One51 to proceed with flotation plan

Plastics group One51 is to press ahead with its original plans for a stock exchange listing, confirming prospects of a trade sale to private equity firm CapVest have ended. The group will put the flotation plan to a shareholder vote early next month along with its plan to change the name of the business to IPL Plastics,  writes Geoff Percival.

Details of the EGM on December 6 were announced yesterday, along with One51 confirming that talks with private equity house CapVest Partners had come to nothing and were now off the table.