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Burges Salmon advises the shareholders of Allwood Recycling Solutions on strategic sale to Papilo

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By Danny Lee
18 Feb 2026 5 min read
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We have advised the shareholders of Allwood Recycling Solutions Limited (Allwood) on the sale of the business to Papilo, a waste‑management specialist backed by Palatine’s Impact Fund.

The sale of Allwood sees Papilo grow to a combined group with more than 200 employees and annual revenues exceeding £60m. The transaction was funded by Palatine Impact II, Kartesia and Virgin Money, and is Papilo’s largest deal to date.

Allwood, founded in 2010 by Darren Wheeler, is a nationwide provider of total waste‑management services with a strong specialism in the distribution and logistics sectors. Allwood manages more than 150,000 tonnes of material each year and mirrors Papilo’s strong commitment to sustainability and zero‑landfill.

Our team was led by Danny Lee, Partner, and Scott Paterson, Associate, both from the firm’s Corporate and M&A team. The firm provided multidisciplinary expertise across Corporate, Tax, Real Estate and Employment to support the sellers throughout the transaction.

“We are delighted to have advised the shareholders of Allwood Recycling Solutions Limited on this significant transaction. This result reflects the hard work and commitment of the sellers and the wider advisory team.”

Danny Lee, Partner

“We’re very pleased to have brought this transaction to a successful close. As usual, the team at Burges Salmon did a great job – their expertise, sector knowledge and clear, pragmatic advice were invaluable throughout the process.”

Alan Milne and Scott Timber

We have a strong Corporate and M&A practice advising multinational organisations and institutions, entrepreneurial businesses and high‑net‑worth individuals. With extensive experience in complex private M&A and public takeovers, reorganisations and demergers, private equity transactions and equity capital markets, the firm provides expert guidance both in the UK and internationally.

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