Private equity-backed Papilo has announced the strategic acquisition of Warwick-based Allwood Recycling Solutions.
Papilo, based in Manchester, is a total waste management solutions provider backed by Palatine’s Impact Fund.
The acquisition creates a combined group with over 200 employees and annual revenues of more than £60 million.
Allwood, founded in 2010 by Darren Wheeler, is a nationwide provider of total waste management solutions with a strong specialism in the distribution and logistics sectors. Allwood manages over 150,000 tonnes of material each year.
The company, which like Papilo operates an asset-light business model, has been led since 2025 by Gavin Ebery, who has risen through the ranks from commercial director and COO. Both Ebery and Wheeler are remaining with the enlarged group, alongside the wider employee base of Allwood.
The acquisition is the second and largest since North West-based Papilo partnered with Palatine’s Impact Fund, which invests in commercial businesses specialising in delivering social and environmental change. Papilo acquired Silverwoods Waste Management last year.
It is a significant milestone in Papilo’s ambition to lead the way in fostering a circular economy, where waste is minimised and resources are maximised.
“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,” said Paul Hodgkiss, CEO of Papilo (pictured). “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.
“This is a milestone acquisition for the group and will be a major platform for growth.”
Ebery said: “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, commented: “This is an important strategic acquisition for Papilo, broadening our service capabilities and brings 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.”