Evolve Business Group has completed a multi-million-pound deal with BGF to support UK and international growth.
In the last four years, Evolve has increased turnover from £6.8m to a targeted £20+ million this year. It expects to double turnover in the next three years.
The funding enables Evolve to improve its infrastructure with the creation of a new warehouse in Wigan. The company will also target further acquisitions to accelerate growth, as well as increase its national and international headcount by 40% over the next three years.
Evolve will focus largely on growing its US presence where it currently operates over 1,000 sites mainly in the fuel forecourt industry. Its aim is to expand into the quick service restaurant sector.
Alan Stephenson-Brown, CEO at Evolve, said: “Today’s announcement is a testament to our robust growth and the confidence of our investors and marks a strategic step forward.”
As part of the investment Adrian Thirkill, former CEO of CGI, will join Evolve’s board as Non-Executive Chair.