Solvar Limited (ASX:SVR) is looking at acquisition opportunities. During the company's first half of financial year 2023 investor presentation, Scott Baldwin, Chief Executive Officer, said that ‘ We did think it was prudent to draw that down at the time considering we're concerned about availability of cash this year, and it puts us in a very strong position. We have $110 million of unrestricted cash that the business can use to deploy in many initiatives, primarily organic growth, any potential acquisitions or the share buyback or other endeavors that we see'.

‘And one of the hard things for the Board to consider is given that we are trading not much above NTA, deploying that capital into share buyback is certainly prudent. We are looking at acquisition opportunities out there that we haven't been able to conclude any of them at this point in time'.