GP Strategies Corp. subsidiary General Physics (UK) Ltd acquires Ultra Training Ltd

GP Strategies Corporation, the corporate parent of global performance improvement solutions provider General Physics Corporation (GP), announced that GP's wholly-owned subsidiary, General Physics (UK) Ltd, has acquired Ultra Training Ltd, an independent skills training provider located in the United Kingdom.

Ultra generated annualized revenue of $4.5 million for the year ending July 2010 and GP anticipates that the acquired business will be accretive to earnings-per-share in 2011. GP utilized cash-on-hand to fund the acquisition.

Founded more than two decades ago, with a staff of 65 full- and part-time employees, Ultra is a Grade 2 "Good" provider of training as determined by the Office for Standards in Education (Ofsted), the UK regulator of government-funded training providers.

Based in Bodmin, Cornwall with other training centers in Penzance, Bideford, Exeter and Bristol, Ultra provides apprenticeship and private training to over 1,000 learners at any one time in the following occupational areas: administration, management and professional; retailing, customer service, hospitality, hairdressing and beauty therapy; health and social care and childcare.

Ultra is contracted to provide training through the Skills Funding Agency, a government agency of the Department for Business, Innovation and Skills, which funds and regulates adult further education and skills training in England.

Scott Greenberg, Chief Executive Officer of GP Strategies, commented that Ultra prides itself on the quality of training it provides to learners and the high success rates that its learners achieve. This acquisition further expands GP’s capabilities in the South West region of England, helping people and businesses to access the skills training they need to succeed, said Greenberg.

According to Greenberg, the acquisition of Ultra increases GP's 2011-2012 maximum contract value to $15 million per year and places GP in a much stronger strategic position relative to the introduction of minimum contract levels during 2011.

GP is the principal operating subsidiary of GP Strategies Corporation. GP is a global performance improvement solutions provider of sales and technical training, e-Learning solutions, management consulting and engineering services.

GP's solutions improve the effectiveness of organizations by delivering innovative and superior training, consulting and business improvement services, customized to meet the specific needs of its clients. Clients include Fortune 500 companies, manufacturing, process and energy industries, and other commercial and government customers.

Ultra Training has grown to become one of the largest independent providers of training and education in the South West of England.  The company provides a real alternative to the campus based provision of Further Education Colleges and continues to grow.

26th April 2011