Evergreen snaps up Brisbane-based REDD as its 100th MSP acquisition

US-based Evergreen Services Group has made its 100th managed service provider (MSP) acquisition with the purchase of Brisbane-headquartered REDD.

Under the new ownership, REDD will continue to operate independently under the holding group’s MSP portfolio, Lyra Technology Group.

Evergreen said in a statement that the deal is a “key investment” in expanding its presence in the Australia and New Zealand (A/NZ) region.

“REDD has always been built on a commitment to exceptional service, strong relationships and a culture that puts people first. That doesn’t change,” said REDD managing director and CEO Brad Ferris.

“What excites us about joining Evergreen and Lyra is the opportunity to stay true to who we are while being bolstered by a global network of like-minded businesses.

“This partnership enhances our ability to deliver for our clients, share best practices and tap into a deep pool of expertise — all while preserving the team, culture and values that make REDD unique.” 

Evergreen mergers and acquisition (M&A) advisor Craig Fulton added that Ferris’ and REDD founder Nigel Heyn’s leadership and values align with the now-parent holding group’s vision.

“In becoming part of the Evergreen network, REDD is positioning itself for continued success while contributing valuable insights to peers across the portfolio,”  he said.

Evergreen’s acquisition of REDD is the latest in a number of local deals. In December last year, it acquired CT Group, which marked its eighth Australian deal.

Evergreen also acquired New Zealand-based Lancom Technology in January 2024, and Centered, its first Australian MSP deal, two months later in March.

In addition to announcing its acquisition of REDD, Evergreen also announced it was honoured at Pax8’s Beyond conference as its first partner to generate over $1 billion in IT services revenue.

“It’s been impressive to witness the growth and revenue milestones Evergreen and Lyra have achieved over the last few years,” said Pax8 executive vice president and general manager for the Americas Lane Brannan.

“While obtaining a billion dollars of revenue is an impressive achievement alone, it also signals the critical role and impact MSPs have in driving technology adoption within the SMB market. We look forward to fuelling our strong partnership with Lyra and congratulate them on this significant milestone.”