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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.

April 13, 2023 • By Jerome Doraisamy
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Firm: Thomson Geer (Close the Loop)

 
 

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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.

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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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Jerome Doraisamy

Jerome Doraisamy

Author

Jerome Doraisamy is the managing editor of professional services (including Lawyers Weekly, HR Leader, Accountants Daily, and Accounting Times). He is also the author of The Wellness Doctrines book series, an admitted solicitor in New South Wales, and a board director of the Minds Count Foundation.

You can email Jerome at: This email address is being protected from spambots. You need JavaScript enabled to view it. 

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