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One51 sells Enplast Thirdforce stakes

Tuesday, October 23 12:20:02

Investment group, One51, today said that it has completed the disposal of its stake in Longford-based plastic extrusion business, Enplast, and e-learing firm, Thirdforce, realising E5m from the disposals.

This sale marks One51's complete exit from plastic extrusion operations, following the sale of Foamalite Ltd completed in June 2012.

One51 also announced that it has completed the disposal of its 4.4pc stake in e-learning business Thirdforce plc to SkillSoft following the latter's outright acquisition of Thirdforce.

Commenting on the announcements, CEO Alan Walsh said, "These divestments demonstrate One51's on-going commitment to rationalise a diverse legacy portfolio of businesses and investments. Total proceeds of circa E5 million were realised, which will be used to further reduce Group net debt".

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