Item 8.01 Other Events
On January 8, 2020, GP Strategies Corporation ("GP Strategies") announced that
it closed the sale of its Alternative Fuels Division effective January 1, 2020
pursuant to an Asset Purchase Agreement with Cryogenic Industries, LLC. The
purchase price is up to $6 million, subject to adjustment based on a final
calculation of net working capital as defined in the asset purchase agreement.
Up to $0.5 million of the potential purchase price is subject to the achievement
of certain milestones under an assigned contract. The purchase price adjustment
for closing net working capital is expected to be finalized during the second
quarter of 2020. In addition, the sale proceeds will be reduced by taxes,
expenses and other fees and commissions payable in connection with the closing
of the transaction. A copy of the press release issued by GP Strategies
announcing the transaction is attached hereto as Exhibit 99.1 to this Form 8-K.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
99.1 Press release dated January 8, 2020 titled "GP Strategies Divests its
Alternative Fuels Division."
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GP STRATEGIES CORPORATION 
