Leidos signs agreement to acquire ENTRUST Solutions in $2.4bn deal

Leidos has reached an statement to get ENTRUST Solutions Group from Kohlberg successful a woody valued astatine astir $2.4bn successful cash.

The transaction, which is expected to adjacent by the extremity of the 2nd 4th of 2026, taxable to customary closing conditions and regulatory approvals, volition beryllium funded done a premix of caller debt, disposable currency and commercialized paper.

Kohlberg initially acquired ENTRUST successful 2019 and completed a number recapitalisation successful 2023; this merchantability represents an exit for the backstage equity firm.

ENTRUST presently employs much than 3,000 professionals crossed 40 locations successful North America.

The institution provides consulting, plan and engineering services to a wide basal of customers, with its expertise covering some state and electrical utilities crossed generation, transmission and distribution.

Leidos expects the integration of ENTRUST to treble the standard of its existing $600m vigor infrastructure engineering business, which has shown sustained maturation implicit the past 8 years.

The acquisition is expected to summation Leidos’ entree to inferior assemblage markets and widen its lawsuit basal among utilities.

It forms portion of Leidos’ NorthStar 2030 strategy, which focuses connected engineering and exertion for unafraid vigor infrastructure.

ENTRUST CEO Adam Biggam said: “By joining Leidos, we are uniting world-class powerfulness and vigor engineering expertise to make a starring end-to-end infrastructure platform. Our combined 5,500-plus vigor professionals volition person the resources, exertion and scope to tackle the astir analyzable challenges facing the inferior and powerfulness markets today.”

Citi served arsenic fiscal advisor to Leidos, with Davis Polk & Wardwell providing ineligible proposal and PricewaterhouseCoopers acting arsenic accounting advisor.

On the seller side, Houlihan Lokey and Perella Weinberg Partners acted arsenic fiscal advisers, Ropes & Gray provided ineligible proposal and KPMG served arsenic accounting adviser.

"Leidos signs statement to get ENTRUST Solutions successful $2.4bn deal" was primitively created and published by Power Technology, a GlobalData owned brand.

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