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Three private equity firms line up bids to take over IPL Plastics

Potential deal could offer long-awaited exit for around 2,000 Irish investors

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It was announced last week that Pat Dalton, the CFO of the company, was "resigning from the board of directors

It was announced last week that Pat Dalton, the CFO of the company, was "resigning from the board of directors

It was announced last week that Pat Dalton, the CFO of the company, was "resigning from the board of directors

Three private equity firms have made bids for Irish-Canadian company IPL Plastics, the Sunday Independent has learnt. Any take private would offer an exit to Irish shareholders of the company, including businessman Larry Goodman, several Irish co-ops and around 2,000 small private investors.

It is understood that Bank of Montreal is acting for IPL Plastics, which was formerly known as One51 and based on Thomas Street, Dublin. It listed on the Toronto Stock Exchange in 2018 but its share price has struggled since then.

It is understood that CapVest, which is led by Cavan man Seamus Fitzpatrick, is one of the three interested parties. CapVest made previous attempts to take over the company when it was One51.