Michael O'Flaherty and family
Car sales, Plant hire
A 27% rise in sales of Mercedes-Benz cars helped profits jump 35% to €28m at Dublin-based O’Flaherty Holdings, which holds the Republic’s franchise for the brand. It also owns car showrooms and the Mr Plant equipment hire business in the UK. Last month it sold Time Manufacturing, a Texas-based maker of aerial lifts, to a private equity firm in Houston. The company has assets of €323m and is worth €603m. It is almost 50%-owned via Dark Investments in Guernsey where Michael, 85, is based. His nieces, Dublin-based Lauren O’Flaherty and France-based Nicola Little, own 28%. Other members of the third generation of the family have stakes in the business; north Dublin-based Stephen O’Flaherty, 55, owns 15% and Michael O'Flaherty, in Texas, has 2.6%. Dividends, including €8m in 2015 and €1.5m director fees, add €190m to the family wealth.