H.I.G. Capital News
H.I.G. Growth Partners
500 Boylston Street
Boston, MA 02116
H.I.G. Growth Partners Portfolio Company, CDI Technologies, Completes Merger with Troxell Communications
BOSTON – July 18, 2019 - H.I.G. Growth Partners ("H.I.G."), the dedicated growth capital investment affiliate of H.I.G. Capital, has announced the merger of its portfolio company, CDI Technologies (“CDI”), the leading provider of recertified technology, white glove services and device lifecycle management to the North American education vertical, with Troxell Communications (“Troxell”), the leading end-to-end solution provider of technology solutions for education in the US. Troxell-CDI will become the premier education technology solutions provider servicing North America.
The merged company will leverage the scale, broad portfolio of product offerings and classroom technologies from over 500 vendors to better service students and educators. It will bring together over 175 experienced sales professionals to service over 70 million students in 50 states, Puerto Rico, DC and Canada, and aims to bring its customer-led, best of breed education solutions to every educational institution across North America.
"CDI and Troxell are highly complementary and together create a powerhouse in the education technology space," said CDI CEO, Erez Pikar. "This merger expands the depth and breadth of our offering, doubles our sales reach and support into the education space, and establishes a scalable platform for future growth."
"Both companies share a commitment to inspiring and forming long-term relationships with educators at the local level, which in some cases span over 50 years. We believe that Troxell-CDI will enable us to offer a broader portfolio of leading brands and end-to-end technology solutions, and deliver an even higher level of personalized service and value to our customers," said Mike Ruprich, Troxell CEO.
Steve Loose, a Managing Director with H.I.G., added, “We are very excited about the Troxell-CDI combination. Both companies have a long history of supporting the advancement of K-12 education through the use of technology. H.I.G.’s experience and track record of success in merger integration will be very helpful to the success of the combined business.”
About CDI Technologies
CDI Technologies, incorporated as CDI Computer Dealers Inc., has been selling IT hardware and software solutions to schools since 1981. CDI's mission is to simplify the purchase process and support educators by deploying proven, best-in-class technology, backed by lifecycle support and training. Its classroom-ready ecosystems empower educators to connect students to a love of learning and a lifetime of achievement. For more information, visit https://cditechnologies.com/
About Troxell Communications
Headquartered in Phoenix, AZ, Troxell is the nation's leading end-to-end solution provider for technology and collaborative solutions in K-12 and higher education. With a national field presence, they combine large-scale purchasing power with the high-touch, consultative approach of a local specialist. For more information, visit https://www.troxellsolutions.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 $31 billion of equity 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 $75 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.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.