Evolve Automotive Repair Centre has secured £375,000 in funding from the Midlands Engine Investment Fund II. This investment will support the company’s expansion plans, which include opening new locations in other Midlands cities.
Evolve currently operates sites in Coventry, Birmingham, and Leicester. Following their recent acquisition of PL Carbodies in Warwick, they have doubled the site’s turnover and expanded its team. The founders, Stefan Hill and Jack Thomas, aim to have ten locations within the next four years.
Evolve specialises in insurance and rental vehicle repairs. They hold accreditations from BMW and Hyundai in Warwick and aim to gain approvals from other manufacturers across their sites. Additionally, the company is preparing for the rise of electric vehicles with their Leicester site already specialising in EV repairs.
“We recognise that having the right people is key to success,” said Stefan Hill, Director at Evolve. “We invest in technology, training, and creating a positive work environment.”
Ryan Cartwright of Frontier Development Capital, the appointed fund manager for the Midlands Engine Investment Fund II, praised Evolve’s rapid growth. He believes the company has the potential to expand further through new client acquisition, manufacturer approvals, and additional locations.
This funding will allow Evolve to continue its growth trajectory while contributing to job creation in the Midlands region.
Source: Warwickshire World