Evergreen, a family of managed IT services and software partners, announced today its acquisition of ETHOSystems,  a provider of integrated construction and commercial real estate software solutions. ETHOSystems will join Pine Services Group, Evergreen’s dedicated ERP vertical.

ETHOSystems is listed at #87 on Bob Scott’s VAR 100 with $9 million revenues ,36 employees providing services for Sage 100 CRE, Sage 300 CRE, Intacct Construction/CRE.

Pine Services Group acts as a type of private equity group whose  specialty is acquiring MSP and technology providers and leaving them to continue running their businesses. This happens through a number of subsidiaries including Evergreen

Evergreen’s website describes their business as a holding company that buys businesses and holds them indefinitely. We acquire Managed IT Services, Government Services, Enterprise Software Partners, and Financial Technology companies. Their website further notes that they are different because they offer a permanent home for businesses and they pay 100% cash up front via committed capital from Alpine Investors. The company describes their acquisitions as meeting the criteria of a minimum $500k of EBITDA and at least 50% recurring revenue.

Evergreen also announced in April 2024 that former Sage North America executive Nancy Harris joined as an advisor.