INVESTMENT firm One51 was back in the news last week when it announced plans to float its environmental services unit. While an initial public offering is unlikely this year, One51 could do with a good news story for its shareholders. Philip Lynch announced at the AGM that One51 has over €200m in undrawn credit available to fund acquisitions. Lynch did not comment on speculation that One51 might seek to acquire the 29.9% stake in Irish Continental Group (ICG) held by developer Liam Carroll, who on Friday lost a High Court examinership application. One51 shares its stake with Doyle Shipping, which may have its own agenda given the debt the Doyle Group took on when acquiring the shares.

Kevin Beary is managing director of Dolmen Corporate Finance.

Emmet Oliver is away