This is technology M&A deal number 15 that ChannelE2E has covered so far in 2022. See all technology M&A deals for 2022 and 2021 listed here.
Based in Vancouver, British Columbia, Dyrand is an IT support provider with 20 years of experience. The company’s managing directors Ed Anderson and Nicholas Drayer, as well as the rest of the team at Dyrand, will remain in their current roles, the seller said. Dyrand will continue to operate as a stand-alone entity under its current brand as a Canadian incorporation, Executech announced.
This is the second Canadian company that Executech has acquired in the last 12 months. In August 2021, the company acquired another Vancouver-based company, Nucleus.
Executech Acquires Dyrand: A People-First Approach
DJ Dorff, CEO, Executech, commented:
“We are excited to welcome the Dyrand team into the Executech family. The team at Dyrand has built a great model of proactive and friendly IT support. Their core values align and complement Executech’s. We look forward to helping Ed and his team flourish in the Canadian market.”
Ed Anderson, managing director, Dyrand Systems, said:
“We are thrilled to join the Executech group and collaborate with their team. Executech’s people-first approach perfectly aligned with how we seek to help our clients. Through this affiliation, we can provide more robust cybersecurity tools and services to our clients.”
Executech's Previous MSP Acquisitions
Salt Lake City, Utah-based Executech is backed by Evergreen Services Group. The company continues to pursue acquisition opportunities with companies that emphasize a culture of client success and employee development, according to the company.
Past deals include:
- Max Technology, an IT services provider in Carbon County, Utah.
- Pact-One, a vertical market IT service provider focused on the dental practice industry from Las Vegas, Nevada.
- DSA Technologies, a California-based full-service IT provider. Financial terms were not disclosed.
- Seattle, Washington’s Z7 Networks
- Spokane, Washington’s HiTechnique.
About Alpine Investors and Evergreen Services Group
Executech has been backed by Evergreen Services Group since around January 2018. Evergreen Services Group has built a $200 million+ revenue business through 35 MSP acquisitions, the firm tells ChannelE2E.
Evergreen was funded by Alpine Investors, a private equity firm. It's a safe bet Evergreen Services Group will remain in MSP acquisition mode. The evidence: Alpine Investors has raised $2.25 billion, and a portion of that money has been earmarked for more MSP investments and acquisitions, ChannelE2E confirmed in October 2021.
Dig into the new Alpine Investors Fund VIII, and you’ll notice that it includes the formation of Evergreen II -- which essentially is a financial war chest for Everygreen Services Group.