Evergreen Services Group is acquiring VirtualArmour, a managed security services provider (MSSP). Financial terms of the deal, which is expected to close in the third quarter of 2021 or sooner, were not disclosed.
This is technology M&A deal number 358 that MSSP Alert and sister site ChannelE2E have covered so far in 2021.
In a prepared statement about the M&A deal, Evergreen CEO Jeff Totten said:
“We are excited to expand our cybersecurity capabilities by joining forces with VirtualArmour. From our first interaction, we were impressed by Russ, the VirtualArmour team and the company they have built. We look forward to partnering with the VirtualArmour team to bring a comprehensive managed cybersecurity offering to Evergreen’s customers.”
Added VirtualArmour’s Armbrust:
“Evergreen is a proven growth partner which will bring long-term vision and resources to support our growth while we continue independent operations. Evergreen will enable us to continue providing great service to our customers while we expand our capabilities in furtherance of our mission to be the industry’s leading provider of managed security services.”
Ramsey Sahyoun, head of M&A, Evergreen Services Group
Andrew Douthwaite, CTO, VirtualArmour
Noted VirtualArmour CTO Andrew Douthwaite:
“VirtualArmour’s success stems from our absolute dedication to client satisfaction and world-class service. With Evergreen’s investment, we are further affirmed in the quality of our company, our team, and our abilities as a premier cybersecurity managed services provider. It will be exciting to continue building VirtualArmour with our new partner Evergreen!”
Concluded Evergreen’s Sahyoun:
“With the ever-increasing importance of cybersecurity for all businesses, we knew we wanted to find an MSSP to partner with, and we think VirtualArmour is a perfect fit. We’re excited to support VirtualArmour in growing its business alongside our MSPs and expanding the company’s partner program.”
Capstone Partners, an independent, full-service middle market investment bank, acted as the exclusive financial advisor to VirtualArmour, the seller says.