MSP Investment: Evergreen Services Group Backs Global Tech Solutions
Evergreen Services Group has invested in Global Tech Solutions, LLC, an IT services provider. Financial terms of the investment were not disclosed.
This is technology M&A deal number 201 that ChannelE2E has covered so far in 2022. See more than 1,000 technology M&A deals for 2022, 2021 and 2020 listed here.
Global Tech will continue to operate independently under its existing leadership team, Evergreen indicated.
Headquartered in Brooklyn, New York, Global Tech provides IT design, implementation, support and maintenance for businesses in multiple industries throughout the United States. The investment will allow Global Tech’s management team to expand its customer base while concentrating on client satisfaction, according to the company.
Evergreen’s Global Tech Investment: Leadership Insight
Elliott Hyman serves as Evergreen’s board representative for Global Tech. He commented:
“Abe Brown has built an incredible business in Global Tech, by working relentlessly to serve clients. We look forward to supporting Global Tech’s continued growth and commitment to its customers and team. We have enjoyed working with Abe since our first interaction and admire his deep commitment to the community, employees, and clients he serves.”
Abe Brown, founder and CEO, Global Tech, said:
“I have been approached by many potential investors over the years and it became clear that Evergreen had a unique strategy that was a perfect fit for Global Tech. Evergreen’s approach of investing in companies for the long-term and allowing them to operate independently gives us confidence that our brand, customers, and employees will have a much larger opportunity with this partnership. The entire Global Tech team has worked hard to build a world-class IT services company. Evergreen’s investment confirms our standing as one of the most successful IT service providers in the country. It is extremely gratifying to achieve this new milestone which will fuel the company’s expansion strategy.”
About Evergreen Services Group
Evergreen continues to actively invest in leading managed services providers throughout the United States and Canada through its regional businesses groups. The MSP groupings include:
- Executech in the Western United States and Canada;
- Lyra Technology Group in the Northeast and Midwest United States and Eastern Canada; and
- Netgain in the Midwestern and Southeastern United States.
Evergreen, backed by private equity firm Alpine Investors, has completed nearly 50 investments in MSPs across North America since its founding in 2017. Extending beyond traditional MSPs in the SMB sector, Evergreen has also acquired MSPs focused on managed security services, managed SAP cloud applications and financial services, among other areas of expertise.
In 2021, Alpine Investors raised $2.25 billion, a portion of which has been earmarked for more MSP investments and acquisitions by Evergreen, ChannelE2E confirmed at the time of the report.