Evergreen Services Group has celebrated a significant milestone by announcing its 100th acquisition of a managed IT services provider, welcoming REDD, an Australian company based in Brisbane. This acquisition marks a crucial step in Evergreen’s strategy to enhance its presence in the Australia and New Zealand region. Founded in 2016, REDD has built a reputation for exceptional service and strong client relationships, aligning closely with Evergreen’s vision. Craig Fulton, M&A advisor at Evergreen, emphasized that REDD’s leadership values resonate with the company’s long-term goals, positioning them for continued growth and shared insights within Evergreen’s network. Evergreen was recognized as the first partner of Pax8 to generate over one billion dollars in IT services revenue.
Why do we care?
Evergreen hitting 100 acquisitions with the REDD deal is proof that the buy-and-hold model in managed services scales—and is going global. This isn’t just an M&A milestone—it’s a signal that new ownership frameworks are reshaping the IT services landscape.
Let’s note that It took Evergreen seven years to reach 100 acquisitions. The pace has appeared to slow relative to earlier years, possibly due to market saturation, higher valuations, or tighter credit markets. My sources tell me that the available market of acquirable MSPs has shrunk – because they have all been bought up.
For independent MSPs, this means two things:
- Evergreen is no longer a niche story—it’s a legitimate strategic player whose scale creates pricing, hiring, and competitive pressure in any region it enters.
- But also, it shows there are alternatives to PE rollups that often hollow out service quality for EBITDA gains. If you want to keep your culture, your team, and your vision—there’s now a global model for that.
The broader message? Strategic buyers are evolving, and savvy MSPs should begin planning their ownership future before the field becomes too crowded.