Evolution Home Improvements was today revealed as having been acquired by Surgit Singh, co-founder of the original company 20 years ago.
The specialist timber-alternative manufacturer had been acquired by Everest 2020 less than a year ago when it bought the profitable business from the administration of the UK Windows and Doors Group https://www.the-glazine.com/?p=10786 and has now been rescued as a separate entity from the Everest collapse, securing the future of the company and its workforce of 60.
Surgit Singh was one of the creators of Evolution in 2004 before selling the company to Masco in 2014.
In a statement today, he said he and his management team aim to reclaim Evolution’s position as the market leader in the timber alternative industry, with a strategic focus on innovation, sustainability, and fostering long-term relationships with all stakeholders, including staff, customers, and suppliers.
Chris Farrington, Partner at ReSolve and joint administrator to Everest 2020, said: “We are pleased to have completed the sale of Evolution to Mr Surgit Singh, one of the original founders of the business. We were able to move quickly, securing the future of the business and over 60 jobs. We wish Surgit and Evolution all the best for the future.”
It was also announced today that the sale of the order book, brand and other assets of Everest to Anglian has been completed (see separate article).