CDI Corporation

Last updated
CDI Engineering Solutions
Company type Private
IndustryEngineering, Technology, Staffing
Founded1950
Headquarters
Houston, Texas
,
United States
Key people
M. Stephen Karlovic, President & CEO
RevenueDecrease2.svg $ 985 million (FY 2015) [1]
Decrease2.svg $ -28.596 million (FY 2015) [1]
Decrease2.svg $ -37.003 million (FY 2015) [1]
Total assets Decrease2.svg $ 339.097 million (FY 2015) [1]
Total equity Decrease2.svg $ 221.243 million (FY 2015) [1]
Number of employees
900 (December, 2015) [1]
Website www.cdiengineeringsolutions.com

CDI Corporation is a privately held US company providing engineering, procurement, construction management and staffing services to clients in a range of industries including energy, chemical, semiconductor and battery manufacturing. As of 2022, the company employed more than 450 employees. The company is headquartered in Houston, TX.

Contents

History

CDI Corporation was founded in Philadelphia in 1950 as Comprehensive Designers, Inc. [2] The company provided temporary technical services to manufacturing industries, including servicing the growing automotive and defense industries. In 1956, Walter R. Garrison, an aerospace engineer with Boeing, joined the company as its Chief Engineer. In 1961, Garrison and two colleagues bought the company, and Garrison became CEO. [2]

In 1972, the company diversified into the field of job placement by buying Management Recruiters International, a firm that focused on providing permanent management talent for clients. [3]

In 1973, Comprehensive Designers, Inc. changed their name to CDI Corporation. [2] The company became listed on the New York Stock Exchange in 1988.

In 1991, the company began further diversification into temporary staffing services of clerical and unskilled workers by acquiring temporary placement agency Today's Staffing. [4] By the end of 1994, the company reported over $1 billion in revenue in the three core areas of technical services, temporary services and Management Recruiters, with approximately 3,000 customers. [5]

Combining acquisitions of engineering firms Stubbs, Overbeck & Associates, AWARE Engineering and others, CDI formed CDI Engineering Group (now CDI Engineering Solutions) in 1996. [2]

In March 1997, the company elected Mitch Wienick to the position of CEO and President, to replace the retiring Walter Garrison. Garrison remained on the company's board of directors. [2] In 1999, CDI purchased executive headhunting firm Humana International, further expanding its mid-level management search and recruitment services through the addition of Humana's 136 franchised offices in Europe and Asia. [2] In 2001, Mitch Wienick announced his retirement and Roger H. Ballou was elected as CDI's new president and CEO. [2] In 2003, CDI announced the acquisition of AndersElite, a United Kingdom-based provider of building and construction professionals on a permanent and temporary basis. In September 2007, the company announced the sale of Today's Staffing to Spherion for $40M. [6]

In July 2010, the company announced the acquisition of L. Robert Kimball & Associates, Inc. (L.R. Kimball), a 550-person professional services firm that provided architecture, civil and environmental engineering, communication technology and consulting services. The firm was integrated into CDI Engineering Solutions. [7]

In 2011, Paulett Eberhart, a veteran of Electronic Data Systems, was announced as CDI's new president and CEO, replacing the retiring Roger Ballou. [8] In August 2014, the company announced a new CEO, former Investcorp, Sears and Lehman Brothers executive Scott J. Freidheim. [9] In October 2015, CDI acquired Boston, Massachusetts-based EdgeRock Technologies LLC, a private IT staffing company, for $30 Million. [1] In September 2016, CEO Scott Freidheim resigned, and chief financial officer Michael Castleman was promoted to president and CEO. [10] In September 2016, CDI sold its UK-based subsidiary, CDI AndersElite Ltd. ("Anders"), to the Anders management team and employees. [11]

In 2017, CDI Corporation was taken private by AE Industrial Partners, LLC; at the time of the transaction, it traded in the NYSE under the "CDI" ticker. [12] In December 2017, Belcan, Inc. an AE Industrial Partners platform company, acquired CDI's Aerospace and Industrial Equipment business line. [13]

In September 2018, AE Industrial Partners acquired Gryphon Technologies and combined it with CDI Government Services, which consisted of CDI Marine Company and CDI M&T Company. [14] Gryphon Technologies was subsequently acquired by ManTech International. [15] In October 2018 Artech acquired the talent and technology services business unit of CDI. [16]

In May 2021, CDI Engineering Solutions sold its transportation engineering and architecture division known as L.R. Kimball to TranSystems in order to focus on its core chemicals and energy industrial business. [17]

In February 2022, CDI relocated its headquarters to Houston, TX. [18]

Divisions

CDI Corporation now operates with one business unit: CDI Engineering Solutions

Related Research Articles

<span class="mw-page-title-main">PTC (software company)</span> U.S.-based computer software company

PTC Inc. is a computer software and services company founded in 1985 and headquartered in Boston, Massachusetts. The company was a pioneer in parametric, associative feature-based, solid computer-aided design (CAD) modeling software in 1988, including an Internet-based product for Product Lifecycle Management (PLM) in 1998. PTC markets products and services and an Internet of Things (IoT) and augmented reality (AR) platform for partners and developers.

Intersil is an American semiconductor company headquartered in Milpitas, California. As of February 24, 2017, Intersil is a subsidiary of Renesas. The previous Intersil was formed in August 1999 through the acquisition of the semiconductor business of Harris Corporation. Intersil is a power management IC business, with specialized capability in power management and precision analog technology for applications in industrial, infrastructure, mobile, automotive and aerospace.

MSC Software Corporation is an American simulation software technology company based in Newport Beach, California, that specializes in simulation software.

Tecnomatix Technologies, Ltd. is a provider of Manufacturing Process Management and Product lifecycle management software to the electronics, automotive, aerospace and heavy equipment industries, currently owned by Siemens AG. Tecnomatix's eMPower is a suite of end-to-end Manufacturing Process Management solutions for the collaborative development and optimization of manufacturing processes across the extended enterprise and supply chain.

<span class="mw-page-title-main">AECOM</span> American engineering firm

AECOM is a multinational infrastructure consulting firm.

<span class="mw-page-title-main">Dover Corporation</span> American industrial conglomerate corporation

Dover Corporation is an American conglomerate manufacturer of industrial products. The Downers Grove, Illinois-based company was founded in 1955. As of 2021, Dover's business was divided into five segments: Engineered Products, Clean Energy and Fueling, Imaging & Identification, Pumps & Process Solutions and Climate and Sustainability Technologies. Dover is a constituent of the S&P 500 index and trades on the New York Stock Exchange under "DOV." Dover was ranked 445 in the 2023 Fortune 500. The company relocated its headquarters to Illinois from New York in mid-2010.

<span class="mw-page-title-main">Belcan</span> American engineering services company

Belcan, LLC is a global supplier of engineering, supply chain, technical recruiting and information technology (IT) services to customers in the aerospace, defense, automotive, industrial and government sectors. Headquartered in Cincinnati, Ohio, Belcan has over 10,000 employees in 50 locations around the world.

Lear Siegler Incorporated (LSI) is a diverse American corporation established in 1962. Its products range from car seats and brakes to weapons control systems for military fighter planes. The company's more than $2 billion-a-year annual sales comes from three major areas: aerospace-technology, automotive parts, and industrial-commercial. The company, however, is basically anonymous, since its products are either unmarked or bear only the label "LSI". Lear Siegler went private in 1987.

Spectris plc is a supplier of precision instrumentation and controls. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

ManTech International Corporation is an American defense contracting firm based in Herndon, Virginia. It was co-founded in 1968 by Franc Wertheimer and George J. Pedersen. The company uses technology to help government and industry clients. The company name "ManTech" is a portmanteau formed through the combination of "management" and "technology."

Microsemi Corporation was an Aliso Viejo, California-based provider of semiconductor and system solutions for aerospace & defense, communications, data center and industrial markets.

Tetra Tech, Inc. is an American consulting and engineering services firm based in Pasadena, California. The company provides consulting, engineering, program management, and construction management services in the areas of water, environment, infrastructure, resource management, energy, and international development. Specific services for consulting and engineering projects include applied science, information technology, engineering, design, construction management, and operations and maintenance.

<span class="mw-page-title-main">Swales Aerospace</span>

Swales Aerospace was an employee-owned, small business aerospace engineering firm. The company offered a full range of aerospace engineering services. It was the global leader in the development and manufacture of two-phase thermal solutions for spaceflight applications, and it was a small satellite mission provider. In 2007, it was acquired by Alliant Techsystems.

Calian Group Ltd. is a Canadian company that was founded in 1982 as an Ottawa-based consulting firm. The company went public in 1993 and is traded on the Toronto Stock Exchange (TSX) under the symbol CGY.

NetWitness is a network security company that provides real-time network forensics automated threat detection, response, and analysis solutions. The company is based in Bedford, Massachusetts. In 2011, NetWitness was acquired by EMC Corporation and in 2020 was acquired by Symphony Technology Group as a stand-alone business unit, part of RSA Security.

Siemens Digital Industries Software is an American computer software company specializing in 3D & 2D Product Lifecycle Management (PLM) software. The company is a business unit of Siemens, operates under the legal name of Siemens Industry Software Inc, and is headquartered in Plano, Texas.

Esterline Technologies Corporation was a publicly traded company that designs, manufactures, and markets specialty products primarily for aerospace and defense customers. The company is best known as a supplier of products and equipment for aerospace companies such as Boeing and Airbus; and for American and allied military forces.

Veritas Capital Fund Management, L.L.C. is a New York–based private-equity firm founded in 1992 that invests in companies providing critical products and services, primarily technology-enabled products and services, to government and commercial customers worldwide. The firm's first fund closed in 1998. They closed an eighth flagship fund in 2022; in all, Veritas has approximately $45 billion of assets under management. Veritas is led by Ramzi Musallam, the firm's Chief Executive Officer and Managing Partner.

Redwire Corporation is an American aerospace manufacturer and space infrastructure technology company headquartered in Jacksonville, Florida. The company was formed on June 1, 2020 by the private equity firm AE Industrial Partners.

<span class="mw-page-title-main">Deltek</span> American software company

Deltek is an American multinational enterprise software and information solutions corporation headquartered in Herndon, Virginia. The company sells software to government contractors, engineering, architectural, accounting, and consulting firms to manage customer information, financial and project accounting, project management, risk management, enterprise resource planning, invoicing, revenue, financial compliance, and expenses. Since 2016, its parent company has been Roper Technologies. Bob Hughes is Deltek’s president and CEO.

References

  1. 1 2 3 4 5 6 7 "CDI Corp. Reports Fourth Quarter and Full Year 2015 Results" (PDF). investor.shareholder.com. Archived from the original (PDF) on 2016-03-10. Retrieved 2016-03-09.
  2. 1 2 3 4 5 6 7 "CDI Corporation History". fundinguniverse.com. Archived from the original on 2013-12-03. Retrieved 2013-11-27.
  3. ↑ "MRINetwork Recruiting Pioneers". mrinetwork.com. Archived from the original on 2013-11-26. Retrieved 2013-11-27.
  4. ↑ "CDI to sell office-temp Dallas unit Todays Staffing will go to Spherion Corp. for $40 million". Philly.com. 2007-09-21. Archived from the original on 2016-03-03. Retrieved 2015-03-19.
  5. ↑ "10-K Annual Report". investor.shareholder.com. 1995-03-02. Archived from the original on 2013-12-03. Retrieved 2013-11-27.
  6. ↑ "Spherion to buy CDI's Todays Staffing unit for $40 MLN". Reuters. 20 September 2007.
  7. ↑ "CDI Acquires L.R. Kimball" (Press release).
  8. ↑ "Eberhart tapped as CDI Corp. Chief". 11 January 2011.
  9. ↑ "CDI Corp. Names Scott Freidheim as Chief Executive Officer" (Press release).
  10. ↑ "CDI Corp. Board of Directors Accepts Resignation of Scott Freidheim, CEO" (Press release).
  11. ↑ "CDI sells UK subsidiary AndersElite to management, employees".
  12. ↑ "CDI Corp. To be Acquired by AE Industrial Partners for $8.25 per Share in Cash" (Press release).
  13. ↑ "Belcan Acquires CDI's Aerospace & Industrial Equipment Business Unit and Certain Related Aerospace Staffing Contracts" (Press release). 12 December 2017.
  14. ↑ "AE Industrial Partners Acquires Gryphon Technologies" (Press release).
  15. ↑ "Mantech completes acquisition of Gryphon technologies". investor.mantech.com. December 10, 2021. Retrieved 30 March 2023.
  16. ↑ "Artech acquires Talent and Technology Solutions business from CDI".
  17. ↑ "TranSystems Acquires Pennsylvania-Based L.R. Kimball" (Press release). 3 June 2021.
  18. ↑ "Relocating CDI Engineering Solutions Headquarters to Houston, Texas". 24 January 2022.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.