Company Overview - ENTRUST Solutions Group is a leading consulting and engineering services platform serving the utility and infrastructure end markets with over 3,100 professionals across 40+ locations in North America [2][7] - The company provides consulting, design, and engineering services aimed at maintaining and upgrading aging utility infrastructure in the United States [2][7] - Over the past six years, ENTRUST has significantly expanded its geographic reach, service capabilities, and customer base through organic growth, strategic acquisitions, and enhanced operational infrastructure [7] Investment Details - Neuberger Berman Capital Solutions, along with funds managed by Neuberger Berman Private Markets, announced the exit of its minority investment in ENTRUST through a sale to Leidos for approximately $2.4 billion [1] - Neuberger initially acquired a significant minority stake in ENTRUST in August 2023 [1] - The transaction is subject to customary closing conditions and regulatory approvals, expected to close in the second quarter of 2026 [4] Strategic Partnerships - Neuberger Berman has played a vital role in supporting ENTRUST's strategic investments and team assembly, positioning the company for long-term success [3] - Leidos has retained Citi as financial advisor, Davis Polk & Wardwell LLP as legal advisor, and PwC as accounting advisor for the transaction [3] - ENTRUST, Kohlberg, and Neuberger have engaged Houlihan Lokey and Perella Weinberg Partners as financial advisors, Ropes & Gray as legal advisor, and KPMG as accounting advisor [4]