Evergreen Acquires Solution Systems, Inc.

Evergreen, a family of managed IT services and software companies, has acquired Microsoft partner Solution Systems, Inc. (SSI). Financial terms of the deal were not disclosed.

SSI will join Evergreen's ERP branch, Pine Services Group, to further scale Pine's position in the Microsoft Dynamics channel, the companies said. SSI, a Microsoft Gold Partner, will continue to operate independently under Evergreen's 'forever hold' model while benefiting from access to a wider array of resources, the company said. SSI was the first to implement Dynamics 365 Business Central globally.

This is technology M&A deal number 125 that ChannelE2E and sister brand MSSP Alert have covered so far in 2024. See more than 2,000 technology M&A deals for 2024, 2023, 2022, 2021, and 2020 listed here.

Founded in 2017, Evergreen is based in San Francisco, California. The company has 103 employees listed on LinkedIn. Evergreen is a holding company that acquires and operates a portfolio of companies – many of whom work in the managed services sector. In recent months, the firm has made global expansions, buying firms in both Australia and the United Kingdom. The firm has completed over 80 IT services acquisitions.

Solution Systems, Inc., founded in 1979, is based in Rolling Meadows, Illinois. The company has 35 employees listed on LinkedIn. SSI’s areas of expertise include Microsoft Dynamics NAV, IT infrastructure, implementation, training, support, database and website development, Microsoft Dynamics 365, Microsoft Dynamics CRM, Microsoft Office, sales, Power BI, Dynamics 365 Business Central, Microsoft software, manufacturing software, NAV & Business Central upgrades, NAV & Business Central support, Microsoft Teams, and Microsoft 365.

Evergreen currently supports over 85 software and services companies and invests in IT service providers, ERP partners, financial software, and government services businesses.

Evergreen is notable for the fact that it doesn’t sell the companies it acquires. Instead, it opts for a long-term approach to sustainable growth and investment.

Executive Perspectives on the Acquisition

Katie Maley, M&A lead for Pine Services Group, commented:

"It has been a pleasure getting to know David and Stu throughout this process. It was immediately clear David and Stu built a special company, with exceptional talent and a unique employee culture. Solution Systems was a clear fit to join our ERP portfolio, and we're proud to be partnering with CEO, Ken Sebahar, and his team for the next chapter."

Jana Schmidt, CEO at Pine Services Group, said:

"Solution Systems was a natural complement to our existing portfolio. Their level of expertise into the Microsoft Dynamics Channel and impressive employee roster is a meaningful asset, and we look forward to supporting their continued growth."

David and Stu Zirin, presidents and founders of Solution Systems, stated:

"After starting and growing SSI some 45 years ago, we thought it might be time for retirement, but making the transition was a little scary. We wanted to keep the legacy of what we, along with our family of employees, have built. After doing our due diligence, we decided on Evergreen. They promised to continue to run our business as it had been run and to keep in place the infrastructure we developed over the years. We felt comfortable that our employees and customers would be treated the same way we have for over four decades. Leaving is bittersweet, but we know we made the right decision with Evergreen."