Business Bio

Andusia Recovered Fuels Limited was established in 2012 when the RDF export market was in its infancy. Since then, it has become the UK’s largest independent exporter, offering a full and flexible supply chain solution for collecting and delivering RDF from UK producers (independent management-owned waste businesses) to the energy from waste plants in Europe.

Loan Amount




Funding Need



Waste management

Their Journey

We are delighted to have provided Andusia, the UK’s leading aggregator and exporter, with funding to support their management buy-out. 

Based in Hertford, Andusia is the UK’s largest independent exporter of commercial waste, servicing the rapidly growing energy from waste market. In an economy evermore concerned about its environmental impact, Andusia offers a cost-effective and environmentally friendly solution to waste management, taking municipal and commercial waste from the UK to energy plants in the EU. To date, they have exported enough bales of waste to stretch from London to Spain.

The bespoke funding solution is set to part-fund a management buyout by allowing key staff to become minority shareholders in the business. With fresh growth in mind, the management buyout will mean that key employees will also benefit directly from the future success of the business.

Steve and Stewart.png
Stewart Brackenbury and Steve Burton, Directors at Andusia 

ThinCats was introduced to Andusia by Ryan Shields,  Associate Director Corporate Finance at Grant Thornton who also provided financial information.

Ryan Shields, Associate Director, Grant Thornton “Andusia has a well diversified client base with contracted income streams in a sector with great growth potential, so we thought it would be a good match with ThinCats’ flexible cash flow product. ThinCats agreed with our initial analysis and we were delighted with how the transaction progressed from there.”

Kash Moghul, Director, Regional  Business Development, ThinCats “Andusia is a fascinating business, working in a vital sector and providing an innovative solution to the constant issue of waste management.

Andusia has an excellent leadership team and we are delighted that the transaction will enable key staff to have a greater shareholding in the business. Finding new ways to reduce the environmental impact of landfill is a challenge affecting all of us, so we wish Andusia every success with their plans for the future.”


Learn more about Andusia


When we celebrated exporting our millionth tonne of RDF in 2018, we knew that we had reached the scale needed to expand further into the energy from waste sector. So we were delighted to be introduced to ThinCats, who quickly created a funding package to meet our specific needs. The funding will help us further align key staff with the business as we pursue ambitious expansion plans in the UK and continental Europe

Steve Burton, Director, Andusia

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