Kohlberg Flips The Switch On $2.4 Billion ENTRUST Sale - Leidos Holdings (NYSE:LDOS)

Core Viewpoint - Kohlberg has agreed to sell ENTRUST Solutions Group to Leidos Holdings Inc for approximately $2.4 billion, with the transaction expected to close in the second quarter of 2026 [1][2]. Group 1: Transaction Details - The sale price for ENTRUST Solutions Group is approximately $2.4 billion [1]. - The transaction is anticipated to close in the second quarter of 2026 [2]. - Financial advisors for the transaction include Houlihan Lokey and Perella Weinberg Partners, with Ropes & Gray serving as legal advisor and KPMG as accounting advisor [2]. Group 2: Company Background - ENTRUST Solutions Group is a consulting and engineering services platform that was acquired by Kohlberg in 2019, with a minority recapitalization occurring in 2023 [4]. - Over the past six years, ENTRUST has expanded its geographic reach, service capabilities, and customer base through organic growth and strategic acquisitions [4]. - Kohlberg manages approximately $17 billion in assets as of September 30, 2025, and focuses on investments in health care and services companies [4]. Group 3: Leadership Perspective - Adam Biggam, CEO of ENTRUST, stated that the collaboration with Kohlberg has strengthened their ability to serve customers and will enhance North America's critical power infrastructure [3].