International agri-services group Origin Enterprises has announced a deal to buy Neo Environmental for an undisclosed sum.
Neo is a multi-disciplinary consultancy business that provides planning, environmental and technical advice to a range of clients, mainly in the energy and infrastructure sectors across the UK and Ireland.
Origin's chief executive Sean Coyle said today's deal aligns with the company's strategy to broaden the group's amenity, environmental and ecological portfolio.
Mr Coyle said the deal also enhances the company's ability to deliver on its 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," Mr Coyle said.
"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," he added.
Origin's CEO said the company completed its €20m share buyback programme this week, which has seen a cumulative €60m returned to shareholders via share buybacks in the last two years.
"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 added.
