CLG: Close the Loop to acquire ISP Tek Services

CLOSE THE LOOP LTD.

• Close the Loop to acquire US-based electronics refurbisher ISP Tek Services LLC and Captive Trade Corp for up to US$66m
• Acquisition will provide a significant remanufacturing and reuse presence in the US and strengthen service offering to OEMs
• A$45m capital raising and debt facility of up to US$52.5m secured, and transaction expected to be 100% accretive on an EPS basis

2023-03-17 09:42:00

CLG: Close the Loop acquires USA recycling company

CLOSE THE LOOP LTD.

1. Close the Loop (“CTL”) acquired USA recycling company In-Plas Recycling (“In-Plas”)
2. The acquisition further strengthens CTL’s position in the lucrative recycling market
3. Expected to be immediately earnings accretive, adding US$1.1 million to CTL’s EBITDA on a trailing 12-month basis

2023-01-17 08:51:00