It has been reported that waste management solutions provider Papilo has acquired Allwood Recycling Solutions.
The deal brings together two companies focused on outsourced waste and resource management services, creating a combined group with more than 200 employees and annual revenues exceeding £60m.
The acquisition of Allwood is the second transaction completed since Papilo partnered with the Palatine Impact Fund, and is described as its largest to date.
Paul Hodgkiss, CEO, Papilo, commented, “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. 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 centre of every service.”
Greg Holmes, Senior Investment Director, Palatine Impact Fund, added, “This is an important strategic acquisition for Papilo, broadening our service capabilities and bringing new experience and technical knowledge into the business. We are delighted to have supported on Papilo’s second acquisition in the last eight months and look forward to identifying other suitable targets that will further enhance Papilo’s growth.”
