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KYCO: Know Your Company

Reveal Profile

17 December 2025

1) Overview of the Company

DKBinnovative is a Frisco, Texas-based managed IT services and cybersecurity provider established in 2004 by founder Keith Barthold. The company operates as an award-winning IT consulting and support firm serving small to medium-sized businesses across Texas and beyond, with a particular focus on healthcare, professional services, engineering, and manufacturing sectors. DKBinnovative maintains offices in Frisco, Plano, and Irving, Texas, serving over 2,632 end users across more than 55 companies with a team of 51-200 employees.

The company specializes in managed IT services, cybersecurity solutions, cloud computing, help desk support, network security, and HIPAA compliance services. DKBinnovative holds Microsoft Silver Partner certification and serves as an Azure solutions provider, demonstrating its technical capabilities in cloud infrastructure and enterprise software solutions. The firm has achieved recognition as an Inc. 5000-ranked fastest-growing company and maintains a 98.14% customer satisfaction rate with an average client retention of 4.5 years.

In June 2024, DKBinnovative was acquired by Lyra Technology Group, a portfolio company of Evergreen Services Group, marking a significant ownership transition. Following the acquisition, founder Keith Barthold transitioned to chairman while Mike Walsh was promoted from Chief Operating Officer to Chief Executive Officer in October 2024.

DKBinnovative operates with a proactive IT management approach, offering 24/7 monitoring through its Security Operations Center and maintains specialized expertise in cybersecurity frameworks including ISO/IEC 42001 for AI management systems. The company has developed partnerships with technology providers and maintains a focus on compliance-ready frameworks for regulated industries, positioning itself as a strategic technology partner rather than a traditional IT vendor.

2) History

DKBinnovative was founded in 2004 by Keith Barthold in Frisco, Texas, as a managed IT services and cybersecurity firm targeting small and medium-sized businesses. Barthold’s background included over 10 years at Perot Systems/Dell Services, where he managed a $20 million application portfolio and led infrastructure transformation projects for major healthcare acquisitions.

The company achieved early recognition for its growth trajectory, earning placement on the Inc. 5000 list of fastest-growing private companies in America for seven consecutive years through 2023. In 2023, DKBinnovative ranked #3994 nationally and #179 in Texas with three-year revenue growth of 115%, maintaining its position among the nation’s most rapidly expanding private companies. The firm also secured recognition on industry-specific rankings including the MSPmentor 501 list of top global managed services providers and the MSSP Alert 250 as a leading worldwide security provider.

A significant transformation occurred in June 2024 when Lyra Technology Group, a portfolio company of Evergreen Services Group, acquired DKBinnovative. The acquisition marked a strategic shift in leadership, with founder Keith Barthold transitioning to chairman and Chris Scott, former founder and CEO of Netera Networks, being appointed as the new CEO. Scott brought experience from successfully founding and exiting Netera Networks and serving as CEO of a competing Dallas-Fort Worth area managed service provider.

However, this leadership structure proved temporary. In April 2024, Mike Walsh was promoted from Vice President of IT Operations to Chief Operating Officer, and in October 2024, Walsh was elevated to Chief Executive Officer, representing another significant executive transition within months of the acquisition. Walsh had served with the company for seven years in various leadership roles, bringing over 15 years of experience in IT service delivery and operations.

The acquisition by Evergreen represented DKBinnovative’s entry into what the company described as the largest managed service provider network globally, providing resources for enhanced capabilities while maintaining operational autonomy and cultural identity. This transition reflected broader industry consolidation trends as founder-led technology service companies sought permanent capital partners for long-term growth initiatives.

3) Key Executives

Mike Walsh serves as Chief Executive Officer of DKBinnovative, appointed in September 2024 after seven years of progressive leadership roles within the company. Walsh began his tenure as Director of Operations in February 2019, advanced to Vice President of IT Operations in June 2024, was promoted to Chief Operating Officer in April 2024, and ultimately elevated to CEO in October 2024. He brings over 15 years of leadership experience in IT service delivery and operations, with 20 years total in the information technology industry. Walsh holds a Bachelor of Science degree in Computer and Information Sciences and Support Services from DeVry University, earned between 1999 and 2002. Prior to joining DKBinnovative, he served as IT Business Analyst at World Education.net and Associate Director IT at NTT DATA Services, with previous experience as EMR Operations Manager at Dell Services from 2006 to 2018.

Peter Bertran holds the position of Chief Client Officer, appointed in July 2024 after joining the company as Vice President of Client Services in April 2024. Bertran brings over a decade of leadership experience in IT operations, service delivery, and infrastructure management to the executive team. Prior to joining DKBinnovative, he served as Vice President of Technology, where he led multi-site IT operations and infrastructure strategy for nearly a decade. His background includes strategic roles providing fractional CIO services and managing enterprise-scale IT implementations. Bertran’s professional experience includes serving as a former paramedic, which contributes to his calm-under-pressure approach when leading technical teams through complex challenges.

Candice Dickerson serves as Vice President of People and Administration, responsible for human resources and organizational development functions. Dickerson has been instrumental in DKBinnovative’s cultural alignment initiatives and was promoted to vice president level during the company’s leadership transitions in 2024. She plays a key role in employee development, talent management, and ensuring organizational values are embedded throughout the company’s operations.

Cory Schneider functions as vCIO and Director of IT Operations, bringing over 15 years of experience in technology strategy, cloud transformation, and cybersecurity resilience. Schneider joined DKBinnovative in January 2024 and has been instrumental in establishing the company’s first vCISO program, creating new service lines focused on governance, compliance, and security. He launched DKBinnovative’s AI advisory and implementation program, positioning the company as a forward-looking technology partner. Schneider holds AWS Certified SysOps Administrator and AWS Certified Solutions Architect certifications, along with CompTIA A+ certification.

Joshua Krugjohann serves in a vCTO capacity at DKBinnovative, bringing over 20 years of diverse experience in IT. He maintains multiple professional certifications including VTSP from VMware, NTSP and NSP from Nimble Storage, VMSP and VMTSP from Veeam Software, and CCNA from Cisco. Krugjohann also holds VCP6-DCV and VCP6-NV certifications from VMware and Silver Peak SDWAN Professional certification. He operates multiple consulting organizations including Krug Strategies LLC and Digital Vision IT Consulting.

4) Ownership

DKBinnovative underwent a significant ownership transformation in June 2024 when Lyra Technology Group, a portfolio company of Evergreen Services Group, acquired the company. This acquisition marked the end of DKBinnovative’s 20-year history as a founder-led organization and transitioned it into a permanent capital structure designed to support long-term growth while maintaining operational autonomy.

Prior to the acquisition, DKBinnovative was privately owned by founder Keith Barthold and business partner William Mays, who had built the company from its founding in 2004. The acquisition represented Evergreen’s strategy of providing permanent homes for founder-led businesses that prioritize customer and employee relationships, with no intention of future divestiture. Following the transaction, Barthold transitioned from CEO to chairman, while Mays moved to chairman emeritus, maintaining advisory roles within the organization.

The Evergreen Services Group ownership structure operates through its subsidiary Lyra Technology Group, which serves as a family of managed IT service providers that operate independently under their original brands and management teams. This approach allows DKBinnovative to retain its name, culture, and technology stack while gaining access to resources from over 60 businesses within the Lyra family. Evergreen’s model focuses on sustainable, healthy growth over the long term rather than traditional private equity exit strategies.

Under the new ownership structure, DKBinnovative joins what Evergreen describes as the largest managed service provider network globally, providing enhanced capabilities and resources while maintaining the company’s unique culture and client-focused approach. The acquisition enables DKBinnovative to access additional capital for growth initiatives, expanded service capabilities, and enhanced cybersecurity offerings while preserving the operational independence that has defined its success.

The ownership change coincided with leadership transitions, including the appointment of Chris Scott as CEO in June 2024, followed by Mike Walsh’s elevation to CEO in October 2024. These leadership changes reflect the new ownership’s commitment to building on DKBinnovative’s existing strengths while positioning the company for accelerated growth in the Texas managed services market.

5) Financial Position

DKBinnovative demonstrates solid financial fundamentals as a privately held managed services provider despite limited public financial disclosure typical of companies in its sector. Revenue estimates place the firm in the $10-25 million range, positioning it as a mid-sized player in the Dallas-Fort Worth metropolitan IT services market. The company maintains a workforce of 51-200 employees according to LinkedIn data, supporting over 2,632 end users across 55+ client organizations, indicating strong operational density and client relationship efficiency.

The company’s financial health is evidenced through its consistent recognition on prestigious industry rankings that evaluate performance metrics. DKBinnovative achieved its ninth consecutive placement on the Channel Partners MSP 501 list in 2025, ranking 158th among top-performing managed services providers globally. This ranking methodology specifically considers recurring revenue, revenue growth, EBITDA profitability, operational maturity, and service innovation, suggesting the company maintains strong financial performance across these critical metrics. The firm has also maintained placement on industry recognition lists including MSPmentor 501 and MSSP Alert 250 over multiple years.

Operational stability indicators demonstrate healthy business fundamentals through the company’s 98.14% customer satisfaction rate and average client retention period of 4.5 years. These metrics suggest predictable recurring revenue streams characteristic of successful managed services business models. The firm’s ability to maintain consistent service delivery is further supported by its average 3-minute response time and 78% first-call resolution rate, indicating operational efficiency that supports profitability.

DKBinnovative’s strategic positioning received validation through its acquisition by Lyra Technology Group in June 2024, reflecting strong market valuation and growth potential. The acquisition by Evergreen Services Group’s portfolio company indicates institutional investor confidence in the company’s financial trajectory and operational capabilities. Post-acquisition, the company benefits from enhanced capital resources while maintaining operational autonomy and its established culture.

Industry positioning metrics support the company’s financial strength through seven consecutive years of Inc. 5000 recognition for fastest-growing private companies, with 115% three-year revenue growth reported in 2023. This growth trajectory alongside maintained profitability indicators suggests effective business model execution and market expansion capabilities. The company’s Microsoft Silver Partner certification and specialized industry focus in healthcare, professional services, engineering, and manufacturing sectors provide differentiated revenue opportunities in higher-value market segments.

6) Market Position

DKBinnovative operates as a distinguished managed IT and cybersecurity provider within the highly fragmented North American MSP market, where thousands of providers compete for market share. The company maintains a competitive position through consistent industry recognition, ranking 158th on the 2025 Channel Partners MSP 501 list, marking its ninth consecutive year earning this prestigious recognition that evaluates providers based on recurring revenue, revenue growth, EBITDA profitability, operational maturity, and service innovation. DKBinnovative also secured placement on the 2025 Next Generation MSP List, which honors the industry’s most innovative, growth-focused providers based on above-average revenue growth from managed services, strategic vendor partnerships, and AI-powered solution delivery.

The company differentiates itself in the crowded Texas managed services market through specialized industry focus, particularly in healthcare, professional services, engineering, and manufacturing sectors that require enhanced compliance capabilities and security frameworks. DKBinnovative’s Microsoft Silver Partner certification and Azure solutions provider status position it advantageously against competitors lacking enterprise-grade cloud credentials. The firm’s comprehensive service portfolio spanning managed IT, cybersecurity, cloud computing, co-managed IT, consulting, and DevOps solutions enables it to compete effectively against both specialized point providers and larger national platforms.

DKBinnovative’s market positioning benefits from strong client retention metrics, maintaining a 98.14% customer satisfaction rate with an average client retention period of 4.5 years, indicating superior service delivery compared to industry averages. The company’s operational efficiency, demonstrated through a 78% first-call resolution rate and average 3-minute response times, provides competitive advantages in client acquisition and retention. Its geographic footprint across Frisco, Plano, and Irving, Texas, establishes strong regional market presence while serving over 2,632 end users across 55+ companies.

The firm competes within the global MSP market projected to reach $500 billion by 2030, with managed security services representing the fastest-growing segment due to escalating cyber threats and regulatory requirements. DKBinnovative’s proactive security approach utilizing AI-powered threat detection, 24/7 Security Operations Center monitoring, and compliance frameworks including HIPAA, SEC, CMMC, and NIST positions it favorably as cybersecurity becomes increasingly critical for client organizations. The company’s strategic partnerships with technology providers including Microsoft, SonicWall, Dell, HP, and Lenovo enhance its competitive positioning through access to enterprise-grade solutions and preferred vendor pricing.

DKBinnovative’s acquisition by Lyra Technology Group in June 2024 significantly strengthened its market position by providing access to resources from over 60 businesses within the Lyra family while maintaining operational autonomy and cultural identity. This affiliation creates competitive advantages through enhanced capabilities, expanded service offerings, and access to the largest managed service provider network globally while preserving the company’s client-focused approach that differentiates it from commodity providers.

7) Legal Claims and Actions

Based on available public records and regulatory databases, no significant legal claims, regulatory actions, or enforcement proceedings have been identified against DKBinnovative or its executives. Searches of SEC enforcement databases, FINRA disciplinary actions, federal court records, and state regulatory proceedings did not reveal any material litigation, regulatory sanctions, or compliance violations involving the company.

No employment-related litigation, discrimination claims, or workplace culture disputes appear in accessible court records or regulatory filings. Similarly, no bankruptcy filings, financial distress proceedings, or insolvency matters have been identified in federal or state court systems involving DKBinnovative or its subsidiaries.

The absence of documented legal and regulatory matters may reflect the company’s focus on compliance frameworks and risk management practices, particularly given its specialization in serving regulated industries including healthcare organizations subject to HIPAA requirements. DKBinnovative’s emphasis on cybersecurity compliance and adherence to industry standards such as NIST frameworks may contribute to its clean regulatory record.

However, the lack of publicly available legal proceedings should not be interpreted as definitive proof of the absence of all potential legal matters, as certain disputes may be resolved through confidential settlement agreements, arbitration proceedings, or other private resolution mechanisms that do not appear in public records.

8) Recent Media

Recent media coverage of DKBinnovative has been largely positive, centered on industry recognition, strategic executive changes, and thought leadership following its acquisition. The company’s performance was recognized in industry rankings, placing on the Channel Futures MSP 501 list and receiving consistent recognition for its growth and service quality.

The most significant event covered was the company’s June 2024 acquisition by Lyra Technology Group, an Evergreen portfolio company. Founder Keith Barthold publicly commented on the transaction, stating that Evergreen’s “radically different rollup strategy” and its model of keeping the company intact without dismantling its core values were key factors in the decision, contrasting it with the integration approaches of traditional private equity firms. The company has continued to receive industry accolades, including placement on the 2024 Channel Futures MSP 501 list and the 2024 MSSP Alert Top 250 list.

Following the ownership change, DKBinnovative has engaged in strategic content marketing. The company has published thought leadership articles analyzing cybersecurity incidents to illustrate the importance of proactive security measures and positioning itself as an expert in the space. Further industry recognition was received when DKBinnovative was named to the Next Generation MSP List, which highlights innovative and growth-oriented providers.

Executive appointments in 2024 also generated positive coverage. The promotions of Mike Walsh to Chief Operating Officer in April 2024 and Peter Bertran to Chief Client Officer in July 2024 were announced via press releases, positioning the appointments as strategic investments in operational leadership and client experience to support the company’s growth trajectory. Mike Walsh’s subsequent promotion to CEO in October 2024 was also covered positively, highlighting his seven years of progressive leadership within the company.

9) Strengths

Extensive Industry Experience and Proven Track Record

DKBinnovative demonstrates exceptional operational longevity with 20 years of continuous service since 2004, establishing the company as a seasoned provider in the managed IT and cybersecurity sector. This extensive experience translates into deep institutional knowledge and proven methodologies that support over 2,632 end users across 55+ companies throughout Texas. The company’s maturity is further validated through seven consecutive years of Inc. 5000 recognition for fastest-growing private companies, including 115% three-year revenue growth reported in 2023.

Outstanding Client Satisfaction and Retention Metrics

The company maintains industry-leading performance indicators with a 98.14% customer satisfaction rate and an average client retention period of 4.5 years, demonstrating exceptional service quality and long-term partnership value. These metrics are supported by operational excellence including a 78% first-call resolution rate and average 3-minute response times for support requests. DKBinnovative’s ability to resolve 40% fewer recurring IT issues through proactive monitoring demonstrates measurable value delivery to client organizations.

Comprehensive Industry Recognition and Certifications

DKBinnovative has achieved sustained recognition across multiple industry benchmarks, including nine consecutive years on the Channel Partners MSP 501 list, ranking 158th in 2025. The company earned placement on the 2025 Next Generation MSP List, highlighting its innovation and growth focus in AI-powered solution delivery. Microsoft Silver Partner certification and Azure solutions provider status provide technical credibility and preferential access to enterprise-grade cloud technologies.

Strategic Market Position Through Acquisition

The June 2024 acquisition by Lyra Technology Group, an Evergreen portfolio company, significantly strengthens DKBinnovative’s competitive position by providing access to resources from over 60 businesses within the Lyra family while maintaining operational autonomy. This affiliation creates a competitive advantage through enhanced capabilities and access to what Evergreen describes as the largest managed service provider network globally. The permanent capital structure enables long-term strategic planning without traditional private equity exit pressures.

Advanced Cybersecurity Capabilities and Compliance Expertise

DKBinnovative operates a 24/7 Security Operations Center with advanced AI-driven threat detection and response capabilities, positioning the company at the forefront of proactive cybersecurity services. The company’s expertise spans multiple compliance frameworks including HIPAA, SEC, CMMC, and NIST, enabling service to regulated industries with complex requirements. DKBinnovative’s Default-Deny security approach and automated penetration testing capabilities demonstrate sophisticated security methodologies beyond traditional managed services providers.

Geographic Advantage and Local Market Presence

The company’s strategic positioning across three Texas locations in Frisco, Plano, and Irving provides comprehensive coverage of the Dallas-Fort Worth metropolitan area, one of the nation’s largest and fastest-growing business markets. This geographic concentration enables efficient service delivery, on-site support capabilities, and deep relationships within the regional business community. DKBinnovative’s focus on small to medium-sized businesses in healthcare, professional services, engineering, and manufacturing sectors aligns with the region’s economic strengths.

Proactive Technology Innovation and AI Integration

DKBinnovative has established first-mover advantages in AI advisory and implementation services, positioning the company ahead of traditional MSPs in emerging technology adoption. The company’s vCISO program and comprehensive service portfolio spanning DevOps, cloud computing, and co-managed IT services demonstrate technical breadth beyond basic managed services. ISO/IEC 42001 expertise for AI management systems provides specialized capabilities in responsible AI governance, addressing increasingly critical client requirements.

Scalable Service Delivery Model

The company’s structured onboarding process delivers fully operational client environments within 15-20 days, demonstrating efficient operational processes and standardized service delivery methodologies. DKBinnovative’s ability to scale from serving 5 users to 130+ users for individual clients, as demonstrated in documented case studies, illustrates operational scalability and growth management capabilities. The company’s tiered service packages provide flexible engagement models that accommodate diverse client requirements and budget constraints.

10) Potential Risk Areas for Further Diligence

Recent Acquisition Integration Risks

DKBinnovative’s June 2024 acquisition by Lyra Technology Group introduces potential integration challenges and operational uncertainties that warrant ongoing monitoring. The company experienced significant leadership transitions within months of the acquisition, with Chris Scott initially appointed as CEO followed by Mike Walsh’s promotion to the role in October 2024. Such rapid executive changes during integration periods can create strategic discontinuity, communication gaps, and cultural misalignment. Due diligence should assess whether integration activities have disrupted service delivery, client relationships, or operational processes, and evaluate the effectiveness of change management protocols during this transitional period.

Key Person Dependency and Leadership Transition Risks

The company demonstrates significant dependence on key personnel, particularly in leadership roles, with founder Keith Barthold transitioning to chairman and new executives assuming critical operational responsibilities. Mike Walsh’s rapid progression from Vice President of IT Operations to CEO within months represents substantial organizational change that could impact strategic direction and operational continuity. Organizations should evaluate succession planning depth, knowledge transfer protocols, and the potential impact on service delivery if key technical or client relationship personnel depart during this period of leadership evolution.

Cybersecurity Service Provider Liability Exposure

As a cybersecurity services provider, DKBinnovative faces inherent professional liability risks related to client data protection, breach response effectiveness, and security incident management. The company’s 24/7 Security Operations Center operations and Default-Deny security approach create high client expectations for threat prevention and response capabilities. Due diligence should examine professional liability insurance coverage, incident response track records, client contract indemnification terms, and the company’s ability to maintain service levels during crisis situations or large-scale cyber incidents affecting multiple clients.

Client Concentration and Market Dependence Risks

DKBinnovative serves 55+ companies across the Dallas-Fort Worth region with a concentrated geographic footprint, creating potential exposure to regional economic downturns or industry-specific challenges. The company’s specialization in healthcare, professional services, engineering, and manufacturing sectors may create vulnerability to regulatory changes, economic pressures, or technology shifts affecting these industries. Organizations should assess client concentration by revenue, contract terms and renewal patterns, and the company’s ability to diversify its client base and service offerings to mitigate concentration risks.

Technology Infrastructure and Vendor Dependencies

The managed services model creates inherent dependencies on technology vendors, cloud platforms, and third-party security tools that could impact service delivery and client obligations. DKBinnovative’s Microsoft Silver Partner status and Azure specialization create specific vendor relationship dependencies that could affect service capabilities or cost structures. Due diligence should evaluate vendor relationship stability, technology stack diversity, backup service provider arrangements, and the company’s ability to maintain operations during vendor disruptions or contract changes.

Regulatory Compliance and Framework Evolution Risks

DKBinnovative operates in heavily regulated industries requiring compliance with HIPAA, SEC, CMMC, NIST, and other evolving cybersecurity frameworks. Regulatory changes, particularly in healthcare technology and defense contractor cybersecurity requirements, could necessitate significant operational adjustments, additional certifications, or enhanced service capabilities. Organizations should assess the company’s regulatory monitoring processes, compliance maintenance costs, and ability to adapt service offerings to meet changing regulatory requirements across multiple industry frameworks.

Operational Scalability and Resource Constraints

With 51-200 employees supporting over 2,632 end users across 55+ companies, DKBinnovative operates at significant scale that could strain operational resources during growth periods or crisis situations. The company’s 24/7 monitoring commitments, three-minute average response times, and high client satisfaction expectations create operational pressures that may become difficult to maintain during rapid expansion or staff shortages. Due diligence should evaluate workforce planning, training programs, technology automation capabilities, and the sustainability of current service level commitments during scaling scenarios.

Emerging Technology and AI Implementation Risks

DKBinnovative’s promotion of AI-powered security solutions and ISO/IEC 42001 AI management capabilities introduces implementation risks related to algorithm accuracy, bias prevention, and liability for automated decision-making. As clients increasingly rely on AI-enhanced security services, the company faces potential exposure from false positives, missed threats, or algorithmic discrimination issues. Organizations should assess AI governance frameworks, testing protocols, human oversight mechanisms, and insurance coverage for AI-related incidents or client damages.

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