Neuberger Berman, a private, independent, employee-owned investment manager, announced that Neuberger Berman Alternatives has agreed to acquire a significant minority stake in ENTRUST Solutions Group.
Neuberger Berman Alternatives will join existing investor Kohlberg & Company, which will retain a majority stake in ENTRUST.
The investment will be made by several client portfolios managed by NB Alternatives Advisers (or one of its affiliates). Terms of the investment were not disclosed. The transaction is expected to close later this month.
Headquartered in Illinois, ENTRUST is a consulting and engineering services platform serving the utility and infrastructure end markets. Working from 36 locations across the country, ENTRUST’s more than 3,000 professionals provide consulting, design and engineering services to a broad base of customers, supporting the maintenance and upgrade of aging utility infrastructure across the United States.