Cabair lost their flying approvals, and bought PTC for theirs.
Well, that's a pretty concise and comprehensive misrepresentation of the facts, not least because the CAA does not permit the transfer of approvals from one company to another.
I think you will find that what actually happened was simply that the Cabair approvals were suspended when (and because) the Head of Training departed and were re-instated when Cabair found a replacement. Since the replacement had previously been HT of PTC, those approvals were allowed to expire.