The €6.6 million buy-out went through last year. Boutique Irish equity fund Duke Capital took over the successful freight and logistics group Independent Express Cargo (IEG). Tied into the acquisition of the west Dublin business was IEG’s majority stake in distribution service the Pallet Network, which describes itself as “the number one freight distribution service for palletised goods in Ireland”. At the time of the sale, the freight distributor was in rude health. Founded in 1983 by former EY Entrepreneur of the Year finalist Owen Cooke, IEG grew to employ over 70 staff and had annual revenues of up to…

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