Gerry Killen
MARTIN FITZPATRICK
THE love affair the Irish investing public had with leasing companies is almost forgotten. But nearly two decades ago, Craig McKinney's Woodchester Investments was one of the leading firms on the stock market; Tony Ryan's GPA was writing new rules for aviation leasing; and Cambridge and CLF Yeoman were riding high. But there was another listed leasing specialist - Capital Leasing, under the leadership of accountant Gerry Killen.
Like the rest, Capital (which once boasted a market value of overIR£32m) was felled, but in its case by changes in the rules on deferred tax.
Killen had started Capital Leasing in 1983 after picking up his knowledge of asset-backed deals during a stint in New York. Jim Flavin's DCC backed his market launch in 1988.
But by 1990 the tide had turned for the leasing outfits.
Killen stayed with Capital when it was taken over by Banque National de Paris. But he had found an entrepreneurial spirit and has been involved in an array of businesses since then including the distribution of hygiene products and feeding hungry office workers.
He and his wife Sarah became franchise holders with O'Brien's Sandwich Bars and run a number of these units around Dublin city.
But he has a new string to his bow in recent weeks. He is now running a new company called TechRec Ireland, an offshoot of the Irish Agricultural Wholesale Society, which will handle the disposal and recycling of waste electrical and electronic equipment.
He is also a shareholder in this enterprise that exploits the opportunities thrown up by the European-inspired WEEE regulations.
