These are M&A deals number 56 and number 57 that ChannelE2E has covered so far in 2021. See all technology M&A deals for 2021 and 2020 listed here.
Evergreen, backed by Alpine Investors, is made up of a group of managed IT services providers. The group has made a number of investments in recent years. Earlier deals involved Wolf Consulting, Executech, Jenlor, Interlaced, and Integritek among others. The deals typically allow MSPs to maintain their existing leadership teams and continue running their businesses independently. Evergreen’s additional financial muscle typically assists with talent, technology and other types of investments.
Both of the acquired organizations will be rolled into the platform company NetGain Technologies, in which Evergreen invested in December 2018. NetGain is one of the largest managed IT services providers in the midwestern and southeastern United States. Acquiring Arnet and LK TECH will expand NetGain’s presence in the Ohio market, the company said.
Evergreen Acquisitions: A High-Quality Service Model
Ramsey Sahyoun, Evergreen’s head of M&A, said:
“Both Arnet and LK TECH are leading MSPs run by great leaders who care deeply about employees and customers being well taken care of post-acquisition. We’re honored by the trust they’ve placed in us to be a permanent home for their companies.”
Tim Burke, CEO of NetGain Technologies, added:
"We are very excited to welcome both of these incredible organizations into the NetGain family. Each organization has amazing talent and a high-quality service model that clients have trusted for years. Collaborating will move us closer to achieving our goal to provide premier managed IT services to small and medium organizations across the region.”
Evergreen Acquisitions: Company Backgrounds
Employees of both Arnet Technologies and LK TECH will join the NetGain team, and clients won’t see a disruption in their service or support, the companies assured customers.
Arnet Technologies, founded in 2008, provides enterprise-level managed IT services, cloud computing and IT support to small and medium businesses in Columbus, Ohio.
LK TECH, established in 1999, provides IT services and solutions to entrepreneurs and small and midmarket businesses, governmental entities and non-profit organizations in the greater Cincinnati, Ohio area.
Al Fahimi, CEO of Arnet Technologies, commented:
“It was extremely important to partner with an organization that fits our vision and culture, and brings added value to our employees and clients. By joining the NetGain team, we have access to expanded resources, services, and partnerships that will foster our continued growth in the Columbus area.”
Chris Lane, president and CEO of LK TECH, said:
“We are delighted to join the NetGain family. Our team gains a lot of great resources, and our clients can expect the same great services provided by the same great team. Plus we can collectively provide the best IT services to the businesses in the Cincinnati market and surrounding counties.”
The newly acquired organizations will benefit from the resources and investments in marketing, sales, human resources and finance that Evergreen provides, the group said.
Evergreen Services Group, along with NetGain Technologies, will continue to pursue acquisition opportunities, the companies said.