Chiefs may get £8m each

Cable Management's two senior executives, managing director Mr Ray Doyle and finance director Mr Steve Keaveney, will be the main individual beneficiaries of the company's sale. No financial details of the deal have been disclosed and neither side is saying if it is an all-cash deal or if shares are involved. But with an expected sale price of some £80 million (€102 million) - based roughly on industry norms - both Mr Doyle and Mr Keaveney will have received about £8 million as each held a stake of just under 10 per cent. Mr Doyle is a former Independent Newspapers journalist and executive, while Mr Keaveney is a US national and the son of company founder Mr Tom Keaveney.

Another beneficiary is the CMI chairman and former IDA managing director, Mr Padraic White. Mr White held 2 per cent of the equity, valuing his stake at £1.6 million. Company executive Mr John Dennehy received a similar amount for his shares. The bulk of the equity - 75 per cent - was held by two UK venture capital funds operated by Barings and Legal & General, with the latter holding the larger stake with about 58 per cent.