Evergreen Expands ANZ Footprint with OSIT Acquisition

Evergreen has acquired Office Solutions IT (OSIT), expanding its managed services presence in Australia and New Zealand through its Lyra Technology Group portfolio.

The deal marks Evergreen’s largest acquisition in the ANZ region and its first regional MSP acquisition involving a company with an existing employee stock ownership plan (ESOP). OSIT will join two other ESOP-backed businesses in Evergreen’s broader portfolio. Financial terms were not disclosed.

Founded in 1996 and based in Western Australia, OSIT provides managed IT services, cybersecurity, cloud, Microsoft 365, IT support, and vCIO advisory services. The company supports about 1,000 small and midsize businesses and more than 20,000 users across Perth, Sydney, and Melbourne.

OSIT adds scale and acquisition experience

OSIT brings both organic growth and M&A experience to Evergreen. The company reported 10x organic revenue growth over the past decade and acquired three MSPs between 2022 and 2023 to expand its customer base and service capabilities.

James Sutton, CEO of OSIT, said the company prioritized a buyer that could support growth while preserving OSIT’s culture and employee model.

“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 Sutton in a statement. 

“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,” Sutton continued.

Evergreen continues ANZ expansion

Waruna Kirimetiyawa, regional CEO for ANZ at Evergreen, said OSIT stood out for its scale, operating model, and customer trust across the Australian market.

“What excites me 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,” Kirimetiyawa 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,” Kirimetiyawa continued.

Evergreen first entered the A/NZ market in 2024 when it acquired Auckland-based Lancom Technology.

MSP consolidation remains active

The acquisition lands amid continued consolidation across the global MSP market, as strategic buyers and private equity-backed platforms pursue providers with recurring revenue, cybersecurity capabilities, cloud expertise, and regional customer density.

Drake Star’s Q1 2026 MSP Market Report said M&A activity remained strong during the quarter, with more than 120 MSP transactions driven by strategic and financial buyers expanding capabilities across cloud, cybersecurity, data, and AI.

WATCH: Join host Katie Bavoso for a conversation with Harbor IT leaders about their approach to M&A and building a services organization for the future.

Evergreen emphasizes independent operating model

For Evergreen, OSIT strengthens Lyra Technology Group’s ANZ footprint while reinforcing its model of acquiring established MSPs without folding them into a single operating brand. 

OSIT will retain its name, employees, and culture as part of the group.

“I’ve been fortunate to know the OSIT team personally for over 15 years, back from when I was running my 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,” said Zaun Bhana, M&A professional at Evergreen.

“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,” continued Bhana.