Prairie Capital Advisors announces sale of Diedrich Drill

Oakbrook Terrace-based Prairie Capital Advisors Inc., a middle-market investment banking firm, announced that Diedrich Drill Inc. has been acquired by Cape Kauri Partners LLC. Prairie acted as the exclusive financial adviser to Diedrich Drill.

Founded in 1973 and located in LaPorte, Indiana, Diedrich is a manufacturer of Diedrich Drill brand drill rigs and tooling for the geotechnical, environmental, geothermal and groundwater drilling industries. The company manufacturers a range of drill rig models that will typically reach depths from 25 to 2,000 feet. In addition, the company manufactures a variety of tooling including augers, drill rods, soil samplers, among other tooling used in underground site investigation and monitoring activities.

Prairie worked closely with Diedrich Drill's ownership and management team providing advisory services to prepare the Company for sale and manage the marketing, due diligence, negotiation and closing of the transaction. Prairie's transaction team included Tim Witt, managing director and Tom DeSimone, vice president.

Founded in 2015, Cape Kauri Partners LLC is a private equity firm with an investment philosophy based on combining senior management and operating experience in a variety of industries with the financial and investment know-how of private equity professionals. Cape Kauri Partners makes control investments in companies in which they can achieve significant financial, operational and growth improvements.

Prairie is an employee owned company that offers investment banking, ESOP advisory and valuation services to support the growth and ownership transition strategies of middle-market companies. Headquartered in Oakbrook Terrace with offices in Atlanta, Boston, Chicago, Cedar Rapids, Louisville and Philadelphia, the company is an adviser to closely-held companies nationwide.