Sydney buyout firm Adamantem Capital is in exclusive due diligence to acquire Close the Loop, a sustainability-focused recycling business capitalised at $109 million on the ASX.
Street Talk can reveal Adamantem’s takeover approach has been well received by the Moelis Australia-advised board of Close the Loop, which was formed via the merger of CtL and OF Packaging. Shares in Close the Loop traded as low as 16¢ last month.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
