Business World (Ireland) Ion Equity consortium buys Irish Shell
“A consortium led by venture capital firm Ion Equity has acquired Shell’s businesses in Ireland. The financial terms of the deal were not disclosed, but the company will continue to trade as Shell in Ireland.”
Friday 15 July 2005
(BizWorld)
A consortium led by venture capital firm Ion Equity has acquired Shell’s businesses in Ireland.
The financial terms of the deal were not disclosed, but the company will continue to trade as Shell in Ireland.
Irish Shell owns six oil importation facilities in Dublin, Cork, Limerick, Galway, Derry and Greenore; 35 local distribution depots geographically spread across Ireland; 55 retail service stations and also supplies 105 independently-owned service stations.
It sells gas oil, diesel, kerosene, fuel oil and lubricants into all sectors of the market, both directly and through a countrywide network of authorised distributors.
The consortium has formed a company called Topaz as the vehicle for the acquisition, which will be chaired initially by Ion boss Neil O’Leary, while former managing director of Emo Oil, Danny Murray, will be chief executive of the business.
“We are confident that this business will continue as a profitable and growing enterprise well into the future,” O’Leary said.
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