Willdan Group Inc., an Anaheim company that handles engineering, security and financial consulting jobs for cities and counties, plans to go public next week in an offering worth about $30 million.
The company plans to sell about 2.8 million shares at $9 to $11 apiece. A shareholder is selling another 800,000 shares.
Willdan itself expects proceeds of $6.3 million for general purposes, including paying down $1.6 million in debt, possible acquisitions and distribution to existing stockholders.
The 46-year-old company, which has about 650 workers, posted sales of more than $67 million in 2005. It was in the black for two of the past three years and in this year’s first quarter.
The company targets cities, counties and other governments with anywhere from 10,000 people to 300,000 people.
Willdan does civil engineering, building and safety services, geotechnical engineering, financial and economic consulting, and, its newest service, disaster preparedness and homeland security.
Engineering makes up 85% of revenue.
Los Angeles-based Wedbush Morgan Securities Inc. is the lone underwriter of the offering. The company expects to trade on the Nasdaq under the symbol “WLDN.”
