Fellwood Debt Advisory advises Papilo Group on its acquisition of Allwood Recycling Solutions.
Papilo Group, the UK-based total waste management solutions provider backed by Palatine’s Impact Fund, has completed its strategic acquisition of Allwood Recycling Solutions, supported by Fellwood’s Debt Advisory team (which is now part of Cooper Parry Deals).
The acquisition represents Papilo’s second transaction since Palatine’s investment and creates a scaled and diversified platform with annual revenues of more than £60 million and a combined workforce of over 200 employees.
Founded in 2010, Allwood Recycling Solutions is a nationwide provider of total waste management services with a strong specialism in the distribution and logistics sectors, managing over 150,000 tonnes of material per annum. Operating an asset-light model aligned with Papilo’s approach, the acquisition broadens the platform’s service offering across food, organics, wood, pallets, packaging and commodity recycling. The enlarged group is well positioned to support customers navigating increasing regulatory complexity and ESG requirements, while providing a strong platform for continued growth.
Fellwood Advisory, led by Director Stephen Gater and Associate Director Amit Bagga, was appointed as exclusive debt adviser to Papilo to support the financing of the transaction. The team ran a highly competitive debt process at pace, securing a scalable and sustainability-aligned funding solution from Kartesia’s Impact Fund. The financing provides acquisition support alongside clear headroom for Papilo’s long-term organic growth and future M&A ambitions.
Stephen Gater, Director at Fellwood Advisory, commented: “We are pleased to have supported Papilo and Palatine on Project Royal. The acquisition enhances the strength of the platform, adding scale and further diversifying service capabilities, with strong alignment between Papilo and Allwood and a number of characteristics that are highly attractive from a debt perspective.”
Greg Homes, Senior Investment Director at Palatine Impact Fund, said: “Papilo’s acquisition of Allwood Recycling Solutions marks an important milestone in building a larger, more specialist platform and continuing to support customers as waste regulation and ESG requirements become increasingly complex. Stephen and Amit provided outstanding support throughout the process, running a highly competitive debt raise against a tight timetable and securing sustainability focused funding from Kartesia’s Impact Fund that underpins both this transaction and Papilo’s longer term growth plans.”
Russell Collins, Chief Financial Officer at Papilo Group said: “We worked very closely with Stephen and Amit throughout this process and were consistently impressed by their grasp of both our business and the wider funding market. They led a tightly managed, competitive debt process that delivered a fantastic solution from Katersia’s Impact Fund which gave us the firepower to complete this acquisition while also supporting Papilo’s long term growth strategy.”
Papilo was advised by Gateley (legal), Fellwood Advisory (debt advisory), Forvis Mazars (financial and tax due diligence) and Luminii Consulting (commercial due diligence).
The acquisition marks another milestone in CP Deals’ work across the waste, recycling and sustainability sectors.
