Police have revealed that Quinn Industrial Holdings Director Kevin Lunney's ordeal began last night when his vehicle was rammed by another vehicle and disabled.
After a press conference in Enniskillen, PSNI Superintendent Clive Beatty said: "Mr Lunney locked himself in the vehicle but four masked men appeared, smashed the windows of Mr Lunney's vehicles, forcibly removed him from the vehicle and bundled him into the boot of a black Audi saloon and drove him away from his home.
"They drove for a period of time to an unknown location whereupon he was removed from the vehicle and savagely beaten about the body."
Superintendent Beatty added: "He sustained severe and brutal injuries to his legs, torso and face.
"After this savage attack he was then bundled into another vehicle and driven for another short period of time and then he was dumped on the side of the road just outside Cavan to fend for himself with his severe injuries."
The officer said a passer-by found Mr Lunney and contacted the emergency services.