A multi-million pound deal between leading Scottish food waste recycling firm, Keenan Recycling, and Business Growth Fund (BGF) is in the running to be named one of the top investment deals struck in the past year.
Keenan Recycling, a family run business headquartered in New Deer, with a second base in Linlithgow in the Central Belt, is one of three Scottish companies shortlisted for the Small/Mid-sized Company Deal of the Year Award at this year’s Scottish Business Insider Deals and Dealmakers Awards.
The award-winning firm has been named as a finalist after securing a £2.2million investment from BGF.
As part of the deal, BGF, an independent company providing growth capital for small and mid-sized businesses, secured a minority equity stake in the firm and a seat on the board.
The agreement supported Keenan’s expansion into the Central Belt with the launch of an office near Edinburgh and its investment in an eight-acre site for development in Linwood, near Glasgow as well as paving the way for the firm’s ambitious plans to grow turnover from £7m to between £30-£40m in the coming five years.
The awards ceremony will take place in Glasgow on Wednesday, September 7.