15 March 2019
McCann FitzGerald advises IPL Plastics Inc on Acquisition of Belgian-headquartered Loomans Group
McCann FitzGerald has advised IPL Plastics Inc, a leading sustainable packaging solutions provider, on its acquisition of Loomans Group N.V. ("Loomans") for a total consideration of $85.5 million, financed by existing cash resources and credit facilities.
IPL Plastics operates primarily in the food, consumer, agricultural, logistics and environmental end-markets in Canada, the U.S., the U.K., Ireland, China and Mexico. It employs approximately 2,000 people, has corporate offices in Montreal and Dublin and is listed on the Toronto Stock Exchange.
Loomans has its operations and headquarters in Belgium and will be integrated into IPL Plastics’ Consumer Packaging Solutions business in Europe. Loomans is a tooling and plastics manufacturing business, with significant in-mold labelling expertise, operating for over 50 years. The acquisition is consistent with IPL Plastics' acquisition strategy, diversifying the group's geographic footprint and adding new capacity and capabilities to serve a broader customer base. Loomans has a well-established, blue chip customer base in continental Europe and provides IPL Plastics with a strong platform for future growth in this region and opportunities for tooling synergies and cross selling opportunities.