Claritas Tax advise Pelican Capital on their successful sale of Atech Cloud

Claritas are delighted to have advised Pelican Capital on the sale of one of their portfolio investments, Atech Cloud, to iomart for £57m.

Atech, a leading cloud service provider, has grown rapidly since Pelican’s investment in 2022 and its acquisition will bolster iomart’s cloud capabilities and strengthen their management team.

Adam Keates, Associate Partner at Claritas: “We advised Pelican on their investment into Atech in 2022 and have remained involved in advising on the group’s tax affairs throughout the life of the investment. It’s extremely rewarding to support them on another successful exit which sees a 3.2x return for their investors within three years and adds to their already impressive and growing track record.”

Richard Morrison, Partner at Pelican: “We’re hugely grateful to Claritas for their support on the disposal of our investment in Atech. Their advice was pragmatic and commercially focused and they worked collaboratively with other stakeholders to navigate and resolve complex tax matters. Claritas’ involvement contributed significantly towards completion of this successful exit.”