Irish agri-services group Origin Enterprises has announced the acquisition of UK group Neo Environmental.
Neo is a multidisciplinary consultancy business that provides planning, environmental and technical advice to a range of clients, primarily in the energy and infrastructure sectors across Britain and Ireland.
Origin chief executive Sean Coyle said: “The acquisition of Neo Environmental aligns with our strategy to broaden the group’s amenity, environmental and ecological portfolio and enhances our ability to deliver on our ambition of promoting sustainable land use.
“In addition to clients in the energy and infrastructure sectors, as subsidy regimes change, we expect farmers will continue to assess alternative uses for less productive agricultural land.
“Neo, in conjunction with our existing ecological specialist business Keystone Environmental, will ensure we are positioned to provide an enhanced range of consulting and advisory services.”
Following the completion of Origin’s €20 million share buyback programme this week, which has seen a cumulative €60 million returned to shareholders via share buy-backs in the last two years, Mr Coyle said further acquisitions could be expected.
“We expect our near-term capital deployment will be focused on further bolt-on acquisitions, strategic capex to drive organic growth and our progressive dividend policy,” he said.
Origin shares were little changed, dropping 0.3 per cent to €4.18 in Dublin.
