The business has relationships with more than 4,000 school districts, colleges and universities across the US and Canada, and employs over 300 people.
HIG made the investment alongside the company owners and management to help expand CDI’s core business.
HIG managing director Steve Loose 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 [CEO Saar Pikar], [COO Erez Pilkar] and their team to help build upon the strong platform company that they have established.”
Earlier this month HIG Capital agreed to acquire American Pacific Corporation (AMPAC) in a deal that valued the chemicals manufacturer at $392m.
HIG made an offer of $46.5 per share for AMPAC, which represented a premium of 18.9 per cent over the previous day’s closing price.
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