Houlihan Lokey Advises CDI Corporation

Houlihan Lokey is pleased to announce the sale of Management Recruiters International, Inc., a fully owned subsidiary of CDI Corporation, to Bert Miller. The transaction was closed and announced on May 28, 2019.

CDI Corporation, a portfolio company of AE Industrial Partners, is a multinational company that provides engineering, information technology, and staffing services to clients in a range of industries including energy, chemical, transportation, and financial services. CDI's Management Recruiters International (MRI) business operates MRINetwork, one of the largest search and recruitment organizations in the world, comprised of nearly 400 independent search and recruitment firms. AE Industrial Partners is a private equity firm specializing in aerospace and defense, power generation, and specialty industrial. AE Industrial Partners invests in market-leading companies that can benefit from its deep industry knowledge, operating experience, and relationships throughout its target markets. 

Bert Miller is the Co-Founder and CEO of Protis Global, a leading executive search and advisory firm specializing in the consumer, food, and beverage; cannabis; hospitality; and banking industries. Mr. Miller is an industry veteran with more than 24 years in executive search and talent advisory services. In his new role as President and Chief Executive Officer of MRI, Mr. Miller will dedicate his professional time to MRI.

Mr. Miller said of the transaction: "Protis Global has been a member of MRINetwork since 1995, and today is one of its ten largest members. I understand intimately the challenges faced by independent search and recruitment firms in our rapidly changing industry. I also have direct experience and appreciation for the leadership that MRI demonstrates in enabling such firms to overcome those challenges, through its unique network-centric service model. I am excited to partner with the MRI team to expand that model in support of both our existing members and the broader market."

Houlihan Lokey served as the exclusive financial advisor to CDI. Houlihan Lokey’s Human Capital Management (HCM) team is among the most active M&A advisors in the market, having closed 31 HCM transactions since October 2014, with an aggregate enterprise value of more than $4.3 billion. This most recent transaction further strengthens Houlihan Lokey's leadership in the business services universe and highlights continued momentum and leadership in the HCM sector which includes staffing, recruitment, VMS, MSP, RPO, and PEO.


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