Tuesday 24 April 2018

O'Flaherty Holdings is one of the country's largest family businesses and booming car sales has seen them generate massive profits in recent years. The company, which imports the Mercedes brand, dates back to 1949, when the late Stephen O'Flaherty inked a deal to make Volkswagen Beetles in Ireland — the first to be put together outside Germany.

The group, which runs Volkswagen, Mazda and Audi dealerships through MSL, had a difficult recession but is now reaping the rewards of a revitalised car industry. Last year, sales were up by 110m, to 460m, as the country's car sales jumped 17.5pc. Around 170m has been paid out in dividends since 2009.

Shares are held by Kildare-based Nigel (79), his daughters Lauren and Nicola as well as by Guernsey-based Michael (85) and Stephen O'Flaherty (55) who lives in a Georgian house set in eight acres in Howth.

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