Elkridge, MD. November 18, 2010. – GP Strategies Corporation (NYSE: GPX), the corporate parent of global performance improvement solutions provider General Physics Corporation (GP), announced that GP’s wholly-owned subsidiary, General Physics (UK) Ltd, has acquired Bath Consultancy Group, a niche leadership and organizational development consulting firm located in the United Kingdom. Bath Consultancy generated revenue of $3 million for the year ending April 30, 2009 and GP Strategies anticipates that the acquired business will have increased revenue and be accretive to earnings-per-share in 2011. GP utilized cash-on-hand to fund the acquisition.
Established in 1986 by three members of the University of Bath’s School of Management, Bath Consultancy Group has a reputation for building exceptional customer relationships with leading global companies and for facilitating organizational change, senior leadership development, coaching and team coaching. Its client base includes a range of global organizations and many in the FTSE 100. Its primary services include change consultancy and organization development, executive leadership and management development, executive coaching, coaching supervision and team coaching to a global client base through a global network of associates.
Scott Greenberg, Chief Executive Officer of GP Strategies, stated, “We believe that there will be growing demand for leadership training and organizational development services. Bath Consultancy Group’s capabilities, reputation, and global delivery network will increase our ability to deliver those services to our clients throughout the world.”
To learn more about Bath Consultancy, visit http://www.bathconsultancygroup.com.
About GP
GP is the principal operating subsidiary of GP Strategies Corporation (NYSE: GPX). GP is a global performance improvement solutions provider of sales and technical training, e-Learning solutions, management consulting and engineering services. GP’s 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 http://www.gpworldwide.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.
Contacts:
Scott N. Greenberg
Chief Executive Officer
(410) 379-3640
Sharon Esposito-Mayer
Chief Financial Officer
(410) 379-3636
Jamie Coffey
Director, Communications
(443) 255-3400