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GP Strategies to Acquire Leadership Development Firm

Elkridge, Md. — Sept. 14

Global performance improvement services provider GP Strategies Corp. announced it has signed an agreement to acquire leadership development firm BlessingWhite.

The acquisition will aim to strengthen GP Strategies’ ability to deliver comprehensive global leadership and professional development services across its customer base. The transaction is expected to close within the next 30 days.

Under the terms of the agreement, the purchase price is roughly $10 million. Completion of the acquisition is subject to customary conditions, including obtaining certain consents and agreements. GP Strategies expects to pay for the acquisition using cash, and, if necessary, borrowing under its $50 million revolving credit facility.

Christopher Rice, BlessingWhite’s CEO, said: “We are very excited at the opportunity to bring our expertise and our research-based solutions to a much broader audience as part of GP Strategies.”

Source: GP Strategies