Forklift business Combilift was started in Monaghan 18 years ago by engineers Martin McVicar (44) and Robert Moffett (62). Before the company went private in 2005, it had accumulated profits of almost €23m on a turnover of €53m.
Since then, it has gone from strength to strength with revenues now at €1bn. It is difficult to put a value on the business, which recently opened a new facility built at a cost of €50m.
Combilift currently exports 98pc of its products to 85 countries.
The current workforce stands at 550 with over 200 new jobs being created.
Financial experts have conservatively valued the business at €60m, although it is likely to be worth substantially more.
