# Evergreen Services Group

San Francisco, California. The managed IT trade's most prolific buyer, and a permanent one: it says it never divests, pays all cash, closes inside ninety days, and passed its hundredth acquisition in its seventh year.

- Website: https://www.evergreensg.com
- Runs a searcher or operator-in-residence program, so it competes for the same businesses while sitting closer to the searcher ecosystem.

## The Firm

Evergreen Services Group buys technology services companies with high recurring revenue, managed IT above all, and holds them in three portfolios: Lyra Technology Group for managed service providers, Pine Services Group for ERP and application software, and Cedar Solutions Group. It runs from Montgomery Street in San Francisco with desks in London and Melbourne, it is an Alpine Investors platform, and in June 2025 it announced its hundredth IT services acquisition, in its seventh year.

The pitch to a seller is the part worth reading closely, because it is the offer a searcher has to beat. Evergreen calls itself a permanent home for businesses, says it never divests from the companies it partners with, buys for cash, and says it can close inside ninety days. Its co-founder puts the aim as replicating the Berkshire Hathaway model with a decentralized operating structure and a permanent hold. Owners keep their leadership, their staff and their name: ImageQuest's founder stayed on as chief executive when it joined Lyra in July 2025.

That changes how a listing in this trade should read. A market that looks like thousands of independent shops has one buyer working it continuously across the United States, the United Kingdom, Ireland, Canada and Australia. A retiring owner who wants the business to outlive them is being offered something a first-time buyer usually cannot match. The counter is not price so much as presence: Evergreen is not in the room until a deal is on the market, and an owner who is not looking has no reason to call it.

The same firm is on this site's job board. Its Executive Program puts recent MBAs into a profit-and-loss seat at one of the operating companies, which makes Evergreen both the competing bidder and one of the employers a reader here might apply to. Anyone meeting it either way should carry the three-portfolio structure, the permanent-hold language, and the fact that the operating company, not the fund, is usually the counterparty an owner deals with. Read again in September 2026: twelve purchases the registry lacked, most of them abroad and half of them ERP consultancies bought by a separate vertical, with one American managed service provider among them. The firm's own count is forty-seven in 2025, thirty-three of them managed service providers.

## In Its Trades

- MSP: https://searchspheresource.com/guides/buying-an-msp

The other confirmed bidders: Alpine Investors (https://searchspheresource.com/buyers/alpine-investors), Prospect Partners (https://searchspheresource.com/buyers/prospect-partners), Kingsway Corporation (https://searchspheresource.com/buyers/kingsway).

## Confirmed Deals

Deals traced to announcements, newest first. Firms that announce every deal show a fuller run here than firms that report acquisitions as quarterly counts, so read this as the evidence that clears the bar rather than as the firm's whole record.

- Evolution Business Systems (into Pine Services Group) (2026-09-10): A Melbourne Microsoft Dynamics partner founded in 2001, bought by the ERP vertical; not American, not an MSP. Source: https://www.evergreensg.com/evergreen-acquires-melbourne-based-microsoft-partner/
- Datel (2026-07-20): The UK's largest and longest-established Sage partner, founded in 1981, into the ERP portfolio as its founder handed over. Source: https://www.evergreensg.com/evergreen-acquires-datel-uks-top-sage-partner/
- Office Solutions IT (into Lyra Technology Group) (2026-06-04): A Perth managed IT provider, the firm's largest purchase in the region, employee-owned before the sale; not American. Source: https://www.evergreensg.com/evergreen-acquires-additional-esop/
- Stratus Consulting Group (into Pine Services Group) (2026-05-13): An Australian ERP consulting and implementation partner bought by the ERP vertical; not American. Source: https://www.evergreensg.com/pine-acquires-australian-erp-firm-stratus/
- Inixion (into Pine Services Group) (2025-12-19): A British Sage ERP consultancy with nearly half its revenue from American-headquartered customers; not American. Source: https://www.evergreensg.com/pine-services-group-welcomes-inixion-to-its-family-of-companies/
- Acumen Information Systems (into Pine Services Group) (2025-11-14): A Clermont, Florida Sage partner bought by the ERP vertical; ERP consulting, not managed services. Source: https://www.evergreensg.com/evergreens-pine-services-group-expands-sage-expertise-with-strategic-acquisition-of-acumen-information-systems/
- Eureka Solutions (into Pine Services Group) (2025-11-06): An East Kilbride business systems provider, the firm's first Scottish purchase; not American. Source: https://www.evergreensg.com/eureka-solutions-joins-evergreens-pine-services-group-as-first-scottish-acquisition/
- Blackbird IT (into Lyra Technology Group) (2025-10-15): A South Australian managed IT provider in Dulwich; not American. Source: https://www.evergreensg.com/evergreen-welcomes-blackbird-it-to-global-family-of-leading-msps/
- DB Computer Solutions (into Pine Services Group) (2025-09-23): An Irish Sage and IT services provider with Limerick and Dublin offices; not American. Source: https://www.evergreensg.com/pine-services-group-expands-internationally-with-irish-sage-erp-partner/
- Equation Technologies (into Pine Services Group) (2025-09-03): A Sage partner with American and Canadian offices, bought by the ERP vertical; ERP, not managed services. Source: https://www.evergreensg.com/evergreens-pine-services-group-welcomes-equation-technologies-to-its-erp-portfolio/
- LAN Solutions Corp., Corporate Networks and The ITeam (2025-09-03): Three Alberta managed service providers bought in one release, more than eighty technicians between them; not American. Source: https://www.evergreensg.com/evergreen-welcomes-leading-canadian-msps-amid-historic-sector-growth/
- Next7 IT (2025-08-21): A twenty-six person Pittsburgh area managed service provider serving small businesses. Source: https://www.evergreensg.com/evergreen-expands-by-acquiring-next7-it-a-growing-msp-serving-the-needs-of-small-businesses/
- Spector (2025-07-31): A Dublin managed service provider with a twenty-three year record, the firm's entry into Ireland; not American. Source: https://www.evergreensg.com/evergreen-expands-into-ireland-with-acquisition-of-it-services-provider-spector/
- ImageQuest (2025-07-24): A Nashville managed IT, cybersecurity and compliance provider joining Lyra, its founder staying on as chief executive. Source: https://www.evergreensg.com/evergreen-increases-investment-in-cybersecurity-and-regulated-it-services-with-acquisition-of-imagequest-a-leading-nashville-msp-and-mssp/
- REDD (2025-06-10): A Brisbane managed service provider founded in 2016, announced as the firm's hundredth IT services acquisition. Source: https://www.evergreensg.com/evergreen-celebrates-100th-msp-acquisition-as-it-expands-its-presence-across-global-markets/

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Last checked: 2026-09-10

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