Evolve is pleased to announce that they have successfully transitioned into their first-ever investment. In three years, Evolve, a previously privately held company with over 19 years of operation and an impressive growth trajectory, expects to double its turnover.
The Managed Networks Provider is receiving funding from BGF, a well-known investment company. BGF has an extensive portfolio of businesses, both inside and outside the telecoms sector. Evolve insists on harnessing the expertise provided by BFG’s industry experts. BGF seamlessly aligns with Evolve’s values, ESG initiatives, and people focus.
Evolve plan to use the investment to fund UK and international expansion plans, with a primary focus on US expansion (Evolve currently operates 1,200 sites in the US, across multiple states – predominantly in the fuel forecourt industry, but is looking to move more into the Quick Serve Restaurant sector, working in conjunction with existing partners.) Furthermore, there will be a new focus on hiring key people; investing in additional expertise. In terms of headcount, Evolve has grown significantly in the past few years, taking its headcount from 23 in 2020 to 117 in 2024. With the investment from BGF, Evolve is hoping to increase national and international headcount by 40% over the next three years.
A new non-executive director from BGF will join Evolve as part of the investment, with decades of telecoms sector experience. Throughout the process, Evolve will be looking to harness BGF’s wider industry knowledge in sectors such as retail, quick service restaurants, and hospitality.
Alan Stephenson-Brown, Evolve’s CEO, commented on the investment.
“Today’s announcement signifies a crucial milestone in Evolve’s journey. The investment from BGF not only highlights our significant growth and the trust of our investors but also represents a strategic move towards advancing our mission to innovate within our industry and alleviate connectivity challenges for our customers. We are enthusiastic about the opportunities this investment will create and remain dedicated to providing exceptional value to our stakeholders.”
Evolve is enthusiastic about the company’s future growth and the prospects that lie ahead.
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About Evolve Business Group and Evolve
Evolve Business Group is an independently owned company that specialises in providing end-to-end IT and managed network solutions to a range of businesses. Evolve is helping businesses to reduce costs and simplify the management of services and give business owners and their teams more time to do what they do best.
Founded in 2005, it has worked with a variety of customers across different industries around the world, building a team of highly experienced specialists to help create effective and efficient packages using any combination of different offerings. It keeps a range of cross-sector networks protected and connected.
