The pupil surpasses the master

John Teeling, the veteran investor, was always a mentor of sorts to his neighbour Colm Lyon, who this week sold Realex Payments for about €115 million. About €90 million of it is destined for the pockets of Lyon and his wife, Niamh.

Teeling, who had his own big payday in 2011 when he sold Cooley Distillery to Jim Beam for €71 million, says he is delighted for his friend.

“The day I moved into my house in Clontarf, in 1972, I got a knock at the door,” said Teeling. “Here was this little fellow, aged about eight or nine, asking me did I want to buy a paper. Colm was the most natural entrepreneur I ever saw.”

Teeling Whiskey, the family’s new distillery in Dublin’s Liberties, distilled its first drop of the good stuff on Thursday morning. Something with which to toast Lyon’s success when next they meet.