Evergreen buys WA-based MSP OSIT, marks largest ANZ acquisition

Evergreen has announced its largest acquisition in the ANZ region, welcoming Office Solutions IT (OSIT) to its growing portfolio of managed IT services and software partners under Evergreen's operating company Lyra Technology Group.

The news marks its first acquisition of an MSP there with an existing employee share option plan (ESOP); OSIT will join two other ESOPs in the Evergreen portfolio.

Founded in 1996 and headquartered in Western Australia, OSIT supports 1,000 small and midsize businesses and more than 20,000 users across Perth, Sydney, and Melbourne.

The company delivers a full suite of services, including managed IT services, IT support, cybersecurity, cloud, Microsoft 365, and vCIO advisory.

OSIT also has experience in M&A, having acquired three MSPs between 2022 and 2023, and has seen 10x organic revenue growth over the last 10 years.

"After spending a decade helping grow OSIT into what it is today, finding the right growth partner wasn't just about the financials; it was about preserving our culture and empowering our people for the next chapter,” said James Sutton, CEO of OSIT.

“Evergreen understood our employees’ wants and needs from day one, and its operating model—which is built around MSPs retaining their identity and independence—made them the obvious choice. We're well into that next chapter, and reality is being part of Evergreen is exceeding our expectations.”

Waruna Kirimetiyawa, regional CEO for ANZ at Evergreen and previous managing director of Evergreen-acquired Lancom Technology, said what excites him most about bringing OSIT into the group is the people and what they have built over time.

"This is a business that operates in the top tier of MSPs across ANZ, combining scale and efficiency with an exceptional culture and deeply embedded customer trust," he said.

"They have developed a unique operating model that consistently delivers tailored outcomes for clients, and just as importantly, a strong foundation for the next generation of leadership. Our role is to support and amplify that by backing the team for their next chapter while preserving everything that makes OSIT special.”

Zaun Bhana, M&A professional at Evergreen, said he has known the OSIT team personally for over 15 years, back from when he was running his own MSP.

"I saw firsthand what they built, the growth, and how successful it has become. They operate in the top tier of MSPs across ANZ and have a unique business systems model and design that I have not seen replicated anywhere else," he said.

“Now with Evergreen, the chance to provide a path for succession and backing them for the next chapter is a full-circle moment. They've proven how to combine scale and efficiency whilst retaining an incredible staff culture that aligns with their values and ethos. Wrapped together, this provides a service, offerings, and support that is tailored to each client's individual needs. This is exactly the kind of business that Evergreen was built to back."

Last month, Evergreen’s Pine Services Group acquired Stratus Consulting Group, an Australian ERP consulting and implementation partner supporting mid-market organizations nationwide.

Over the past 18 months, Evergreen has acquired local South Australia-based Blackbird IT, Brisbane-based REDD and Perth-headquartered CT Group.