Close the Loop (ASX:CLG), an end-to-end solutions provider from design and manufacturing through to collection and recycling of products, has acquired US recycling company In-Plas Recycling.

The acquisition expands both companies' service offering in recycled plastics processing and strengthens Close the Loop's position in the recycling market.

The acquisition is expected to be immediately earnings accretive, adding US$1.1 million to Close the Loop's EBITDA on a trailing 12-month basis.

It is funded from existing cash and bank debt and is consistent with Close the Loop's strategy to grow within the recycling space.