Willdan Group has completed its acquisition of Mantis Innovation for US$285m in cash, the Anaheim, California-based company said on 30 October 2026.
Why Willdan Group, Inc. (via Willdan Energy Solutions, Inc.) is buying Mantis Intermediate Holdings, LLC (Mantis Innovation)
Mantis adds building controls, energy efficiency, energy advisory and facility management services to Willdan's energy and infrastructure consulting business. Willdan said when it agreed the deal that it expected Mantis to generate about US$120m of net revenue in 2026 and to be accretive to earnings in 2027.
Deal terms and financing
Willdan Energy Solutions bought 100% of Mantis Intermediate Holdings from Mantis NewCo, LLC for a base price of US$285m in cash, subject to customary holdbacks and adjustments. Willdan said it would fund the deal with a new US$250m term loan, cash on hand and borrowings under existing facilities.
Regulatory approvals and timing
The transaction closed after the expiry of the Hart-Scott-Rodino waiting period and satisfaction of customary conditions.
