Evergreen Services Group
- Company typePrivate
- Founded2017
- HeadquartersSan Francisco, United States
- Headcount1,001–5,000
- GTM typeB2B
- OfferingServices
Evergreen Services Group firmographics
Firmographics- 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
Evergreen Services Group industry classification
Industry- 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
Where Evergreen Services Group is headquartered
LocationHeadquarters
- HQ city
- San Francisco
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Evergreen Services Group business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Others
Revenue model
- 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
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Acquisition investment thresholds |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels5 records
Evergreen Services Group product offering
Product offeringCore 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
Companies that use Evergreen Services Group
Customer profileNamed customers4 records
Segments3 records
Ideal customer profiles1 record
Evergreen Services Group technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability4 records
Evergreen Services Group partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered strategic and core.
- AnthropicstrategicStrategic 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 GroupcoreOne 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 GroupcoreEvergreen's platform focused on ERP consulting and implementation partners, specializing in mid-market businesses and solutions including MYOB Acumatica, Microsoft, and Epicor.
- Cedar Solutions GroupcoreEvergreen'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
Evergreen Services Group competitors and assessment
Company assessmentBroad 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
Evergreen Services Group social profiles
Digital presenceEvergreen Services Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
Evergreen Services Group leadership team
Management profileNumber of profiles
Profiles14 records
Evergreen Services Group subsidiaries and ownership
Company hierarchySubsidiaries14 records
Evergreen Services Group funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Evergreen Services Group M&A and investment
M&A and investmentM&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
What does Evergreen Services Group do?
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.
Is Evergreen Services Group a public or private company?
Evergreen Services Group is a private company. It is classified as private equity controlled and is currently operating.
When was Evergreen Services Group founded?
Evergreen Services Group was founded in 2017. It employs 1,001 to 5,000 people.
Where is Evergreen Services Group based?
Evergreen Services Group is headquartered in San Francisco, United States, in the North America region.
How does Evergreen Services Group make money?
One revenue line is on record: portfolio Company Operations.
Who are Evergreen Services Group's main competitors?
Broad incumbents on record are Vista Equity Partners and Thoma Bravo. Direct peers are Kaseya, Constellation Software, HEICO Corporation, TransDigm Group and Roper Technologies. Converge Technology Solutions is listed as an emerging player. Others are Alpine Investors and ConnectWise.
Does Evergreen Services Group have an API?
No public API is recorded for Evergreen Services Group.
What industry is Evergreen Services Group in?
Evergreen Services Group's product category is IT Services Holding Company (MSP, ERP, and Government IT Acquisitions). Its primary akta.pro industry code is FSANAGAM, Evergreen / Open-Ended Multi-Manager Platforms. Its NAICS code is 56143 and its SIC code is 8741.