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Keenan Recycling
Waste Management • Scotland • Growth
Company
information
Total BGF investment
£3.5 million
Investment date
Sept 2015 - Oct 2024
Head office
Aberdeenshire
BGF & Keenan Recycling
Keenan Recycling raised £3.5 million of growth capital from BGF in 2015. We supported the business as it scaled from a single depot in Aberdeen to 21 depots, covering the entire UK. It now collects over 50,000 tonnes of food waste a year, diverts this waste from landfill, and achieves large carbon emission savings for its customers.
We exited our investment in the business in 2024, after it was acquired by Biffa, the UK leader in sustainable waste management. The exit delivered a 2.4x money multiple (MM) return on our original investment, and Biffa is continuing to invest in and drive Keenan Recycling’s ongoing growth across the UK.
“This is an exciting new chapter for Keenan Recycling, after a long period of growth that BGF was instrumental in supporting — with investment, but also with advice, patience and good humour. We liked the BGF approach from day one. They really took the time to get to know us and, when I spoke to others in Scotland they’d invested in, everyone said they’d had a good experience. I’d happily pass on the same to anyone who asks me now.”
Founder & CEO of Keenan Recycling
