Waste manager REKK Recycling acquired by Papilo

The two firms are committed to diverting waste from landfill

Waste manager REKK Recycling, based in Uddingston, has been acquired by Papilo, which has now completed three deals in under a year.

REKK provides total waste management solutions to clients in the food production, manufacturing and industrial sectors across Scotland and England.

Its founders, Steven Dodds and John Byrne, will remain with the business following the acquisition, which has been backed by private equity firm Palatine’s Impact Fund.

Manchester-based Papilo now has revenues of £60 million and a workforce of more than 200 employees.

Michael Gibson, who recently joined Papilo as chief executive, described REKK as “an excellent strategic addition” that enhances the group’s presence in Scotland.

He added: “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.”

The transaction 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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