Evergreen Services Group

Name

Evergreen Services Group

Legal name

Evergreen Services Group

Website

https://evergreensg.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

1,001–5,000 employees

Ownership category

akta.pro rank

Product category

IT Services Holding Company (MSP, ERP, and Government IT Acquisitions)

NAICS

Business Service Centers (56143)

SIC

Services-Management Services (8741), Services-Management Consulting Services (8742)

akta.pro primary industry

Evergreen / Open-Ended Multi-Manager Platforms (FSANAGAM)

Keywords

• IT services acquisitions
• Managed service providers
• ERP consulting partners
• Government IT services
• Permanent business ownership

Headquarters

HQ city

San Francisco

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Portfolio Company Operations: Evergreen generates revenue through owning and operating acquired technology services companies across three platforms: managed IT services (Lyra), ERP software partners (Pine), and Government IT services (Cedar). The company takes a permanent ownership approach, holding acquired businesses indefinitely and empowering management teams to drive growth.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Evergreen Services Group is a private holding company that acquires and permanently operates technology services businesses across three platform groups: Lyra Technology Group (managed IT service providers), Pine Services Group (ERP software partners), and Cedar Solutions Group (Government IT). The firm purchases qualifying IT services companies with $3M+ revenue and $500K+ EBITDA, funds acquisitions with committed capital from Alpine Investors, and runs acquired firms independently under a decentralized model while providing capital, talent networks, and shared best practices.

Product overview

Evergreen Services Group is a private equity-style holding company that operates as a permanent home for technology services businesses through a decentralized operating model. The company is organized into three main platform groups (Groves): Lyra Technology Group (Managed Service Providers/MSPs), Pine Services Group (ERP Software Partners), and Cedar Solutions Group (Government IT Services). These operating groups acquire and support technology services companies—currently over 85+ software and services companies—allowing them to retain their brand, employees, and culture while benefiting from shared best practices, talent networks, and growth resources. The company also offers the Evergreen Executive Program for placing top talent in leadership roles and hosts the Elevate conference for MSP education.

Differentiator

Problem solved

Functional benefit

Brands

• Lyra Technology Group: Managed IT Services platform - a community of MSPs scaling through shared best practices, talent networks, and Evergreen's growth playbook. Reached $1 billion in annual recurring revenue by mid-2025.
• Pine Services Group
• Cedar Solutions Group
• Lyra Cloud Services

Products and services

• Lyra Technology Group Community of Managed Service Providers (MSPs) scaling through Evergreen's shared best practices, talent networks, and growth playbook. Operates independently with empowered CEOs running their own P&Ls; reached $1 billion in annual recurring revenue by mid-2025 and completed its 100th MSP acquisition.
• Pine Services Group Specialized ERP consulting and implementation firms growing within a focused vertical community. Provides ERP software partners with resources for expansion while maintaining independence; covers solutions including MYOB Acumatica, Microsoft, and Epicor.
• Cedar Solutions Group Technology services businesses built for government clients, united by compliance expertise and mission focus. Serves federal, state, and local government IT markets with specialized expertise.
• Lyra Cloud Services AWS-focused cloud services platform providing practical AWS expertise and operational support, combining infrastructure expertise with access to leading AI models through a strategic partnership with Anthropic for Claude via Amazon Bedrock.
• Evergreen Executive Program (EXP) A leadership-development program for high-performing MBA graduates who step into high-impact operating roles within Evergreen's portfolio companies, gaining hands-on operating experience while driving growth initiatives through executive mentorship.
• Elevate Conference The MSP industry's sponsor-free annual conference focused exclusively on maximizing enterprise value, providing tactical education on financial levers, operational excellence, and growth strategies for MSP operators; events held in Austin, London, and Melbourne.
• MSP Valuations A free and simple valuation tool for MSP owners to estimate what their company is worth, developed by Evergreen to help business owners understand their company's value before selling.

Quantifiable outcome

• Seller NPS of 93 across completed acquisitions
• +2 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability4 records

Partnerships

Four partnerships are on record, tiered strategic and core.

• AnthropicstrategicTechnology or Integration · 18 June 2026Strategic partnership through Evergreen's Lyra Cloud Services to expand customer access to Claude through Amazon Bedrock. The partnership helps organizations adopt and operationalize AI within secure, well-architected cloud environments.
• Lyra Technology GroupcoreOthersOne of Evergreen's three platform companies, Lyra Technology Group operates a family of managed IT services businesses. By mid-2025, Lyra reached $1B ARR and completed its 100th MSP acquisition.
• Pine Services GroupcoreOthersEvergreen's platform focused on ERP consulting and implementation partners, specializing in mid-market businesses and solutions including MYOB Acumatica, Microsoft, and Epicor.
• Cedar Solutions GroupcoreOthersEvergreen's Government IT services platform focused on serving federal, state, and local government clients with technology services, united by compliance expertise and mission focus.

Scale indicators7 records

Recent moves12 records

Expansion highlights6 records

Broad incumbents

• Vista Equity Partners: Vista Equity Partners is a major software-focused private equity firm with a portfolio model that overlaps Evergreen's approach to acquiring and operating technology services and software businesses. It competes for tech services and ERP-related assets.
• Thoma Bravo: Thoma Bravo is one of the largest software- and tech-focused private equity firms, with a take-private and rollup playbook overlapping Evergreen's strategy at the larger end. It represents the broader incumbent PE competition for tech services targets.

Direct peers

• Kaseya: Kaseya is the largest PE-backed (Insight Partners) MSP software and rollup platform, providing technology and consolidating MSPs globally. It directly competes with Evergreen's Lyra Technology Group for MSP acquisitions and end-market share, making it the most relevant MSP-specific direct competitor.
• Constellation Software: Constellation Software is the canonical public-market compounder that acquires and permanently holds vertical-market software businesses under a decentralized operating model (Volaris, Harris, etc.). It shares Evergreen's 'buy and hold forever' philosophy and is widely cited as the inspiration for the Evergreen thesis.
• HEICO Corporation: HEICO acquires niche technology businesses (primarily aerospace and electronic technologies) and operates them with high autonomy under permanent capital. Its decentralized acquisition model and long-hold philosophy are structurally similar to Evergreen's approach across tech services.
• TransDigm Group: TransDigm is a publicly traded compounder that acquires sole-source aerospace components businesses and runs them with extreme operational decentralization and minimal corporate overhead. Evergreen advisor Patrick Murphy is TransDigm's former Co-COO, evidencing direct influence on Evergreen's decentralized playbook.
• Roper Technologies: Roper Technologies is a publicly traded compounder that acquires niche software and engineered products businesses and operates them with extreme decentralization under permanent capital. Its capital-allocation discipline and dividend-driven shareholder return model closely mirror Evergreen's intended trajectory.

Emerging players

• Converge Technology Solutions: Converge Technology Solutions is a publicly traded North American IT services rollup that acquires and integrates solution providers across cloud, cybersecurity, and managed services. It is smaller in scale than Evergreen but follows the same buy-and-integrate playbook in adjacent verticals.

Others

• Alpine Investors: Alpine Investors is Evergreen's primary sponsor and capital provider since 2017, and also operates its own PeopleFirst operating model across similar services-focused investments. It is directly comparable as Evergreen's parent and a sibling operator of the same playbook.
• ConnectWise: ConnectWise is a leading MSP software platform (PSA, RMM, cybersecurity) that powers many of the MSPs Evergreen acquires. Evergreen advisor Craig Fulton is a former ConnectWise executive. ConnectWise is an ecosystem enabler rather than a direct competitor, but its trajectory shapes the economics of Evergreen's portfolio.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@HoldForeverEG
• LinkedInlinkedin.com/company/evergreen-services-group

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries14 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A36 records

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Evergreen Services Group