Lyra Technology Group, an Evergreen Services Group Company, Announces an Investment in Direct IT Inc.
Boston, MA—Lyra Technology Group, a family of leading managed IT services providers backed by Evergreen Services Group, announced today that it has made an investment in Direct IT Corp. Direct IT is a leading provider of IT services to businesses in the Northeastern United States and North America. The company will continue to operate independently under its existing leadership team.
“David Javaheri has built a premier managed services business and we have long been inspired by his differentiated approach that delivers outsized results for clients” said Elliott Hyman, CEO of Lyra Technology Group. “We are excited to support Direct IT’s continued growth as part of the Lyra Technology Group family. David is a leader and visionary in the industry, and we admire his team’s deep commitment to excellence.”
“I had started a new approach to sales and marketing in mid-2020 that was really working, and we were growing at a very fast rate, but I wasn’t done, so it was important to me that any new partnership would allow me continue run the company and be in full control” said David Javaheri, Direct IT’s Founder & CEO. “The transaction with Lyra allowed me to stay focused on growing my business while keeping my promises to my clients and my employees.”
Lyra selected Direct IT for investment due to their industry-leading team, differentiated sales and marketing approach, and laser focus on understanding the nuances of their clients’ businesses. The company is headquartered in Boston, Massachusetts and provides its services to thousands of users across the region.
This investment will empower the Direct IT management team to expand its customer base, double down on growth initiatives, and continue to build on its marketing strategy. “We are incredibly grateful that Direct IT chose us as their partner as they embark on their next chapter. David and his team’s continuous pursuit of growth and innovation is unparalleled, and the results are evident in the business,” added Elliott Hyman.
Lyra continues to actively invest in leading managed services providers throughout the United States and Canada, where it can serve as a long-term capital partner and support future growth.
About Direct IT Corp.
Established in 2004, Direct IT provides complete solutions and support to clients across the Northeastern United States and North America. We developed our own proprietary small business network management and monitoring system, BlueBox, and continuously test new products to ensure we holistically support our clients with market-leading solutions. With our talented, experienced, and dedicated team, we help simplify enterprise-grade products and bank-level security to meet the needs of your business. For more information about Direct IT, visit www.directitcorp.com.
About Lyra Technology Group
Lyra Technology Group is a family of industry leading technology service businesses. Our companies are operated independently by exceptional management teams. Lyra is a constellation that includes some of the brightest stars in the northern hemisphere. Like stars in a constellation, we partner with companies that shine on their own and come together to form something even greater. Companies that join our group retain the employees, name, and culture that have made them successful. As a platform of Evergreen Services Group, we never divest from the businesses we partner with and approach every decision with the goal of driving sustainable and healthy growth over the long term. For more Lyra Services Group news and information, visit www.lyratechgroup.com.
About Evergreen Services Group
Evergreen Services Group is a holding company of leading service companies. Owners and founders of service businesses trust Evergreen to help them achieve their long-term goals and to steward their legacy. Evergreen differentiates itself by providing a permanent home for founder-led businesses that care deeply about their customers and employees. For more Evergreen Services Group news and information, visit www.evergreensg.com
Contacts
Lyra Technology Group
Elliott Hyman, 724-325-2900 x181
CEO
ehyman@lyratechgroup.com
Evergreen Services Group
Ramsey Sahyoun, 415-591-1318
Head of M&A
rsahyoun@evergreensg.com
