Evergreen Eyeing 30 To 40 Acquisitions After Record-Breaking Year

MSP founder also has revenue goals of $5 billion by 2030

Published on Feb. 26, 2026

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Evergreen, a San Francisco-based holding company, closed 16 acquisitions in the fourth quarter of 2025, including 11 MSPs, and is now aiming for 30 to 40 M&A deals in 2026. The company's decentralized, buy-and-hold strategy, which allows acquired companies to retain their brands, leadership, and community presence, continues to resonate with owners weighing their exit options. Evergreen's co-founder and M&A partner, Ramsey Sayhoun, says the company's focus is on accelerating acquisition pace, growing organically at double-digit rates, and expanding margins to reach its goal of $5 billion in revenue by 2030.

Why it matters

Evergreen's success highlights the growing trend of consolidation in the managed services provider (MSP) industry, as larger players like Evergreen look to acquire smaller MSPs to expand their reach and capabilities. The company's decentralized model, which allows acquired companies to maintain their local identity and presence, is seen as a differentiator in a market where many MSP acquisitions result in the loss of the acquired company's brand and community ties.

The details

Evergreen closed 16 acquisitions in the fourth quarter of 2025, including 11 MSPs, marking the company's biggest year for M&A activity. The company's decentralized, buy-and-hold strategy, which allows acquired companies to retain their brands, leadership, and community presence, continues to be a key factor in the company's success. Evergreen has also scaled its acquisition team, now having 12 people focused solely on MSP acquisitions, which has increased the company's capacity. Additionally, Evergreen has shifted from just protecting the businesses it acquires to actively making them better, with a focus on clear value creation plans and execution.

  • In the fourth quarter of 2025, Evergreen closed 16 acquisitions, including 11 MSPs.
  • Evergreen expects to complete between 30 and 40 MSP acquisitions in 2026.

The players

Evergreen

A San Francisco-based holding company that specializes in acquiring and growing managed services providers (MSPs).

Ramsey Sayhoun

The co-founder and M&A partner at Evergreen.

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What they’re saying

“We want to reach $5 billion in revenue by 2030. That's not just about buying more companies. It's three things: accelerate acquisition pace, grow organically at double-digit rates and expand margins.”

— Ramsey Sayhoun, Co-founder and M&A partner (CRN)

“For the first few years, we were really good at not buying businesses and not messing them up. Now we're good at buying businesses and making them better. That's the shift. We've learned what works in this industry, and we've gotten very good at accelerating growth.”

— Ramsey Sayhoun, Co-founder and M&A partner (CRN)

What’s next

Evergreen plans to continue its aggressive acquisition pace in 2026, with a goal of completing between 30 and 40 MSP acquisitions.

The takeaway

Evergreen's success highlights the growing trend of consolidation in the managed services provider (MSP) industry, as larger players look to acquire smaller MSPs to expand their reach and capabilities. The company's decentralized model, which allows acquired companies to maintain their local identity and presence, is seen as a key differentiator in a market where many MSP acquisitions result in the loss of the acquired company's brand and community ties.