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Toshiba Completes Acquisition of GP Strategies' EtaPRO® Business


Digital Transformation

Renewable Energy

Thermal Power

Strategies / Measures

October 5 2021

Toshiba Energy Systems & Solutions Corporation

KAWASAKI,JAPAN- Toshiba Energy Systems & Solutions Corporation ("Toshiba ESS"), a world leader in energy solutions, today announced that Toshiba America Energy Systems Corporation ("TAES"),an affiliate of Toshiba ESS, today completed its acquisition of the EtaPRO® business from GP Strategies Corporation(NYSE: GPX), a global provider of workforce transformation solutions.The acquisition was originally announced in May 2021.

A long-time partner of GP Strategies, Toshiba ESS deploys EtaPRO® technology to many of its power generation customers.This acquisition will enhance Toshiba’s current global servicing and maintenance solutions for turbines and equipment across multiple platforms.TAES will integrate EtaPRO® employees into its operations and will continue operating existing EtaPRO® office locations,retaining EtaPRO®’s valuable talent and culture.Toshiba is now in Phase 2 of its strategic "Toshiba Next Plan," which emphasizes strong growth through infrastructure service offerings.

"This acquisition enables Toshiba ESS to more efficiently meet the needs of customers with EtaPRO®’s digital technologies," said Takao Konishi,Director,President and CEO at Toshiba ESS. "These technologies have always enabled our customers to enhance power generation operations with EtaPRO®’s unique digital solutions,and this acquisition only expands those possibilities."

"Toshiba’s acquisition of EtaPRO® will allow this technology to reach its full potential with a global reach and new functional possibilities," said Richard DesJardins,former GP Strategies Senior Vice President and newly appointed Chief Operating Officer at TAES’s EtaPRO LLC subsidiary. "On behalf of the greater Toshiba family, we are excited to welcome the talented EtaPRO® team to Toshiba," said Koichi Kitaguchi,President and CEO of EtaPRO LLC. "We greatly value their unique industry experience and specialized knowledge."

"We believe that this acquisition will be a strategically positive deal for both Toshiba and GP Strategies," GP Strategies’CEO Adam Stedham. "We look forward to seeing how the EtaPRO® business flourishes with its integration into the Toshiba portfolio."

Outline of new company

Address (Headquarters) 25 Northpointe, Suite 100, Amherst, New York, 14228, US
Representative Koichi Kitaguchi (Director, President and CEO)
Business General business operations of EtaPRO® (Development and Sales)
Established September 2021
Stock Ratio Toshiba Group 100%
Number of Employees Approximately 60

Information in the press releases/news, including product prices and specifications, content of services and contact information, is current on the date of the press announcement / news , but is subject to change without prior notice.

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