Stellus Capital Management, LLC Provides Unitranche Financing and Equity Co-Invest in Support of Interlock Equity’s Investment in evolv Consulting

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01/23/2024 - 10:00 AM

HOUSTON--(BUSINESS WIRE)-- Stellus Capital Management, LLC (“Stellus”) announced today that its affiliates provided senior debt financing and an equity co-investment in support of Interlock Equity’s (“Interlock”) investment in evolv Consulting (“evolv” or the “Company”), a leading data-driven digital consulting firm.

Founded in 2018 and headquartered in Dallas, TX, evolv specializes in delivery across a full data technology stack, offering a comprehensive suite of services, including business strategy, data & analytics, and digital transformation to enterprise customers in the financial services, manufacturing, and healthcare industries. The Company’s consulting-led business model and end-to-end capabilities help organizations adapt to the rapidly changing business landscape and capitalize on opportunities presented by emerging technologies.

Stefan Jensen, Managing Director of Interlock, said, “The evolv organization is a highly talented group of individuals who provide strategic advisory services and deliver innovative technology solutions. We are very excited to partner with the management team and look forward to supporting the Company’s continued growth and success. We appreciate Stellus’ partnership, efficiency, and flexibility throughout the transaction process.”

John Sievers, Principal at Stellus, added, “evolv has experienced rapid growth since its founding and is well positioned to continue benefiting from increased demand for data processing and analytics, cloud services, and solutions engineering. We are excited to partner with Interlock and the evolv management team for the next phase of growth.”

About Stellus Capital

Stellus Capital Management (“Stellus”) is one of the longest tenured direct lenders specializing in senior secured loans in the lower middle market. Formed within the D.E. Shaw Group in 2004, Stellus spun out in 2012 and today manages $2.8 billion across various investment vehicles including closed-end institutional funds, a public BDC (NYSE: SCM), and a perpetual non-traded private BDC. Stellus is a single strategy firm and its founding partners have been investing together in the lower middle market for 19+ years with a track record of over $8.7 billion deployed in over 350 transactions. Stellus is headquartered in Houston, TX with offices in the Washington D.C. area and Charlotte, NC. Learn more at stelluscapital.com.