Denver's due diligence environment reflects Colorado's economic mix: technology services, outdoor recreation companies, specialty contracting, and a regulated cannabis sector that introduces compliance layers absent in most other states. Colorado's 2022 non-compete reform changed how key-employee retention provisions are analyzed during diligence, and any acquisition involving a cannabis business requires MED licensing transfer review that can add months to the timeline. Our managing partner handles Denver-area due diligence engagements directly, coordinating the investigative work across the regulatory, financial, and contractual dimensions of each transaction.
Share the basics. Alex reviews each inquiry.
Your transaction details are under review. If there is alignment, we will be in touch.
Meanwhile, feel free to call us directly at (248) 266-2790
Alex Lubyansky handles acquisition due diligence law work for buyers and sellers in Denver and across the country. Here is what that looks like:
We work best with people who know what they want and are ready to move:
Share the relevant deal details once. Alex reviews each inquiry and responds within one business day when there is alignment.
A structured, methodical approach to acquisition due diligence law
We create a customized due diligence checklist and request list based on the target company's industry, size, and deal structure, then coordinate document collection with the seller.
Our team reviews every material contract, corporate record, litigation file, and regulatory filing in the data room, flagging risks that could affect valuation or deal terms.
We identify and categorize risks by severity, including potential liabilities, contract issues, compliance gaps, and operational exposures that require attention before closing.
Managing Partner Alex Lubyansky delivers a clear, actionable findings report with risk-ranked issues and specific recommendations for how to address each one in the purchase agreement.
We translate diligence findings into negotiation leverage, drafting specific representations, warranties, indemnities, and closing conditions that protect you from identified risks.
We don't take every matter. Here is what happens when you reach out.
Alex reviews your transaction details. Your submission is not screened by an intake coordinator before it reaches him.
We evaluate whether your deal aligns with our practice. Not every matter is a fit, and we will tell you directly if it is not.
If there is alignment, Alex schedules a direct call to discuss your transaction, timeline, and objectives.
Before any work begins, you receive a written engagement letter with defined scope, timeline, and fee structure. No surprises.
Alex Lubyansky leads every acquisition due diligence law engagement, with an associate supporting the work.
M&A counsel since 2013. Nationwide. LOI through closing.
Alex reviews each inquiry. If there is alignment, you will hear back within one business day.
Your transaction details are under review. If there is alignment, we will be in touch.
Meanwhile, feel free to call us directly at (248) 266-2790
Common questions from Denver clients
Submit your transaction details for a preliminary assessment by our managing partner
Submit Transaction DetailsSubmit the core transaction details and Alex will evaluate whether the matter is a fit for direct engagement.
Denver's M&A market benefits from the city's emergence as a secondary tech hub and its traditional strengths in aerospace, natural resources, and outdoor recreation industries. The region's thriving craft food & beverage sector (breweries, restaurants, CPG brands) drives significant small-business acquisition activity. Colorado's cannabis industry, now mature, is seeing consolidation-driven M&A.
Denver offers a balanced market with moderate valuations and consistent deal flow. The city's quality of life attracts relocated executives who often become first-time acquirers, creating a growing buyer pool for local businesses.
Colorado's educated workforce (one of the highest percentages of college graduates in the US) and lifestyle appeal create low employee turnover for acquired businesses, protecting post-acquisition value.
Colorado severely restricts non-compete agreements - they are void for most workers unless the employee earns above a high threshold (approximately $123,750 in 2024), making retention strategies and earn-out structures critical in acquisition planning.
Colorado's Non-Compete Statute reform, effective August 2022, significantly restricted employee non-compete agreements. The new law limits enforceable non-competes to employees earning above the threshold (adjusted annually, roughly $130,000 in 2024) and requires that the covenant be for protection of trade secrets. For due diligence purposes, this change affects key-employee retention planning in acquisitions. Buyers who plan to rely on non-competes to retain the target company's senior technical talent or sales leadership must verify that those employees meet the statutory threshold and that their non-competes were executed after the 2022 effective date. Pre-2022 non-competes may not survive a Colorado court challenge. The cannabis-adjacent caution in Denver due diligence is real but extends beyond licensed cannabis businesses. Ancillary service providers, commercial landlords with cannabis tenants, financial service companies that touch cannabis funds, and technology companies serving licensed operators all face heightened buyer diligence because of the interaction between federal Schedule I classification and state licensing. Even a target company that does not operate in cannabis may carry cannabis-related risk if its customer base or revenue sources include licensed operators. Denver's outdoor recreation and active lifestyle sector produces acquisition targets that attract family offices and lifestyle-focused PE buyers who run longer, more relationship-oriented diligence processes than institutional PE.
Post-closing retention of key employees is a standard buyer concern, but Colorado's 2022 non-compete reform requires specific diligence on the enforceability of existing non-competes and the legality of new ones. Due diligence must confirm that existing employee non-competes meet the post-2022 salary threshold and trade secret protection requirements. If the target company has senior employees earning below the threshold, their non-competes are unenforceable under Colorado law, and the buyer must plan for retention through equity incentives, deferred compensation, or contractual arrangements that do not rely on restricted covenants. This analysis belongs in the diligence phase, not the post-closing integration plan.
Denver acquisitions involving businesses with material revenue exposure to the licensed cannabis sector require diligence on both the direct regulatory risk and the indirect federal banking and compliance implications. A technology company with a cannabis operator as its largest customer carries federal contract risk, banking relationship risk, and potential issues with buyers who are federally regulated or publicly traded. Due diligence must map the cannabis revenue exposure, assess the regulatory structure of the relevant licenses, and evaluate what happens to the revenue stream if the buyer cannot or will not continue servicing licensed cannabis businesses post-closing.
Colorado's outdoor recreation sector and specialty contracting industry produce acquisition targets with unique diligence profiles. Outdoor recreation businesses often have seasonal revenue patterns, equipment-intensive operations, and permit or public land access agreements that affect transferability. Specialty contractors face diligence on license and bond portability, workers' compensation history, prevailing wage compliance on government contracts, and insurance carrier relationships. The purchase agreement for both types of businesses requires detailed representations on regulatory compliance and permit status that go beyond what standard commercial due diligence checklists cover.
Denver's due diligence environment is shaped by Colorado's distinctive regulatory landscape: a non-compete statute that changed meaningfully in 2022, a cannabis sector with federal-state regulatory conflict, and an outdoor and recreation economy with permit and public land access considerations. Each of these layers affects how diligence is scoped, how the purchase agreement's representations are drafted, and what closing conditions are appropriate. Alex handles Denver-area due diligence engagements, coordinating the regulatory, employment, and tax dimensions of each transaction to build a complete picture of the target company before the purchase agreement is finalized.
Local Market Context
Denver-Aurora-Lakewood, CO MSA · MSA population 3.0M
MSA Population (2024)
3.0M
U.S. Census Bureau
Top Industry Concentration
Denver's M&A market reflects its position as the gateway to the Mountain West and Rocky Mountain energy markets. Oil and gas, mining, and renewable energy transactions are anchored by the metro's proximity to the DJ Basin and broader Rocky Mountain energy infrastructure. A growing technology and aerospace sector has diversified the deal mix. Denver has also attracted private equity firms seeking lower-cost operations than coastal markets, adding deal-making capacity.
Denver International Airport is the fifth-busiest US airport and the primary air hub for the Mountain West region. Denver is the hub of the Front Range logistics corridor along I-25. Rocky Mountain Corridor rail freight serves the metro.
Recent Denver Deal Signal (2024-2025)
Renewable energy project acquisitions in Colorado accelerated through 2024 as Xcel Energy and independent power producers expanded solar and wind portfolios. Technology company acquisitions by Denver-based strategic buyers also increased, reflecting the metro's maturing tech ecosystem.
Source (accessed 2026-04-27)
Colorado Securities Act governs Blue Sky filings. Colorado's legalized cannabis industry creates a distinct M&A sub-sector with unique regulatory complexities at the state level.
Restricted by an annually adjusted salary threshold ($130,014 in 2026) under C.R.S. 8-2-113. Sale-of-business exception applies.
Entity mergers and conversions must be filed with the Colorado Secretary of State. Annual reports are required for all Colorado entities. Businesses operating in regulated industries (cannabis, energy, insurance) require separate approvals.
Colorado Bar Association. Voluntary bar. The Colorado Supreme Court regulates admission separately via the Office of Attorney Registration.
Bar association websiteFederal districts: D. Colo.
Business court: No dedicated business court division. Commercial disputes proceed through general civil courts.
Colorado M&A is driven by the Denver-Boulder technology and aerospace corridor, plus energy sector transactions; the state has emerged as a significant tech acquisition market.
Watchpoints
These are the items we see derail acquisition due diligence law transactions in the Denver market. Each one is rooted in current statutory law, recent legislative changes, or recurring patterns from the deals Alex has handled.
Restricted by an annually adjusted salary threshold ($130,014 in 2026) under C.R.S. 8-2-113. Sale-of-business exception applies.
"The seller isn't your enemy, but their interests aren't aligned with yours."
Colorado Securities Act governs Blue Sky filings. Colorado's legalized cannabis industry creates a distinct M&A sub-sector with unique regulatory complexities at the state level.
Securities regulated by Colorado Division of Securities (dora.colorado.gov/securities). Colorado follows the Uniform Securities Act of 2002; Blue Sky notice filings required for Reg D offerings. Colorado enacted a wage threshold for non-compete enforceability.
In-depth guides to help you prepare for your transaction
Key considerations for sellers navigating the M&A process with legal representation.
Read guideA structured approach to legal, financial, and operational due diligence.
Read guideUnderstanding the binding and non-binding elements of each document.
Read guideCommon deal-killers and how experienced counsel helps prevent them.
Read guideWhat buyers should look for in a Franchise Disclosure Document.
Read guideUse these tools to prepare for your transaction. Professional analysis at your fingertips.
Acquisition Stars represents clients across Colorado and nationwide. Alex Lubyansky leads every M&A engagement.
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"In a K-shaped market, discipline is the only thing that separates the deals that close from the ones that quietly die on a spreadsheet."
M&A counsel since 2013 Senior counsel on every engagement Admitted in Michigan, practicing nationwide
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Alex Lubyansky leads every engagement, with an associate supporting the work. Tell us about your transaction and we will let you know if there is a fit.
LOI through closing. Nationwide. M&A counsel since 2013.
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