Business Wire·Sep 22, 2026, 4:08 PM ET

Willdan to Acquire Mantis Innovation, Strengthening Its Position in Energy Management and Infrastructure

Willdan Group, Inc. entered a definitive agreement to acquire 100% of Mantis Intermediate Holdings, LLC for $285 million in cash.
The transaction is subject to HSR anti-trust approval, with closing expected in the fourth quarter of 2026.
Mantis is a Houston-based provider of building controls, energy efficiency, & facility management solutions with over 220 employees.
The acquisition expands Willdan's presence in data centers, food & beverage, healthcare, & other commercial industries.
Mantis is projected to generate $120 million in net revenue in 2026 with an adjusted EBITDA margin in the low 20s.
The deal is expected to be accretive to Willdan's earnings in 2027.
Willdan's Board of Directors unanimously approved the transaction.
Funding will come from a new $250 million term loan, existing cash, & borrowings under current credit facilities.
Jefferies LLC served as the exclusive financial advisor to Mantis.