IPL Plastics targets major deal in Europe

IPL Plastics, which floated on the Toronto stock exchange last week, is actively looking at a major acquisition in Europe.

The Dublin-based company is estimated by analysts to have a warchest of $200 million to make a large acquisition over the next 12 months.

Chief executive Alan Walsh is leading IPL’s team running the rule over potential purchases. IPL raised $140 million last week from its flotation.

The offering was oversubscribed but at ...