Greentech Advises

Greentech Advises Lime Energy on its Sale to Willdan
November 13, 2018

Greentech Capital Advisors is pleased to announce the following transaction:
Exclusive financial advisor on its sale to

$120,000,000November 2018



Lime Energy (“Lime”) is one of the leading fully-integrated building energy efficiency platforms for small- and medium-sized U.S. businesses. Its solutions include utility program design and administration, data-driven market intelligence, energy efficiency sales to end-customers, project implementation, and measurement verification, all delivered through Lime’s technology platform. Lime has served 10 of the top 25 U.S. electric utilities and 5 of the top 10 municipal utilities in the U.S.


  • On November 9th, 2018, Willdan Group, Inc. (NASDAQ:WLDN) completed its acquisition of Lime in an all-cash transaction valued at $120 million, exclusive of customary holdbacks and adjustments, which was previously announced on October 3rd, 2018
  • The combination creates a more competitive player in the energy efficiency market with a wider utility customer base
  • The acquisition of Lime expands and diversifies Willdan geographically, positioning the company for upcoming expansion in the Northeast and California
  • The transaction represents an enterprise value multiple of 10x Lime’s projected 2018 EBITDA

The transaction press release can be found at:

Press Release


Greentech Capital Advisors acted as exclusive financial advisor to Lime Energy. The transaction further strengthens Greentech’s leading advisory position in the energy efficiency services market. For additional information about this transaction, please contact:

Duncan Williams
+1 (415) 697-1560

Michael Horwitz
+1 (415) 697-1561

All activities of Nomura Greentech in the U.S. are conducted by Nomura Securities International, Inc. (“NSI”), a broker-dealer registered with the SEC and a member of FINRA. All services of Nomura Greentech conducted outside of the U.S. are provided by Nomura Greentech Capital Advisors, AG (“NGCA AG”), a Swiss company limited by shares, unless notified otherwise. NGCA AG does not provide services that require it to be licensed as a broker-dealer in Switzerland and is not so licensed. NSI and NGCA AG are affiliates under common control. The web domain provides information about NSI and NGCA AG.