Sevan Multi-Site Solutions Attracts $17.5 Million Investment to Support Continued Growth
Sevan Multi-Site Solutions, Inc. (Sevan), a global leader in data analytics, surveys, design, program management and construction services, today announced they have closed a $17.5 million Series A funding round led by ABS Capital Partners, a leading late-stage growth company investor. The funding will be used to expand business offerings, develop new technology and strengthen the company to ensure continued growth and scalability.
“In just over eight years, Sevan has established our reputation as a go-to multi-site program management firm and industry expert,” said Jim Evans, President and CEO of Sevan. “ABS Capital will be a terrific partner in our journey ahead. Their experienced people, culture and deep understanding of technology investments will accelerate our growth. We are delighted to continue to deliver excellence to great clients, and together we will all grow!”
Founded in 2011, Sevan helps clients develop, refresh and update their portfolio of sites. Large public competitors are not typically focused on the multi-site market, and smaller companies are unable to compete with the breadth and quality of services Sevan provides.
There is an increased need to routinely renovate and manage facility operations across broad geographies. Global organizations are devoting more time and capital to maintain and improve existing sites rather than build new ones. Rebrands, new product introductions, joint ventures creating a store within a store and new technology enabling self-service automation are all current drivers of renovation programs.
As a result of the minority investment by ABS Capital Partners, Managing General Partner Phil Clough will join the Sevan board of directors.
“We were impressed by Sevan’s national presence, strong reputation, comprehensive suite of services and technology enablement,” Clough said. “ABS Capital, having successfully invested in a significant number of business services companies over the years, recognizes Sevan’s strong growth as a key indicator of future success.”
This is the first round of institutional capital raised by Sevan. Current customers consist of more than 40 leading corporations across thousands of locations and include McDonald’s, Walgreens, Chipotle, BP, Starbucks, 7-Eleven, DaVita, HCA Healthcare and Walmart.
In 2019, Sevan ranked #713 on the Inc. 5000 list of the nation’s fastest-growing private companies. In October 2018, Sevan was named one of the 100 Best Medium Workplaces by Great Place to Work® and FORTUNE, ranking #29 on the list. Sevan has been recognized as an Employee-Rated Great Place to Work for six consecutive years.
Sevan is a 500-person project management firm headquartered in Downers Grove, Illinois, with an international office in London.
About Sevan
Sevan Multi-Site Solutions, Inc. (Sevan)’s vision is to be the best in the world at delivering data analytics, virtual tours, surveys, design, program management and construction services to organizations with multiple sites. Sevan has a passion for sustaining people, the environment and its clients’ businesses. Sevan helps iconic global brands—including 7-Eleven, AAFES, Albertsons, BP, Bento Box, Chipotle, DaVita, HCA Healthcare, Hallmark, Kroger, McDonald’s, Marathon, Office Depot, Starbucks, Sunoco, Walgreens Boots Alliance and Walmart. Sevan rolls out multi-site initiatives efficiently, predictably and transparently. Applying breakthrough technology solutions, Sevan optimizes new builds, rebuilds, remodels and renovations. The company’s expertise spans numerous market sectors including banking, fuel and convenience store, government, restaurant, grocery, retail, healthcare, housing and hospitality industries. For more information, visit www.sevansolutions.com .
About ABS Capital Partners
For nearly 30 years, ABS Capital has been investing in later-stage growth companies, helping CEOs capitalize on new opportunities and navigate unforeseen obstacles – while never losing sight of the ultimate goal of achieving lasting excellence. Our partners have decades of experience as C-level executives, investment bankers, and investors in the industries in which we invest: business and tech-enabled services and health care. This combination of experience and expertise means we have a laser-focus on the specific needs growth companies face as they look to get to the next level. By helping to transform over 125 companies through their most important stage of development, ABS continues to help unleash the potential for lasting growth. ABS Capital Partners. Here, we grow. For more information, visit www.abscapital.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20191210005386/en/
Contact information
Hafsa Mahmood
Manager, Marketing & Communications
Phone: 312.285.0590
Email:
hafsa.mahmood@sevansolutions.com
Website:
www.sevansolutions.com
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