REKK’s founders will stay with expanded business
A Greater Manchester waste management group backed by private equity firm Palatine has made its third acquisition in a year. Papilo has acquired REKK Recycling, which is based in Uddingston near Glasgow, in a move that also expands its reach across the UK.
REKK founders, Steven Dodds and John Byrne, will stay with the business as it joins Papilo, which has been backed by Palatine’s Impact Fund. It follows February’s deal by Papilo for Midlands-based Allwood Recycling and last year’s deal for North West-based Silverwoods Waste Management.
Michael Gibson, who joined Swinton-based Papilo as CEO earlier this month, said: “REKK is an excellent strategic addition for Papilo and enhances our geographical presence into Scotland.
“Like ourselves, the company’s ethos is built on best-in-class customer service and on supporting better environmental outcomes through recycling. Founders Steven and John have done a fine job in building the business and I am pleased that along with their team they are remaining with the group for the next phase of growth.”
Greg Holmes, senior investment director at Palatine Impact Fund said: “REKK is an excellent fit for Papilo – not just geographically, but in its shared commitment to diverting waste from landfill and supporting clients to take a more responsible approach to resource management.
“This is Papilo’s third acquisition in under a year as we build a business of true scale in the circular economy in partnership with the ambitious management team and we are well-positioned to continue that growth through further strategic M&A.”
The transaction, whose value was not disclosed, was funded by Kartesia and Virgin Money. Papilo was advised by Gateley (legal), Fellwood Advisory (debt advisory), MHA Smalley (financial and tax due diligence) and Luminii Consulting (commercial due diligence). Advisers to REKK included KBS (corporate finance) and Mackrell (legal).











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