US corporation acquires Lorien Engineering
STAFFORDSHIRE engineering design and project management firm Lorien Engineering Solutions has been acquired by US-based GP Strategies Corporation in an undisclosed deal.
GP Strategies, which has taken on Lorien’s entire shareholding, has said there will be no management changes at the Burton firm and the business will continue to trade as before.
In addition to its main base, Lorien, which employs 70 people, also has an operation in Wrocław in Poland. The firm designs and delivers manufacturing projects to the brewing, drinks, food and life sciences sectors.
The change in ownership 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, said: “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 with a market capitalisation of more than $400m. The company specialises in the Support Services sector and focuses on performance improvement solutions and engineering services for its global customers, which include Fortune 500 companies, manufacturing, process and energy industries, and other commercial and government customers.
