On July 23, 2015, One51 plc, a leading environmental-services and plastics operator, acquired a majority stake in IPL Inc., a producer of injection-molded plastic products, from NOVACAP and the Fonds de solidarité des travailleurs du Québec (F.T.Q.) for a purchase price of CAD $280 million. This transaction gives One51 a controlling stake in IPL (67%), while FSTQ will remain as a shareholder (11%) along with the Caisse de dépôt et placement du Québec (22%). IPL was founded in 1939 in St-Damien, Quebec. Formerly a public company, it was privatized upon its acquisition by NOVACAP and FSTQ in 2010. IPL is a leading North American manufacturer of injection-moulded plastics products serving the environmental, bulk-food and retail sectors. It employs 800 people across five separate facilities in Canada and the United States, manufacturing over 400 products for the North American market. With $1.5 billion of assets under management, NOVACAP is one of Canada’s leading private equity firms. Since 1981, its distinct partnership approach based on operational expertise has helped more than 70 companies in North America accelerate their growth and maximize their value. Fasken Martineau represented NOVACAP and IPL in this transaction with a team led by Michel Boislard that included Joëlle El-Féghali and Alexandra Lazar (corporate / M&A), Leslie Milton (competition), and Pierre-Olivier Charlebois and Jean-Philippe Therriault (environment).