Executech, backed by Evergreen Services Group, has acquired HiTechnique, a Spokane, Washington-based IT services provider. The deal extends Executech's reach across Eastern Washington and Northern Idaho. Exact headcount figures and financial terms were not disclosed.
HiTechnique Founder and CEO Dan Shuler along with his staff will join Executech. “HiTechnique had shown an ability to consistently grow MRR in the Spokane market through an intense focus on their existing customers and we had a high degree of trust in Dan and Cathy Shuler who owned the business,” Ramsey Sahyoun, head of M&A at Evergreen Services Group, tells ChannelE2E.
This is the latest in a growing list of MSP-oriented deals backed by Evergreen Services Group. Evergreen has been acquiring MSPs across the United States as part of a multi-year expansion plan. Each deal typically leaves existing management teams and local IT services strategies in place, rather than making wholesale leadership, IT platform and services changes.
Executech's revenues were $13.5 million in 2016, representing a 176 percent compound annual growth rate (CAGR) over a three-year period, according to Inc. 5000 survey results at the time.