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Elkridge-based GP Strategies to acquire BlessingWhite Inc.

GP Strategies Corp., of Elkridge, a provider of training, e-learning, management consulting and engineering services, said it has agreed to acquire Princeton, N.J.-based BlessingWhite Inc., a provider of leadership development and employee engagement training and services.

GP will pay approximately $10 million, funding the purchase with both cash on hand and, if necessary, borrowing under its $50 million revolving line of credit.

BlessingWhite had 2011 revenue of more than $13 million.

The transaction is expected to close within 30 days.

GP said the acquisition will strengthen the professional development services it offers to customers across more than 65 countries.

 

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