Papilo acquires Allwood Recycling in UK

Papilo, a United Kingdom-based waste and recycling services provider backed by a private equity investor, has announced its acquisition of Allwood Recycling Solutions of Warwick, England.

The acquiring company is housed within the Impact Fund of Palatine, a U.K.-based midmarket private equity investor.

“The Allwood team are hugely well-regarded in the industry, and I am delighted to welcome Gavin, Darren and the wider Allwood team to Papilo,” Papilo CEO Paul Hodgkiss says. “They bring outstanding experience, technical knowledge and, from the outset, it was clear that we share a common purpose where sustainability and the circular economy sit at the center of every service. This is a milestone acquisition for the group and will be a major platform for growth.”

Allwood is a collector and recycler of old corrugated containers, metals, plastics, glass and wood. It was founded in 2010 by Darren Wheeler and provides total waste management solutions with a strong specialism in the distribution and logistics sectors.

Allwood manages more than 150,000 metric tons of material each year, and when combined with Papilo’s existing assets, will create a combined company with more than 200 employees and annual revenue of more than $80 million, according to Papilo.

“This is an important strategic acquisition for Papilo, broadening our service capabilities and brings new experience and technical knowledge into the business," says Greg Holmes, senior investment director at Palatine Impact Fund.

Papilo says it and Allwood operate using “an asset-light business model,” and both Wheeler and Managing Director Gavin Ebery will remain with the newly combined firm, alongside the wider employee base of Allwood.

“This deal brings together two purpose-driven, like-minded businesses and I’m very excited about the opportunities it will bring to our customers and our people," Ebery says. "We look forward to a new phase of growth as part of Papilo in a market where increasing numbers of blue-chip companies are rolling out zero-waste strategies.”