Private equity player EVC Christows acquires Evolution

Evolution Capital will bring intellectual capital, corporate implementation and disciplined research expertise to the new group, which will be called The Evolution Group.

Private equity firm EVC Christows has conditionally acquired a majority shareholding in Evolution Capital Limited, which provides research, strategic advice and proprietary funding for private and public companies.

Alex Snow, group chief executive of EVC Christows, said: “The proposals we are putting forward are of vital significance to the group as it moves forward with its stated strategy. The team at Evolution brings a high level of intellectual capital, corporate implementation and disciplined research expertise to our private and public equity group.”

Oliver Vaughan, the chairman of Evolution has a 0.6 per cent of the issued share capital and has agreed in principle to sell his shares. When the acquisition is completed, Vaughan will step down as chairman to become non-executive director and Alexander Snow, group chief executive of EVC Christows will become chairman as well as chief executive.

EVC Christows was formed in October last year from the merger of internet incubator eVestment Company Plc and Christows Group Ltd, the stock broker. EVC paid E60.2m for the acquisition of Christows.

Evolution’s key sectors of interest and expertise include nanotechnology, wireless telecommunications, emerging engineering technology and other enabling technologies.