Abtran signs investment deal with Carlyle Cardinal Ireland
Investment understood to be the biggest by the fund in an Irish company to date
Private equity fund Carlyle Cardinal Ireland has finalised the terms of an investment in Abtran.
Private equity fund Carlyle Cardinal Ireland has finalised the terms of an investment in Abtran, a provider of customer and business process management services.
The terms of the deal were not disclosed. However, it is understood to be the biggest investment by the fund in an Irish company to date.
Abtran’s existing management team, including chief executive Michael Fitzgerald and chief operating officer Pat Ryan, will continue in their leadership roles and are investing further as shareholders in the business.
Abtran, which is one of Ireland’s largest providers of customer and business process management services, employs more than 2,000 people in Cork and Dublin.
The Cork-headquartered, Irish-owned firm announced 100 new jobs at its offices in the IFSC earlier this year.
Abtran chief executive Michael Fitzgerald said the company is continuing its 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.”
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.