one51 acquires ipl

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. • IPL’s current capital structure inhibits One51 in its ability to pursue an IPO and Listing. The minority 33.33% interest in IPL is held by CDPQ (22.2%) and FSTQ (11.1%). 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. One51 owns 67% of IPL with the rest held by two Quebec investment funds. 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. Former One51 shareholders received one new IPL share for every five existing One51 shares. “This acquisition with a strategic partner such as One51 will secure jobs at IPL. IPL is the holding company of One51’s North American plastics operations. One51 quickly shifted its focus to also acquire IPL’s Retail division, now targeting IPL as a whole. The Irish firm had acquired Canada-based IPL in order to increase its exposure to the growing North American plastics packaging market. 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. The Fonds has been a partner of IPL since 2010, when it was acquired … • One51 is the holder of a 66.67% majority interest in IPL, acquired in July 2015. 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. Acquiring Organization: Madison Dearborn Partners MDP seeks to invest in companies in partnership with outstanding management teams and achieve significant long-term value appreciation. 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. The acquisition is being funded through a combination of IPL senior bank facilities and additional equity from One51, CDPQ, Fonds de solidarité. 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 emerged out of the IAWS group of companies but first entered the plastics business in 2006 when it acquired Protech Plastics. 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