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, in the U.K.

The acquiring company is housed within the Impact Fund of Palatine, which describes itself as a U.K.-based mid-market private equity investor that maintains a “commitment to the environment and society.”

On its website, Allwood portrays itself as a collector and recycler of old corrugated containers (OCC), metals, plastics, glass and wood.

Papilo describes Allwood as having been founded in 2010  by Darren Wheeler and as a provider of “total waste management solutions with a strong specialism in the distribution and logistics sectors.”

Allwood manages over 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. 

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

“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,” says Paul Hodgkiss, CEO of Papilo. “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.”

Comments Ebery, “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. 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.”

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