Marking its first managed service provider (MSP) deal in the Australia/New Zealand geography, private equity firm Evergreen has acquired Lancom Technology, an Auckland, New Zealand-based MSP that also has a presence in Australia.
This is deal number 17 that ChannelE2E and its affiliate site MSSP Alert have covered so far in 2024.
Evergreen, which uses the tagline “A Permanent Home for Your Business and Leaders,” has successfully acquired 70 MSP and software companies. The San Francisco-based PE firm prides itself on its “proven track record of amplifying organizations in the MSP space while still preserving its legacy and investing in its continued success.”
Evergreen, Lancom Deal: More about Lancom
Lancom Technology has between 51 and 200 employees listed on LinkedIn. The company specializes in software development, cloud services, managed services, and business process automation. Lancom is an Advanced AWS Consulting Partner and Microsoft Solutions Partner.
The companies said that this deal unlocks potential for both organizations, giving Evergreen its first expansion into Australia/New Zealand while providing Lancom with resources to expand its business as well as the opportunity to capitalize on Evergreen’s international network and resources.
What Evergreen, Lancom Leaders Say about the Deal
"It was apparent from the get-go that this acquisition would act as a catalyst, not just facilitating mutual growth, but also fostering shared values and a forward-thinking approach to innovation," said Ramsey Sahyoun, head of M&A at Evergreen. "Evergreen's strategic vision aligns seamlessly with Lancom's existing commitment to technological innovation."
Waruna Kirimetiyawa, CEO at Lancom Technology, said that Evergreen’s commitment and reputation for preserving the businesses it acquires played a role in their decision to sell.
"For over three decades Lancom has been cultivating and nurturing our talent and what appealed to us most about this acquisition was Evergreen's commitment to preserving our team's expertise rather than replacing it," Kirimetiyawa said. "Because of Evergreen's ability to offer continuity within our organization, it only took us three weeks to decide that they were the right partner for us."
Evergreen’s International Expansion
The Lancom deal marks Evergreen’s second geographic expansion in four months. In September, Evergreen and London-based The Final Step announced that Evergreen had acquired that MSP, marking Evergreen’s first deal in the UK market. The Final Step is a longtime successful MSP and its founder, Raja Pagadala, brought the HTG Peer Groups (now known as the IT Nation Evolve peer groups) to the UK.
Evergreen’s first international expansion deal was one in Canada. The PE firm acquired of Starport Managed Services, a Toronto-based MSP in 2021. Starport had 31 employees at the time of acquisition, and now has between 51 and 200 employees, according to LinkedIn.