CDI Corp. (NYSE: CDI), a Philadelphia-based provider of IT and engineering staffing, sold its UK-based subsidiary, CDI AndersElite Ltd., to the Anders management team and employees.

Anders provides staffing and recruitment services to firms in the UK built environment and rail industries. CDI will maintain a minority interest in the new entity, AndersElite Holdings Ltd.

In the transaction, CDI recieved approximately $6.0 million of cash, subordinated debt in AndersElite Holdings of approximately $2.3 million and warrants representing 19.99% of the fully diluted equity in AndersElite Holdings. AndersElite Holdings also repaid approximately $900,000 of existing Anders debt.

Anders was part of CDI’s enterprise talent segment and represents approximately $43.5 million of the segment's $273.1 million of revenue for the six months ended June 30. The transaction is expected to be marginally accretive to fourth quarter earnings.

CDI’s former President and CEO Scott Freidheim in September resigned from the firm to pursue other, non-competitive business interests; the firm immediately promoted CFO Michael Castleman to president, and he will serve as interim CEO while the board selects a permanent CEO.

“The sale of Anders is consistent with our strategy to focus CDI on delivering solutions based on specialized information technology and engineering talent,” said Castleman. “We are pleased that this transaction provides the clients of Anders with strong continuity in the high quality talent delivery and client service for which Anders is recognized. We look forward to working with the Anders team as partners in their future success.”

CDI ranks No. 20 on Staffing Industry Analysts’ list of largest staffing firms in the US. It also ranks No. 20 on the list of largest US providers of IT staffing and No. 5 on the list of largest US engineering staffing providers.