Leidos Holdings Inc., a major U.S. defence and technology contractor, has agreed to acquire ENTRUST Solutions Group from private equity firm Kohlberg & Company for approximately US$2.4 billion in cash. The deal will double Leidos' energy infrastructure engineering business to roughly US$1.3 billion in combined annual revenue and 5,500 professionals, filling strategic gaps in gas utility and power generation capabilities.

ENTRUST consolidated its Canadian operations in January 2026 under ENTRUST Solutions Group Canada, Inc., headquartered in Calgary, uniting subsidiaries Maskwa High Voltage and Kestrel Power Engineering. Borden Ladner Gervais LLP (BLG) is acting as Canadian legal counsel.

Citi is financial advisor and Davis Polk & Wardwell is U.S. legal counsel to Leidos. Houlihan Lokey and Perella Weinberg Partners are advising ENTRUST alongside Ropes & Gray. Closing is expected by the end of Q2 2026, subject to HSR antitrust clearance and customary conditions