CCI exits Abtran in management buy-back

CCI is a joint-venture fund set up by Ireland-based Cardinal Capital and The Carlyle Group. The fund closed on €292m in 2014 and has already realised three assets, according to Unquote Data.

The company will be acquired by a consortium headed by co-founders Pat and Michael Fitzgerald. Michael Fitzgerald is currently the director of the company.

Bank of Ireland is rolling over its debt for this deal, according to a report by the Irish Times. 

Previous funding
CCI invested in Abtran in 2015 for a sum reportedly greater than €40m. The cash injection was for the company's facilities, technology, skills and resources. Bank of Ireland provided debt financing for the deal.

Company
Founded in 1997, Abtran provides customer and business process management and outsourcing services. Headquartered in Cork, the company employs 2,350 people in Cork, Dublin, Kildare, Sligo and southern India.

People
Abtran – Michael Fitzgerald (co-founder, director).

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• Exits
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• Carlyle Group
• Management buyback