The award-winning manufacturer, Evolution Aqua, the most active growth capital investor in the UK and Ireland, has announced a £ 12 million investment from BGF.
Wigan-Headquartered Evolution Aqua is a designer, manufacturer and supplier of a wide range of water filtration products and related equipment, primarily focused on the aquatic industry for the care of both indoor and outdoor fish.
Funding will allow businesses to capitalize on ambitious growth opportunities in key markets and drive international expansion. Significant minority investment will enable the existing management team led by CEO and founder Nick Jackson to expand Evolution Aqua’s market-leading application of water filtration technology to other vertical markets, such as swimming pools and fast-growing aquaculture sites.
Commenting on the deal, Nick Jackson, CEO of Evolution Aqua, said: “For the past 20 years, Evolution Aqua has been at the forefront of water filtration technology, constantly developing products for our wide range of users, all relying on our products to sustain. High water qualities. We are now in a position to rapidly build on our built-in platform, which will include launching exciting new products and expanding our international presence. BGF, with its minority, patient capital approach and flexibility, is therefore a perfect partner for growth in this next stage. “
The deal was led by BGF’s Manchester team investors Neil Inskip and Josh Bean. As part of the deal, David Algar will join the Evolution Aqua Board as a non-executive chair. Emerging through BGF’s talent network, David has a wealth of experience on board, most recently as executive chair and CEO of the private equity-backed fishing tackle business Fox International, where he has helped double the size of the business and led a successful exit. US trade buyers. David is the former CEO of Hozelock, a leading gardening provider.
Neil Inskip, head of the BGF in the North West, said: With a great reputation for quality and reliability, a wide and growing product range and significant sector potential, Nick and his team have a real opportunity to maximize their growth ambitions and take their award-winning filtration technology to unused markets. We are happy to support Evolution Aqua on this exciting journey, because they want to seize the potential ahead. “