Willdan Group, Inc. (WLDN) announced on November 21, 2025 that its subsidiary, Willdan Financial Services, has entered into a definitive agreement to acquire Compass Municipal Advisors, LLC, a municipal advisory firm headquartered in the southeastern United States. The deal is expected to close on January 1, 2026 and will add a firm that specializes in helping public agencies navigate the financial challenges of rehabilitating aging infrastructure and developing new capital projects.
The acquisition positions Willdan to offer integrated engineering, consulting, and financial advisory solutions to municipalities seeking to fund and manage large‑scale infrastructure initiatives. By combining Compass’s expertise in municipal finance with Willdan’s established engineering and consulting capabilities, the company aims to deepen relationships with public‑sector clients and create cross‑sell opportunities across its energy, engineering, and consulting segments. “Partnering with Willdan increases our resources and expands our ability to deliver trusted, data‑driven guidance on a broader scale,” said Brian Nurick, Compass Senior Managing Director. “Compass’s talented team complements Willdan’s financial and technical expertise while expanding our geographic reach with public agencies.”
Willdan’s Q3 2025 results, released on November 6, 2025, provide a strong backdrop for the acquisition. Net revenue rose 25.5% year‑over‑year to $95.0 million, driven by robust demand in its energy‑efficiency and infrastructure solutions segments, particularly from data‑center and electrification projects. Net income climbed 86.8% to $13.7 million, and adjusted earnings per share reached $1.21, up 65.8% from the prior year. CEO Mike Bieber highlighted the company’s “excellent performance” and noted that operating margin continued to expand, reflecting disciplined cost management and a favorable mix of high‑margin projects.
Investors responded cautiously to the announcement, citing insider selling activity of roughly $44.9 million in the last 90 days, broader sector volatility, and valuation concerns. The market’s tempered reaction reflects a focus on these headwinds, even as the acquisition signals a strategic expansion of Willdan’s service portfolio and geographic reach.
The acquisition, coupled with Willdan’s strong Q3 performance and raised full‑year guidance—net revenue projected between $360 million and $365 million and adjusted EBITDA between $77 million and $78 million—underscores management’s confidence in continued growth. The deal is expected to enhance Willdan’s competitive positioning in the public‑sector infrastructure market and support its broader strategy of expanding service offerings to government and utility customers.
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