MSP and cyber security - IT Professionals !

I'm drafting an investment thesis for DVG Partners on MSP's. I have an inbox folder full of broker and proprietary deals in this space of sub $10m rev businesses and I have to understand what opportunities are here. I'd love to understand from someone in the industry what organic growth looks like for these small businesses (cost to acquire new business). This is clearly a fragmented market in the LLM and highly competitive and relationship-based. What is this type of business's competitive advantage over the next guy that offers the same thing (age-old question in agnostic PE)? I've noticed some of the long-time players (small) are geographically very concentrated but I'd assume there'd be substantial value added to the business if we could take their systems "to-the-cloud" if you will and be competitive in other geo-markets. Otherwise, roll-up strategy? I know there are some firms out there that have done this or in the process of and I've not reached out to those folks yet. This is still a relatively early stage exploration for me. Feel like I've gone as far as I can with online research.

I can already tell I'm making broad-stroke assumptions and I'm not trying to stay too grounded to any one idea yet without confirmation, I want to kill this idea asap or move it forward. Would love to have a conversation with anyone willing to share their thoughts!