THE DEATH occured at the weekend of one of Ireland's foremost business figures, Dr Tim Mahony of the Killeen Group.

The group's businesses include Toyota Ireland, Lexus Ireland, Mount Juliet Estate and Ballylinch Stud.

Mahony controlled the Toyota franchise in Ireland from the 1970s, turning it from a small Japanese brand competing on the Irish market against dominant established brands like Ford and Opel into Ireland's market leader.

He was also the developer of the Mount Juliet complex in Co Kilkenny, and a philanthropist who gave particular support to music and sport.

A fellow director of Killeen Group Holdings, Joe McCabe, yesterday described Mahony as "an extraordinarily successful and astute businessman" and a "very humorous man".

Mr McCabe said he had known Tim Mahony for 50 years and that they had served together on the board of the IDA for nine years, from the mid-1980s to the early 1990s.

"He was a wonderful Irishman and a great contributor. He was very shrewd and very good at understanding the potential for business in Ireland. His death is a tremendous loss to Ireland and to business."

McCabe said that while other car franchise holders had relinquished their franchises in recent years, Toyota had not sought to move against Mahony "because he was number one in the market".

Tim Mahony and his brother Denis bought the Toyota franchise from Stephen O' Flaherty of Motor Distributors in the early 1970s. The two brothers subsequently separated, with Tim retaining the franchise and Denis operating a number of garages.

Mahony was born in Dublin and worked in the Civil Service before starting his career in private business. He played football for St Vincent's GAA club and for Dublin.

His lifelong love of classical music lay behind his sponsorship of music over the years. He was a patron of the world music centre at the University of Limerick, the Helix Centre at Dublin City University, where the main auditorium is named the Mahony Hall, and the National Youth Orchestra.

The president of the University of Limerick, Dr Don Barry, said Dr Mahony supported the development of the Irish World Centre for Music and Dance at the university with an infectious enthusiasm for Irish music and culture".

He hosted three Irish Open Golf Championships and two American Express World Golf Championships (2002 and 2004) in Mount Juliet. He also led Toyota Ireland's sponsorship of Munster Rugby for the past four years.

A life long supporter of the GAA, this year he oversaw Toyota Ireland's sponsorship of the All Ireland Football Championships.

Dr Mahony is survived by his wife Maeve, daughters Joan, Jenny, Sarah and Mary, his brother Denis and sisters Joan and Mary.