Willdan Acquires Enica Engineering, Expanding Mission-Critical Energy Services for Commercial Sector
26 October 2024 - 1:30AM
Business Wire
Willdan Group, Inc. (NASDAQ: WLDN) announced today that as of
October 23, it has acquired substantially all of the assets of
Enica Engineering, PLLC (Enica), an energy and building automation
solutions firm focused on mission-critical energy services for the
commercial sector. Founded in 2010, Enica provides highly
specialized energy and automation engineering to customers in the
Northeast United States, including pharmaceutical and biotech
firms, private higher education institutions, and surgical
hospitals. Enica is projected to generate approximately $10 million
in revenue in 2024, and Willdan expects the acquisition to be
accretive to earnings in 2025. Other terms and conditions were not
disclosed.
“With Willdan’s national presence and resources, we’re excited
to bring our energy, operations, and automation expertise to
customers in new regions,” said Reed Berinato, Co-Founder and
Principal Engineer of Enica. “Current customers will gain
convenient access to new services, such as energy master planning,
performance contracting, and project implementation, to help
achieve their goals.”
“Enica supports critical building energy systems for several
high-profile pharmaceutical, healthcare, and research
institutions,” said Mike Bieber, Willdan’s CEO. “The addition of
their specialized technical knowledge and trusted relationships
allows Willdan to continue expanding our business with commercial
customers nationwide.”
About Enica Engineering
Enica Engineering is an engineered solutions provider that aims
to solve modern challenges and meet the regulations faced by owners
and operators of today’s critical systems. Enica’s services and
approach to customer success are built on its industry-leading
controls expertise and unique, hands-on project delivery. Combined
with its experience in facility operations, Enica offers services
in project development, building automation engineering, control
system optimization, energy metering, and field engineering
services. Its clients are focused in the life sciences and include
major medical campuses, universities, hospitals, and pharmaceutical
and industrial firms in the greater New York area.
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.
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 three primary customers and the two primary
customers of recently acquired Lime Energy) 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, 2023. 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20241025598382/en/
Al Kaschalk Vice President 310-922-5643
akaschalk@willdan.com
Willdan (NASDAQ:WLDN)
Historical Stock Chart
From Oct 2024 to Nov 2024
Willdan (NASDAQ:WLDN)
Historical Stock Chart
From Nov 2023 to Nov 2024