Wilson Partners advises the shareholders on the Sale of Atech Support Limited, a leading provider of Microsoft cloud and cyber solutions, to iomart Group plc., a cloud computing and IT managed service company, for an enterprise value of £57 million.
Deal overview
Wilson Partners Corporate Finance were delighted to act for the shareholders of Pelican backed Atech Support Ltd (“Atech”), one of the UK’s most highly accredited Microsoft Solutions Partners, on their sale to iomart Group plc, the secure cloud services company.
Pelican Capital invested in Atech in 2022 and since then the business has grown substantially, developing best-in-class cloud solutions and completing four acquisitions. The exit generates a gross return of 3.2 times money and 56% IRR for Pelican Capital.
The deal brings additional management strength, through the addition of Atech chief executive Ryan Langley to the iomart’s senior leadership team as group CTO, and who will continue to oversee the Atech business supported by his team.
Ryan Langley said: “The businesses share the same ambition, to be at the forefront of bringing the most in demand secure cloud offerings to our customers, enabling them to modernise their systems, harness the power of Microsoft AI capabilities, drive operational and process efficiencies, all with a secure by design approach.”
“With the increased operational strength of iomart supporting us, and continued strengthening of our Microsoft relationship, we are excited about what lies ahead.”
About the parties
Atech is a leading, rapidly growing, Microsoft Solutions Partner, delivering complex, multi-platform solutions, digital transformation and specialised managed security services to mid-sized enterprises. The company has one of the strongest sets of Microsoft credentials in the UK market, including five Solution Partner Designations, Managed Partner status for Modern Work and Security as well as membership of Microsoft’s Intelligent Security Association (‘MISA’). Based in Marlow, Buckinghamshire, and with offshore operations established in India and Poland, Atech has 150 people with a total of 128 different MS certifications.
iomart Group plc is a leading provider of cloud computing services, working with thousands of businesses across the UK. Its services include cloud hosting, managed services, and data protection.
Adam Wardle, Director at Wilson Partners commented: “It has been an absolute pleasure supporting the Atech team over the past few years and we remain truly impressed with Tim, Ryan, Russell and Tony (Atech’s Management team). Following the successful completion of four acquisitions, a multi million pound refinancing and now this transformational acquisition by iomart Group PLC, we are excited to see to see what the future holds for Atech and look forward to continuing to support them in furthering their brand and enterprise.”
Tim George, Co-founder of Atech commented: “Wilson Partners have supported Atech every step of the way over the past 3 years. From our initial debt raise and first acquisition, through to a Private Equity deal and 3 subsequent acquisitions, all culminating with the recent sale to iomart Group PLC. Throughout this time they have become a key partner, always remaining proactive and diligent, providing expert advice with a highly commercial approach. They have always made themselves available, and quite often above and beyond our initial engagement. Needless to say, without the support of Adam and Tom, and the wider Wilson team – we would not have been able to achieve this outcome. They have been invaluable and instrumental to the success of Atech”
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