GP STRATEGIES COMPLETES ACQUISITION OF SANDY CORPORATION
General Physics Corporation completed its acquisition of Sandy Corporation (Sandy), a leader in custom product sales training and part of the ADP Dealer Services division of Automatic Data Processing, Inc. The purchase price at closing was $11.7 million. In addition, GP may be required to pay ADP up to an additional $8.0 million, contingent upon Sandy achieving certain revenue targets.
Sandy offers custom sales training and print-based and electronic publications primarily to the automotive industry and generates approximately $60 million of revenue on an annual basis. The acquisition of Sandy will enhance GP’s existing service offerings by adding custom product sales training to its offering mix.
An important feature of this acquisition is that Sandy remains fully staffed to continue delivering client services with the same creative teams and the same leadership. Sandy was acquired as a complete business unit with all the leadership and management intact. For more details, visit: gpworldwide. com.