KPMG Corporate Finance LLC, a leading middle market investment bank, today announced that it was the exclusive financial adviser to RWD Technologies, LLC ("RWD" or the "Company") on the sale to General Physics Corporation (GP), a wholly-owned subsidiary of GP Strategies Corporation (NYSE: GPX). It is expected that the deal will close in approximately 60 days.
RWD Technologies, LLC is a leading provider of training, operational performance-improvement solutions and strategic consulting services. Headquartered in Baltimore, with offices throughout North America, Europe, and South America, RWD was recently named one of Training Industry's Top 20 IT Training Companies for the third consecutive year, and serves Fortune 500 clients in a variety of industries including manufacturing, energy, automotive, healthcare, and the public sector. General Physics Corporation is a leading global performance improvement solutions provider of sales and technical training, e-Learning solutions, management consulting and engineering services.
"We are very pleased to have advised RWD on the successful sale of its consulting services, training and operational performance-improvement solutions business to General Physics Corporation," said Stephen Guy, Managing Director with KPMG Corporate Finance LLC in Baltimore, who led KPMG's investment banking deal team working with RWD. "We're privileged to have advised the shareholders of RWD on back-to-back sale transactions seeking to maximize the value of the entire business enterprise."
After KPMG Corporate Finance LLC helped RWD successfully divest of its software division in July 2010, RWD's shareholders sought a strategic partner for the legacy training and consulting business that could leverage the company's strong growth prospects, blue-chip customer base, and broad service offerings.
"With last year's sale of our software division to ANCILE Solutions, Inc. and the restructuring of our consulting business, RWD has undergone significant changes over the past year," said Laurens "Mac" MacLure, Jr., President and CEO of RWD Technologies. "As we continued to focus on the growth of our core training and performance improvement services, we felt that a transaction with GP would offer a better growth platform for our business. KPMG Corporate Finance was instrumental in identifying this deal, highlighting RWD's key attributes to prospective acquirers and negotiating a great result for the shareholders."
MacLure added, "KPMG Corporate Finance has been our trusted adviser on both sale transactions, providing constant support and advice throughout the process and was able to deliver a successful transaction that exceeded the shareholders' expectations. The combination of RWD and GP will result in greater market power and a formidable performance improvement consulting firm."
About KPMG Corporate Finance LLC
KPMG Corporate Finance LLC provides a broad range of investment banking and advisory services to its domestic and international clients. Operating in 82 countries, KPMG International's member firms' corporate finance practices (KPMG) comprise more than 2,100 professionals who are able to meet the needs of clients across the globe. As a leading financial adviser, KPMG ranked first globally in 2010 completing 269 deals totaling US$16.5 billion, according to Thomson Reuters SDC's global M&A middle market league tables.
KPMG Corporate Finance LLC, a Delaware limited liability company, is a member of FINRA and SIPC and is registered as a broker dealer with the SEC. KPMG Corporate Finance LLC is a subsidiary of KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. For general inquiries regarding KPMG Corporate Finance, please contact U.S. Leader Phil Isom at 312-665-1911.
About KPMG LLP
KPMG LLP, the audit, tax and advisory firm (www.us.kpmg.com), is the U.S. member firm of KPMG International Cooperative ("KPMG International.") KPMG International's member firms have 138,000 professionals, including more than 7,900 partners, in 150 countries.
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