Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Evolve Business Group secures multi-million-pound BGF investment to drive ambitious growth

by August 5, 2024
August 5, 2024
Evolve Business Group secures multi-million-pound BGF investment to drive ambitious growth

Evolve Business Group, a Wigan-based specialist in managed network and IT solutions, has received a multi-million-pound investment from BGF, a leading growth capital investor in the UK and Ireland.

Founded in 2005, Evolve has built a solid reputation for helping businesses reduce costs and simplify service management across various sectors, including retail, hospitality, food-to-go (FTG), and petroleum franchises.

Over the past four years, Evolve has seen significant growth, with turnover rising from £6.8 million to a projected £20+ million this year. The company aims to double this figure within the next three years. The new funding from BGF will support Evolve’s ambitious plans for UK and international expansion, focusing particularly on the United States, where it currently operates over 1,000 sites in the fuel forecourt industry and plans to expand into the Quick Service Restaurant (QSR) sector.

The investment will also enable Evolve to enhance its infrastructure by establishing a new warehouse in Wigan, pursue further acquisitions to accelerate growth, and increase its national and international headcount by 40% over the next three years. Since 2020, Evolve has expanded its workforce from 23 to 117 employees.

Alan Stephenson-Brown, CEO of Evolve, commented: “Today’s announcement marks a pivotal moment in Evolve’s journey. The investment from BGF is not just a testament to our robust growth and the confidence of our investors; it’s also a strategic step forward in advancing our mission to innovate in our industry and take the pain out of connectivity for our customers. We are excited about the opportunities this investment will unlock and remain committed to delivering unparalleled value to our stakeholders.”

He added: “BGF has the right level of experience we need as an ambitious and fast-growth business, with the added benefits of a dedicated value creation team and strong network. Its strong reputation for supporting dynamic and exciting businesses on a wide range of growth strategies makes them an ideal partner as we enter the next phase of our growth journey.”

The deal was led by Pinesh Mehta and Josh Bean from BGF’s Manchester team. As part of the investment, Adrian Thirkill will join the board as non-executive chair. Thirkill, the former CEO of GCI, one of the UK’s largest privately-owned ICT service providers, brings extensive sector and strategic experience to the board.

BGF investor Pinesh Mehta added: “Evolve has a strong track record of achieving top-line growth through a loyal and longstanding customer base that spans 10 countries, with over 6,000 sites now managed by the business globally. That strength and depth, in both proposition and presence, is driven by a highly experienced management team who have the experience to scale a business in a robust marketplace that has significant potential. Business and support services is a sector that BGF understands inside and out, having invested more than £350 million, supporting over 50 businesses. Our credentials, combined with Evolve’s ambition and expertise, make this an extremely exciting deal, and we’re delighted to be joining the team as they embark on this exciting chapter.”

Read more:
Evolve Business Group secures multi-million-pound BGF investment to drive ambitious growth

0
FacebookTwitterGoogle +Pinterest
previous post
£1m boost for Cambridge spin-out behind solar panel innovation
next post
Getting to Know You: Amy Knight, Co-Founder of Must Have Ideas

You may also like

Northern Ireland economy faces uncertainty with double blow

July 3, 2024

Simón Levy Explores Cross-Cultural Insights and Fostering Global...

October 25, 2024

6 Important things to include in your Website

September 22, 2023

Capita, Pizza Express and Lidl among 500+ firms...

May 30, 2025

Google’s Proposal for AI Systems and Publisher Opt-Out:...

August 9, 2023

Entain bounces back with strong online gambling growth...

September 10, 2024

Nick Jones, founder of Soho House private members’...

November 17, 2022

UK start-ups create fewer jobs as business closures...

May 26, 2025

POS Integration: How to Connect Offline and Online...

August 15, 2023

FXGiants Adds Futures to Its Lineup, Now Offering...

November 18, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Homeless people can be removed from streets by cities, states in new Trump executive order

      July 24, 2025
    • US pulls team from ceasefire talks in Qatar after Israel does the same, claiming Hamas is acting in bad faith

      July 24, 2025
    • US and Israel urgently need to replenish weapons stockpiles after 12-day war, defense analysts warn

      July 24, 2025
    • Ron Klain dodges reporters after marathon grilling in Biden cover-up probe

      July 24, 2025
    • GREGG JARRETT: Newly declassified documents destroy Russian collusion hoax

      July 24, 2025
    • S&P 500 Breaking Out Again: What This Means for Your Portfolio

      July 24, 2025

    Categories

    • Business (8,568)
    • Investing (2,145)
    • Politics (16,192)
    • Stocks (3,227)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved