An investment firm linked to top Government adviser on infrastructure Seán O’Driscoll has reported a rise in assets to more than €35 million, new financial accounts show.
The former head of Glen Dimplex and ex-chair of the Economic and Social Research Institute (ESRI) is a leading member of the Accelerating Infrastructure Taskforce and has been outspoken on development issues faced by energy, water and transport projects.
The businessman, who stepped down as Glen Dimplex chief executive in 2016, has co-owned the investment firm Roaring Waters Capital Limited with his wife Rose O’Riordan since it was set up in 2013.
New financial accounts published by the company show its net assets rose 18 per cent to €35.2 million at the end of 2025, helped by gains in the value of its investments.
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Net assets rose despite the value of investments held in other companies by Roaring Waters Capital Limited declining from €29.5 million to €27.5 million.
The investments held by O’Driscoll’s firm were primarily made up of €23.9 million of shares in listed companies and a further €3.5 million in other unlisted ventures.
Last year, Roaring Waters Capital Limited made a number of disposals and additions to its investment portfolio, based on the accounts.
The filings said it made a loss of €953,000 on the €25 million of investment disposals in the year, but also added €14.1 million of investments to its portfolio.
Revaluations of its investments also added €8.8 million of value to its stakeholdings, which left its total portfolio valued at €27.54 million at year end.
A large increase in cash held by the company from €13,000 to €7.1 million by year end also influenced the large rise in assets on its books.
The filing by Roaring Waters Capital Limited showed it made a profit of €5.4 million in the year, compared to €9.7 million in 2024, which meant it was sitting on accumulated profits of €35.1 million at year end.
The accounts did not indicate what investments were held in Roaring Waters Capital Limited by O’Driscoll, or the shares he bought and sold in the year.
Company disclosures have shown the firm has a 7.66 per cent stake of Roebuck Food Group. Earlier this year, it also disclosed stakes of 9.27 per cent and 6.55 per cent in Cathal Friel’s ventures European Green Transition and Poolbeg Pharma.
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Malin Corporation separately lists a 10.01 per cent shareholding under O’Driscoll’s name, but does not identify Roaring Waters Capital as the holder.
Last year, shareholder information published by Datalex, the travel software company funded by Dermot Desmond, said O’Driscoll held a 6.11 per cent stake in the firm before it delisted in September 2025.
