Multi award-winning producer, Evolution Aqua, has introduced a £12 million funding from the UK and Eire’s most lively progress capital investor, BGF.
Wigan-headquartered Evolution Aqua is a designer, producer and provider of a variety of water filtration merchandise and related gear, primarily centered on the aquatics trade for each indoor and out of doors fish care.
The funding will enable the enterprise to capitalise on bold progress alternatives in core markets and drive worldwide enlargement. The numerous minority funding may also allow the prevailing administration workforce, led by CEO and founder, Nick Jackson, to increase on utility of Evolution Aqua’s market main water filtration know-how into different vertical markets, together with swimming swimming pools and the quickly rising aquaculture area.
Commenting on the deal, Evolution Aqua’s CEO Nick Jackson stated: “Over the previous 20 years, Evolution Aqua has been on the forefront of water filtration know-how, repeatedly creating merchandise for our wide selection of customers, all of which depend on our merchandise to keep up excessive water qualities. We at the moment are ready to quickly construct on the platform we’ve created, which can embody launching thrilling new merchandise and increasing our worldwide presence. BGF, with its minority, affected person capital strategy and adaptability, are subsequently an ideal companion to embark on this subsequent stage of progress.”
The deal was led by Neil Inskip and Josh Bean, buyers in BGF’s Manchester workforce. As a part of the deal, David Algar might be becoming a member of the Evolution Aqua board as Non-Govt Chair. Sourced via BGF’s Expertise Community, David brings a wealth of expertise to the board, most just lately as Govt Chair and CEO of personal equity-backed fishing deal with enterprise Fox Worldwide, the place he helped double the dimensions of the enterprise and led a profitable exit to a US commerce purchaser. David can be former CEO of main gardening provider firm, Hozelock.
Neil Inskip, head of BGF within the North West, stated: “Evolution Aqua is a market chief within the out of doors pond and water filtration area, significantly on the higher finish of the market. With a superb repute for high quality and reliability, coupled with an in depth and rising product vary and important sector potential, there’s an actual alternative for Nick and the workforce to maximise their progress ambitions and take their award-winning filtration know-how into untapped markets. We’re delighted to be supporting Evolution Aqua on this thrilling journey, as they intention to capitalise on the potential that lies forward.”