Carlyle Cardinal Ireland invests in Cork-based Abtran
Carlyle Cardinal Ireland (CCI), the Irish private equity fund announced that it has finalised the terms of an investment in Abtran, a provider of Business Process Management services in Ireland.
The terms of the deal were not disclosed, but the transaction is expected to close in early 2016.
Abtran’s existing management team, including CEO Michael Fitzgerald and COO Pat Ryan, will continue in their leadership roles and are investing further as shareholders in the business.
Michael Fitzgerald, CEO, Abtran said, “CCI is the largest equity investment fund in the Irish market and brings extensive local and international experience to Abtran which will be of significant strategic benefit to us in the future. Abtran is continuing its successful growth and development including major investments in facilities, technologies, skills and resources. We are also growing our IFSC-based Consulting and Technology Services Division which forms an important part of our future. The CCI investment provides access to capital which will underpin a strategic and structured growth programme and will also ensure continuing long term career development opportunities for our people.”
John Dolan, Managing Director, Cardinal Capital Group said, “This is CCI’s fifth investment in fast-growing Irish companies in the last two years, reflecting the significant growth opportunities in the Irish market. Michael and the Abtran team have exciting plans for the development of the business in the medium term and using CCI’s network and resources we look forward to working with management to accelerate those growth plans.”
Cork-based Abtran is one of Ireland’s largest providers of customer and business process management services, employing over 2,000 people in Cork and Dublin. Established in 1997, the company has a proven capability in delivering transformative service solutions to public and private sector clients across multiple sectors.
Carlyle Cardinal Ireland has also made investments in Tullamore-based Carroll Cuisine, Kildare-based chocolate manufacturer Lily O’Brien’s and Irish cash management solutions provider General Secure Logistics Services and Payzone, the largest provider of multi-channel consumer payments across Ireland.
