Thursday, October 4, 2018

Willdan Acquires Lime Energy For $120M

Anaheim-based Willdan Group, which provides professional technical and consulting services, said late Wednesday that it has agreed to acquire Lime Energy Co., which implements energy efficiency programs for electric utilities, in a deal worth $120M in cash. According to Willdan, the price represents approximately 10x Lime Energy's adjusted EBITDA for 2018. Willdan said it expects Lime Energy to have 2018 revenues of approximately $145M. Willdan says that Lime Energy serves 10 of the 25 largest electric utilities, and give of the 10 largest municipal utilities in the U.S., helping businesses with energy efficiency efforts.