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Close The Loop Ltd ASX:CLG

0 opened or increased0 held0 reduced or exitedlatest position by manager, past 12 months90 days: 0 increased, 0 reduced. 3 managers in total.

Position history by manager 3 managersSelect a point to see the comment

Opened or increasedHeldReduced or exited Start or end of the position not reported

202420252026

31 Aug 2023 to today

Commentary Showing 2 of 11

DateManagerActionSummary

28 Aug 2025Salter BrothersHeldSalter Brothers continues to hold Close the Loop Ltd despite the company experiencing a challenging FY25 — including the termination of takeover discussions with Adamantem and a weaker-than-expected first-half trading update. Salter Brothers notes that revenue was broadly in line with the prior corresponding period but EBITDA fell 46% to $12.2 million, reflecting an unfavourable shift in business mix and delays in delivery of the Mexicali facility approval. The manager highlights encouraging developments including the Mexicali site now being fully operational and new CEOs appointed to lead the North American ITAD division and Australia, with FY26 expected to benefit from new project wins and improved earnings.

Annual Report, price recorded $0.03

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28 Feb 2025Salter BrothersHeldThe fund manager continues to hold Close the Loop (CLG), noting the FY result was underwhelming and in line with the January trading update, with a decline in EBITDA driven by an unfavourable product mix in the resource recovery segment and delays opening the Mexicali facility. The manager visited a North American site and is comfortable with the current holding, believing appropriate execution can return the business to FY24 earnings levels and beyond.

Monthly Report, price recorded $0.10

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9 more comments on CLGPro shows every comment, with a link to each source document.

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First mention by manager

Price recorded at each manager's first comment

Price at first mentionThe share price recorded when each of 3 managers first commented on CLG.

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Articles

28 Aug 2025Close the Loop: Manager Sees Recovery After Failed Takeover and Earnings Slump

About Close The Loop Ltd

Materials, Commercial Services and Supplies

Close the Loop (ASX:CLG), a circular economy and resource recovery business, has been a difficult holding for Australian small-cap managers. In August 2025, Salter Brothers identified Close the Loop as its portfolio's key detractor for FY25, citing a challenging year that included the end of takeover talks with private equity firm Adamantem and weaker trading. Wilson Asset Management noted the exclusivity period with Adamantem expired without a binding offer. Close the Loop operates in the Industrials sector within the Commercial Services and Supplies industry, and Thesis Tracker has captured 11 comments from 3 fund managers, including Salter Brothers and Wilson Asset Management. Close the Loop collects, refurbishes and recycles electronics and consumer products such as laptops, printers and gaming devices, and provides sustainable packaging solutions to customers in Australia, the United States and Mexico.

Market cap: $20m
Price to earnings: Loss-making
Return on equity: 0.0%
Dividend yield: 0.0%
Price to book: 0.68x
Net margin: -83.9%
52-week range: $0.02 to $0.05

Company figures as of 15 Oct 2026. For information only.

Questions

Who is investing in Close The Loop Ltd (ASX:CLG)?

Fund managers including Cerutty Macro Fund, Salter Brothers and Wilson Asset Management have invested in Close The Loop Ltd (ASX:CLG).

What opportunities or catalysts do fund managers highlight for Close The Loop Ltd?

Fund manager commentary has focused mainly on setbacks, though Salter Brothers' engagement with management centred on improving cash conversion, with updates expected at the AGM. The earlier non-binding takeover interest from Adamantem at $0.27 per share suggests private equity saw value in the platform.

What are the key risks to the Close The Loop Ltd investment thesis, according to fund managers?

Salter Brothers highlights the collapse of takeover discussions with Adamantem, an earnings downgrade, lower EBITDA due to unfavourable product mix in resource recovery and delays opening its Mexicali facility. Cash conversion has also been a concern for investors.

What does Close The Loop Ltd (ASX:CLG) do?

Close the Loop Ltd (CLG) is a resource recovery company specialized in circular economy solutions. The firm collects and refurbishes electronics, including laptops, printers, teleconferencing equipment, and gaming devices. Additionally, CLG provides sustainable packaging designed to improve product recoverability and recyclability. The company operates with a primary strategic objective of achieving Zero Waste to Landfill across its operations.

General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.

11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.

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