One51 acquires British recycling firms

HOLDING company One51 led by high profile businessman Philip Lynch has added to its growing list of operations.

This time the group, which has a significant strategic investment of 26% in NTR, has acquired two British recycling firms, extending its influence in this rapidly growing sector.

It has bought Howarth Metals in Manchester and another called Howcan, which is an offshoot of Howarth Metals.

The group has been extending its links to the waste management and recycling businesses in a number of locations and Mr Lynch has made it clear that he will continue to expand in these key market segments.

It was reported yesterday that the company, which evolved out of IAWS Co-op, is also on the verge of a big deal in the US.

One51 has a diverse range of interests and last year was involved in the public battle for control of shipping group ICG, owners of Irish Ferries.

The bid is currently on hold after investors rejected the joint bid from One51 and Doyle Shipping.

The joint bid emerged after ICG management attempted to buy the company cheaply.

As the battle unfolded property tycoon Liam Carroll also took a substantial minority holding in the group, with ICG’s key land holding on Dublin docks regarded as the jewel in the crown.

However Mr Lynch appears unperturbed by the stalemate and said he was happy to allow events to unfold in their own time.