10. Atech acquired by imoart
Revenues of acquired company: £32m
Month: October
Rationale
Marlow-based Atech has a “reputation for excellence in Microsoft solutions”, iomart CEO Lucy Dimes said in October as she explained the decision to acquire it for an enterprise value £57m.
The exit generated a 3.2 gross return for Pelican Capital, which grew Atech via four acquisitions after investing in 2022.
Atech’s revenues hit £32.2m in the 12 months to 30 June 2024.
What happened next?
Dimes talked up Atech once again as she unveiled flat interim results in November (revenues were steady at £62m while adjusted EBTIDA fell 9% to £17m).
iomart’s mission is to become “the UK’s leading secure hybrid cloud provider”, she said.
“Through the combined power of Atech and iomart, we now have the accreditations, credentials and capabilities to convert a greater proportion of our sales pipeline, as well as unlock increased cross-sale opportunities,” she added.
See next page for 9 bigger deals…
