iomart Group plc (AIM:IOM) acquired Atech Support Limited from Pelican Capital LLP and others for £57 million on October 1, 2024. Acquisition is being fully funded through existing cash and the newly increased £125 million revolving credit bank facilities. Atech CEO Ryan Langley joining iomart as Group CTO. For the period ending June 30, 2024, Atech Support Limited reported total revenue of £32.2 million and EBITDA of £3.3 million. The largest shareholder of Atech Support is Pelican Capital with 54% of all the issued share capital, with two of the original founders having 30% between them. The balance is held between the management team who will remain with the business. Investec Bank plc acted as financial advisor for iomart Group plc.

iomart Group plc (AIM:IOM) completed the acquisition of Atech Support Limited from Pelican Capital LLP and others on October 1, 2024. John Farrugia, Tom Stoten, Paris McNicol-Outch of Cavendish Capital Markets Limited acted as financial advisors to Pelican Capital LLP in the transaction.