Wigan IT solutions specialist lands 'multi-million' BGF investment
Summary
Wigan-based Evolve Business Group, a specialist in end-to-end managed network and IT solutions, has secured a multi-million-pound investment from BGF.Founded in 2005, BGF has built a strong reputation for helping businesses to reduce costs and simplify the management of services across a variety of sectors, including retail, hospitality, food-to-go (FTG) and petroleum franchises.In the last four years, Evolve has increased turnover from \xa36.8mto a targeted \xa320+ million this year. The aim is to expand into the Quick Service Restaurant (QSR) sector.In addition, the company aims to improve its infrastructure with the creation of a new warehouse in Wigan, target further acquisitions to accelerate growth, as well as increase its national and international headcount by 40% over the next three years. The investment from BGF is not just a testament to our robust growth and the confidence of our investors, its also a strategic step forward in advancing our mission to innovate in our industry, and take the pain out of connectivity for our customers. 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, investors in BGFs Manchester team. Thirkill, who was CEO of former BGF-backed business, GCI one of the UKs largest privately-owned ICT service providers will bring a vast amount of 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 across the globe.That strength and depth, in both proposition and presence, is driven by a highly experienced management team who have the experience to a scale a business in a robust marketplace that has significant potential.