Willdan Announces Plan to Acquire The Weidt Group
Willdan Group, Inc. (NASDAQ: WLDN) announced today that it has signed a letter of intent with EYP to acquire substantially all
of the assets of its energy practice division, The Weidt Group. The Weidt Group is a nationally recognized energy consulting and
software development firm that specializes in the energy and operational performance of new and existing buildings for utilities.
The Weidt Group achieved approximately $14 million of revenue in 2018, and Willdan expects the acquisition to be accretive to
earnings in 2019. The acquisition is expected to close in March 2019 and is subject to the execution of an Asset Purchase Agreement
and contract novations.
“Having built 30-year relationships with utilities in many of the midwestern states we don’t currently work in, such as Iowa and
Minnesota, The Weidt Group will expand our geographic footprint into areas where there is a growing demand for energy efficiency
services,” said Tom Brisbin, Willdan’s CEO and Chairman. “The Weidt Group adds new construction energy expertise to Willdan. We
have had a great deal of success cross-selling the services of our acquisitions across our client base and generating revenue
synergies that have accelerated our organic growth. We believe we will have similar opportunities with The Weidt Group, and we look
forward to integrating their expertise into our national business development efforts. We are pleased to welcome all employees of
The Weidt Group to Willdan.”
“Over the past six months, we’ve vetted several companies to find the perfect fit for The Weidt Group,” said Scott Butler, EYP
President and CEO. “Willdan’s skills, culture, and vision for the future fit seamlessly with The Weidt Group and provide new
opportunities for growth.”
“As part of Willdan, we are excited to continue to innovate and leverage great minds and data analytics to solve future energy
challenges,” said Jim Douglas, The Weidt Group’s President. “Our clients will benefit from our access to a much wider range of
services and resources.”
About Willdan
Willdan is a nationwide provider of professional technical and consulting services to utilities, government agencies, and
private industry. Willdan’s service offerings span a broad set of complementary disciplines that include electric grid solutions,
energy efficiency and sustainability, engineering and planning, and municipal financial consulting. For additional information,
visit Willdan's website at
www.willdan.com.
About The Weidt Group
The Weidt Group, with offices nationwide, was established in 1977 to account for and manage the environmental impacts of
building design and construction. Collaborating with architects, engineers, building owners, product manufacturers, utilities and
government clients, The Weidt Group makes available accessible strategies for building lifelong energy performance through
analysis, benchmarking, verification and software development. For more information, visit
www.theweidtgroup.com.
About EYP
EYP is the leading architecture and engineering firm developing new ideas and design solutions with mission-driven clients
in higher education, government, healthcare, and science & technology. Its interdisciplinary Total Impact Design™
approach empowers clients with buildings that profoundly impact human behavior and performance as well as
energy and the environment. Dedicated to People, Purpose, and Planet, EYP design liberates human potential to transform
performance; actively helps clients advance their mission; and maximizes available resources to advance sustainability. Inspired by
its clients, design is how EYP makes a positive impact on the world.
www.eypae.com
Forward-Looking Statements
Statements in this press release that are not purely historical, including statements regarding Willdan's intentions, hopes,
beliefs, expectations, representations, projections, estimates, plans or predictions of the future are forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements involve risks and
uncertainties including, but not limited to, the risk that Willdan will not be able to expand its services or meet the needs of
customers in markets in which it operates. It is important to note that Willdan’s actual results could differ materially from those
in any such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited
to, Willdan’s ability to adequately complete projects in a timely manner, Willdan’s ability to compete successfully in the highly
competitive energy efficiency services market, changes in state, local, and regional economies and government budgets, Willdan’s
ability to win new contracts, to renew existing contracts (including with its two primary customers) and to compete effectively for
contract awards through bidding processes and Willdan’s ability to successfully integrate its acquisitions and execute on its
growth strategy. Willdan’s business could be affected by a number of other factors, including the risk factors listed from time to
time in Willdan’s reports filed with the Securities and Exchange Commission, including, but not limited to, the Annual Report on
Form 10-K filed for the year ended December 29, 2017. Willdan cautions investors not to place undue reliance on the forward-looking
statements contained in this press release. Willdan disclaims any obligation to, and does not undertake to, update or revise any
forward-looking statements in this press release.
Willdan Group, Inc.
Stacy McLaughlin
Chief Financial Officer
714-940-6300
smclaughlin@willdan.com
or
Investor/Media Contact
Financial Profiles, Inc.
Tony Rossi, 310-622-8221
trossi@finprofiles.com
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