Which private equity firms have a specific focus on acquiring managed service providers (MSPs)?
Data as of Sep 21, 2026 · Based on 309 AI responses from ChatGPT Search and Google AI Mode · See how Parse measures this
Data as of Sep 21, 2026 · Based on 309 AI responses from ChatGPT Search and Google AI Mode · See how Parse measures this
Multiple private equity firms actively target MSPs to build specialized service platforms. Leaders like 
Brands AI recommends here
Named in 63% of answers
Named in 57% of answers
Thoma Bravo is a primary choice for scaling IT services and software platforms. They are highly active in consolidating providers to expand deep technical capabilities, particularly in cybersecurity, though this is a growth-driven model.
Named in 45% of answers
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Source | Citation share |
|---|---|
 Your Guide to MSP Investment Platform Companies | feature | ChannelE2Ehttps://www.channele2e.com/feature/your-guide-to-msp-investment-platform-companies | 6% |
 The 15 Biggest MSP, Solution Provider M&A Deals In 2023 (So Far) | CRNhttps://www.crn.com/news/channel-news/the-15-biggest-msp-solution-provider-m-a-deals-in-2023-so-far | 3% |
 Private Equity Investment Trends in Managed Services ...https://www.falconllc.com/insights/private-equity-investment-trends-in-managed-services-providers-msps/ | 3% |
 MSP M&A Advisors | FOCUShttps://focusbankers.com/msp/ | 3% |
MSP Investor, Private Equity Firm One Equity Partners Raises $2.75Bhttps://www.channele2e.com/news/msp-investor-private-equity-firm-one-equity-partners-raises-2-75b | 3% |
MSP ITS Acquired By Private Equity Firm Tower Arch Capital | CRNhttps://www.crn.com/news/managed-services/msp-its-acquired-by-private-equity-firm-tower-arch-capital | 2% |
Private Equity and MSP Software Acquisitions: Who's Next? - | news | ChannelE2Ehttps://www.channele2e.com/news/msp-software-acquisitions-whos-next | 2% |
 Evergreen Services Group: New deal to up MSP revenue to $40Mhttps://www.evergreensg.com/evergreen-services-group-new-deal-up-msp-revenue-40m/ | 2% |
 IT Services/MSPhttps://forbes-partners.com/it-services-msp/ | 2% |
 M&A Update: Managed Services Providers (MSPs) and ... - Solganickhttps://solganick.com/msp-mssp-mergers-acquisitions-report-2025/ | 2% |
Yes. The MSP market has become a major private-equity buy-and-build category. If by “specific focus” you mean firms that have **established an MSP platform and are actively acquiring additional MSPs**, rather than PE firms that merely have IT services somewhere in their portfolio, the following are among the clearest…
Yes. The MSP market has become a major private-equity buy-and-build category. If by “specific focus” you mean firms that have established an MSP platform and are actively acquiring additional MSPs, rather than PE firms that merely have IT services somewhere in their portfolio, the following are among the clearest examples as of 2026.
| PE firm / sponsor | MSP platform(s) | What they're doing |
|---|---|---|
| Alpine Investors | Evergreen Services Group, including Lyra, Pine Services Group and Cedar Solutions Group | One of the largest dedicated MSP consolidators; Evergreen has surpassed 100 acquisitions and continues pursuing MSP add-ons. Alexej Pikovsky CT Acquisitions |
| Court Square Capital Partners + Berkshire Partners | Thrive Networks | Large IT/MSP platform pursuing a nationwide consolidation strategy; reported at roughly 26 acquisitions in 2026. Alexej Pikovsky CT Acquisitions |
| Oval Partners | New Charter Technologies | Dedicated MSP/technology-services platform with roughly 30+ acquisitions and continued acquisition activity. Alexej Pikovsky Gui Carlos, CFA |
| PSP Capital / PSP Partners | Ntiva / MSP Global Holdings | Active MSP consolidator; acquisitions have included The Purple Guys and Site Tech Services. Gui Carlos, CFA |
| OMERS Private Equity | Integris | PE-backed MSP platform pursuing additional managed IT acquisitions. CT Acquisitions |
| Norwest Equity Partners | Coretelligent | IT/MSP platform with an acquisition-oriented strategy. CT Acquisitions |
| AEA Investors | Magna5 | Managed IT/network services platform; AEA became majority sponsor in 2026 and the platform continues consolidation. CT Acquisitions |
| Tenex Capital Management | Network Coverage | MSP platform specifically acquiring managed IT providers, with an emphasis on cybersecurity/cloud and mid-market customers. Gui Carlos, CFA |
| Agellus Capital | CompassMSP / BlackPoint IT | Building a managed IT/cybersecurity platform through MSP acquisitions, particularly companies serving regulated industries. Gui Carlos, CFA |
| ZBS Partners / Thrive Holdings | Shield Technology Partners | Newer MSP consolidator; has already acquired multiple MSPs and is explicitly structured around partnering with MSP founders. Gui Carlos, CFA |
| **M | C Partners** | DivergeIT |
| Niobrara Capital | MSP Corp | Acquired Canadian MSP Corp in September 2026 as a platform for expansion across the fragmented North American managed IT market. NIOBRARA CAPITAL |
| AYCE Capital | AYCE USA / MSP platform | Explicitly targets U.S. MSPs and says it is actively pursuing acquisitions across the Northeast and Midwest. AYCE Capital |
If you're asking because you're an MSP owner considering a sale, I'd distinguish between three types of buyers:
There are many more than these: one 2026 industry tracker identifies 75+ PE-backed MSP platforms actively acquiring in the U.S.
If you're looking for a buyer universe for an actual MSP transaction, I can also give you a more useful list of 20–30 PE firms/platforms, including typical revenue/EBITDA targets, geography, whether they buy majority or minority stakes, and recent MSP acquisitions.
AYCE USA
Private equity (PE) firms are actively executing a "buy-and-build" roll-up strategy within the managed service provider (MSP) and managed security service provider (MSSP) markets . Rather than operating as generalists, several dedicated sponsors and platform-builders focus heavily on acquiring, scaling, and…
Private equity (PE) firms are actively executing a "buy-and-build" roll-up strategy within the managed service provider (MSP) and managed security service provider (MSSP) markets . Rather than operating as generalists, several dedicated sponsors and platform-builders focus heavily on acquiring, scaling, and consolidating fragmented MSPs.
The key private equity firms and PE-backed platforms targeting MSP acquisitions include:
Are you looking at this from the perspective of a founder/owner wanting to position an MSP for a recapitalization or acquisition , or are you researching investment trends and market consolidation?
Centroid
Yes. The MSP market has attracted a fairly distinct group of private-equity sponsors that use **buy-and-build strategies**: they acquire an MSP as a platform and then make repeated tuck-in acquisitions of other managed IT, cybersecurity, cloud, and related providers. Recent industry research describes PE-backed…
Yes. The MSP market has attracted a fairly distinct group of private-equity sponsors that use buy-and-build strategies: they acquire an MSP as a platform and then make repeated tuck-in acquisitions of other managed IT, cybersecurity, cloud, and related providers. Recent industry research describes PE-backed platforms as accounting for a substantial share of MSP M&A.
| PE firm | MSP platform(s) | Evidence of MSP focus |
|---|---|---|
| Alpine Investors | Evergreen Services Group / Lyra Technology Group | One of the clearest dedicated MSP strategies. Evergreen is Alpine's managed-IT-services platform; it completed 47 transactions in 2025, including its 100th MSP acquisition. Alpine's investment criteria specifically identify managed IT services and recurring revenue as targets. Alpine Investors Alpine Investors |
| **M | C Partners** | Thrive / DivergeIT |
| Oval Partners | New Charter Technologies | New Charter is an MSP consolidation platform backed by Oval. Oval's team explicitly identifies executing add-on acquisitions for New Charter, alongside its other technology-services platform, Flex Technology Group. Oval Partners |
| Court Square Capital Partners | Thrive Networks | Court Square's investment in Thrive is centered on a technology managed-services company, with continued geographic expansion and acquisitions explicitly part of the growth plan. Court Square |
| AEA Investors | Magna5 | AEA made a majority investment in Magna5 in 2026. Magna5 is a national MSP providing managed IT, cybersecurity and cloud services, and AEA says the investment is intended to scale the platform and expand its capabilities. AEA Investors AEA Investors |
| OMERS Private Equity | Integris | OMERS acquired a majority stake in Integris in 2024 and explicitly described the deal as its entry into the IT managed-services-provider space. Integris provides outsourced IT, cloud and cybersecurity services to SMBs. OMERS |
| The Riverside Company | ProVelocity / IronEdge | Riverside created an MSP platform by combining ProVelocity and IronEdge and subsequently acquired MSPs including LightHouse and LANstar as add-ons. The Riverside Company The Riverside Company The Riverside Company |
| Agellus Capital | CompassMSP | Agellus-backed CompassMSP is pursuing a nationwide MSP consolidation strategy, with particular interest in cybersecurity and regulated-industry MSPs. Gui Carlos, CFA |
| Norwest Equity Partners | Coretelligent | Coretelligent is a PE-backed managed IT-services platform that has been pursuing acquisitions in the MSP/IT-services market. Industry transaction research identifies NEP/Coretelligent among the active MSP platforms. CT Acquisitions |
| PSP Capital | Ntiva | PSP-backed Ntiva is another established managed-IT-services platform pursuing add-on acquisitions. It is included among the active PE-backed MSP acquirers in current industry tracking. CT Acquisitions |
If you're looking at this from the perspective of an MSP owner seeking an acquirer, I'd separate these into three groups:
The distinction matters: the platform company is often the actual buyer of the MSP, while the PE firm supplies the capital and owns the platform. So an MSP seller generally wants to identify both the sponsor and the specific platform's acquisition team.
If you're asking because you own an MSP and are looking for likely buyers, I can also build you a more useful 2026 buyer list of ~20–30 PE-backed MSP acquirers, including target revenue/EBITDA, geography, typical deal size, platform vs. add-on preference, cybersecurity/vertical preferences, and whether they retain founders/management.
Private equity (PE) firms have aggressively targeted Managed Service Providers (MSPs) and managed security service providers (MSSPs) to build national platforms through aggressive "roll-up" (add-on acquisition) strategies . Rather than a single fund with a solitary focus, several prominent middle-market and…
Private equity (PE) firms have aggressively targeted Managed Service Providers (MSPs) and managed security service providers (MSSPs) to build national platforms through aggressive "roll-up" (add-on acquisition) strategies . Rather than a single fund with a solitary focus, several prominent middle-market and tech-focused PE firms routinely back primary MSP platforms or specialize in the IT channel:
Would you like to explore:
Let me know how you'd like to proceed.
The most MSP-focused PE sponsors currently include: - **Alpine Investors** — Evergreen Services Group; 100+ MSP acquisitions. - **Oval Partners** — New Charter Technologies; ~32 acquisitions.
The most MSP-focused PE sponsors currently include:
For a founder looking to sell an MSP, I’d prioritize Alpine/Evergreen, Oval/New Charter, Thrive, PSP/Ntiva, Agellus/CompassMSP, and OMERS/Integris because they have particularly clear, ongoing buy-and-build strategies.
Centroid
Anatomy IT
Private equity (PE) firms have aggressively targeted Managed Service Providers (MSPs) as part of a massive "buy-and-build" roll-up strategy. Sponsors are drawn to MSPs because of their sticky, recurring revenue models, high customer switching friction, and the fragmentation of regional, founder-led operators that can…
Private equity (PE) firms have aggressively targeted Managed Service Providers (MSPs) as part of a massive "buy-and-build" roll-up strategy. Sponsors are drawn to MSPs because of their sticky, recurring revenue models, high customer switching friction, and the fragmentation of regional, founder-led operators that can be consolidated into larger platforms.
The primary private equity firms and PE-backed platforms known for a specific focus on acquiring MSPs include:
Would you like to explore typical valuation multiples (EBITDA) that these PE firms pay for MSP platforms versus smaller add-on targets, or are you evaluating strategies for a specific MSP business?
Private equity interest in managed service providers (MSPs) has become a major consolidation theme. The firms below are among the most active investors or sponsors behind MSP-focused platforms and roll-ups. [Alexej Pikovsky](https://alexejpikovsky.com/private-equity-firms-buying-msps/?utm_source=chatgpt.com) [CT…
Private equity interest in managed service providers (MSPs) has become a major consolidation theme. The firms below are among the most active investors or sponsors behind MSP-focused platforms and roll-ups.
| Private equity firm / investor | MSP platform(s) / approach | Notes |
|---|---|---|
| Alpine Investors | Evergreen Services Group (including Lyra Technology Group, Pine Services Group, Cedar Solutions Group) | One of the most aggressive MSP consolidators; focuses heavily on founder-led MSP acquisitions and long-term platform building. Alexej Pikovsky CT Acquisitions |
| Oval Partners | New Charter Technologies | Built a national MSP platform through repeated acquisitions, typically partnering with MSP founders. Alexej Pikovsky CT Acquisitions |
| Court Square Capital Partners | Thrive Networks (with Berkshire Partners) | Invests behind a scaled MSP/MSSP platform with a security and managed services focus. CT Acquisitions Salt Creek Advisory |
| Berkshire Partners | Thrive Networks (with Court Square) | Co-investor in one of the larger MSP consolidation platforms. CT Acquisitions |
| PSP Capital | Ntiva | Backed a large managed IT services platform pursuing add-on acquisitions. CT Acquisitions Salt Creek Advisory |
| Norwest Equity Partners | Coretelligent | Focused on enterprise-focused managed IT, cloud, and cybersecurity services. CT Acquisitions |
| AEA Investors | Magna5 | Invested in a managed IT, cloud communications, and cybersecurity services platform. CT Acquisitions |
| OMERS Private Equity | Integris | Backed MSP consolidation across managed IT and cybersecurity services. CT Acquisitions |
| Agellus Capital | CompassMSP | MSP-focused platform acquiring IT service providers, especially those with cybersecurity and compliance capabilities. Gui Carlos, CFA |
| Cloud Equity Group | BrightWorks IT and related IT services investments | Known for investing in recurring-revenue technology services businesses, including MSPs. Alexej Pikovsky |
| Recognize | Blue Mantis and other IT services investments | Technology services investor with MSP and cybersecurity exposure. Ad Astra Equity |
| FFL Partners | Abacus Group / Medicus IT combination | Invested in specialized managed IT services platforms. Ad Astra Equity |
| Transom Capital Group | Secur-Serv | Invested in IT infrastructure and managed services consolidation. Ad Astra Equity |
If you are an MSP owner evaluating a sale, the most directly relevant names are generally:
Most PE-backed MSP buyers prioritize:
The market is largely driven by buy-and-build strategies: acquire a platform MSP, then add smaller MSPs to expand geography, talent, customers, and capabilities.
If useful, I can also provide a ranked list of MSP acquirers by acquisition volume, typical EBITDA/revenue thresholds, or which PE firms are actively buying MSPs in the U.S. vs. Europe.
`Private equity (PE) firms` have aggressively targeted **Managed Service Providers (MSPs)** and **Managed Security Service Providers (MSSPs)** to capitalize on predictable recurring revenues, fragmented market ownership, and high demand for outsourced IT and cloud/cybersecurity…
Private equity (PE) firms have aggressively targeted Managed Service Providers (MSPs) and Managed Security Service Providers (MSSPs) to capitalize on predictable recurring revenues, fragmented market ownership, and high demand for outsourced IT and cloud/cybersecurity management.
While many broad technology-focused PE giants invest heavily in the software ecosystem that MSPs use (such as Thoma Bravo 's famous acquisitions of ConnectWise and Continuum), a distinct group of lower-middle-market and tech-services-focused PE firms actively builds "platforms" by acquiring and rolling up MSPs.
Prominent private equity firms and sponsor-backed platforms with a specific focus on acquiring and consolidating MSPs include:
Would you like to explore valuation multiples (EBITDA) for MSP acquisitions, or are you looking to understand what PE firms look for in a platform candidate versus an add-on?
Yes. If by “specific focus” you mean **private equity sponsors that have deliberately built MSP/managed-IT platforms and are actively pursuing add-on acquisitions**, there is a fairly identifiable group. The market is much more concentrated than a generic “PE firms that invest in technology” list would suggest. ###…
Yes. If by “specific focus” you mean private equity sponsors that have deliberately built MSP/managed-IT platforms and are actively pursuing add-on acquisitions, there is a fairly identifiable group. The market is much more concentrated than a generic “PE firms that invest in technology” list would suggest.
| PE firm / sponsor | MSP platform | Focus / activity |
|---|---|---|
| Alpine Investors | Evergreen Services Group | Probably the clearest example. Evergreen is Alpine's managed-IT platform and has pursued an aggressive buy-and-build strategy. Alpine says Evergreen closed 47 transactions in 2025, including its 100th MSP acquisition since inception. Alpine Investors Alpine Investors |
| Court Square Capital + Berkshire Partners | Thrive Networks | Major national MSP/managed-services consolidator, pursuing both platform and add-on acquisitions. |
| Oval Partners | New Charter Technologies | Dedicated IT-services/MSP investment platform with an active acquisition program. Oval specifically highlights New Charter's add-on acquisition activity. Oval Partners |
| PSP Capital | Ntiva / MSP Global Holdings | Focused on building a scaled managed-services business through acquisitions. Ntiva has acquired multiple MSPs, including The Purple Guys and Site Tech Services. |
| AEA Investors | Magna5 | AEA made a majority investment in Magna5 in February 2026. Magna5 is a national MSP providing managed IT, cybersecurity and cloud services, with 1,700+ customers. AEA Investors AEA Investors |
| Norwest Equity Partners (NEP) | Coretelligent | Strong IT-services/MSP thesis. Coretelligent has made multiple MSP/IT-services acquisitions under NEP, including NetCom, Advanced Network Products and Chateaux. Norwest Equity Partners Norwest Equity Partners |
| OMERS Private Equity | Integris | Built around managed IT services and cybersecurity, with an active acquisition strategy. |
| Agellus Capital | CompassMSP | Acquired Compass in 2024 and explicitly says the company is actively pursuing add-on acquisitions. Agellus Capital |
| Cloud Equity Group | BrightWorks IT | PE-backed managed-services platform pursuing a decentralized acquisition model. |
| The Riverside Company | IronEdge | MSP/IT-services platform with a history of acquiring regional MSPs. |
| Goldner Hawn | Cyber Advisors | Cybersecurity/managed-services platform with multiple MSP acquisitions. |
| Tecum Capital / Columbia River Partners | Custom Computer Specialists | Long-running managed IT/technology-services consolidation strategy. |
The broader market data supports how specialized this buyer universe has become: one recent 2026 analysis identified 169 disclosed MSP M&A transactions in 2025, with PE involved in roughly 69% of them.
I'd put the buyers into three tiers:
Tier 1 — Dedicated, highly acquisitive MSP consolidators
These are the names I'd contact first if the objective is maximizing the probability of a strategic MSP acquisition.
Tier 2 — PE sponsors with a serious MSP platform
Tier 3 — Broader IT-services PE investors
There are considerably more of these, but they aren't necessarily MSP specialists. For an MSP owner, I'd distinguish them because a generalist PE firm may be interested in your EBITDA, while an MSP consolidator can underwrite the recurring revenue, customer base, service desk, cybersecurity stack and geographic/vertical synergies much more aggressively.
The PE firm itself often isn't the direct buyer. In many cases, the sponsor owns an MSP platform, and that platform makes the acquisition.
For example:
Alpine Investors → Evergreen Services Group → acquisition of individual MSP That matters because if you're approaching buyers, searching for “PE firms interested in MSPs” will miss a lot of the actual corporate-development teams making offers.
If you're evaluating this from the perspective of an MSP owner, I can also give you a much more useful list of 20–30 active MSP acquirers, including estimated revenue/EBITDA sweet spots, geography, typical deal structure, whether founders retain equity, and the most recent acquisitions.
Chateaux
Private equity (PE) interest in Managed Service Providers (MSPs) and Managed Security Service Providers (MSSPs) has surged dramatically. Driven by predictable recurring revenue, fragmented market ownership, and substantial cross-selling opportunities, PE firms utilize a "buy-and-build" (roll-up) strategy—acquiring a…
Private equity (PE) interest in Managed Service Providers (MSPs) and Managed Security Service Providers (MSSPs) has surged dramatically. Driven by predictable recurring revenue, fragmented market ownership, and substantial cross-selling opportunities, PE firms utilize a "buy-and-build" (roll-up) strategy—acquiring a larger "platform" MSP and merging smaller regional tuck-in acquisitions into it.
While major generalist tech funds frequently invest in this space, several prominent private equity and specialized growth firms have a pronounced, highly active focus on the MSP and IT-enabled services ecosystem:
If you are evaluating an MSP for a potential transaction or looking into market consolidation data, let me know:
I can provide more targeted details.
