Willdan expands with Alternative Power Generation buy

ANAHEIM, Calif. - Willdan Group, Inc. (NASDAQ: WLDN), a professional technical and consulting services provider with a market capitalization of $440 million, has announced the acquisition of Alternative Power Generation, Inc. (APG), an electrical engineering and construction management firm. The stock purchase, which was finalized on March 3, aims to enhance Willdan’s electrical engineering offerings and support its growth in the energy transition sector. According to InvestingPro data, Willdan’s stock appears undervalued based on its Fair Value analysis.

APG is known for its expertise in data center substation design, construction management of microgrids, EV charging stations, and renewable energy projects, particularly within the commercial sector. In 2024, APG reported revenues of approximately $37 million, although the terms of the transaction have not been disclosed. This acquisition adds to Willdan’s impressive 23.5% revenue growth over the last twelve months, with the company maintaining a healthy current ratio of 1.77 and operating with moderate debt levels. InvestingPro subscribers can access 8 additional key insights about Willdan’s financial health and growth prospects.

Mike Bieber, CEO of Willdan, expressed that the acquisition will integrate APG’s electrical engineering skills with Willdan’s grid analytics software, energy policy experts, and optimization teams to build a more resilient energy infrastructure. Dan Girard, CEO of APG, highlighted the opportunity to leverage Willdan’s resources and industry presence to scale their services and address the increasing complexity of the electrical grid. The company’s strong execution is reflected in its diluted earnings per share of $1.63 and analysts expect continued profit growth this year.

Willdan, headquartered in Anaheim, California, offers a wide array of services including energy efficiency, sustainability, and municipal financial consulting to utilities, government agencies, and private industries across the nation. For a comprehensive analysis of Willdan’s financial health, growth prospects, and detailed valuation metrics, access the full Pro Research Report available exclusively on InvestingPro.

The information provided is based on a press release statement from Willdan Group, Inc.

In other recent news, Willdan Group, Inc. has been awarded an $11 million contract for an energy and infrastructure modernization project by the City of South Lake Tahoe, California. This two-year project is designed to improve energy and operational efficiencies across the city. The initiative includes the installation of a cogeneration microturbine, photovoltaic solar panels, and advanced building automation systems in city-operated buildings. Additional upgrades will involve replacing existing water meters, introducing energy-efficient power transformers, and establishing a new CO2 ice plant with an eco-friendly refrigerant for the local ice arena. The project aligns with South Lake Tahoe’s Climate Action Plan, which aims for 100% municipal renewable energy by 2032 and a 50% reduction in community-wide emissions by 2030. Willdan has a broad portfolio of services, including electric grid solutions and energy policy planning, which positions it well to lead this significant infrastructure effort. The company has cautioned investors about the risks and uncertainties associated with forward-looking statements regarding the project’s outcomes.

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