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Featured Mergers, Acquisitions, and Capital Raise Transactions Closed via Axial
Meritage Partners Advised Horizon Underground, Inc. in Acquisition by Novastone
- Date November 3, 2025
- Transaction type Acquisition
- Industry Construction Services, Industrials
Meritage Partners served as the M&A advisor to Horizon Underground, Inc. in its acquisition by Novastone Capital Advisors. Horizon Underground is a full-service underground utility infrastructure contractor based in Norco, California, specializing in horizontal drilling, directional boring, open trench construction, hydro-vacuum excavation, and comprehensive utility installation services for telecom, energy, solar, electric, gas, and railroad customers across the Western United States.
Meritage Partners is a multidisciplinary mergers and acquisitions advisory firm serving lower-middle-market businesses across North America, providing sell-side and buy-side advisory, capital-raising, and strategic exit planning solutions. Meritage Partners
The acquisition by Novastone AEC expands Novastone’s platform in the architecture, engineering, and construction (“AEC”) sector and supports Horizon Underground’s continued growth in infrastructure capabilities and geographic reach.
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