For more information please contact:
David Farina, CFA
Senior Vice President
Equity Capital Markets
Head of Equity
Senior Vice President
Senior Vice President
Toshiba America Energy Systems Corporation ("TAES"), an affiliate of Toshiba Energy Systems & Solutions Corporation ("Toshiba ESS"), 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.
Roth Capital Partners acted as exclusive financial advisor to GP Strategies.
EtaPRO® is a real-time digital platform for improving the efficiency and reliability of power generating assets through empirical and physics-based digital twin technology combined with traditional vibration frequency analysis for detecting and diagnosing equipment deterioration or operating abnormalities in their earliest stages. EtaPRO is adapted to customer-specific requirements and is used by the global power industry on nearly 700 GW of generation in 40 countries, including thermal, geothermal, hydro, wind, and solar generating technologies.(Source: Company Press Release | 10.06.21)
About GP Strategies Corporation
GP Strategies Corporation (NYSE: GPX) is a global workforce transformation provider of organizational and technical performance solutions. GP Strategies' solutions improve the effectiveness of organizations by delivering innovative and superior training, consulting, and business improvement services customized to meet the specific needs of its clients. Clients include Fortune 500 companies, automotive, financial services, technology, aerospace and defense industries, and other commercial and government customers. For more information, please visit www.GPstrategies.com. (Source: Company Press Release | 10.06.21)
About Toshiba America Energy Systems Corporation
Toshiba America Energy Systems Corporation (TAES), headquartered in West Allis, Wisconsin, with a large manufacturing and service shop, provides turbine/generator equipment and services for the energy industry, including thermal, geothermal, hydropower and nuclear power plants, large-scale battery and hydrogen systems, and superconducting magnet and Toshiba Heavy ion therapy systems. TAES is an affiliate of Toshiba Energy Systems & Solutions Corporation (Toshiba ESS) and represents Toshiba ESS in the Americas, TAES is proud to provide high-quality, reliable and cost-effective products and services that address current and future power generation, cancer treatment and advanced technological needs. For more information, please visit www.Toshiba.com. (Source: Company Press Release | 10.06.21)
About Toshiba Energy Systems & Solutions Corporation
Toshiba Energy Systems & Solutions Corporation is a leading supplier of integrated energy and medical solutions. With its long experience and expertise in a wide range of power generation and, transmission systems and energy management technology, the company delivers innovative, reliable and efficient energy solutions across the globe. Split off from Toshiba Corporation (TOKYO: 6502) in October 2017.(Source: Company Press Release | 10.06.21)
About Roth Capital Partners
Roth Capital Partners, LLC (ROTH), is a relationship-driven investment bank focused on serving emerging growth companies and their investors. As a full-service investment bank, Roth provides capital raising, M&A advisory, analytical research, trading, market-making services and corporate access. Headquartered in Newport Beach, CA, Roth is privately-held and employee owned, and maintains offices throughout the U.S. For more information on Roth, please visit www.roth.com.
Date of Announcement: 10.12.21
The material, information and facts discussed in this announcement other than the information regarding Roth Capital Partners, LLC ("Roth") and its affiliates, are from sources believed to be reliable, but are in no way guaranteed to be complete or accurate. This announcement should not be used as a complete analysis of any companies, securities or topics discussed herein. Additional information is available upon request. This is not, however, an offer or solicitation of the securities discussed. Any opinions or estimates in this announcement are subject to change without notice. An investment in any security based on this announcement may involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Additionally, such investments may involve a high degree of risk and may not be suitable for all investors. No part of this announcement may be reproduced in any form without the express written permission of Roth. Copyright 2021.