PE-backed plastics company IPL buys Encore Industries for $35 mln

Canada's IPL Inc has acquired Encore Industries Inc, a U.S. producer of rigid plastic packaging products for the North American industrial packaging market. The deal, valued at US$35 million, was done in collaboration with IPL's parent company One51 and backers the Caisse de dépôt et placement du Québec and Fonds de solidarité FTQ. Saint-Damien, Québec-based IPL said the acquisition makes it the third largest player in the U.S. plastic injection molded products market and will facilitate further growth. Ireland's One51 acquired IPL last year for about $280 million. The seller was Canadian private equity firm Novacap.

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