Novacap sells IPL stake, Québec investors partner with buyer One51
One51 plc has agreed to acquire a majority stake in IPL Inc, a Canadian injection-molded plastic products business, for about $280 million. The deal, which will give One51 a 67 percent interest in the company, is being done in partnership with the Caisse de dépôt et placement du Québec, Fonds de solidarité FTQ and Investissement Québec. The seller is Canadian private equity firm Novacap, which led the $94.2 million privatization of the Saint-Damien, Québec-based IPL in 2010. In a statement, One51, an Irish environmental services and plastics company, said the purchase will provide it with a platform for growth in North America. The deal is expected to close by the end of July.
3 July 2015•5 mins read
