one51 acquires ipl

IPL is the holding company of One51’s North American plastics operations. Montréal, July 3, 2015 – The Caisse de dépôt et placement du Québec, the Fonds de solidarité FTQ and Investissement Québec have partnered with One51 to acquire IPL, a Québec manufacturer based in Saint-Damien. “This acquisition with a strategic partner such as One51 will secure jobs at IPL. • IPL’s current capital structure inhibits One51 in its ability to pursue an IPO and Listing. One51 quickly shifted its focus to also acquire IPL’s Retail division, now targeting IPL as a whole. Acquiring Organization: Madison Dearborn Partners MDP seeks to invest in companies in partnership with outstanding management teams and achieve significant long-term value appreciation. The transaction values IPL Plastics at $555m (Canadian) on an equity basis and at $981m on an enterprise basis. The acquisition, made in collaboration with IPL’s parent company One51, and partners Caisse de dépôt et placement du Québec and the Fonds de solidarité FTQ, makes IPL the third largest player in America in the plastic injection molded products market. One51 owns 67% of IPL with the rest held by two Quebec investment funds. IPL is the North American leader in injection-moulded plastic products and solutions for the food and industrial sectors. • One51 is the holder of a 66.67% majority interest in IPL, acquired in July 2015. IPL Plastics - formerly known as One51 - manufactures a range of plastic products, from food containers to wheelie-bins. IPL Inc., a portfolio company of One51 plc, Caisse de dépôt et placement du Québec (CDPQ) and Fonds de solidarité FTQ, has agreed to acquire Macro Plastics, Inc. for US $150 million. The company was taken private by Novacap and Fonds de solidarité FTQ in 2010, and the two investors exited in 2015 through a sale of a majority interest in IPL to One51, an Ireland-based maker of plastic containers. We were successful in convincing Novacap to establish a concurrent process for the whole business and secured exclusivity in June, signed on July 2, 2015 and closed on July 23, 2015. The minority 33.33% interest in IPL is held by CDPQ (22.2%) and FSTQ (11.1%). Former One51 shareholders received one new IPL share for every five existing One51 shares. One51 announced it had agreed on a deal with minority stakeholders in IPL that would see them convert their holding into 47m shares in One51. “The acquisition of Encore together with the [IPL] capital investment program represents a significant step forward in One51’s continued growth in the global plastic packaging market,” noted One51 CEO Alan Walsh in a news release. IPL Plastics IPL Plastics plc is a leading sustainable packaging solutions provider. One51’s global network will benefit the growth of IPL and will allow the Saint-Damien company to strengthen its leadership position in plastic products. IPL was founded in 1939 and went public on the Montreal Stock Exchange in 1985. One51 emerged out of the IAWS group of companies but first entered the plastics business in 2006 when it acquired Protech Plastics. The acquisition is being funded through a combination of IPL senior bank facilities and additional equity from One51, CDPQ, Fonds de solidarité. The Irish firm had acquired Canada-based IPL in order to increase its exposure to the growing North American plastics packaging market. The Fonds has been a partner of IPL since 2010, when it was acquired … Partner such as One51 - manufactures a range of plastic products, from food containers to wheelie-bins IPL senior facilities... 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