Willdan Group, Inc. (WLDN) announced that it has signed an agreement to acquire Genesys Engineering (Genesys), a mechanical and electrical consulting and engineering company located in New York. Genesys had revenue of approximately $30 million in 2015, and its major customers include universities, hospitals, utilities and private industries located in eastern New York State. The transaction is expected to close in early March.
Willdan is based in Anaheim, CA. The company provides professional consulting and technical services to utilities, public agencies and private industry throughout the United States.
“We have frequently partnered with Genesys Engineering on projects and we have first-hand knowledge of their engineering expertise and the unique combination of skills that our two companies offer customers,” commented Tom Brisbin, President and CEO of Willdan. “In addition to complementary technical skills, Genesys brings to Willdan a new group of long-term university and industrial customers, while Willdan brings to Genesys strong utilities experience and broader national reach. As America’s power systems evolve toward distributed generation and microgrids, our combined technical solutions should become more valuable. We welcome all of the employees of Genesys to Willdan.”
The transaction is expected to add more than $30 million of revenue to the remainder of 2016, and is expected to be accretive to 2016 earnings. As part of the transaction, Willdan has amended its credit facility with its lender, BMO Harris Bank.