The two firms are committed to diverting waste from landfill<\/p>\n
Waste manager REKK Recycling, based in Uddingston, has been acquired by Papilo, which has now completed three deals in under a year.<\/p>\n
REKK provides total waste management solutions to clients in the food production, manufacturing and industrial sectors across Scotland and England. <\/p>\n
Its founders, Steven Dodds and John Byrne, will remain with the business following the acquisition, which has been backed by private equity firm Palatine\u2019s Impact Fund.<\/p>\n
Manchester-based Papilo now has revenues of \u00a360 million and a workforce of more than 200 employees.<\/p>\n
Michael Gibson, who recently joined Papilo as chief executive, described REKK as \u201can excellent strategic addition\u201d that enhances the group\u2019s presence in Scotland.<\/p>\n
He added: \u201cFounders 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.\u201d<\/p>\n
Greg Holmes, senior investment director at Palatine Impact Fund, said: \u201cREKK is an excellent fit for Papilo \u2013 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.”<\/p>\n
The transaction was funded by Kartesia and Virgin Money.<\/p>\n
Papilo was advised by Gateley (legal), Fellwood Advisory (debt advisory), MHA Smalley (financial and tax due diligence) and Luminii Consulting (commercial due diligence).<\/p>\n
Advisers to REKK included KBS (corporate finance) and Mackrell (legal).<\/p>\n
The post Waste manager REKK Recycling acquired by Papilo appeared first on Daily Business.<\/p>\n
#Waste #manager #REKK #Recycling #acquired #Papilo<\/p>\n","protected":false},"excerpt":{"rendered":"
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