Evolve Business Group is poised for significant growth following a substantial investment from BGF. This funding marks a new phase in their ambitious expansion strategy.
With plans to enhance their presence in the US market and open a new warehouse in Wigan, the company aims to double its turnover in the coming years. The investment paves the way for further acquisitions and staff expansion.
Multi-Million-Pound Investment Fuels Expansion
Evolve Business Group has received a ‘multi-million-pound investment’ from BGF, aiming to expand its footprint both domestically and internationally. The Wigan-based company specialises in managed network and IT solutions. The funding will support their goal to double turnover within three years, building on their growth from £6.8m four years ago to over £20m.
This strategic injection of capital comes as Evolve seeks to enhance its presence in the USA, where they already manage over 1,000 sites predominantly in the fuel forecourt industry. The organisation plans to further extend its services to fast-food establishments, a sector with substantial growth potential.
New Infrastructure and Acquisitions
The group is set to establish a new warehouse in Wigan, a move designed to bolster its operational capabilities. This development aligns with Evolve’s strategy to enhance logistical efficiency in line with its growth objectives.
In addition to infrastructure enhancements, the investment will facilitate further acquisitions, enabling Evolve to broaden its reach and service offerings in key markets. These acquisitions are integral to achieving their ambitious expansion targets.
Leadership and Strategic Vision
Evolve’s leadership, including CEO Alan Stephenson-Brown, is instrumental in navigating this growth phase. Their vision focuses on innovation and simplification of connectivity for customers.
Stephenson-Brown stated, “The investment from BGF is a strategic step forward in advancing our mission to innovate in our industry.” This outlook highlights the company’s dedication to customer-centric growth and technological advancement.
Evolve’s partnership with BGF brings valuable experience and access to a robust network, essential for a fast-growing enterprise in the competitive business services sector.
Board and Investor Involvement
The investment deal was orchestrated by Pinesh Mehta and Josh Bean from BGF’s Manchester team. Additionally, Adrian Thirkill, former CEO of a BGF-backed IT firm, will join Evolve’s board as non-executive chair, providing strategic oversight.
BGF investor Pinesh Mehta noted Evolve’s extensive track record of growth across ten countries with over 6,000 global sites, driven by a dedicated management team capable of scaling operations in a competitive marketplace.
Focus on Headcount and Market Presence
Evolve Business Group has grown its workforce significantly, from 23 employees in 2020 to 117 today, directly reflecting its market advancements.
With plans to further increase headcount, the company aims to support its operational and market expansion efforts, ensuring the requisite human resources to sustain its business trajectory. This strategy underpins its commitment to maintaining service quality while pursuing growth.
Strategic Partnerships and Market Insights
The collaboration with BGF provides Evolve with strategic insights and resources essential for navigating its expansion journey. BGF’s experience in business and support services, having invested in over 50 companies, complements Evolve’s growth ambitions.
Evolve’s expansion is strategically structured to leverage BGF’s network and reputation, thereby strengthening its market position and operational capabilities across key regions.
The partnership is positioned as a transformative step, enabling Evolve to embrace new opportunities and challenges with confidence in a growing and dynamic market environment.
Future Outlook
Evolve Business Group stands on the cusp of a transformative period, driven by strategic investment and ambitious growth plans.
Evolve Business Group’s partnership with BGF marks a significant milestone, opening doors to new markets and opportunities. The company’s planned expansions and acquisitions, fuelled by BGF’s investment and strategic support, position it well for future success in the competitive business landscape.
