A serial MSP acquirer with a “forever-hold” investment model has filed maiden UK accounts showing revenues of over £15m.
Operating in North America, the UK, Australia and Ireland, Evergreen Services Group last June announced its 100th acquisition.
The US-based “family of managed IT services and software partners”, claims to mark itself out through its decentralised operating model, and says it offers a “permanent home” for businesses.
Evergreen’s UK subsidiary, ‘UK MSP Holdco’, turned over £15.5m in the 16-month period ending 31 December 2024, accounts filed last week reveal.
It made its first UK acquisition on 31 August 2023 in the shape of The Final Step.
Other UK MSP conquests made during the period include Digital Origin, CMS Group, Certum, Computing Information Systems and IT Builder.
All the above MSPs operate under the ‘Lyra Technology’ brand.
Evergreen towards the end of 2025 snapped up two UK outfits (Eureka Solutions and Inixion) under the ‘Pine Services Group’ banner, which plays in the ERP software space (making it one of 2025’s most acquisitive MSPs by our calculations).
Evergreen founders Jeff Totten and Ramsey Sahyoun were inspired to start a “highly decentralised, permanent holding company” after attending Warren Buffet’s annual meeting in 2017.
The company believes in “extreme decentralisation”, meaning it has hundreds of separate offices and brands, empowers CEOs who manage their own P&Ls and a razor-thin corporate team.
