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Energy & Infrastructure Consultant To Acquire Retail Energy Broker
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Willdan Group, Inc., which describes itself as a technical services company focused on energy and infrastructure solutions, announced that it has entered into a definitive Membership Interest Purchase Agreement with Mantis Innovation to acquire 100% of the outstanding equity of Mantis Intermediate Holdings, LLC ("Mantis").
The total purchase price of this acquisition is $285 million in cash, subject to customary holdbacks and adjustments.
In addition to offering energy procurement consulting, Mantis is a provider of building controls, energy efficiency, energy advisory, and facility management solutions.
"With more than 220 employees, Mantis expands Willdan’s commercial market presence in data centers, food and beverage, healthcare, and other industries, while creating meaningful opportunities to leverage each company’s customer relationships with a broader range of core energy offerings," Willdan said
"Our expected acquisition of Mantis executes on our strategy to further diversify across our core markets and broaden our commercial and industrial capabilities," said Mike Bieber, Willdan’s CEO. "This addition significantly strengthens our energy procurement offering, industrial energy efficiency business, and positions Willdan for the growing demand of new energy-efficient data centers. In 2026, Mantis is expected to generate $120 million of net revenue and achieve an adjusted EBITDA margin percentage in the low 20s. Mantis is expected to be accretive to Willdan’s earnings in 2027."
Willdan expects to fund the transaction using proceeds from a new $250 million term loan facility for which it has received a fully underwritten financing commitment, together with cash on hand and borrowings under its existing credit facilities.
The closing of the acquisition is subject to completion of the Hart-Scott-Rodino (“HSR”) anti-trust approval process.
Willdan expects the acquisition of Mantis to close during the fourth quarter of 2026.
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September 22, 2026
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Copyright 2026 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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