CDPQ and Fonds-backed IPLP shoots for $180 mln from IPO

IPL Plastics Inc (IPLP), a Montréal-based packaging solutions provider, has priced its proposed initial public offering of common shares at between $13.50 and $16 per unit. This will generate proceeds of about $180 million, not including the greenshoe option. With the IPO’s close, IPLP backers Caisse de dépôt et placement du Québec (CDPQ) and Fonds de solidarité FTQ will respectively hold stakes of 28 percent to 28.9 percent and 6 percent to 6.2 percent. CDPQ and the Fonds have invested in the company’s affiliate, Ireland’s IPL Plastics plc, since 2015, when as One51 plc it acquired Saint-Damien Québec-based IPL Inc from Novacap for about $280 million.


IPL Plastics Inc. Files Amended and Restated Preliminary Prospectus for Initial Public Offering of Common Shares

MONTREAL, June 1, 2018 /CNW/ – IPL Plastics Inc. (“IPLP” or the “Company”) today announced the filing of an amended and restated preliminary prospectus with the securities regulatory authorities in each of the provinces and territories of Canada in connection with its proposed initial public offering of its common shares (the “Offering”).

The Offering is being made through a syndicate of underwriters led by BMO Capital Markets, CIBC Capital Markets and RBC Capital Markets, acting as joint bookrunners, and including National Bank Financial Inc., J&E Davy, Goodbody Stockbrokers UC, Desjardins Securities Inc., GMP Securities L.P., HSBC Securities (Canada) Inc., and Laurentian Bank Securities Inc.

The amended and restated preliminary prospectus contains important information relating to the common shares and is still subject to completion or amendment. A copy of the amended and restated preliminary prospectus is available on SEDAR at There will not be any sale or any acceptance of an offer to buy the common shares until a receipt for the final prospectus has been issued.

No securities regulatory authority has either approved or disapproved of the contents of this news release. The common shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws. Accordingly, the common shares may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of IPLP in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Anticipated Appointment of Four New Directors
The Company is pleased to announce the anticipated appointment of David McAusland, Sharon Pel, Linda Kuga Pikulin and Mary Ritchie (the “New Directors”) as additional members of the Board of Directors, in addition to Rose Hynes, Hugh McCutcheon, Geoff Meagher and Alain Tremblay who will remain as non-executive directors of the Company. The New Directors are anticipated to be appointed upon completion of the Offering. David McAusland will assume the position of Chairman of the Board of Directors on completion of the proposed initial public offering.

David McAusland is a corporate advisor, lawyer and experienced corporate director and senior executive. Mr. McAusland is a partner in the law firm McCarthy Tétrault LLP and was previously Executive Vice-President, Corporate Development and Chief Legal Officer of Alcan Inc., a large multinational industrial company, where he provided leadership on its worldwide mergers, growth strategies, major transactions and capital investments. Mr. McAusland currently acts as director of Cogeco Inc. and Cogeco Cable Inc., both involved in the communications sector, Cascades Inc., a producer of packaging and tissue products, and ATS Automation Tooling Systems Inc., an advanced automation solutions company. Mr. McAusland is also a director or advisory board member of several well-established private companies and active in community causes. Mr. McAusland received his B.C.L. in 1976 and his LL.B. in 1977, both from McGill University.

Sharon Pel is a corporate director and was Senior Vice President, Group Head of Legal and Business Affairs and Corporate Secretary of TMX Group Limited until 2015, where she was responsible for advising the TMX board and executive management on all aspects of its governance, operations and legal and regulatory affairs. Prior to that, she was a partner at Torys LLP. Ms. Pel currently provides consulting services through her firm, Inglewood Advisory Services. Ms. Pel is a member of the board of trustees of OPTrust, the administrator of the OPSEU Pension Plan, a defined benefit plan with over 92,000 members and retirees. Ms. Pel holds an Honors Bachelor of Arts from the University of Toronto and a LL.B from the University of Ottawa. She is Member of the Law Society of Upper Canada and holds the ICD.D designation. She is involved in several charitable endeavors including serving on the board of Canadian Feed The Children.

Linda Kuga Pikulin served as the President of PepsiCo Beverages Canada from June 2010 to February 2011. She led the complex integration of PepsiCo’s brand and bottling businesses to position the company for long-term growth. From 1998 to 2010, she served as the President of Pepsi Bottling Group Canada responsible for the sales, manufacturing, merchandising and distribution of Pepsi products. Under her leadership, the bottling company delivered unprecedented market share and profit growth. Ms. Pikulin is an Independent Director for Enersource Corporation. Ms. Pikulin earned a Bachelor of Science Degree in Business Administration from Robert Morris University in Pittsburgh, PA.

Mary Ritchie is the President and Chief Executive Officer of Richford Holdings Ltd., an accounting and investment advisory services firm based in Edmonton, Alberta. She has over 30 years of experience in both the public, private and not-for-profit sectors and is a member of CPA Canada and a Fellow of CPA Alberta. Ms. Ritchie is a member of the board of directors and audit committees of EnWave Corporation, Alaris Royalty Corp. and Industrial Alliance Insurance and Financial Services Inc., and is also a member of RBC Global Asset Management’s independent oversight committee. Ms. Ritchie holds a B.A. degree from the University of Western Ontario and a Bachelor of Commerce degree from the University of Alberta.

About IPLP
IPLP, upon the effective date of the scheme of arrangement of IPL Plastics plc (which remains subject to sanction by the Irish High Court), will be a leading sustainable packaging solutions provider primarily in the food, consumer, agricultural, logistic and environmental end-markets operating in Canada, the U.S, the U.K., Ireland, China and Mexico. IPLP will employ c. 2,400 people and is headquartered in Montreal, Québec.

For further information: Investor Enquiries: Alan Walsh, Chief Executive Officer, +353 1 612 1375; Pat Dalton, Chief Financial Officer, +353 1 612 1377,; Media Enquiries: Phil Koven, Bay Street Communications, +1 647 496 7858; Tom McEnaney, McEnaney Media, +353 87 2222 666