Elkridge-based GP Strategies to acquire BlessingWhite Inc.
Posted: 1:46 pm Fri, September 14, 2012
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.