Monitor HSR Act clearance timeline and any regulatory challenges; the target closing date is October 30, 2026, with an outside date of November 30, 2026 (extendable to January 4, 2027). The acquisition is a bolt-on for Willdan's energy solutions business and is debt-financed, so watch for any financing-related disclosures or delays.
Price Chart
Executive Summary
Willdan Group's wholly owned subsidiary, Willdan Energy Solutions, has agreed to acquire 100% of Mantis Intermediate Holdings, LLC from Mantis NewCo, LLC (backed by Blackstone) for a base purchase price of $285 million in cash, subject to customary working capital and other adjustments. The acquisition, expected to close on or around October 30, 2026, is financed through debt and is subject to HSR Act clearance and other customary conditions. This bolt-on acquisition expands Willdan's energy solutions capabilities.
Key Financial Metrics
Key Facts
- Willdan Energy Solutions subsidiary Willdan Energy Solutions entered into a Membership Interest Purchase Agreement to acquire Mantis Intermediate Holdings, LLC for $285 million base purchase price
- Base purchase price subject to adjustments for working capital, cash, indebtedness and transaction expenses
- Closing expected on October 30, 2026, subject to HSR Act clearance and other conditions
- Willdan Group, Inc. provides a full guarantee of all obligations of Willdan Energy Solutions under the agreement
- Debt financing committed via a Debt Commitment Letter; financing not a condition to closing
- Seller is Mantis NewCo, LLC, an entity affiliated with Blackstone
Financial Impact
$285 million base purchase price in cash, subject to working capital and other adjustments
Risk Factors
- HSR Act clearance could delay or prevent closing
- Debt financing execution risk despite commitment letter
- Integration risk for the acquired business
- Potential for material adverse change in the target's business before closing
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104659-26-110002 |
| Document: tm2625947d1_8k.htm | 0001104659-26-110002 |
| Document: 0001104659-26-110002-index-headers.html | 0001104659-26-110002 |
| Document: 0001104659-26-110002-index.html | 0001104659-26-110002 |
| Document: 0001104659-26-110002.txt | 0001104659-26-110002 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 23, 2026 4w ago | 8-K | $79.63 | awaiting T+60 | — | $72.48 (−8.98%) |
Jun 11, 2026 19w ago | Institutional Cluster | $97.48 $85.78 | ▼ −12.00% | ▼ −16.40% | $72.48 (−25.65%) |
May 14, 2026 23w ago | 144 | $92.12 $83.96 | ▲ +8.86% | ▲ +13.37% | $72.48 (+21.32%) |
May 13, 2026 23w ago | 144 | $91.66 $82.31 | ▼ −10.20% | ▼ −13.79% | $72.48 (−20.93%) |
Apr 24, 2026 26w ago | DEFA14A | $66.91 $74.52 | ▲ +11.37% | ▲ +6.60% | $72.48 (+8.32%) |
US Market Status
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