Elkridge, MD, April 8, 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 Marton House PLC, a provider of custom e-learning content development with expertise in leadership and sales product training. Marton House generated revenue in excess of $4 million for the year ending December 31, 2009 and GP Strategies anticipates that the acquired business will have increased revenue and be accretive to earnings-per-share in 2010. GP utilized cash-on-hand to fund the acquisition.
Established in 1986 and located in Bournemouth, UK, Marton House has a reputation for exceptional customer satisfaction and the provision of engaging learner experiences. It delivers award winning blended learning solutions to FTSE 250 companies. Its primary services include the creation of e-learning training material in the areas of people development, performance management, technology and client specific systems, processes and products integrated with a proprietary learning management system and the provision of resources to conduct and support face to face training for all levels of personnel.
Scott Greenberg, Chief Executive Officer of GP Strategies, stated, “We continue to focus on our key initiative of pursuing selective acquisitions of businesses that enhance our service and product offerings on a global basis. We believe that Marton House’s capabilities, combined with their industry experience, increase our ability to deliver services to our customers throughout the world.”
To learn more about Marton House, visit http://www.martonhouse.co.uk/.
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