Ulric has been investing in private companies for over 20 years. He is currently chairman and controlling shareholder in PrepayPower, a pay-as-you-go energy supply business in Ireland with 250,000 customer supply points. His notable past investments include a majority shareholding in disability care home operator Nua Healthcare, acquired in 2015. The service trebled in size under his ownership, to 50 homes and 1,750 staff, and was sold to Icon Infrastructure in 2020. As a founding partner of Ion Equity, he led its buyout of SWS Energy in 2006, building it to become Ireland’s leading wind energy developer on its sale to Bord Gais Energy in 2009 for €550m. He also led Ion’s investment in Ocean Media, a UK magazine and exhibitions business, which he bought from Trinity Mirror plc in 2006 and sold to private equity in 2007 for £107m. He subsequently bought Ocean Media back in a personal capacity in 2011 and rebuilt it before selling again in 2015. He also led Ion’s investment in Irish outsourcing business SouthWestern, which was sold to Capita plc in 2014.
Prior to co-founding Ion Equity in 2000, Ulric worked in transaction services in PricewaterhouseCoopers London and in audit roles with that firm in Toronto and Waterford. He is a fellow of the Institute of Chartered Accountants in Ireland.
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