The Irish Times Business Person of the Month: Eamon Waters

Sale of Beauparc Utilities for an estimated €1bn nets him about €367m

 

Eamon Waters has been chosen as The Irish Times Business Person of the Month for June, an award run in association with Bank of Ireland.

This follows the sale of Beauparc Utilities, the largest waste company in the State, to Australian financial services giant Macquarie. The value of the deal was not disclosed but it was reported to have been in the region of €1 billion. This suggests a windfall of about €367 million for Mr Waters, the group’s founder, based on company filings prior to the deal being announced.

Beauparc owns the Panda and Greenstar waste firms in the Republic as well as operations in the UK and the Netherlands. Beauparc-owned businesses serve more than 340,000 residential, commercial, electricity and gas customers across a portfolio of 40 waste facilities, where more than three million tonnes of waste is processed each year.

Commenting on the transaction, Mr Waters said: “Over 30 years, it has been an honour to see Beauparc grow from a two-person operation in Ireland to a business which employs more than 2,300 people across three markets. Our team has worked tirelessly to build the trust of our clients and the communities we serve. We are pleased to have found a new owner to shape the next chapter of Beauparc’s growth story.”

Mr Waters is expected to step down as executive chairman on completion of the deal.