Evergreen enters Irish IT market with acquisition of Spector

Evergreen has completed its first acquisition in Ireland with the purchase of Dublin-based managed service provider Spector.

With an established presence in the US, UK, and Australia and New Zealand, Evergreen has entered the Irish market by acquiring Spector, which has a 23-year record of providing IT services. The terms of the transaction have not been disclosed.

The managed services sector in Ireland continues to see substantial growth. This trend is characterised by the expansion of the technology industry and an increased demand among businesses for the outsourcing of IT functions. Evergreen's move into Ireland marks a further step in its strategy to broaden its international footprint through the acquisition of locally specialised IT companies.

Leadership changes have also been confirmed as part of the transition. Jamie Crooks will become Spector's new Chief Executive Officer, while Mark Hurley, Spector's founder, will become Chairman. The company will maintain its current operations under the Lyra Technology Group, Evergreen's decentralised structure, and no changes to other staffing or pricing have been announced.

Local expertise

Evergreen stated that Spector would preserve its identity and focus, operating independently within the Lyra Technology Group's portfolio. Leadership noted the acquisition was aligned with Evergreen's strategy to invest in businesses with established local track records, long-term client relationships, and operational stability.

"Spector is a remarkable company committed to creating the best technology solutions for their clients. We could not be more excited to partner with them on the next phase of their continued growth as our flagship investment in Ireland." said Elliott Hyman, CEO at Lyra Technology Group.

Isobelle Coventry, M&A Professional at Evergreen, added that Spector was seen as an ideal fit within the broader group:

"We are thrilled to welcome Spector into Evergreen. Spector's commitment to its people and clients, forward-thinking technology strategy, and reputation for exceptional service make it an ideal fit. This partnership empowers Spector to grow sustainably while preserving the culture and customer focus that have made it so successful."

Spector is expected to continue operating in Ireland and will have access to global best practices and knowledge sharing across Evergreen's operations in the US, UK, Canada, Australia, and New Zealand. In addition, new capabilities in artificial intelligence, cybersecurity, and automation will become available to Spector's clients as part of the wider network.

Growth plans

Mark Hurley, who will move into the Chairman role following the completion of the deal, commented on the nature of the partnership:

"This partnership with Evergreen is about growth with integrity. We were looking for more than just investment; we wanted a partner that shared our values. Evergreen's 'buy and hold forever' approach, along with their strategic support and international network, positions us to serve our clients even better."

Evergreen has emphasised that it will continue its approach of providing permanent homes for the businesses it acquires. Spector's senior management and staff are expected to remain, with no other immediate operational or pricing changes affecting clients or employees.

Coventry further noted the operational standards and client dedication that influenced Evergreen's decision to acquire Spector:

"Spector has built an impressive foundation. From their operational discipline to their top-tier Net Promoter Scores and dedication to client success, they exemplify the kind of business we're proud to back long-term. We see tremendous opportunity to scale Spector's impact in the Irish market and beyond."

Spector will leverage Evergreen's support and Lyra Technology Group's international reach to continue serving existing clients, while seeking to expand service delivery and commercial strategy in Ireland.

No further staffing or structural changes are planned as a result of the acquisition, which was completed with the mutual aim of maintaining Spector's business model while scaling its offerings in line with global IT service trends.