GP Strategies Buys Lorien Engineering Solutions, No Terms Disclosed
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.
o Founded in 1985 with offices in Burton-on-Trent UK and Wroclaw, Poland o Generated in excess of $11 million (or £7 million) in revenue for 2012 o 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
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