SME investor BGF is making a further £3.3m investment into Liverpool city region digital kiosk manufacturer Evoke Creative. Tony McDonough reports
Digital kiosk, digital signage and interactive installation manufacturer Evoke Creative has secured a fresh £3.3m cash injection from a major investor.
SME investment specialist BFG ploughed £6m into Wirral-based Evoke in November 2018. This latest investment into the business, the exact value of which has not been disclosed, will support the firm in its UK and international growth.
From its headquarters in Bromborough, Evoke delivers digital and interactive products, such as kiosks and signage, to retail and hospitality businesses. Clients include McDonald’s, JD Sports, Bibliotheca and Google.
This year, the business has seen significant international growth securing contracts with two US multinational restaurant brands representing nearly 70,000 restaurants. Evoke has also signed a three-year contract with an international hotel brand worth £5.6m.
Chief executive Peter Edwards, said: “We’re delighted to announce today’s investment from BGF as their team continues to back our long-term growth strategy.
“We’ve had a standout year and are on course to deliver a 35% uplift in sales for our current financial year with huge potential for future growth. The investment will allow us to continue to invest in our technology and increase kiosk outputs to meet demand.”
According to Evoke’s most recent accounts, posted on Companies House, the firm saw a 37% surge in sales to £17.4m in the year to March 31, 2022. The company employs more than 70 people.
Evoke’s co-founder, Neil Clark is taking this opportunity to step away from his role but remains a shareholder and fellow co-founder Dean Ward will continue in his role as chief product officer.
Neil added: “I’m leaving the business in the very capable hands of Peter Edwards and a very strong management team.
“It’s been an amazing journey since Dean and I started the business 15 years ago and I’ve met some wonderful clients and suppliers on the way, so I’ll be sad to leave everyone.
“Evoke has an exciting future ahead, and I wish everyone, particularly Dean, all the best for the next phase of growth.”
Ian Plumb has also been named non-executive chair at Evoke. This appointment was supported by BGF’s Talent Network – one of the largest groups of board-level non-executives in the UK and Ireland.
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BGF investor, Rhys Davenport, also said: “Evoke has secured a series of impressive customer contracts this year in terms of value, scale and the calibre of brands they are supporting.
“We look forward to working with the team as they continue to build on this in the next chapter.”
Law firm DWF, including Will Munday, Matthew Judge, Alexander Szehidewicz, David Hill, advised BGF, while Brabners, including Daniel Hayhurst, Nathan Samuel and Brendan McAleese, advised Evoke.