CDI, a Portfolio Company of H.I.G. Growth Partners, Acquires LifeSpan
BOSTON – November 6, 2014 – H.I.G. Growth Partners (“H.I.G.”), the dedicated growth capital investment affiliate of H.I.G. Capital, a leading global private equity investment firm, is pleased to announce that its portfolio company, CDI Computer Dealers Inc., has completed the acquisition of LifeSpan Recycling Co., Inc. (“LifeSpan”). LifeSpan is a leading provider of I.T. asset disposition services (“ITAD”) and manages the asset recovery, secure data destruction, recycling and asset remarketing of surplus technology for enterprises nationwide. LifeSpan is CDI’s first acquisition since announcing a strategic investment from H.I.G. in January 2014 and will become a wholly owned subsidiary of CDI’s U.S. operations.
“We are excited to be joining forces with CDI and H.I.G.,” said Dag Adamson, President and Founder of LifeSpan. “This partnership provides LifeSpan significant additional strategic, financial and operational resources to accelerate our growth and expand the scope of services we can provide to our customers.”
“Dag and his team have built a strong brand and reputation in the ITAD market and we look forward to bringing these two companies together,” said Erez Pikar, President of CDI.“Our investment in LifeSpan represents a key step in broadening our overall product and service offering and adds several new facilities to better serve our customers.”
Founded in 2002, LifeSpan is a managed services company providing end-of-life data security, I.T. and electronic asset disposition and asset remarketing services to enterprises, leasing companies, government and non-profit organizations, nationwide. LifeSpan offers organizations the flexibility of handling large quantities of equipment or many locations with a customized program. LifeSpan maintains the highest standards and certifications for data security, environmental protection and ethical business practices. LifeSpan holds additional industry certifications, including NAID AAA, ISO 14001 and e-Stewards. For more information on LifeSpan, please visit the company’s website at www.lifespantechnology.com.
Headquartered in Markham, Ontario, CDI is the leading refurbisher and remarketer of enterprise-grade I.T. hardware in North America. CDI delivers a powerful value proposition to budget-conscious government-funded institutions and private organizations by providing “CDI Certified” product at a significant discount to the cost of new equipment along with the longest warranties in the industry. 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 I.T. assets annually. CDI has over 400 employees and relationships with more than 10,000 education, government, healthcare and private clients 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 more than $17 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, internet and media, healthcare, consumer products and technology-enabled financial and business services. H.I.G. 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.
* Based on total capital commitments to funds managed by H.I.G. Capital and its affiliates.