REDD Marks 100th Acquisition for Evergreen with Strategic MSP Expansion
Deal News | Jun 12, 2025 | EIN
Evergreen Services Group, a US-based entity, has successfully acquired its 100th managed service provider (MSP), REDD, headquartered in Brisbane. This acquisition translates into a significant investment aimed at broadening Evergreen's operations within the Australia and New Zealand region. REDD will continue to function independently under the auspices of Lyra Technology Group, Evergreen's MSP portfolio. REDD's managing director and CEO, Brad Ferris, emphasized that the organization's intrinsic values centered on exceptional service and people-centric culture will remain unchanged despite this new partnership. The acquisition not only reinforces REDD's operational capabilities by connecting it to a global network of congruent businesses but also positions the company to contribute prolific insights throughout Evergreen's portfolio. The move marks another local strategic acquisition for Evergreen, which recently incorporated CT Group and New Zealand's Lancom Technology into its expanding portfolio. Furthermore, Evergreen's efforts and successes in the IT services domain were acknowledged at Pax8's Beyond conference, spotlighting its remarkable achievement of generating over $1 billion in IT services revenue.
Sectors
- Information Technology Services
- Mergers and Acquisitions
Geography
- United States – Evergreen Services Group is a US-based company, influencing its decision-making and strategic direction.
- Australia – Brisbane-headquartered REDD represents the target company's location, marking it as a crucial geography for the transaction.
- New Zealand – Part of Evergreen's expansion strategy in the Australia and New Zealand region, previously including the acquisition of Lancom Technology.
Industry
- Information Technology Services – The acquisition is centered around managed service providers, which operate within the IT services industry, focusing on delivering technology solutions and support to clients.
- Mergers and Acquisitions – The article discusses Evergreen Services Group's acquisition of REDD, highlighting strategic growth through M&A activities.
Financials
- $1 billion – Revenue milestone achieved by Evergreen Services Group in IT services as recognized at Pax8's Beyond conference.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Evergreen Services Group | Bidding Company | Company | A US-based company specializing in acquiring managed service providers as part of its growth strategy. |
| REDD | Target Company | Company | A Brisbane-based managed service provider acquired by Evergreen Services Group. |
| Lyra Technology Group | Holding Group | Company | Evergreen's MSP portfolio under which REDD will continue to operate independently. |
| Brad Ferris | Managing Director and CEO | Person | Managing director and CEO of REDD, emphasizing commitment to existing company values post-acquisition. |
| Nigel Heyns | Founder | Person | Founder of REDD whose leadership aligns with Evergreen's vision. |
| Pax8 | Event Host | Company | Technology event organizers, recognized Evergreen for its revenue achievement at their Beyond conference. |
| Lane Brannan | Executive Vice President and General Manager for the Americas | Person | Pax8 executive commenting on Evergreen's accomplishments and partnership. |