Barry O'Callaghan's educational publishing firm Riverdeep has almost trebled in value to more than $1 billion in the 18 months since it went private in a controversial management buyout (MBO).
The increased value means that O'Callaghan, the firm's chief executive, and Pat McDonagh, its founder, each hold stakes that are worth about $330 million. Each of them owns 33 per cent of Riverdeep, which will have earnings of between $65 million and $70 million this year.
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