CHANGE OF OWNERSHIP FOR LORIEN ENGINEERING

Midlands-based engineering design and project management firm Lorien Engineering Solutions (LES) has announced that the company’s shareholding has been acquired by GP Strategies Corporation (GP Strategies) for an undisclosed sum, with effect from 12th June 2013.

There will be no management changes at LES, and it is very much business as usual. The company has its main operations in Burton on Trent UK and Wroc?aw Poland, and delivers manufacturing projects in the brewing, drinks, food and life sciences industries.

The announcement follows a consistent period of growth for LES; the firm enjoyed its highest grossing year to date in 2012 and during the last 12 months has grown its workforce by 35%.

Steve Slater, managing director at LES, comments, “We believe that with GP Strategies as new shareholders, our clients and staff will benefit from the scale and internationalism of the GP Strategies business. The financial strength of GP Strategies will provide everyone with additional comfort and confidence for longer term relationships with Lorien Engineering Solutions, and will provide continued growth opportunities for the business.”

GP Strategies is quoted on the New York Stock Exchange (NYSE: GPX) with a market capitalisation of over $400m. The company specialises in the Support Services sector and focuses upon performance improvement solutions and engineering services for its global customers.