Cyber Solutions, founded in 1999, started as a break-fix operation then pivoted to custom-developed managed services and support in 2011, the seller indicated. The Cyber Solutions team — spanning 32 employees — will join NetGain.
In a prepared statement about the Cyber Solutions deal, NetGain Technologies CEO Tim Burke said:
“We welcome Cyber Solutions and the South Carolina community into the NetGain family. What attracted us to the business was the team’s focus on providing excellent service to their clients. Over the last 10 years, the business has demonstrated a real track record of innovating to keep pace with the market and maintaining strong, longstanding client relationships. It’s no surprise they’ve been able to continue growing in the markets they serve.
In addition to the business’s focus on client service, Eric Gurley (Cyber Solutions founder) is an incredible leader and has been a great partner. We are really excited to share best practices with Cyber Solutions and allow them to continue delivering quality service to their clients.”
“When initially introduced to NetGain, I had never considered partnering with a larger organization. I was immediately impressed with their team, and I quickly realized that NetGain works hard to maintain a ‘family’ culture and places great emphasis on caring for employees. This along with their decentralized business model made the partnership an obvious path forward for me and Cyber Solutions. NetGain’s decentralized approach allows me to continue providing the experience that my customers have come to expect while having the resources of a much larger organization behind us.”
Evergreen Services Group: MSP Investment and Acquisition Strategy
NetGain’s parent — Evergreen Services Group — has made roughly 50 MSP acquisitions and investments since 2018. Evergreen’s strategy has organized various MSP investments into regional business groups. They include:
Executech in the Western United States and Canada;
NetGain in the Midwestern and Southeastern United States.
Instead of “flipping” the acquired businesses to turn a quick profit, Evergreen Services Group invests, holds and builds value for the long term. Evergreen now owns multiple “platform” MSPs — which are regional (or national) IT service providers that are large enough to absorb tuck-in MSP, MSSP and IT consulting acquisitions.
Evergreen Services Group continues to educate the MSP market about M&A activity. The company’s MSP Valuations website, for instance, allows MSPs to measure their potential company valuation based on such variables as revenue, growth rate, EBITDA, capital expenditures, customer retention and customer concentration.
Alpine Investors: Funding Evergreen’s MSP Investments and Acquisitions
It’s a safe bet Evergreen Services Group will make more MSP investments and acquisitions.