RWK Goodman advises shareholders of Accesspoint Group Holdings on sale of entire issued share capital of company to iomart Group plc
RWK Goodman’s corporate team has advised the founder shareholders of Accesspoint Group Holdings Limited in relation to the sale of their shares to iomart Group plc, an IT and cloud computing company which provides managed services from data centres and offices across the United Kingdom.
The Accesspoint group includes Accesspoint Technologies Limited, a provider of managed and hosted services to the legal sector including infrastructure hosting, software licensing, security management, business continuity services and communications provisioning.
The initial consideration for the acquisition is £4.5m paid in cash on completion on a debt and cash free basis, with a potential further £0.5m in cash payable on the achievement of certain post-acquisition milestones. The acquisition also includes up to a further £1.4m contingent earn-out payment based on the profitability of Accesspoint for the 12 months ending 31 August 2024.
The RWK Goodman team was led by corporate partner Paul Webb and included James Worrall, Michelle Waligóra and Hector Freyne (corporate), Carl Selby (commercial), Holly Freuchen (employment), and Giles Littlewood (real estate).
Iomart Group plc was represented by Pinsent Masons LLP.