Thomson Geer advises circular economy company Close the Loop on merger and IPO

8 December 2021

News

Thomson Geer has helped Australia-based packaging and recycling company Close the Loop become a key player in the world’s rapidly growing circular economy through a strategic merger and oversubscribed A$12 million initial public offering (IPO) and listing on the Australian Securities Exchange (ASX).

Close the Loop is primed for future growth opportunities following its merger with packaging printer and cardboard paper recycler O F Packaging and successful IPO.

Thomson Geer also advised O F Packaging on its acquisition of seafood packaging company Oceanic Agencies, which has also joined the Close the Loop group.

On each transaction Thomson Geer undertook due diligence, facilitated negotiations on the deals and drafted and finalised all agreements.

For the IPO, Thomson Geer advised Close the Gap on all aspects of the listing including the Australian legal requirements in relation to the prospectus and the due diligence process.

With operations in Australia, the United States, Europe and South Africa, Close the Loop is part of the global circular economy for plastic packaging, processing, recycling and refurbishment of print toner cartridges and other consumer products. The circular economy is expected to grow significantly as governments and consumers seek out sustainable solutions that reduce waste.

Thomson Geer Partner David Schiavello said: “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 reuse or recycling.

“With the merger and ASX listing, Close the Loop is well positioned to be Australia‚Äôs foremost circularly integrated design, manufacturing, collection and recycling business.”

The Thomson Geer team was led by David Schiavello and included Senior Associate Matt Persico, Lawyers Loreta Ajredini and Bevan Wang, and Law Graduate Elizabeth Hanrahan.