5 Firms Steer Take-Private Valuing IPL Plastics At $736M

Law360 (July 29, 2020, 10:03 PM EDT) -- Sustainable packaging company IPL Plastics said Wednesday that private equity firm Madison Dearborn will take it private at a C$981 million (about $736 million) enterprise value in a deal steered by five firms.

IPL Plastics Inc. said Intelligent Packaging Limited Purchaser Inc., which is controlled by funds managed by Madison Dearborn Partners LLC, will pay C$10.00 in cash per IPL Plastics common share. The deal gives IPL Plastics a C$555 million equity value and a C$981 million enterprise value.

IPL Plastics is represented by Stikeman Elliott LLP and its board's special committee is steered by McCarthy Tetrault LLP. The buyer is represented by Kirkland & Ellis LLP...

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