Executech, Evergreen Push North with Nucleus Acquisition
Managed IT services provider Executech, backed by Evergreen Services Group, acquired Nucleus, an IT support provider from Vancouver, Canada.
This is technology M&A deal number 528 that ChannelE2E has covered so far in 2021. See all technology M&A deals for 2021 and 2020 listed here.
Founded in 2001 by Gary Baerg, Nucleus provides IT services and support to businesses across Canada. The company’s CEO, Martin DesRosiers, and the rest of the management team will remain in their current roles, according to Executech. Nucleus will remain a standalone entity under its current brand as a Canadian corporation while Baerg transitions out of his involvement with the company, Executive said.
Executech is backed by Evergreen Services Group, a private equity-funded organization that has made roughly 20 or so investments and acquisitions in the MSP market since January 2018. The deal expands Executech’s geographical reach, according to the Salt Lake City, Utah-based MSP.
Executech Acquires Nucleus: Oh, Canada!
DJ Dorff, CEO of Executech, commented:
“We are thrilled to have a Canadian-owned and operated company joining the Executech family. The Nucleus team has built an incredible reputation with their clients, and we look forward to growing and collaborating together.”
Martin DesRosiers, CEO of Nucleus, added:
“Executech’s vision and values align extremely well with our own. We are excited to have the additional resources available through Executech while continuing to scale our operations across Canada.”
This acquisition is the third major acquisition by Executech in the past 12 months, though the company has completed a number of deals in recent years. Past acquisitions 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.
Executech also purchased the clientele of Max Technology, an IT services provider in Carbon County, Utah, in March 2018.
Executech has been backed by Evergreen Services Group since around January 2018. Evergreen, in turn, was funded by Alpine Investors, a private equity firm. Evergreen has invested in or acquired roughly fifteen MSPs — including Integritek LLC, Wolf Consulting, JENLOR, and Interlaced, among others.