H.I.G. Growth Partners Completes Strategic Investment in CDI
BOSTON, MA – January 27, 2014 – H.I.G. Growth Partners (“H.I.G.”), the dedicated growth capital investment affiliate of H.I.G. Capital, announced that it has partnered with CDI’s (the “Company”) owners and management team to make a strategic investment in the Company. Founded in 1981, CDI is the leading provider of refurbished technology to the North American education market. The financial terms of the investment were not disclosed.
“H.I.G.’s investment in CDI provides additional resources, capital and strategic guidance that will enable us to expand our product and service offering to even better serve our core education customer base,” said Saar Pikar, CEO of CDI. Erez Pikar, COO of CDI, commented, “We are very excited to have H.I.G. as a partner as they share our vision for the future growth of the business.”
Steve Loose, a Managing Director of H.I.G. said, “Through a combination of both organic growth and strategic acquisitions, we believe there is a significant opportunity to expand CDI’s product offering. We look forward to working with Saar, Erez and their team to help build upon the strong platform company that they have established.”
About CDI Computer Dealers Inc.
Headquartered in Markham, Ontario, CDI is the leading refurbisher and remarketer of enterprise-grade IT equipment to educational institutions. CDI delivers a powerful value proposition to budget-conscious school districts by providing “CDI Certified” product at a significant discount to the cost of new equipment along with a standard 3-year, hot swap warranty that meets or exceeds OEM warranties on new devices. CDI’s product line includes PCs, notebooks, tablets, servers, telecommunication and other technology equipment. The Company holds ISO 9001 and ISO 14001 certifications and processes more than one million assets annually. CDI has over 300 employees and relationships with more than 4,000 school districts, colleges and universities across the United States and Canada. For more information on CDI, please visit the company’s website at www.cdicomputers.com.
About H.I.G. Growth Partners
H.I.G. Growth Partners is the dedicated growth capital investment affiliate of H.I.G. Capital, a leading global private equity investment firm with over $13 billion of capital under management. We seek to make both majority and minority investments in strong, growth oriented businesses located throughout North America, South America and Europe. We will invest $5 million to $30 million in equity in a given company and target investments in profitable growth oriented businesses with between $10 million and $100 million in revenues. We consider investments across all industries, but focus on certain high-growth sectors where H.I.G. has extensive in-house expertise such as technology, healthcare, internet and media, consumer products and technology-enabled financial and business services. Growth Partners strives to work closely with our management teams to serve as an experienced resource, providing broad-based strategic, operational, recruiting and financial management services from a vast in-house team and a substantial network of third-party relationships. For more information, please refer to the H.I.G. website at www.HIGgrowth.com.