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10/12/2008
Stonehenge Growth Capital Invests in Evolve
Denver, CO - Stonehenge Growth Capital (“Stonehenge”), in conjunction with SDR Ventures, announced a $1.7 million mezzanine debt investment in SRC Group, Inc. d/b/a Evolve (“Evolve”). Founded in 2002, Evolve has established itself as a leader in the design, development and delivery of corporate apparel and uniform programs.
The financing will support the working capital requirements of the company as it expands its customers, product offerings and employee base. “Evolve takes a fresh approach to corporate apparel and uniforms,” said Joel Wochner, Founder and President of Evolve. “We partner with our clients to understand their specific needs and marketing goals. Evolve then develops customized uniforms and apparel designed to support a company’s brand and set them apart from the competition. We’re thrilled that Stonehenge and SDR Ventures understood that corporate apparel can be a very powerful tool for extending a company’s brand.”
“Evolve has been able to achieve impressive growth over the last several years”, said Andy Aye, Managing Director of Stonehenge. “The company continues to win business from “pick from the catalog” competitors because it is able to provide higher quality apparel and uniforms that are integrated with the customer’s branding initiatives while being closely tailored to the employee’s utilization requirements.”
About Evolve
Evolve (www.evolveprograms.com) is a Denver, CO based provider of custom-designed apparel and uniform merchandise. Evolve’s approach is customized down to the threads, buttons and treatments. The company has developed a unique four-step approach to provide this level of service, including an extensive network of industry-approved supply chain partners that ensures the highest quality products are delivered in the most ethical and secure manner. Evolve benefits from its expertise in dynamic e-business solutions, overseas buying, sourcing and design for retail and wholesale markets, fulfillment, inventory management, logistics, customer service and promotional products.
About Stonehenge Growth Capital
Stonehenge Growth Capital (“Stonehenge”) (www.stonehengegc.com) manages over $677 million in venture capital, private equity and mezzanine debt funds for Stonehenge Capital Company ("SCC"). SCC is a nationwide specialty finance firm with expertise in principal investment, asset management, tax credit finance and structured finance transactions. In addition to Stonehenge’s principal investment activities, SCC has closed more than $1 billion of structured finance and tax credit transactions from its offices in Alabama, Colorado, Florida, Louisiana, Missouri, New York, Ohio, Texas and Wisconsin.
The financing will support the working capital requirements of the company as it expands its customers, product offerings and employee base. “Evolve takes a fresh approach to corporate apparel and uniforms,” said Joel Wochner, Founder and President of Evolve. “We partner with our clients to understand their specific needs and marketing goals. Evolve then develops customized uniforms and apparel designed to support a company’s brand and set them apart from the competition. We’re thrilled that Stonehenge and SDR Ventures understood that corporate apparel can be a very powerful tool for extending a company’s brand.”
“Evolve has been able to achieve impressive growth over the last several years”, said Andy Aye, Managing Director of Stonehenge. “The company continues to win business from “pick from the catalog” competitors because it is able to provide higher quality apparel and uniforms that are integrated with the customer’s branding initiatives while being closely tailored to the employee’s utilization requirements.”
About Evolve
Evolve (www.evolveprograms.com) is a Denver, CO based provider of custom-designed apparel and uniform merchandise. Evolve’s approach is customized down to the threads, buttons and treatments. The company has developed a unique four-step approach to provide this level of service, including an extensive network of industry-approved supply chain partners that ensures the highest quality products are delivered in the most ethical and secure manner. Evolve benefits from its expertise in dynamic e-business solutions, overseas buying, sourcing and design for retail and wholesale markets, fulfillment, inventory management, logistics, customer service and promotional products.
About Stonehenge Growth Capital
Stonehenge Growth Capital (“Stonehenge”) (www.stonehengegc.com) manages over $677 million in venture capital, private equity and mezzanine debt funds for Stonehenge Capital Company ("SCC"). SCC is a nationwide specialty finance firm with expertise in principal investment, asset management, tax credit finance and structured finance transactions. In addition to Stonehenge’s principal investment activities, SCC has closed more than $1 billion of structured finance and tax credit transactions from its offices in Alabama, Colorado, Florida, Louisiana, Missouri, New York, Ohio, Texas and Wisconsin.
| Associated Company |
| Evolve |
| Associated Office |
| Denver |
