Founded in 1973 and located in LaPorte, Indiana, US, 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 25ft to 2,000ft (7.7-610m). 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 said it 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 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.