Evolve Business Group, a specialist in managed network and IT solutions based in Wigan, has secured a significant ‘multi-million-pound’ investment from BGF.
This strategic move is set to bolster the company’s expansion plans both within the UK and internationally, particularly in the United States.
Investment Secured
Evolve Business Group, based in Wigan, has secured a ‘multi-million-pound’ investment from BGF. This investment is a significant milestone for the company, allowing them to push forward with ambitious expansion plans. Evolve has been operating since 2005 and has established a strong reputation in managed network and IT solutions.
The funding from BGF will facilitate expansion not only within the UK but also internationally, with a particular focus on the United States. Evolve already operates over 1,000 sites across multiple states and aims to grow further, especially in the Quick Service Restaurant (QSR) sector.
Strategic Growth Plans
The investment will be utilised to enhance Evolve’s infrastructure, including the creation of a new warehouse in Wigan. This infrastructure upgrade is critical for supporting their growing operations and facilitating future expansions.
In addition to the new warehouse, Evolve plans to target further acquisitions to accelerate growth. The company’s goal is to double their turnover in the next three years, after increasing it from £6.8 million to over £20 million in the past four years.
Workforce Expansion
Since 2020, Evolve has significantly grown its workforce from 23 to 117 employees. This growth trajectory is expected to continue, with plans to increase both national and international headcount by 40% over the next three years.
This strategic workforce expansion is essential for meeting the company’s ambitious growth targets and ensuring they can deliver on their commitments to customers and stakeholders.
The new roles will support various aspects of Evolve’s operations, from tech support to management positions, thereby strengthening their overall service delivery.
Leadership and Expertise
The deal was led by Pinesh Mehta and Josh Bean from BGF’s Manchester team. As part of this investment, Adrian Thirkill will join Evolve’s board as a non-executive chair.
Thirkill is expected to bring invaluable sector and strategic experience to Evolve’s board, having served as CEO of GCI, one of the UK’s largest privately-owned ICT service providers.
The leadership team at Evolve, including CEO Alan Stephenson-Brown, views this partnership as a pivotal moment for the company, offering new opportunities for innovation and growth.
BGF’s Commitment and Vision
According to BGF investor Pinesh Mehta, Evolve has a robust track record of achieving growth through a loyal and longstanding customer base. The company now manages over 6,000 sites globally, spanning 10 countries.
Mehta also highlighted the strong alignment between BGF’s credentials and Evolve’s ambition, making this investment an exciting collaboration.
BGF has invested more than £350 million in supporting over 50 businesses within the business and support services sector, demonstrating their deep understanding and expertise in the marketplace.
Customer Impact
The investment is expected to deliver significant benefits to Evolve’s customer base, enhancing the quality and reliability of their services.
CEO Alan Stephenson-Brown emphasised that the investment will help Evolve take the pain out of connectivity for their customers, reinforcing their commitment to delivering unparalleled value.
As Evolve grows, customers can expect improved service offerings and greater support, making the company’s solutions even more attractive.
Future Outlook
The partnership between Evolve and BGF positions them well for future growth and success. With the combined expertise and resources, both parties are optimistic about the opportunities ahead.
Evolve aims to continue innovating and expanding, leveraging this investment to solidify their market position and explore new growth avenues.
The ‘multi-million-pound’ investment from BGF marks a pivotal chapter in Evolve’s growth journey.
With plans for infrastructure enhancement, workforce expansion, and international growth, Evolve is poised for a bright future.
