Evolve Group Eyes Growth With Yorkshire Bank Funding

6/5/09

Over the next year, Haydock-based Evolve Group, is predicting a 10-15 per cent increase on its current turnover of £7.5million after funding secured from Yorkshire Bank allowed it to invest around £1million in three new printing machines.

Evolve Group specialises in large-format digital print, bespoke signage manufacture and installation, and design services. Its clients include The Musgrave Group, The Co-operative Group, Matalan and Makro.

The company is understood to be the first in the UK to introduce the machines which are manufactured in Canada.

One of the new machines allows the company to print onto fabric 3.2 metres wide to create highly visible signage displays, while the other machines can print digitally onto rigid materials such as wood, MDF, glass, foam and aluminium. The machines use environmentally friendly UV ink and water based inks, rather than solvent based inks.

Paul Davidson, managing director of Evolve Group, said: “We had a turnover of £7.5million this year and this new printing equipment will allow us to grow that figure by 10-15 per cent over the next fiscal year and significantly beyond that.

“We have had the machines in place for several months and the increased capability has already allowed us to open up new markets and increase sales.”

Karen Blinkhorn, financial director of Evolve Group said: “We have a long-standing relationship with Yorkshire Bank and we are incredibly thankful to it for helping to fund this purchase of new technology.”

Simon King, a partner at Yorkshire Bank’s Financial Solutions Centre in Manchester, which provided the funding, said: “We continue to invest, as we always have done, in successful trading businesses and Evolve Group continues to be a major player in its sector.

“The company has continually diversified to stay ahead of the competition and continues to perform strongly.”

Evolve Group was established as Frodsham Sign and Display Ltd in St Helens in 1986 by Glynn Frodsham. Initially a small sign and display operation, the company has grown consistently over the years into a multi-million pound turnover business. Glynn Frodsham is now chairman of the company.