GP Strategies Corporation (NYSE: GPX) announced that on April 15, 2011 its principal operating subsidiary, global performance improvement solutions provider General Physics Corporation (GP), completed its previously announced acquisition of certain operating assets and the consulting business of RWD Technologies, LLC (RWD), a consulting company that enables and drives successful business transformations and front-line effectiveness for Fortune 500 companies. The purchase price at closing was approximately $28 million, which was paid by GP using cash on hand and borrowing under its revolving credit facility. There is no earnout associated with the acquisition. GP Strategies anticipates that the acquired business will be accretive to earnings per share. The acquired business generated revenue in excess of $65 million for the year ending December 31, 2010, and provides consulting, learning and development services in the petroleum, manufacturing, healthcare, automotive and pharmaceutical industries. Most of RWD’s business units will operate within GP as part of a new RWD Technologies Group, while other units will be integrated into existing GP operating groups. The acquisition brings over 350 new employees to GP, and new offices to GP in Atlanta, Baltimore, Cincinnati and Houston in the United States, along with an office in Bogota, Colombia. The operational leaders of RWD, including Patricia Begley, formerly the Chief Operating Officer of RWD, are joining GP as part of the acquisition. Patricia Begley, James Parish, Brian Lapthorn, Gregory Long, R. Butler Newman, James Pickett and Deborah Ung will become officers of GP. In addition, substantially all of the employees in the acquired operating units have been offered employment by GP and are remaining with the acquired business. KPMG Corporate Finance LLC acted as exclusive financial advisor to RWD Technologies, LLC and its shareholders on the transaction. DLA Piper LLP acted as GP's legal advisor on the transaction.