Investor Presentation July 2015 Forward-Looking Statements The - - PowerPoint PPT Presentation

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investor presentation july 2015 forward looking statements
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Investor Presentation July 2015 Forward-Looking Statements The - - PowerPoint PPT Presentation

Aug 26, 2023 261 likes •553 views

Investor Presentation July 2015 Forward-Looking Statements The information in this presentation has not been independently verified and does not purport to be comprehensive. One51 is not undertaking any obligation to provide any additional

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SLIDE 1

Investor Presentation – July 2015

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SLIDE 2

Forward-Looking Statements

The information in this presentation has not been independently verified and does not purport to be

  • comprehensive. One51 is not undertaking any obligation to provide any additional information or to update this

presentation or to correct any inaccuracies that become apparent. This presentation is neither a prospectus nor an

  • ffer nor an invitation to apply for securities. The information contained in this presentation is for background

purposes only and is subject to material updating, completion, revision, amendment and verification. This presentation does not constitute or form a part of any offer for sale or solicitation of any offer to buy or subscribe for any securities. Any prospective investor must make its own investigation and assessments and consult with its

  • wn adviser concerning any evaluation of the Company and its prospects.

No representation or warranty, express or implied, is or will be given by One51, its subsidiaries, its shareholders or their respective directors, officers, employees or advisers as to the accuracy or completeness of this presentation and, so far as permitted by law, no responsibility or liability is accepted for the accuracy or sufficiency of this

  • presentation. In particular, without limitation, no representation or warranty is given as to the achievement or

reasonableness of any projection, estimate, target or forecast in this presentation, which it should be noted is provided for illustrative purposes only. This presentation contains forward-looking statements which reflect management’s current views and estimates. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ materially from those contained in the forward-looking statements. Potential risks and uncertainties include such factors as general economic conditions, foreign exchange fluctuations, competitive product and pricing pressures and regulatory developments. Management undertake no responsibility to revise any such forward-looking statements to reflect any changes in management’s expectations or any change in circumstances, events or the Group’s plans and strategy. Accordingly, no reliance can be placed on the figures contained in such forward-looking statements.

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SLIDE 3

Table of Contents

Transaction Highlights.......................................................................................4 One51..............................................................................................................10 IPL....................................................................................................................14 OPG..................................................................................................................20 Strategy............................................................................................................27 Summary..........................................................................................................28

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SLIDE 4

IPL Transaction Highlights

  • One51 together with 2 Canadian Equity Partners is acquiring IPL Inc. from

Novacap and Fonds de solidarité FTQ (“FSTQ”) for a total consideration of CAD$280m

  • IPL is a leading North American manufacturer of injection moulded

plastics with facilities in Canada and the US

  • One51 expanding its international reach to include significant North

American markets and significantly increasing its scale

  • Caisse de dépôt et placement du Québec (“CDPQ”) becoming a

shareholder in IPL (22%) and FSTQ (11%) remaining a shareholder

  • Investissement Quebec are also participating in the financing package

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SLIDE 5

IPL Transaction Highlights contd.

  • Financing structure - Debt (CAD$155m) and Equity (CAD$135m)
  • One51 Equity contribution (CAD$90m) will be funded from cash reserves

and existing banking facilities

  • Senior Debt and RCF provided by National Bank (CAD$110m) and HSBC

(CAD$40m)

  • 2014 Revenue of CAD$215.2m and Adj. EBITDA of CAD$30.9m
  • Forecast pro forma Revenue for 2015 of c. CAD$240m and Adj. EBITDA of
  • c. CAD$40m on an existing Canadian GAAP basis
  • Transaction expected to close by July 31 2015

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SLIDE 6

Strategic Rationale

  • Acquisition of a platform position in a large fragmented market
  • One51 has secured a platform to develop an international plastics

business with scale

  • Complementary products with new geographic markets
  • Entry to a new segment - food packaging - on a scale basis
  • People, Products and Production Facilities
  • Long standing, blue chip customer base
  • Operational improvement potential

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SLIDE 7

One51 – International Scale

  • €122.5m Revenue
  • €15.7m EBITDA
  • 6 Facilities
  • UK (4)
  • Ireland (1)
  • China (1)
  • c. 455 people
  • 150+ machines
  • CAD$215.2m Revenue
  • CAD$30.9m EBITDA
  • 5 Facilities
  • Canada (4)
  • US (1)
  • c. 800 people
  • 80+ machines

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SLIDE 8

One51 - International Reach

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MGB PLASTICS

Wheeled Bin Manufacturer

6,000 m2 manufacturing facility with capacity to produce 1.5 million wheeled bins per annum. PPC

Paint Can Manufacturer

5,600 m2 manufacturing facility with a range of state

  • f the art machinery.

AAC PLASTICS

Trade Moulding

5,100 m2 manufacturing facility with a well invested range of production machinery.

3 2 1

PROTECH

Rigid Packaging & Electronics

2,300 m2 manufacturing facility with an additional 1,400 m2 clean room facility.

4

PROTECH CHINA

Electronics

2,300 m2 manufacturing facility. STRAIGHTS

Wheeled Bin, Caddy & Kerbside Box Manufacturer

12,000 m2 manufacturing facility.

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ST-DAMIEN

Bulk Packaging & Environmental

50,300 m2 manufacturing facility.

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EDMUNDSTON

Material Handling & Thin Wall Packaging for Food Applications

12,100 m2 manufacturing facility.

9 8 9

PROTECH BOSTON

Electronics

Representative office.

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LEE’S SUMMIT, MO

Overcaps Business, Manufacturing Lids & Composite Lids

22,800 m2 manufacturing facility.

1255 Employees 230+ Machines

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SLIDE 9

An Excellent Fit for One51

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Deep Product Portfolio Technologies Access to North American Markets Entry to Food Packaging Experienced Management Team Strong Client Relationships Market Positions

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SLIDE 10

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SLIDE 11

Group Overview

C.950 people

2 operating

divisions

€52m

investment portfolio book value*

22 locations -

Ireland, UK and China

€276.5m

revenue* EBITDA*

€21.9m

11 *Financials relate to final results for the year ending 31 December 2014

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SLIDE 12

Group Structure

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SLIDE 13

Strategy

  • The Group’s strategy is to develop its core operating businesses,

OnePlastics Group and ClearCircle Environmental whilst continuing to unlock value in its investment portfolio

  • OnePlastics Group and ClearCircle Environmental provide the opportunity

to focus on higher margin businesses with good growth characteristics and strong competitive advantages

  • IPL represents the type of growth opportunity One51 is looking for over

the medium term to augment its existing operations

  • The Group also believes there is upside in its investment portfolio versus

book value

  • Appropriate liquidity options under consideration

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SLIDE 14

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SLIDE 15

About IPL

  • Founded by Metivier Family in 1939 in St-Damien, Quebec
  • Leading North American manufacturer of injection moulded plastics
  • Serving Environmental, Bulk Food and Retail sectors
  • 5 Facilities – 4 in Canada and 1 in the US (3 manufacturing sites)
  • Employing 800 people
  • Producing c. 2.8bn product units annually

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SLIDE 16

IPL Operations & Locations

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Retail Packaging Division

IPL Inc.

Plastics Enterprises Co. IPL Canada Edmundston St-Damien IPL USA

Bulk Food & Environmental

St-Damien Edmundston Plastics Enterprise Co., MO

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SLIDE 17

IPL Operations Overview

  • Manufacturing focused on 3 main areas:

− Environmental products i.e. Wheeled bins and associated recycling containers − Bulk Food packaging i.e. 1L – 24L round, square and rectangular pails primarily for the food services industry − Retail Food packaging i.e. 0.25L – 2.5L round, square and rectangular pails for retail food packaging (e.g. Deli salads etc.) and plastic lids for food packaging (e.g. Ground coffee cans, ice-cream tub lids etc.)

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SLIDE 18

IPL – Bulk Food & Environmental

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Bulk Packaging Environmental Material Handling

Bulk Packaging

  • The Bulk Packaging division primarily services

the Food Services industry supplying a range of tamper evident pails from 1L to 24L for prepared salads, speciality cheeses, pastry fillings and icings etc.

  • IPL has grown its bulk packaging sales from
  • c. C$42m in FY12 to c. C$62m in FY14 through a

combination of a new sales team and expanding its product portfolio Environmental

  • The majority of IPL environmental sales are to

local municipalities in Canada and distributors such as USD Inc.

  • It has also won some tenders in the US
  • IPL is the No. 1 supplier of wheeled bins to the

Canadian market and has c. 60% of the Canadian wheeled bin market

  • IPL sells approximately c. 800k wheeled bins

p.a. Material Handling

  • Relatively stable business which services a

number of niche areas such as the Lobster & Fisheries industry and the Nursery & Forestry industry in Canada

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SLIDE 19

IPL – Retail Food Packaging

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Plastic Enterprises Co.

  • Plastics Enterprise Co. in Lee’s Summit is

primarily an overcaps business manufacturing lids and composite lids (plastic rim and paper lid for ice-cream tub lids) for a variety of end customers

  • The business manufactures in excess of 2bn

parts (primarily lids) p.a.

  • Plastics Enterprises has the contract to

manufacture lids for Pringles in North America and manufactures close to 1bn lids p.a. Edmundston

  • Edmundston plant specialises in complex,

medium volume containers and lids for retail packaging industry

  • It manufactures a range of round, square and

rectangular tamper evident containers with IML

  • It services over 300 customers in retail

packaging space

Lee’s Summit Edmundston

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SLIDE 20

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SLIDE 21

OnePlastics Group

  • Leading manufacturer of plastic products
  • Specialising in injection moulding and related services
  • Diverse portfolio of proprietary products and contract manufacturing
  • 6 separate manufacturing facilities in UK (4), Ireland (1) and China (1)
  • Strategy is to become “the” leading integrated provider of quality plastic

products to a range of end-users across a variety of industries on an international scale

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SLIDE 22

Locations

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MGB PLASTICS

Wheeled Bin Manufacturer

6,000 m2 manufacturing facility with capacity to produce 1.5 million wheeled bins per annum. PPC

Paint Can Manufacturer

5,600 m2 manufacturing facility with a range of state

  • f the art machinery.

AAC PLASTICS

Trade Moulding

5,100 m2 manufacturing facility with a well invested range of production machinery. PROTECH

Rigid Packaging & Electronics

2,300 m2 manufacturing facility with an additional 1,400 m2 clean room facility. PROTECH BOSTON

Electronics

Representative office. PROTECH CHINA

Electronics

2,300 m2 manufacturing facility. STRAIGHTS

Wheeled Bin, Caddy & Kerbside Box Manufacturer

12,000 m2 manufacturing facility.

5 4 1 3 2 7 6 6 7 5 4 3 2 1

455 Employees 150+ Machines

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SLIDE 23

Waste Management and Recycling

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Wheelie Bins Caddies Kerbside Boxes

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SLIDE 24

Rigid Plastic Packaging

Paint Cans Infant Food Caps Agri-Feed Buckets

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SLIDE 25

Contract Manufacturing

Water Attenuation Units School Chairs Bread Trays

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SLIDE 26

Electronics

Drive Carriers Panels

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SLIDE 27

Strategy

  • The Group’s strategy is to develop its core operating businesses,

OnePlastics Group and ClearCircle Environmental whilst continuing to unlock value in its investment portfolio

  • OnePlastics Group and ClearCircle Environmental provide the opportunity

to focus on higher margin businesses with good growth characteristics and strong competitive advantages

  • IPL represents the type of growth opportunity One51 is looking for over

the medium term to augment its existing operations

  • The Group also believes there is upside in its investment portfolio versus

book value

  • Appropriate liquidity options under consideration

27

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SLIDE 28

Summary

  • IPL is a leading North American manufacturer of injection moulded

plastics

  • One51 joined by 2 Canadian Equity Partners – CDPQ & FSTQ
  • Deep product portfolio complementary to OPG’s product set
  • Provides entry to new segment - food packaging - for One51
  • One51 expanding its international reach to include significant North

American markets and significantly increasing its scale

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