Leidos has entered into a definitive agreement to acquire ENTRUST Solutions Group from Kohlberg for approximately $2.4 billion in an all-cash transaction, significantly expanding its energy infrastructure business. The deal will effectively double Leidos’ $600 million energy infrastructure engineering segment, which has recorded steady double-digit growth and margins over the past eight years.
With more than two decades of experience supporting electric utilities, Leidos said the acquisition strengthens its capabilities across power generation, transmission, and distribution while broadening its utility customer base nationwide. The transaction aligns with Leidos’ NorthStar 2030 growth strategy, which prioritizes secure and resilient energy infrastructure as U.S. utilities prepare to invest an estimated $1 trillion in grid modernization over the next decade.
Leidos Chief Executive Officer Tom Bell said, “ENTRUST’s engineering capabilities and customer base perfectly complement ours, and it has a consistent track record of growth and strong profitability.” He added that the deal supports efforts to expand energy infrastructure and improve reliability amid aging systems and extreme weather. ENTRUST CEO Adam Biggam said, “By joining Leidos, we’re uniting world-class power and energy engineering expertise to create a leading end-to-end infrastructure platform.” The combined organization will bring together more than 5,500 energy professionals. Leidos expects the acquisition to be immediately accretive to revenue growth and adjusted EBITDA margins, with non-GAAP earnings per share benefits beginning in 2027. The transaction is expected to close by the end of the second quarter of 2026, subject to regulatory approvals.
