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Close the Loop secures merger and IPO
With assistance from Thomson Geer, packaging and recycling company Close the Loop has secured its listing on the Australian Securities Exchange.
Naomi Neilson
Firm: Thomson Geer (Close the Loop)
Value: $12 million IPO.
Area: IPO; M&A.
Key players: The deal was led by partner David Schiavello. He was supported by senior associate Matt Persico, lawyers Loreta Ajredini and Bevan Wang, and law graduate Elizabeth Hanrahan.
Deal significance: Close the Loop has secured a merger with packaging printer and cardboard paper recycler O F Packaging, which was also advised by Tomson Geer on its acquisition of seafood company Oceanic Agencies. In addition to the successful IPO, Oceanic Agencies will now also fall under Close the Loop.
On each transaction, Thomson Geer undertook due diligence, facilitated negotiations on the deals and drafted and finalised all agreements.
Mr Schiavello commented: “The merger of Close the Loop and O F Packaging is in line with a trend towards circular integration where companies expand along their circular supply chains from design, manufacture, collection and recuse or recycling.”
Naomi Neilson
Naomi Neilson is a senior journalist with a focus on court reporting for Lawyers Weekly.
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