CDI Corporation has sold its U.K. operations
Lincoln International (“Lincoln”), a leading global mid-market investment bank, is delighted to have represented CDI Corporation in the sale of its U.K. subsidiary CDI AndersElite (“AndersElite”).
Established in 1966, AndersElite is a 50-year-old recruitment brand, best known for providing technical staff to a prestigious list of leading organisations serving the built environment. More recently, AndersElite has established a strong position in providing safety critical staff to the U.K. rail industry and blue collar staff to complement its core technical offering.
Lincoln acted as the exclusive financial advisor, providing guidance on strategic options, supporting preparation of standalone financial performance, preparing marketing materials and approaching a short list of strategic trade acquirers.
Sheldon Bruha, SVP of Corporate Development & Capital Planning at CDI Corporation, commented, “The sale is in line with our strategy to focus CDI on delivering solutions based on specialized information technology and engineering talent. We would like to thank the Lincoln team, led by Edward Lethbridge, for their professionalism and support. We benefited from their extensive knowledge and experience in the recruitment sector throughout the process.”
Edward Lethbridge, U.K. Head of Business Services at Lincoln, added:
“Lincoln has a strong record across industry groups in advising corporate owners on the sale of non-core subsidiaries. In the recruitment space, we have successfully sold the U,K, operations of TrueBlue Inc. and are delighted to have completed a similar role for CDI Corporation. These were both highly strategic projects and on both occasions we were able to achieve a positive outcome.”
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