Evergreen Services Group Enters into an Agreement to Acquire VirtualArmour

In VirtualArmour, Evergreen sees the opportunity to enhance its capabilities in the rapidly growing cybersecurity services market that is highly complementary to Evergreen's portfolio of MSPs.

FREMONT, CA: Evergreen Services Group, a family of leading managed IT services companies, announced that it has entered into a definitive agreement to acquire substantially all the operating assets of VirtualArmour, a leading global managed security services provider (MSSP). The transaction is expected to close later in the second quarter or early in the third quarter of 2021, at which time the company will continue to operate independently under its existing leadership team led by CEO Russ Armbrust.

"We are excited to expand our cybersecurity capabilities by joining forces with VirtualArmour," said Jeff Totten, Evergreen's CEO. "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."

In VirtualArmour, Evergreen sees the opportunity to enhance its capabilities in the rapidly growing cybersecurity services market that is highly complementary to Evergreen's portfolio of MSPs. Through its Security Operations Center as a Service (SOCaaS), offering professional services and best-in-class cybersecurity offerings, VirtualArmour manages the entire security lifecycle, from initial assessment to implementation and remediation.

"Evergreen is a proven growth partner which will bring long-term vision and resources to support our growth while we continue independent operations," said Armbrust. "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."

VirtualArmour follows Evergreen's acquisition of 28 managed IT providers since 2018. Evergreen continues to actively invest in leading IT service providers throughout North America, where it can serve as a long-term capital partner and support future growth. Capstone Partners, an independent, full-service middle-market investment bank, acted as the exclusive financial advisor to VirtualArmour.