Boundary Share Discussion Threads

[lbo] 21/6/2009 21:12

Bank of Ireland seizes property assets of two RQB-owned firms

[lbo] 15/6/2009 20:56

Appointment of Receiver: RQB Malahide Limited

of Receiver: RQB Malahide Limited -06-15/Appointment_of_Receiver_RQB_Malahide_Limited.aspx

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The company that operates Amelia Island Plantation in Florida terminated a $60 million potential equity partnership with Redquartz Developments Atlanta.

Jack Healan, president of the Amelia Island Co., said Redquartz was "unable to fund the partnership transaction within Amelia's required time frame," forcing Amelia Island Co. to terminate the agreement.

[lbo] 24/5/2009 15:40

Stand by for the new rights issue stampede

Other rights issue candidates must include Niall McFadden's Boundary Capital, whose market capitalisation of just €3.5m is a tenth of its net debts of €35m, and house builder McInerney, where the balance sheet has been devastated by repeated writedowns of its landbank. It wouldn't be a huge surprise if Boundary's quoted associated companies Siteserv and Veris were also contemplating infusions of fresh equity.

[lbo] 08/5/2009 09:00

What's in store for Arnotts?

[lbo] 19/4/2009 22:03

State left with 20% stake in Arnotts




Bewley's company goes into receivership

[lbo] 30/3/2009 19:39

Bank of Ireland has seized the Dublin headquarters building of property developer Paddy Kelly's Redquartz company

Kelly asks Anglo Irish Bank to restructure €700m debt

[lbo] 24/3/2009 14:04

Legal action over €10m Smithfield property is adjourned




"The action is against Redquartz (Smithfield) Ltd"

[scruffydave] 19/3/2009 20:35

Is there any hope for this outfit and if so why?

[lbo] 16/12/2008 14:49

Boundary takes 60pc share in building firm

[lbo] 01/12/2008 14:01

RQB seeks loan extension for Dublin site
Neil Callanan


Private equity vehicle RQB, which was set up by developer Paddy Kelly's family vehicle Redquartz and corporate financier Niall McFadden of Boundary Capital, is in talks with investors and banks to negotiate an extension facility for a site it owns at Malahide in north Dublin. The company has met its investors about the extension facility.

"Like all property-related assets funded by debt and equity, the market is very challenging and valuations have dropped. Developers and investors are looking at ways to extend the banking facilities until the market changes. In the current climate, where banks are no longer rolling up interest, the developer and investors are looking at strategies to fund the interest payments and negotiations are ongoing between the company, the investors and the banks on that basis," the company said in a statement in response to queries from this newspaper.

It said its London site, a joint venture with Ballymore, has full banking facilities in place until the end of 2010 and a site at Pelletstown in west Dublin has banking in place until April 2009.

"RQB is managing both of these sites for the long term," the company said.

RQB was established in May 2005, and according to Boundary Capital's 2007 annual report, has 600 clients. The report also said that, in November 2007, Boundary Capital entered a secured loan agreement with RQB, lending €4.3m at a 20%-per-annum coupon. Boundary has an option to have the loan repaid in full with the coupon or to convert the loan into equity in RQB no later than 31 December 2008.

According to its website, RQB clients also invested in the Sawgrass Marriott at Augusta in Florida, a site at Castleknock and the Club company in Britain which operates country clubs. RQB and its investors made a €20.5m profit on the sale of a site at Naas Road in Dublin.

According to the Companies Office, one of the directors of RQB is Simon Kelly, who is also a shareholder in Thomas Read Holdings, the pub and restaurant group that went into examinership last week.

[lbo] 13/2/2008 14:12

Planning decision delays Arnotts revamp

[lbo] 06/12/2007 12:16

Bankers and builders take the hit


In just 160 days, ISEQ has lost 30 per cent of its value. It's like Black Monday in slo-mo ... except much, much worse. Irish stocks seem toxic, with major players dumping their shareholdings in a chaotic charge for the exits. Pinstriped bankers and construction moguls have taken the biggest hit, with millions erased from their fortunes. Louise McBride and Nick Webb list the biggest losers so far

Veris and Siteserv

WOW! Could these propertyservices companies have floated at a worse time?

This time last year, financier Niall McFadden and his investment outfit Boundary Capital were smoking hot. With Veris down more than a third and Siteserv keeling over by about 50 per cent, McFadden doesn't look like such a whizz-kid anymore. The McFadden and Boundary stake in Veris has shed about €6m since June, with a further €7.5m zapped off Siteserv. Siteserv's Brian Harvey has had €8.1m scythed off the value of his shares.

[lbo] 13/8/2007 10:50

Financier Niall McFadden will float his Boundary Capital investment firm in Dublin and London on May 15, raising at least €25 million in funding.

The deal will value the firm at more than €53 million. Boundary holds stakes in a series of firms in different industries and plans to use the new funds to develop those businesses and pursue other deals in Ireland and overseas.

Michael Walsh, the group finance director of NTR and former group finance director of the Musgrave Group, will be a non-executive director of Boundary after the flotation. Paddy Murphy will also join the board of Boundary after the listing.

According to a preliminary filing with the Dublin and London stock exchanges, McFadden and his wife Leisa Benner own 100 per cent of Boundary. However, senior executives, including commercial director Declan Cassidy, are expected to take stakes in the firm as part of the flotation on the Alternative Investment Market in London and the IEX in Dublin.

Boundary is being advised in Dublin by Davy Stockbrokers, which will act as broker to the firm after the listing.

The filing describes Boundary as ''the primary investment vehicle of Boundary Management Limited (BML), an Irish-based investment group led by Niall McFadden''.

The filing lists Boundary's investments as a 9.7 per cent stake in business services firm Veris, a 10.7 per cent stake in building services company Siteserv, a 7.9 per cent stake in Club Company Holdings and a 19.8 per cent stake in Panther Group Acquisitions.

Club Company Holdings operates country clubs in Britain, while Panther Group Acquisitions was the firm recently used to acquire businesses including Prontaprint and CJ Fallon from the Adare group.

Boundary is also finalising a deal to buy ad publisher Buy & Sell and will also co-invest in future transactions sourced by McFadden. McFadden started his business career in Morgan Stanley before working for beef businessman Larry Goodman and oil company Tedcastles.

He advised entrepreneur Barry O'Callaghan on his management buyout of educational publisher Riverdeep, and also advised Richard Nesbitt on the buyout of Arnotts.

McFadden is still heavily involved in Arnotts' property deals, including its planned Northern Quarter development, which will include a revamped Arnotts, shops, apartments and a hotel. Boundary has also formed a property development joint venture, called Redquartz Boundary, with developer Paddy Kelly.


Irish firm to build units next to Florida golf course

[argy2] 07/8/2001 16:29

Big tip/article on Lady in Leisure last year at 45p!

[jcg59] 07/8/2001 15:40

I've just sunk my teeth in your backside

[jcg59] 01/8/2001 16:28

Nick, you are right in most of what you say, but the golf sector is not dead in fact this is one of the richest sports in the world and yes the back office side is fragmented but all it is waiting for is a system that incorporates and gives benefits to the official bodies, the clubs the pros and the players in fact a system that will drag it into the 21st century.

Then you will be eating your words
Watch this space!!!

[jcg59] 01/8/2001 16:20

Mike you should be careful of what you say, words like 'reverse takeover continues' have a habit of coming back and biting you in the backside.