Cordovan Capital Partners, one of Northern Ireland’s most active private equity investors has announced the completion of the sale of its investment in TruCorp Holdings Limited to management. The exit represents a 10.4x gross return on investment for Cordovan’s investors.
Cordovan Capital Partners
Founded in 2002, TruCorp designs, manufactures, distributes and sells the most durable and realistic medical training simulators in the world. Cordovan and the management team of Mike Calo and Ryan Colhoun bought TruCorp in October 2016 and since then the company has expanded its product range considerably and experienced significant growth in sales and earnings.
Mike Irvine, Managing Director and Founder of Cordovan, commented, “We feel privileged to have been part of the TruCorp journey and to have worked closely with Mike and Ryan.
“This exit represents a strong return for our investors but also provides the management team with the opportunity to take the business to further heights. We wish the company and the team every success in the future.”