Background: Tedcastle goes from one dynasty to another

  • Background: Tedcastle goes from one dynasty to another
    Independent.t. E.
    The acquisition of the Irving group Tedcastle brings family Reihill 70-year collaboration with the company.
    https://www.independent.ie/business/irish/background-tedcastle-goes-from-one-dynasty-to-another-37239097.html
    https://www.independent.ie/incoming/article37239378.ece/b06b4/AUTOCROP/h342/tedc.jpg

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The acquisition of the Irving group Tedcastle brings family Reihill 70-year collaboration with the company.

The business, originally known as Tedcastle McCormick was bought Reihills in 1951 and initially focused on import and distribution of British coal.

John Reihill – son JP Reihill, who purchased the business attributed the step to start importing cheaper coal from Poland, who came down with consumers.

Over time, the family moved deeper into the oil business, and opened two separate oil terminal in the 1970s.

Later the brand changed from Tedcastles oil products at the top – with the introduction of the green livery, which persists to the present day.

At the turn of the Millennium, John Reihill took control of the business, buying his brother Frank and nephew Shane.

Shane Reihill has had a successful career outside the family business. He is the founder of the investment company TVC holdings, which invested money in the business, including software firm CR2, business hotel, Dalata, and what was known as utv media. The TVC was listed in Dublin and London, but was withdrawn from the stock exchange in 2014, with €91M of assets (cash and UTV shares) distributed to shareholders. Shane Reihill, an avid poker player who participates in international tournaments, just under 30 businesses.

John Reihill, this figure is likely due to the oil price increase died in 2013. He was in the deepwell mansion mode in which the family created a large collection of Irish art.

Th house was sold for € 8 million after his death.

Irish independent obituary of John Reihill described it as “more than just a successful businessman”. “He was a philanthropist, a gregarious host, a sportsman, traveler and most likely a family man.”

Now the Group Tedcastle passes through another family dynasty – Irving.

Arthur Irving – with $4.4 billion according to Forbes magazine – is the Chairman of irving oil, and part of the third generation of the family business.

His grandfather started the business in the late 19th century.

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