,” said Terry Pratchett, MWCN Deal Flow Chair and Managing Director at PNC Bank. “Seeing that kind of volume—with M&A and public equity transactions both up—is a fantastic result, and it carries real momentum forward into 2026.”

On May 21, in conjunction with the Deal Flow event, MWCN will also release a new episode of the Winners’ Circle Podcast featuring an in-depth conversation on the Deal Flow Report’s key findings with Kady Reese, M&A Partner at Kirkland & Ellis LLP; Matt Bartholomew, Principal in the Deal Services Group at CliftonLarsonAllen LLP; and Kevin Jessop, MWCN Chairman and Business Development Lead at IMA Financial Group. The episode will be available at mwcn.org/podcast and wherever you listen to podcasts. The full 2025 Deal Flow Report is available for download at www.mwcn.org.

About MountainWest Capital Network

MountainWest Capital Network is Utah’s first and largest business networking organization devoted to supporting entrepreneurial success and dedicated to the flow of financial, entrepreneurial and intellectual capital. Learn more at www.mwcn.org/deal-flow/.

Amanda Wallman
Alpine Edge Marketing
amanda@wallmangroup.net
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