GP Strategies Acquires Lorien Engineering Solutions Ltd
Expanding Services in the United Kingdom and Poland
ELKRIDGE, Md., June 18, 2013 /PRNewswire/ — Global performance improvement solutions provider GP Strategies Corporation (NYSE: GPX) announced today that it has acquired UK-based Lorien Engineering Solutions (LES), a provider of engineering design and project management services with specific expertise in the food & beverage, manufacturing and life sciences industries.
GP Strategies can now provide further value to LES clients by offering services including technical documentation, reliability and maintenance, operational excellence, training needs analysis, and training design, development and delivery. With the addition of LES, which represents over 70 employees, the acquisition also expands the Company’s design engineering expertise beyond the United States into the UK and Poland. GP Strategies anticipates that the acquired business will be accretive to earnings per share in 2013.
- Founded in 1985 with offices in Burton-on-Trent UK and Wroclaw, Poland
- Generated in excess of $11 million (or £7 million) in revenue for 2012
- Recognized by the Royal Society for the Prevention of Accidents with its 21st Gold Award, and a 7th Order of Distinction for occupational health and safety in construction
Steve Slater, managing director at LES, comments, “We believe that as part of the GP Strategies organization, our clients and staff will benefit from the scale and global reach of the company.”
Scott Greenberg, Chief Executive Officer of GP Strategies, stated, “The LES acquisition is another example of selecting complementary businesses that enhance our global service and product offerings. We believe that LES’ engineering capabilities, combined with their industry experience and geographic reach into Eastern Europe, will further our ability to expand upon the solutions they provide to clients with our diverse training and engineering services.”
Additional information may be found at http://www.lorienengineering.com/.
About GP Strategies
GP Strategies Corporation (NYSE: GPX) is a global performance improvement solutions provider of training, eLearning solutions, management consulting and engineering services. GP Strategies’ solutions improve the effectiveness of organizations by delivering innovative and superior training, consulting and business improvement services, customized to meet the specific needs of its clients. Clients include Fortune 500 companies, manufacturing, process and energy industries, and other commercial and government customers. Additional information may be found at www.gpstrategies.com.
We make statements in this press release that are considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. These statements reflect our current expectations concerning future events and results. We use words such as “expect,” “intend,” “believe,” “may,” “should,” “could,” “anticipates,” and similar expressions to identify forward-looking statements, but their absence does not mean a statement is not forward-looking. These statements are not guarantees of our future performance and are subject to risks, uncertainties, and other important factors that could cause our actual performance or achievements to be materially different from those we project. For a full discussion of these risks, uncertainties, and factors, we encourage you to read our documents on file with the Securities and Exchange Commission, including those set forth in our periodic reports under the forward-looking statements and risk factors sections. Except as required by law, we do not intend to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
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SOURCE GP Strategies