Financial terms were not disclosed. Evergreen's earlier investments include Executech (in Utah) and Wolf Consulting (also of Pittsburgh).
Evergreen positions itself as a family of "leading managed IT services companies backed by Alpine Investors and operated by world-class leadership teams."
Also of note: While some investors try to buy, fine-tune and flip their MSP investments for a fast profit, Evergreen has a "long-term time horizon" that focuses "first and foremost on providing a great home for founder-led businesses that care deeply about their customers and employees."
Instead of rolling up multiple MSPs into a single company or forcing founders out the door, Evergreen continues to run each investment independently -- essentially taking a back seat to each MSP's existing management team.
Jenlor Integrations: A Closer Look
Those words ring true for each of Evergreen's three MSP investments. In Jenlor's case, Bill Peters remains CEO, Don Garrett continues as CTO and all management and staff remain in place.
Jenlor CTO Don Garrett
Jenlor, founded in 2001, offers customized managed IT services, cloud services, and infrastructure solutions. The company strives to "fill gaps" between business owners, in-house IT professionals, and other customer team members.
Jenlor's secret sauce includes a "true network evaluation" -- or TNE for short. It all starts with a half-day, onsite visit from one of Jenlor's top-level network engineers. During the visit, the engineer takes inventory of infrastructure, tests systems, identifies hidden technical issues, and uncovers opportunities for untapped productivity.
Reaction to the Deal
Executives from both sides of the Evergreen and Jenlor deal weighed in with a range of insights.
In a prepared statement, Evergreen CEO Jeff Totten said:
“We couldn’t be more excited to partner with JENLOR and expand Evergreen’s presence in Pittsburgh. Bill, Don and the JENLOR team have built an exceptional business with a flexible service delivery model, excellent customer service and a great company culture, and we look forward to investing in and supporting JENLOR for many years to come as it continues its impressive growth trajectory.”
Added Jenlor's Peters:
“The JENLOR team is extremely proud of our achievements in the Pittsburgh marketplace. Over the past 18 years we’ve been successful in carving out our own identity in a crowded MSP landscape – focusing on what’s best for our clients, our team and the company’s future each step of the way. The Evergreen partnership offers a natural next step in JENLOR's evolution. This partnership will help solidify our existing growth strategies and support our development moving forward. We are very fortunate to have found a partner that shares the same core values and culture characteristics that have been the key to our success.”
Concluded Garrett:
“We are very excited to leverage Evergreen’s investment into JENLOR. It will allow us to accelerate the growth of our technology services portfolio. IT is an ever-changing landscape and a big part of what we do here at JENLOR involves being strategically positioned to help our clients better navigate that landscape. We're confident this new partnership with Evergreen will further empower us to do exactly that.”
Next Moves
While Jenlor focuses on scaling its business, it's a safe bet Evergreen is still in the market to make additional MSP investments across the United States. Among the names to know: Evergreen's Ramsey Sahyoun -- the company's head of M&A.
