Willdan Group entered into a $200 million amended credit agreement that expands the company’s available borrowing capacity with a syndicate of BMO Harris Bank, MUFG, Bank of America, Citibank,. and U.S. Bank. BMO Harris served as administrative agent.

The new credit agreement consists of a $100 million term loan A, $50 million delayed draw term loans, and $50 million revolving line of credit, each maturing on June 26, 2024. Subject to satisfying certain conditions described in the credit agreement, the company may request that the banking syndicate increase the aggregate amount under the revolving line of credit and/or additional term loans by up to $100 million, for a total facility size of $300 million, although the banking syndicate is not obligated to do so. The facility is also expected to be used to fund future acquisitions and available for general operating purposes.

“We thank the banking syndicate for their support and welcome them as our partners for the future,” said Tom Brisbin, Willdan’s chairman and CEO. “We have doubled the size of Willdan over the past three years, so this expanded credit facility will enable us to continue executing on our growth strategy.”

Willdan also completed its acquisition of substantially all of the assets of Onsite Energy. This acquisition adds a new market – the industrial sector – to those already served by Willdan. This acquisition provides industrial customers and utilities with deeper engineering, broader technical skills, and national reach.

Onsite Energy provides energy services to industrial energy users and utilities.

Willdan is a nationwide provider of professional technical and consulting services to utilities, government agencies, and private industry.