Palatine Backs Growth at Waste Management Company Papilo


We’ve made our second investment from our Impact Fund II with a significant investment in waste management and recycling services specialist Papilo (formerly known as Roydon Recycling UK). 

Headquartered in Swinton, Greater Manchester, Papilo is a trusted partner for a range of blue chip FMCG, in particular food and beverage, manufacturers across Europe, advising on waste management strategies to increase resource efficiency and support the circular economy.  Current CEO, Paul Hodgkiss will continue to lead the company, with all existing staff to remain with the business as part of the investment.

Paul Hodgkiss joined Papilo in 2010 and is leading the business through an impressive growth phase, with turnover doubling over the past three years. Ian McAulay will join Papilo as Chair, utilising his experience from previous roles, which include CEO positions at both Southern Water and Viridor.

Working with our Impact Fund, Paul and the team are focused on the expansion of Papilo’s European footprint by maximising a range of current opportunities with new and existing clients. The team are also focused on developing the business in terms of digital and technological enablement, as the waste management specialist accelerates its growth.

Greg Holmes, Impact Investment Director at Palatine, said: “Papilo is proven market-leader in developing innovative waste strategies, audits, consultancy and management.

“Given the circular economy is so high on the agenda, it is great to welcome a company with such an aligned mission to our Impact Fund, as we continue to deliver returns with purpose.

“We are excited to be working with the passionate team, with whom we share so many common values and look forward to using our experience to help the business grow its market presence and also supercharge its own internal opportunities.”

The investment is the second from our returns-focused Impact Fund II, which invests up to £25m in companies that are creating social or environmental change and tackling some of the biggest issues in society.

We were advised by CIL (commercial), Gateley (legal), Fluid IT (technology and operations), RSM (tax) and The Quinn Partnership (management). Papilo was advised by Sedulo (corporate finance), Squires (legal) and RSM (financial).

The team at Papilo has significantly grown over the last few years, as well as achieving great results. The investment from Palatine will enable us to multiply our positive impact with new and existing clients, as we aim for a fully circular economy.

We are incredibly driven by what we do and are thrilled to have found an investment partner with the same passion, and that has a track record of both impact investing and a deep commitment to ESG over many years.

Paul Hodgkiss

CEO of Papilo