Private equity fund Carlyle Cardinal Ireland has finalised the terms of an investment in Irish-owned business process management company Abtran.
The deal, the terms of which are not being disclosed, is expected to close early next year.
Abtran is one of Ireland's largest providers of customer and business process management services and employs over 2,000 people in Cork and Dublin.
Under the terms of the deal, 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.
Meanwhile, John Dolan, Managing Director of Cardinal, Peter Garvey, Managing Director of Carlyle and Nick Corcoran, Cardinal founder will join the board of Abtran.
The company said that the investment is subject to approval from the Competition and Consumer Protection Commission.
Equity for the investment will come from Carlyle Cardinal Ireland, a €292m Irish private equity fund focused on growth capital and buyout investment opportunities across Ireland. Its investors include the Ireland Strategic Investment Fund and Enterprise Ireland.
The fund has also made investments in Carroll Cuisine, Lily O’Brien’s, General Secure Logistics Services (GSLS) and Payzone.
"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," commented Abtran's CEO Michael Fitzgerald.
