Multichannel business supplies firm evo which has been backed by Endless has raised funds to exercise a management buy out which will see evo CEO Andrew Gale along with CFO Jon Maxted lead the business and for Endless LLP to achieve a successful exit.
evo operates under six trading names which together generate £500m in sales and employ around 2000 members of staff. In addition to supplying office stationery, equipment and consumables, the business also fulfils orders for resellers.
Andrew Gale said: From day one as chief executive the goal was to materially transform the trading results of evo and to enable an exit for Endless. Over the last two years as CEO, EBITDA has doubled, with record EBITDA results recoded for both FY24 and FY25, which has now enabled an exit for Endless to be delivered.
“Endless have been a fantastic investor in evo over the past 16 years, and together we have navigated this period with the support of some high-quality individuals.”
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