Australian company Close the Loop (ASX:CLG) has reported a 15% growth in EBITDA to $US7.9M during H2 2022, following its acquisition of ISP TEK Services and Captive Trade Corporation.

CEO Joe Foster said the company, which focuses on the recycling and recovery of electronic equipment, would continue to benefit from the growing economic sustainability sector.

Close the Loop has also opened a new facility in Kentucky to support ISP TEK's expansion plans and accommodate an increase in laptop refurbishing volumes.

The company is forecasting a statutory EBITDA of $22M in FY23 (including a two-month contribution from ISP TEK and CTC) and in FY24, revenue to be at least $200M and EBITDA of at least $43M.