Willdan to buy Mantis Innovation for USD 285 million cash
WLDN•Mantis revenue outlook and Willdan financing
Mantis is forecast to generate USD 120 million of net revenue in 2026 with an adjusted EBITDA margin in the low 20% range.
Willdan plans to fund the deal with a new USD 250 million term loan, cash on hand, and borrowings under existing credit facilities.
Willdan agrees to buy Mantis Innovation for USD 285 million
Willdan agreed to buy Mantis Innovation for USD 285 million in cash, subject to customary holdbacks and adjustments.
Mantis, based in Houston, provides building controls, energy efficiency, energy advisory, energy procurement, and facility management services.
Closing is expected in the fourth quarter of 2026, pending completion of the HSR anti-trust approval process.
