IPL Inc., a Quebec-based manufacturer of molded plastic products, is being acquired by the private equity firm Novacap Industries, Longueuil, Quebec, and Fonds de Solidarité FTQ, with offices in Montreal and Quebec City.
IPL manufactures and markets more than 400 products at four plants located in Saint-Damien-de-Buckland, Saint-Lazare and Lawrenceville, Quebec; and Edmundston, New Brunswick.
"The Métivier family has invested a great deal in the development of this company, and we are very proud of its success since its founding in 1939,” says Julien Métivier, outgoing IPK board chairman. “However, it's now time for us to sell the company. We're very pleased that IPL is being bought by the Novacap Industries and Fonds de Solidarité FTQ consortium because we know that these two Québec funds care about creating jobs here at home and helping local companies. So, we're confident that IPL will continue to grow."
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