Toshiba America Energy Systems Corporation has acquired EtaPRO® business from GP Strategies Corporation
Toshiba America Energy Systems Corporation (TAES) will acquire the rights to the EtaPRO name and brand as well as the entirety of GP Strategies’ interests in the EtaPRO software platform. Upon closing, TAES will integrate EtaPRO employees into its operations and will continue operating existing EtaPRO office locations.
As a long-time partner of GP Strategies, Toshiba ESS has been deploying EtaPRO technology to many of its power generation customers. Toshiba ESS understands the value of EtaPRO technology and is eager to incorporate EtaPRO into its global cyber-physical systems and digital transformation strategy.
“EtaPRO is a perfect complement to our product portfolio and we’re thrilled to welcome them to our team,” said Takao Konishi, Director and Senior Vice President at Toshiba ESS. “By bringing Toshiba ESS and EtaPRO together, we’ll significantly expand our suite of power generation services and digital solutions to our clients worldwide.”
Toshiba Group’s is currently in phase 2 of its strategic “Toshiba Next Plan,” which emphasizes strong growth through infrastructure services. This acquisition will enable TAES and Toshiba ESS to provide one-stop solutions with greater service efficiency to its customers through the integration of digital technologies from the EtaPRO platform. This new offering will enhance Toshiba’s current servicing and maintenance solutions for turbines and equipment for power generation.
Closing of the transaction is subject to customary closing conditions, including a review by the Committee on Foreign Investment in the United States (CFIUS), and is anticipated to occur by the third quarter of 2021.
Lincoln acted as the exclusive financial advisor to Toshiba ESS on this transaction.
About 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 in the Americas, including thermal, hydro and nuclear power plants. Part of the ESS within Toshiba Corporation, TAES is proud to provide high-quality, reliable and cost-effective products and services that address current and future power generation needs. For more information, please visit www.toshiba.com/taes.
About Toshiba Energy Systems & Solutions Corporation
Toshiba ESS is a leading supplier of integrated energy solutions. With its long experience and expertise in a wide range of power generating and transmitting systems and energy management technology, the company delivers innovative, reliable and efficient energy solutions across the globe. Toshiba ESS split off from Toshiba Corporation (TOKYO: 6502) in October 2017. For more information, please visit www.toshiba-energy.com.
About GP Strategies
GP Strategies 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.
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 gigawatts of generation in 40 countries, including thermal, geothermal, hydro, wind and solar generating technologies. For more information, please visit www.gpstrategies.com/solutions/technical-performance/technical-workforce-performance/etapro.
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