General Physics makes play for training company
Acquisition adds courseware development capabilities
- By Nick Wakeman
- Jan 06, 2010
General Physics Corp. is building out its training portfolio with the acquisition of PerformTech, a Virginia-based company that provides custom courseware development and training services to the government.
Terms of the acquisition, which closed Dec. 30, were not disclosed, but the company used a portion of $20 million private placement by Sagard Capital Partners, company officials said today.
General Physics is the principal operating subsidiary of GP Strategies Corp. The company provides training, e-learning solutions, management consulting and engineering services. Its major government customers include the Air Force’s Arnold Engineering Development Center, and the 30th and 45th space wings.
PerformTech, of Alexandria, Va., develops training solutions supporting border security, anti-terrorsim and highway engineering. The company had $15 million in 2009 revenue. The investment bank KippsDeSanto & Co. served as PerformTech’s adviser on the deal.
The combination of PerformTech’s capabilities with General Physics GoLearn and first responder training should fuel growth opportunities, company officials said.
General Physics is ranked No. 38 on Washington Technology’s 2009 Top 100 list of the largest government contractors.
Nick Wakeman is the editor-in-chief of Washington Technology. Follow him on Twitter: @nick_wakeman.