St. Patrick’s Sale on Consulting Services Market to Boost Performance
Expected to wind up in two months time, the deal between a consulting services firm RWD Technologies LLC and a solutions provider General Physics Corporation initiated by KPMG’s corporate finance arm is expected to bring to the next level the market performance of both firms, according to an executive.
RWD Technologies LLC’s consulting services, based in Baltimore, have been acquired by General Physics Corporation, a subsidiary of GP Strategies Corporation through the business advisory of KPMG, which recently expanded its own consulting arm after buying out the consulting firm Equa Terra.
RWD serves Fortune 500 customers from different industries like energy, healthcare, and manufacturing, while General Physics Corporation has a global leverage on e-Learning solutions, management consulting and engineering services.
According to Laurens MacLure, Jr., RWD’s chairman and managing director, the deal would strengthen the business performance of the company’s consulting services and produce the desired growth for its business platform.
MacLure went on to recognize KPMG’s role in the sale of RWD’s consulting services, which include training and solutions to improve operational performance of businesses. He said KPMG’s involvement has shed a favorable light on RWD’s attributes as seen by the buyers.
In July 2010, KPMG Corporate Finance LLC had served as adviser to the sale of RWD’s software division to ANCILE Solutions, which created a good impression on shareholders for KPMG as an ideal consulting firm to look for a strategic partner for RWD’s consulting services arm.
MacLure added that last year’s divestiture of RWD’s software division and this year’s restructuring of its consulting services have produced several changes to the company.
Meanwhile, Stephen Guy, Managing Director of KPMG Corporate Finance, said the consulting firm was pleased to have made the deal successful and for having advised RWD shareholders on the sale which is expected to “maximize” the firm’s consulting services value. KPMG has exclusively served as adviser to the deal.
In 2010, RWD consulting services made it to the 20 top IT training firms, the third citation it received in three consecutive years.