What Lyra Technology Group does

Lyra Technology Group is a private managed IT services platform and the flagship operating company of Evergreen Services Group, a portfolio of managed IT and software companies backed by private equity firm Alpine Investors. The company operates a rollup model, acquiring independent Managed Service Providers (MSPs) and Managed Security Service Providers (MSSPs) and retaining their brand identity, local culture, and operational independence while providing capital, strategic support, and shared resources. By mid-2025, Lyra had reached $1 billion in annual recurring revenue and completed its 100th cumulative MSP acquisition, establishing itself as the largest pure-play MSP consolidator under the Evergreen platform (which also includes Pine Services Group and Cedar Solutions Group).

Lyra's service offering spans managed IT support, cybersecurity, and compliance-focused IT services delivered through its portfolio of acquired MSPs. Notable subsidiaries include DKBinnovative (Texas, cybersecurity and IT services, acquired June 2024), ImageQuest (Nashville, MSSP serving regulated industries such as healthcare, finance, and legal, acquired July 2025), Blackbird IT (South Australia, managed IT services, acquired October 2025), and Optimising IT (Gloucestershire, IT support, merged October 2025), as well as REDD Digital Services (acquired June 2025). The company generates recurring revenue through long-term managed services contracts priced on a custom/quote basis, with end customers ranging from SMBs to mid-market businesses and selective enterprise clients in regulated verticals. Geographic operations now span North America, the United Kingdom, and Australia/New Zealand, with 47 acquisitions completed in 2025 alone (roughly two-thirds undisclosed to industry trackers) and a parent-level revenue target of $5 billion by 2030.

Name

Lyra Technology Group

Website

https://lyratechgroup.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

251–500 employees

Short description

Lyra Technology Group is the flagship MSP rollup of Evergreen Services Group, acquiring and retaining independent managed IT and cybersecurity providers to deliver recurring managed services to SMB, mid-market, and regulated-industry clients across the US, UK, and ANZ.

Ownership category

akta.pro rank

Product category

Managed IT Services

NAICS

Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (5182), Computer Systems Design and Related Services (54151), Custom Computer Programming Services (541511)

SIC

Services-Computer Programming, Data Processing, Etc. (7370), Services-Management Services (8741)

akta.pro primary industry

ITSM Managed Services (Run/Operate/Optimize) (BPAEAJAN)

akta.pro secondary industries

Cloud Managed Services (M365/Azure/AWS/GCP) (BPAEABAE), Network Management (LAN/WAN/Wi‑Fi) Services (BPAEABAD), Service Catalog, Request Fulfillment & Self-Service Portals (BPAEAJAI)

Keywords

• Managed IT services
• Cybersecurity solutions
• IT infrastructure support
• MSP consolidation
• Cloud managed services

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Managed IT Services Revenue: Lyra generates recurring revenue through managed IT services provided to business customers across its portfolio of acquired MSPs. The model involves long-term contractual relationships with clients, providing ongoing IT support, cybersecurity, and technology management services. Revenue is recurring in nature as clients pay for continuous managed services.
2. Acquisition-Driven Growth: Lyra grows primarily through acquisitions of MSPs. Each acquisition brings new customer bases, technical talent, and revenue streams. The company provides resources and long-term investment approach to support acquired companies' growth while maintaining their independence and culture.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels1 record

Core offering

Lyra Technology Group is a managed IT services platform that acquires and operates independent Managed Service Providers (MSPs) under Evergreen Services Group. The company delivers managed IT, cybersecurity, and IT infrastructure support to small and mid-sized businesses, while providing acquired MSPs with capital, strategic resources, and operational best practices. Its portfolio includes DKBinnovative (Texas), ImageQuest (Nashville MSSP), Blackbird IT (South Australia), Optimising IT (UK), and over 95 other MSP brands.

Product overview

Lyra Technology Group operates as a managed IT services platform under Evergreen Services Group, acquiring and integrating independent MSP (Managed Service Provider) companies. The company does not offer a unified product or platform in the traditional SaaS sense; rather, it maintains a portfolio of acquired MSP brands including DKBinnovative (cybersecurity and IT services), Blackbird IT (managed IT services in South Australia), Optimising IT (IT support in Gloucestershire), and ImageQuest (MSSP in Nashville). Each acquired company continues to operate with operational independence while leveraging Lyra's resources for scaling and growth. The offering is a holding/rollup model focused on the MSP ecosystem rather than a distinct product suite.

Differentiator

Problem solved

Functional benefit

Products and services

• Managed IT Services (DKBinnovative)
• Regulated IT & Cybersecurity Services (ImageQuest)
• Managed IT Services (Blackbird IT)
• IT Support Services (Optimising IT) IT support services for businesses in Gloucestershire, UK, providing long-term growth support and enhanced technological capabilities. Operated through Optimising IT, which merged with Lyra in October 2025.
• Cybersecurity Solutions (SonicWall Partner Channel) Deployment and resale of SonicWall cybersecurity solutions to end customers through Lyra's portfolio of MSPs. Lyra was named SonicWall's 2026 North American Partner of the Year for excellence in cybersecurity revenue, growth, and customer security impact.

Quantifiable outcome

• Reached $1 billion in annual recurring revenue by mid-2025
• +1 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

One partnership is on record.

• SonicWallmajorTechnology or Integration · 4 February 2026SonicWall is a cybersecurity solutions provider that named Lyra Technology Group as its 2026 North American Partner of the Year. The partnership involves Lyra reselling and deploying SonicWall's cybersecurity solutions to customers, with recognition for excellence in revenue, growth, and customer security impact.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Ntiva: Mid-market-focused managed IT services and cybersecurity provider with a similar acquisition growth strategy. Comparable in service portfolio and SMB/mid-market customer orientation.
• Greenlight Group: Rollup-style managed IT and cloud services platform focused on mid-market customers. Comparable in service mix, recurring revenue model, and consolidator positioning.
• ITsavvy: Managed IT services and solutions provider serving SMB and mid-market clients across the US. Comparable customer segments and managed services delivery model.
• Dataprise: PE-backed managed services provider offering IT support, cybersecurity, and cloud services to mid-market and enterprise clients. Closely comparable operating model and customer profile.
• Thrive: PE-backed managed IT services and cybersecurity rollup with a similar acquisition-driven growth model. Directly comparable in business model, target customer (mid-market), and recurring services revenue mix.

Broad incumbents

• Trustwave: Global cybersecurity and managed security services provider. Comparable MSSP capabilities to Lyra's ImageQuest acquisition, but as part of a larger portfolio.
• ConvergeOne: Large IT solutions and managed services provider focused on enterprise customers. Comparable in managed services and cybersecurity offerings but operating at a broader scale.
• Secureworks: Established MSSP offering managed detection, response, and cybersecurity services. Comparable in regulated-industry cybersecurity positioning and managed security delivery.
• Presidio: Large, established IT services and solutions provider with managed services, cloud, and cybersecurity capabilities. Broader portfolio than Lyra but overlapping mid-market and enterprise managed services.
• Kyndryl: Global managed infrastructure services provider spun out of IBM, serving large enterprise customers. Overlapping ITSM and managed services capabilities but at a far larger scale and different customer tier.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/lyra-technology-group-evergreen

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries4 records

Funding overview

Funding rounds

Investors

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

M&A4 records

Investments

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

Frequently asked questions about Lyra Technology Group