Pat Beirne, founder and managing director of the family-owned plastics business, Mergon, has been chosen as The Irish Times Business Person of the Month for December, an award run in association with KPMG.

Established in Castlepollard, Co Westmeath in 1981, the company makes components for car makers such as Tesla, BMW and Jaguar Landrover. Mergon also makes plastic moulding products for companies in other sectors with clients including Abbott, Medtronic, Xerox and Whirlpool.

Private equity

Last month, it secured a multimillion euro investment from British private equity firm Elysian Capital to enable it to expand further into China.

Elysian has taken a majority stake in the Irish group with the Beirne family retaining a significant shareholding. Pat Beirne has committed to stay on and run the business.

No financial details of the transaction were disclosed. However, industry sources described it as “significant”. Elysian typically invests between £20 million and £100 million to acquire stakes in target companies.

Mergon employs 660 people globally, with almost half of them based in Castlepollard.