M&A Deal Summary

INEOS Olefins & Polymers USA Acquires WL Plastics

On November 1, 2016, INEOS Olefins & Polymers USA acquired plastics company WL Plastics from Onex Falcon and Sequel Holdings

Acquisition Highlights
  • This is INEOS Olefins & Polymers USA’s 1st transaction in the Plastics sector.
  • This is INEOS Olefins & Polymers USA’s 1st transaction in the United States.
  • This is INEOS Olefins & Polymers USA’s 1st transaction in Texas.

M&A Deal Summary

Date 2016-11-01
Target WL Plastics
Sector Plastics
Buyer(s) INEOS Olefins & Polymers USA
Sellers(s) Onex Falcon
Sequel Holdings
Deal Type Add-on Acquisition

Target

WL Plastics

Fort Worth, Texas, United States
WL Plastics, Inc. is a manufacturer of large-diameter polyethylene (“PE”) pipe for sale in the Rocky Mountains and throughout the western half of the United States. WL manufactures PE pipe from 1-24 inches in diameter but focuses its efforts on diameters of at least 4 inches. WL Plastics was founded in 2000 and is based in Fort Worth, Texas.

Search 201,157 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 1

Buyer

INEOS Olefins & Polymers USA

League City, Texas, United States

Category Company
Founded 2006
Sector Chemicals
DESCRIPTION

INEOS Olefins & Polymers USA LLC engages in the manufacturer of Olefins high density polyethylene and Polypropylene. Company has the capacity to manufacture over 7.5 billion pounds of product at four wholly owned manufacturing sites and joint venture site with Chevron Phillips. Company mission is to transform hydrocarbon raw materials into high quality olefins, high density polyethylene and polypropylene for customers.


DEAL STATS #
Overall 1 of 1
Sector (Plastics) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Texas) 1 of 1
Country (United States) 1 of 1
Year (2016) 1 of 1

Seller(S) 2

SELLER

Onex Falcon

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2000
PE ASSETS 4.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Onex Falcon is a mezzanine finance firm that provides junior capital for North American businesses. Falcon looks to provide $30 to $150 million of subordinated debt to companies with EBITDA of at least $10 million. Falcon has no specific industry focus. Investment proceeds are typically used to support LBOs/MBOs, growth and acquisition financings, restructuring, recapitalizations, take privates, and generational ownership transfers. Onex Falcon was formed in 2000 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 24 of 35
Sector (Plastics) 1 of 1
Type (Add-on Acquisition) 10 of 15
State (Texas) 7 of 9
Country (United States) 24 of 35
Year (2016) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-13 Triad Retail Media

Tampa, Florida, United States

Triad Retail Media is a provider of digital advertising monetization solutions by partnering with ecommerce retailers to provide brand advertisers with access to ad space and the ecommerce shopper universe. Triad Retail Media is based in Tampa, Florida.

Sell $300M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-17 Bellisio Foods

Duluth, Minnesota, United States

Bellisio Foods, Inc. is a manufacturer of branded and private label frozen foods.

Sell $1.1B
SELLER

Sequel Holdings

Dallas, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2002
Size Small
Type Sector Agnostic
DESCRIPTION

Sequel Holdings LP is a private equity firm specializing in equity investments in profitable middle-market businesses. Sequel focuses primarily on companies in the food, beverage, agribusiness, plastics and other industrial sectors. Sequel Holdings was formed in 2002 and is based in Dallas, Texas.


DEAL STATS #
Overall 2 of 3
Sector (Plastics) 1 of 1
Type (Add-on Acquisition) 1 of 2
State (Texas) 1 of 1
Country (United States) 2 of 3
Year (2016) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-10 Lakeview Farms

Delphos, Ohio, United States

Lakeview Farms is a manufacturer of sour cream, dips, and refrigerated desserts and markets its products under store brands as well as its own brands. Lakeview Farms was founded in 1988 and is based in Delphos, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-05 Chairmans Foods

Nashville, Tennessee, United States

Chairmans Foods is a manufacturer and custom solutions provider of fresh and frozen food products. The company's primary products include, refrigerated system kits, refrigerated branded pre-packaged chicken salad under the comfort cuisine label, kettle-cooked customized side dishes (macaroni and cheese, country corn, green beans, pepper gravy, cinnamon apples, etc.) delivered frozen to foodservice and other customers, and refrigerated sauces. Chairmans Foods was founded in 1999 and is based in Nashville, Tennessee.

Buy -