Carlyle Cardinal fund invests in outsourcing specialist Abtran
An Irish private equity fund established by The Carlyle Group and Cardinal Capital Group, has invested an undisclosed sum in business process management company Abtran.
The deal is subject to approval from the Competition and Consumer Protection Commission and is expected to close in early 2016.
Abtran’s existing management team, including CEO Michael Fitzgerald and COO Pat Ryan, will remain in their roles and are investing further as shareholders in the business.
Cardinal managing director John Dolan, Carlyle managing director Peter Garvey, and Cardinal founder Nick Corcoran will join Abtran’s board.
Abtran chief executive Michael Fitzgerald said the fund, Carlyle Cardinal Ireland, would bring “extensive local and international experience to Abtran which will be of significant strategic benefit to [Abtran] in the future.
The fund has also made investments in Tullamore-based Carroll Cuisine and Kildare-based chocolate manufacturer Lily O’Brien’s.