Earlier this week, MSP holding company Evergreen hosted their second annual event, Elevate, in Chicago, Illinois. Attendance more than tripled from last year’s inaugural event, with MSPs from across the country gathering for a day focused on increasing business value and understanding current market dynamics.
The surge in attendance reflects a broader trend across the MSP space: operators are actively seeking clarity on where the market is headed and how to position their business for long-term success. With consolidation continuing across the industry, events like this highlight how top operators are thinking about growth, exit strategies, and future positioning.
Here’s what you missed.
The Current State of M&A
The event kicked off with insights on the current M&A market from Sydney Hockett, Evergreen’s VP of M&A.
“If I had to pick one word to describe the state of M&A and the MSP space right now, it would be busy. It’s the busiest it’s ever been. There are the most buyers, the most transactions happening, and the most money flying around that we’ve ever seen,” Hockett said.
“It’s a seller’s market,” she added later in an interview with MSP Success. “There’s probably the highest volume of buyers that we’ve seen.” The key takeaway is timing and optionality: strong demand means more opportunities, but not necessarily urgency to sell. As Hockett noted, there is no shortage of buyers for those who want to enter the market, giving MSP owners the ability to be more selective and strategic about if and when they pursue a deal.
It also reinforces the importance of building a business that is “sellable” long before a transaction is on the table. MSPs that invest early in operational maturity, documentation, and scalable processes are better positioned to capitalize when opportunities arise.
What to Look for in a Potential Buyer
Hockett shared practical guidance for MSP owners navigating the sales process. “There are a million different versions of acquirers, offers, good structures, [and] people you can sell to—and buyers are always going to tell you what you want to hear, to some extent,” she said. “I think you should choose to partner with someone that is honest with you and upfront about the good, bad, and ugly, but you also have to do your due diligence yourself.”
Here are a few areas Hockett recommends MSPs should spend time evaluating when looking to sell:
- The buyer’s structure and operating model
- What selling to a roll-up means for employees and customers
- Personal post-sale goals and how the deal supports them
- Whether the buyer has committed capital or needs to raise funds
- Feedback from previous sellers, including unexpected challenges
Don’t Only Focus on the Financial
Beyond these factors, MSPs should also think critically about alignment. A deal structure may not look attractive on paper, but long-term success often hinges on how well the buyer’s operating approach matches the seller’s expectations. Culture, decision-making autonomy, and growth strategy can all have a significant impact after the transaction closes.
In practice, this means MSP business owners should focus on more than just financial terms and evaluate how decisions will be made post-sale, what level of autonomy they will retain, and how success will be measured. Misalignment in these areas is often where deals that appear strong upfront, break down over time.
“Every single person has different experiences. I would [talk to] a minimum of three people to understand what their experiences have been like. Ask those questions; if the buyer doesn’t want you to talk to any references, that should be a red flag,” she said.
This emphasis on reference-checking highlights a broader shift in the market: with more transactions happening, MSP owners have greater access to real-world insights from peers. Taking advantage of that transparency can help avoid costly misalignment after the deal is done.
As the M&A market continues to accelerate, MSP owners are being presented with more opportunity, and more complexity, than ever before. The abundance of buyers creates leverage, but it also raises the stakes for making the right long-term decision. Those who approach the process with clarity around their goals, a strong operational foundation, and a commitment to thorough diligence will be best positioned to capitalize on current market conditions. Ultimately, success in today’s environment isn’t just about closing a deal—it’s about choosing the right partner to support the next phase of growth.
For more on ensuring any M&A deals go off without a hitch, learn why a culture match is so critical to M&A happiness.
