BGF backs Evolution Aqua in £12m investment



Multi award-winning manufacturer, Evolution Aqua, has announced a £12 million investment from the UK and Ireland’s most active growth capital investor, BGF.

Wigan-headquartered Evolution Aqua is a designer, manufacturer and supplier of a wide range of water filtration products and associated equipment, primarily focused on the aquatics industry for both indoor and outdoor fish care.

The funding will allow the business to capitalise on ambitious growth opportunities in core markets and drive international expansion. The significant minority investment will also enable the existing management team, led by CEO and founder, Nick Jackson, to expand on application of Evolution Aqua’s market leading water filtration technology into other vertical markets, including swimming pools and the rapidly growing aquaculture space.

Commenting on the deal, Evolution Aqua’s CEO Nick Jackson said: “Over the past 20 years, Evolution Aqua has been at the forefront of water filtration technology, continuously developing products for our wide range of users, all of which rely on our products to maintain high water qualities. We are now in a position to rapidly build on the platform we have created, which will include launching exciting new products and expanding our international presence. BGF, with its minority, patient capital approach and flexibility, are therefore a perfect partner to embark on this next stage of growth.”

The deal was led by Neil Inskip and Josh Bean, investors in BGF’s Manchester team. As part of the deal, David Algar will be joining the Evolution Aqua board as Non-Executive Chair. Sourced through BGF’s Talent Network, David brings a wealth of experience to the board, most recently as Executive Chair and CEO of private equity-backed fishing tackle business Fox International, where he helped double the size of the business and led a successful exit to a US trade buyer. David is also former CEO of leading gardening supplier company, Hozelock.

Neil Inskip, head of BGF in the North West, said: “Evolution Aqua is a market leader in the outdoor pond and water filtration space, particularly at the upper end of the market. With an excellent reputation for quality and reliability, coupled with an extensive and growing product range and significant sector potential, there’s a real opportunity for Nick and the team to maximise their growth ambitions and take their award-winning filtration technology into untapped markets. We’re delighted to be supporting Evolution Aqua on this exciting journey, as they aim to capitalise on the potential that lies ahead.”





Source link


Like it? Share with your friends!

What's Your Reaction?

hate hate
0
hate
confused confused
0
confused
fail fail
0
fail
fun fun
0
fun
geeky geeky
0
geeky
love love
0
love
lol lol
0
lol
omg omg
0
omg
win win
0
win
Administrator

0 Comments

Your email address will not be published.

Choose A Format
Personality quiz
Series of questions that intends to reveal something about the personality
Trivia quiz
Series of questions with right and wrong answers that intends to check knowledge
Poll
Voting to make decisions or determine opinions
Story
Formatted Text with Embeds and Visuals
List
The Classic Internet Listicles
Countdown
The Classic Internet Countdowns
Open List
Submit your own item and vote up for the best submission
Ranked List
Upvote or downvote to decide the best list item
Meme
Upload your own images to make custom memes
Video
Youtube and Vimeo Embeds
Audio
Soundcloud or Mixcloud Embeds
Image
Photo or GIF
Gif
GIF format