
January 22, 2009
SDR Ventures Provides $1.7 Million in Growth Financing to SRC Group, Inc.
Denver, CO – SDR Ventures, Inc., in conjunction with Stonehenge Growth Capital, announced a $1,700,000 subordinated debt investment to support the growing working capital needs of SRC Group, Inc. d/b/a Evolve.
Headquartered in Denver, Colorado, Evolve is a fast-growing manufacturer of custom-designed corporate apparel and uniform programs. Founded in 2002, Evolve designs and manufactures brand-identifying products for national clients such as Chipotle, DIRECTV, Qwest and the American Red Cross. 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 SDR Ventures and Stonehenge understood that corporate apparel can be a very powerful tool for extending a company’s brand.”
“Led by Founder and CEO Joel Wochner, Evolve has developed a unique approach and solutions package to the corporate branding and uniform industry,” said SDR Ventures founder Andy Limes. “Over the past 2 years SDR has watched the Company evolve and we believe Joel has positioned the company for significant growth and profitability. Evolve’s continued success is proof that great companies make strong gains in tough economic times.”
SDR Ventures, Inc.
About
A Colorado-based investment bank specializing in mergers and acquisitions, private placements of debt and strategic advisory services for the privately-held marketplace. SDR specializes in subordinated debt placements from $200,000 to $2,000,000 for growth capital, restructuring, and acquisition needs. Based in Greenwood Village, SDR has transaction and funding experience with lower middle-market companies in the Business Services, Manufacturing and Distribution industries.
SRC Group, Inc. d/b/a Evolve
About
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. More information can be found at www.EvolvePrograms.com.