Galway businessman Enda O’Coineen agrees deal to buy the Sunday Business Post

Enda O’Coineen
Enda O’Coineen

The Sunday Business Post newspaper has been sold to Galway born businessman Enda O’Coineen’s Kilcullen Kapital Partners.

It comes almost 12 months after current owner Key Capital put the business up for sale. 

In a statement confirming the sale agreement, Sunrise Media, the company behind the Sunday Business Post, said it expects to be profitable in 2018 and that “no significant changes are anticipated” before what it expects to be a strong final quarter of the year.

Enda O’Coineen is a former journalist and previously publisher of titles including sailing magazine Afloat.

His ventures include setting up the Czech & Slovak Credit Bureaus, mortgage business SIMPLY and the hugely profitable Globix Telecom as Central Europe deregulated and moved to free market systems.

The most recent accounts filed for Post Publications Ltd, which has since been shifted into Sunrise Media, show the newspaper publisher swung to a pre-tax loss of just over €520,000 in its last financial year – ended June 2017, following a pre-tax profit of €5,529 the previous year.

Key Capital bought the newspaper out of examinership in 2013. The investment company is chaired by Conor Killeen, a former chairman of NCB Stockbrokers.

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