Willdan Group completed its $285 million cash acquisition of Mantis Innovation on Oct. 30, 2026, adding energy procurement, building controls and facility-management capabilities to its work for commercial and industrial customers.
Rapid News Brief — The energy and infrastructure services company said the price remains subject to customary holdbacks and adjustments. The closing moves the transaction beyond the agreement announced Sept. 22; it does not establish that the combined business has achieved the financial benefits projected at that time.
Commercial energy services expand
Houston-based Mantis serves customers in manufacturing, food and beverage, healthcare and data centers, according to Willdan’s closing announcement. Its services cover both energy use inside facilities and advice on purchasing energy.
Willdan already provides energy planning, analytics, engineering, software and program implementation for utilities, governments and commercial customers in the United States and Canada. The acquisition broadens the services it can offer industrial and commercial accounts rather than adding electricity generation capacity.
Chief Executive Mike Bieber attributed the opportunity to industrial expansion, electrification and digital infrastructure. He said the combination would help customers manage consumption, procurement and existing grid capacity. Those are the company’s strategic expectations, not independently measured savings from the completed transaction.
Financial update follows Nov. 5
In its September announcement, Willdan said Mantis employed more than 220 people and forecast approximately $120 million in 2026 net revenue. It also projected an adjusted EBITDA margin in the low 20% range and an earnings contribution that would be accretive in 2027. These remain forecasts, not reported results.
At signing, Willdan expected to finance the purchase with a new $250 million term loan, cash and existing credit facilities. The closing release did not provide a new financing breakdown.
Willdan said it would provide further transaction details and updated financial guidance during its Nov. 5 third-quarter earnings call. Investing.com’s report also identified that scheduled update, attributing the closing details to the company’s release.