Kirkland & Ellis LLP represents Madison Dearborn Partners, which announced yesterday entry into an arrangement agreement to acquire IPL Plastics, Inc. (TSX: IPLP). Under the terms of the arrangement agreement, subject to shareholder and other customary approvals, Intelligent Packaging Limited Purchaser, an entity controlled by funds managed by Madison Dearborn Partners, will acquire at C$10.00 in cash per share all of the issued and outstanding common shares of IPLP. The transaction values IPLP at C$555 million on an equity basis and at C$981 million on an enterprise basis.

Entry into the arrangement agreement was based on the unanimous recommendations of both the IPLP board of directors and the independent committee of the board and followed an extensive review and analysis. Read the press release from IPL Plastics

The Kirkland team was led by transactional partner Jon-Micheal Wheat and associate Katherine Bryan, and included partner Richard Campbell and associates Jared Maher and Benjamin Vizvary. The team also included debt finance partners Michael Wright, Maureen Dixon and Kyle Gillen, and associate James Valenza, capital markets partners Bob Hayward and Lisa Martin, and tax partners Rachel Cantor and Jeffrey Ekeberg.