The deal that sees a fund of US investment firm Blackstone acquire a majority stake in the Dublin high-tech engineering firm Winthrop puts a value understood to be around €800 million on the business. In late 2020, when its founder Barry English began to seek advice on a sale, the figure being floated was €250 million. Why did it take three years to close the deal? And why did the eventual buyer pay three times that amount? The answer lies in the phenomenal growth achieved by Winthrop in the meantime. The 2020 estimates from market analysts and competitors were based…

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