Jacksonville, Florida-based engineering and infrastructure services company Haskell has agreed to purchase Leidos‘ (NYSE: LDOS) heavy construction business and some design assets of the latter’s engineering business for an undisclosed sum.
Haskell said Wednesday the transaction is scheduled to close in the second quarter of 2016 and will rebrand the Leidos Constructors and Leidos Engineering design asset businesses to Benham, the name they operated under between the 1909 launch and 2007.
Michael Gwyn, president of Leidos Constructors, will transition to Benham and serve in the same capacity.
Leidos said the heavy construction business generated $175 million in sales for 2015 and is making the divestiture as part of its efforts to focus on built digital and physical infrastructure, as well as to reshape the company’s portfolio.
“We are concentrating our efforts on the new market opportunities created by the convergence of the physical, digital, and data worlds, ” said Roger Krone, chairman and CEO of Leidos and an inductee into Executive Mosaic’s Wash100 for 2016.
“Our heavy construction capability is not critical to this direction. Our engineering and technology experts are now better positioned to push beyond traditional engineering in infrastructure markets.”
Leidos will hold onto its engineering services in the government, utility, energy, manufacturing, aviation and lender/developer markets.