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Close the Loop closes 2 acquisitions, completes cap raise

ASX-listed recycling and circular economy company Close the Loop has been advised on the acquisition of two US-based electronics refurbishing and trading companies as well as a capital raise and debt funding.

user iconJerome Doraisamy 13 April 2023 Big Law
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Firm: Thomson Geer (Close the Loop)

Deal: Close the Loop (ASX: CLG) has acquired ISP Tek Services and Captive Trade Corp, with the deal expected to be completed by month’s end. To fund the acquisition, it has successfully raised $45 million from institutional investors and also obtained substantial debt funding to fund the balance of the cash component of the acquisition.


Area: Merger and acquisition; capital markets

Value: $100 million (acquisitions), $45 million (cap raise)

Key players: The Thomson Geer team was led by partner David Schiavello, who was supported by partner Andrea Wookey, special counsel Lisa Marcus, associate Kelly Murray and lawyer Elizabeth Hanrahan.

Deal significance: Mr Schiavello said: “We congratulate Close the Loop on this transformative deal as it grows to cement itself as a leader in the global circular economy.”

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