Anaheim-based Willdan Group, Inc. has announced that it has completed the previously announced acquisition of Mantis Intermediate Holdings, LLC, doing business as Mantis Innovation, for $285 million in cash, subject to customary holdbacks and adjustments. The transaction closed following expiration of the applicable waiting period under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act and satisfaction of customary closing conditions.
Headquartered in Houston, Mantis provides building controls, energy efficiency, energy advisory and facility management solutions to commercial and industrial customers. Its clients span manufacturing, food and beverage, healthcare, data centers and other energy-intensive industries.
“We welcome the entire Mantis team to Willdan,” said Mike Bieber, Willdan’s CEO. “Electricity demand is growing across the economy, driven by industrial expansion, electrification and new digital infrastructure. Our clients need practical ways to manage that load, control costs and maintain reliability. Together with Mantis, we can help them reduce consumption, procure energy more effectively and make better use of the grid capacity that already exists.”
“Today marks an exciting new chapter for our team and our clients,” said Darrell Whitley, CEO of Mantis Innovation. “We have built Mantis around helping customers solve complex energy and facility challenges, and joining Willdan expands the opportunities available to both our people and the clients we serve. We share a commitment to innovation, technical excellence and customer success, and I’m excited about what we can accomplish together.”
Information for this article was sourced from Willdan.
