- Downers Grove, Illinois-based Sevan Multi-Site Solutions announced it has raised $17.5 million in Series A funding led by ABS Capital Partners
Downers Grove, Illinois-based Sevan Multi-Site Solutions — a leader in data analytics, surveys, design, program management, and construction services — announced it has closed a $17.5 million Series A round of funding led by ABS Capital Partners. This round of funding will be used to expand business offerings, develop new technology, and strengthen the company to ensure continued growth and scalability. In conjunction with this round of funding, ABS Capital Partners managing general Partner Phil Clough is joining the Sevan board of directors.
“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!”
Launched in 2011, Sevan helps clients develop, refresh, and update their portfolio of sites. And large public competitors are not typically focused on the multi-site market and smaller companies are unable to compete with the quality of services Sevan provides.
There is an increased need to routinely renovate and manage facility operations across broad geographies. And global organizations are devoting more time and capital to maintain and improve existing sites rather than building new ones. And rebrands, new product introductions, joint ventures creating a store within a store, and new technology enabling self-service automation are all drivers of renovation programs.
“We were impressed by Sevan’s national presence, strong reputation, comprehensive suite of services and technology enablement,” Clough added. “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.”
Some of the company’s current customers include over 40 leading corporations across thousands of locations and include McDonald’s, Walgreens, Chipotle, BP, Starbucks, 7-Eleven, DaVita, HCA Healthcare and Walmart.