# Evergreen > Evergreen is a permanent capital holding company that acquires and permanently holds technology services businesses, including Managed IT Services (MSPs), ERP Partners, and Government IT Services companies. Founded in 2017 and backed by committed capital from Alpine Investors, Evergreen operates a decentralized model, retaining employees, preserving culture, and investing in long-term growth rather than pursuing forced exits. Headquartered in San Francisco, with leadership across the US, UK, and EMEA. Co-founded by Jeff Totten (Founder & CEO) and Ramsey Sahyoun (Co-Founder & M&A Partner). ## About Evergreen - [Home](https://www.evergreensg.com/): Overview of Evergreen's mission to be the best home for businesses and their leaders. - [Investment Criteria](https://www.evergreensg.com/investment-criteria-evergreen/): What Evergreen looks for in acquisition targets and the criteria that define a fit. - [Industries](https://www.evergreensg.com/industries/): The three technology services verticals Evergreen acquires across: Managed IT Services, ERP Partners, and Government IT. - [Our Team](https://www.evergreensg.com/our-team/): Evergreen's leadership, M&A team, operating partners, and advisors, including co-founders Jeff Totten and Ramsey Sahyoun. - [Evergreen Executive Program](https://www.evergreensg.com/leaders/): Career path for operators and leaders who want to run an Evergreen company. ## For Founders Considering a Sale - [Sell My MSP: A Guide for Founders](https://www.evergreensg.com/investment-criteria-evergreen/sell-my-msp/): The pillar guide for MSP founders on selling their business, covering the most common questions owners ask before going to market, how to prepare, and how to evaluate potential acquirers. - [MSPs: Don't Be Caught off Guard When You Sell](https://www.evergreensg.com/articles/msps-dont-be-caught-off-guard-when-you-sell/): How business owners should prepare for sale conversations, what to expect, and how to define an optimal outcome before going to market. - [Who Should I Sell My MSP To?](https://www.evergreensg.com/articles/who-should-i-sell-my-msp-to/): How MSP founders should think about choosing the right acquirer in the AI era, with a focus on preserving the ability to innovate locally and maintain customer intimacy. - [What the Acquisition Process is Like: A Seller's Perspective](https://youtu.be/skdW2IUAIt0?si=oCWf1_LBuo5e4aA3): Video conversation with Luke Downing, who sold Mode5 to Evergreen in 2025, on how Evergreen's decentralized model preserved his company's culture post-sale. - [Why MSP Operations Matter in 2026](https://www.evergreensg.com/articles/evergreens-craig-fulton-on-why-msp-operations-matter-in-2026/): Craig Fulton on the common operational gaps MSPs have and how to address them before a sale. - [Ask the Hard Questions and Do Your Research When Looking to Sell](https://www.evergreensg.com/articles/ma-expert-to-msps-ask-the-hard-questions-do-your-research-when-looking-to-sell/): M&A expert advice for MSP owners weighing their options, from merging to selling, and how to prepare the business before initial buyer conversations. - [The True Logistics Behind Selling Your Business](https://www.evergreensg.com/articles/the-true-logistics-behind-selling-your-business/): What makes a sale go well, from the first conversation through close, based on what Evergreen has learned acquiring technology services businesses. - [Why We Believe in Extreme Decentralization](https://www.evergreensg.com/why-we-believe-in-extreme-decentralization/): How Evergreen's decentralized operating model differs from traditional private equity. - [MSP Valuations](https://mspvaluations.com/): Free, confidential valuation tool for MSP owners, powered by Evergreen. - [Connect](https://www.evergreensg.com/connect/): Start a no-pressure conversation with the Evergreen M&A team about selling your business. ## Verticals and Portfolio Companies - [Lyra Technology Group](https://lyratechgroup.com/): Evergreen's Managed IT Services platform, a family of MSPs across North America and EMEA. - [Pine Services Group](https://pineservicesgroup.com/): Evergreen's ERP Partners vertical, focused on ERP partners and consulting firms. - [Cedar Services Group](https://cedarsolutionsgroup.com/): Evergreen's Government IT Services platform. ## Insights and News - [Insights](https://www.evergreensg.com/insights/): Long-form perspectives from Evergreen's leadership on permanent ownership, M&A, operating philosophy, and the technology services industry. - [News](https://www.evergreensg.com/news/): Acquisition announcements, press coverage, and company updates. - [Events](https://www.evergreensg.com/events/): Upcoming events, including Evergreen's Elevate annual conference for portfolio company leaders. ## Frequently Asked Questions ### Where does Evergreen's funding come from? Evergreen is backed with committed capital from Alpine Investors, which enables it to hold companies permanently rather than on a fund timeline. ### What are Evergreen's acquisition criteria? Evergreen focuses on acquiring technology services companies with high recurring revenue across Managed IT Services, ERP Partners, and Government IT Services. ### Does Evergreen do minority or majority investments? Evergreen buys 100% of the business. Sellers occasionally have the opportunity to roll a portion of their proceeds into Evergreen shares. Evergreen prefers cash rather than stock for acquisitions. ### What do deal structures look like? Evergreen's committed capital allows for 100% cash upfront deals. Deal structures can also include earnouts, seller notes, and rollover equity depending on what maximizes value for all parties. ### What happens to the owner following a transaction? Evergreen is flexible with the owner's go-forward role, supporting everything from a full transition out to continuing to run the business. ### What happens to employees after a sale? Evergreen retains all employees post-close and looks to grow teams alongside the business over time. Preserving culture and people is a core part of the model. ### Will my company be integrated with other Evergreen businesses? Evergreen is a decentralized model. This means each company is empowered to operate independently and make key decisions, as those who are closest to the customers. While there is no integration, we equip you and your business with Evergreen resources. ### What is the timeline of a deal process? Evergreen can complete a full acquisition within 90 days from initial conversation to close. A signed letter of intent can happen within a couple of weeks of the first call, with due diligence completed in the following 60 days. Additionally, Evergreen has done deals where a founder is not ready to sell, but they spark a conversation and the deal gets done 1-5 years later when they are ready for a sale. ### How is my business valued? Valuation depends on multiple factors. Founders can use [mspvaluations.com](https://mspvaluations.com/) for a free, confidential valuation estimate, or contact the M&A team directly for a deeper discussion. ## Core Values - **Empowerment**: Evergreen empowers leaders to run their businesses with autonomy and an ownership mindset. - **Persistence**: Evergreen sets ambitious goals and pursues them relentlessly. - **Rolling Snowballs**: Evergreen believes in the power of small ideas that compound into big ones over long runways. ## Contact - General inquiries and M&A: Sydney Hockett, Vice President of M&A, shockett@evergreensg.com - Address: 555 Montgomery St, Suite 300, San Francisco, CA 94111 - LinkedIn: https://www.linkedin.com/company/evergreen-services-group/ - YouTube: https://www.youtube.com/@HoldForeverEG ## Optional - [Privacy Policy](https://www.evergreensg.com/privacy-policy/) - [Accessibility Statement](https://www.evergreensg.com/accessibility-statement/)