Evergreen's latest acquisition shines the opportunity spotlight on security-specialized MSPs and MSSPs working within highly-regulated industries
SAN FRANCISCO, July 24, 2025 /PRNewswire-PRWeb/ -- Today, Evergreen, a family of managed IT services and software partners, announced the acquisition of ImageQuest, a trusted provider of managed IT, cybersecurity, and compliance solutions. The deal signals the growing investment Evergreen continues to make in security- and compliance-specialized MSPs and MSSPs, and a stronger focus on key verticals including financial services and will continue operations under Lyra Technology Group, Evergreen's portfolio of managed IT services providers.
According to Canalys, the IT managed services industry is projected to reach $595 billion globally by the end of 2025, driven by evolving cybersecurity threats and increased demand for comprehensive solutions. In turn, Evergreen has seen its recurring business around cybersecurity and compliance as a service grow by over 20% during the last six months.
"The demand for proactive, intelligent, and fully managed cybersecurity is skyrocketing—especially in highly regulated industries where protection is critical, but often overlooked," says Elliott Hyman, CEO at Lyra Technology Group. "We are actively pursuing relationships with MSPs who are in this business, see the potential to add value, and want to grow together."
ImageQuest Readies for Next Wave of Growth with Evergreen
Founded nearly two decades ago, ImageQuest provides managed IT services, cybersecurity solutions, and strategic information security advisory services to clients in highly regulated industries, including financial services. The company has built a strong reputation for its proactive service approach and trusted client relationships.
"Today's businesses need an experienced and trusted IT provider to help them navigate the complexities of the technology and the market," said Milton Bartley, founder and CEO of ImageQuest. "We're a true business partner to our customers, and that, on top of our culture, growth, and technical expertise, was of real value to Evergreen. Their commitment to supporting our team, protecting our culture, and fueling our growth, without compromising the principles that define us, means this partnership rewards our investors, takes care of our people, and sets ImageQuest up for a strong future."
"We look for three non-negotiables in every IT services and software partner we acquire: strong leadership, a clear market edge, and a culture that consistently delivers excellence," said Ramsey Sahyoun, M&A Partner at Evergreen. "Milton and the team have built something special at ImageQuest, and we're proud to be part of the journey and accelerate their success at scale."
Evergreen's investment approach emphasizes long-term growth and stability without imposing rebranding or major restructuring on successful businesses. ImageQuest's leadership team, employees, service offerings, and client relationships will remain in place while benefiting from Evergreen's broader network of technology partners and resources.
About ImageQuest
ImageQuest is a leading provider of IT, cybersecurity, and compliance solutions for businesses across multiple industries. With a mission to build strategic, trusted partnerships and leverage its expertise to empower its clients to succeed, ImageQuest's experienced team offers a range of services tailored to the unique needs of each client. From proactive cybersecurity to reliable managed IT support, ImageQuest partners with businesses to deliver value-driven solutions that support growth, efficiency, and peace of mind.
About Lyra Technology Group
Lyra Technology Group is a family of industry-leading technology service businesses. Our companies are operated independently by exceptional management teams. Lyra is a constellation that includes some of the brightest stars in the world. Like stars in a constellation, we partner with companies that shine on their own and come together to form something even greater. Companies that join our group retain the employees, name, and culture that have made them successful. As a platform of Evergreen, we never divest from the businesses we partner with and approach every decision with the goal of driving sustainable and healthy growth over the long term. For more Lyra Technology Group news and information, visit http://www.lyratechgroup.com.
About Evergreen
Evergreen is a family of leading managed services and software companies operated by world-class leadership teams. Evergreen partners with owners of services and software businesses to provide operational assistance and capital in support of growth and exceptional service delivery. Evergreen differentiates itself by providing a permanent home for businesses that care deeply about their customers and employees. For more Evergreen news and information, visit http://www.evergreensg.com.
Media Contact
Myra Austin, WhiteFox Marketing for Evergreen, 1 7013407859, [email protected]
SOURCE Evergreen
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