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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)

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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.

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.”

Jerome Doraisamy

Jerome Doraisamy

Jerome Doraisamy is the editor of Lawyers Weekly. A former lawyer, he has worked at Momentum Media as a journalist on Lawyers Weekly since February 2018, and has served as editor since March 2022. He is also the host of all five shows under The Lawyers Weekly Podcast Network, and has overseen the brand's audio medium growth from 4,000 downloads per month to over 60,000 downloads per month, making The Lawyers Weekly Show the most popular industry-specific podcast in Australia. Jerome is also the author of The Wellness Doctrines book series, an admitted solicitor in NSW, and a board director of Minds Count.

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

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