Channel investors, MSP, Content, Private equity

Helix Technology Partners Debuts as New Parent Company for 14 MSPs

Jigsaw puzzle with copy space.

Helix Technology Partners is launching as the new parent company of 14 managed service providers backed by private equity firm Evergreen Services Group. The Helix name represents a rebranding and a change in structure for how Evergreen Services Group manages its MSP acquisitions.

Previously new acquisitions were folded under the name NetGain Technologies, Evergreen’s first acquisition in the region. Now NetGain Technologies will be one of 14 MSPs under the Helix Technology Partners brand. Under the new structure, Helix will be responsible for all acquisition strategy, shared services, and portfolio value creation. NetGain Technologies will focus on growing its IT and cybersecurity business.

As a result of the new structure, Helix will serve as Evergreen’s public-facing platform company, and NetGain Technologies will become a Helix subsidiary. A local CEO will run each Helix company and report to Helix CEO Tim Burke.

 

Executive Changes for Helix, NetGain

Helix CEO Tim Burke Helix CEO Tim Burke

Several NetGain Technologies executives are moving over to Helix to lead the new company. Here is a run down of the executive changes at both companies:

  • Tim Burke will serve as CEO of Helix, moving from his previous role as CEO of NetGain Technologies.
  • Kelsey Randhawa, will serve as president of Helix. She is the former chief of staff at NetGain Technologies.
  • Dwight Sawin will serve as CFO of Helix. He was formerly vice president of finance at Netgain Technologies.
  • Jessica Zang joins Helix as chief operating officer.
  • Hank Dallam will succeed Burke as CEO of NetGain Technologies.

Helix CEO Tim Burke had this to say about the changes:

“We’re excited to announce the launch of Helix. Our passion is to accelerate the growth of great businesses. Our new structure facilitates this mission by giving us improved focus, accountability, and scalability. We look forward to even greater collaboration across our companies in service of our employees and clients.”

A Decentralized Acquisition Strategy

Helix President Kelsey Randhawa

Randhawa told ChannelE2E that the launch of Helix accelerates the decentralized acquisition strategy initiated under the NetGain Technologies brand in 2019. Under this model, the acquired businesses operate independently and retain their employees, branding, and operations after the acquisition, an approach that many business owners prefer.  But now these business owners have access to shared services and greater support, which has yielded consistent growth in sales, profit, and the employee base.

Now that Helix has launched, NetGain Technologies can get back to its MSP business, doubling down on client satisfaction, expanding its client reach, and investing in sales and marketing strategies.

NetGain Technologies's History

NetGain Technologies was founded in 1984 and operates six branches in five states -- Lexington, Kentucky; Louisville, Kentucky; Cincinnati, Ohio; Chattanooga, Tennessee; Little Rock, Arkansas; and St. Louis, Missouri. It’s one of the largest regional Service Organizational Control (SOC) 2 Type II Certified technology and cybersecurity providers.

Evergreen Services Group, an investment group, acquired NetGain Technologies in 2018. Since then, NetGain Technologies has served as Evergreen’s hub for its managed service provider investments in the Midwestern and Southeastern United States. Since Evergreen’s initial investment, NetGain Technologies has acquired 13 businesses spanning 11 states and 20 cities. Its employee base has also grown from 125 to over 700 people.

Helix CEO Burke said:

“There are inherent scaling limitations to running a portfolio of companies while also growing a services business. Local clients, employees and opportunities compete with global company priorities. This change will enable us to better serve our missions at Helix and NetGain Technologies -- and do so at an even greater scale.”

New Leadership for NetGain Technologies

Hank Dallam, who will head up NetGain Technologies going forward, joined the company in September 2022. Before joining he served as president and chief operating officer for Just in Time Services & Rentals, a construction rental service for oil and gas businesses. Burke will remain as a board leader at NetGain Technologies.

Burke offered this comment about Dallam’s leadership at NetGain Technologies:

“Our philosophy at Helix is to empower exceptional leaders to run our businesses, supporting them as needed. Dallam is an experienced leader who has demonstrated an ability to operate efficiently at scale, steward culture and deliver quality services to clients. I’m confident that Dallam is the right leader to build on NetGain’s success.”

Jessica C. Davis

Jessica C. Davis is editorial director of CyberRisk Alliance’s channel brands, MSSP Alert, MSSP Alert Live, and ChannelE2E. She has spent a career as a journalist and editor covering the intersection of business and technology including chips, software, the cloud, AI, and cybersecurity. She previously served as editor in chief of Channel Insider and later of MSP Mentor where she was one of the original editors running the MSP 501.