The company also announced a delay to the publication of its full-year results and a significant non-cash impairment charge.

The new funding agreement, extending to June 2027, has been arranged with iomart’s existing lenders – The Royal Bank of Scotland plc, HSBC UK Bank plc, and Clydesdale Bank plc (trading as Virgin Money). The terms of the facility are expected to lower interest costs as the company reduces its debt.

This financial restructuring follows a period of significant change for the group, which recently announced a rebranding to Atech. Chief executive Lucy Dimes departed on 30 May, with chairman Richard Last assuming the role of executive chair.

The company’s annual results, originally scheduled for this month, have been postponed until late July. While iomart confirmed that trading remains in line with its last update on 23 April, the forthcoming results will include a substantial non-cash goodwill impairment charge.

This charge is related to the iomart Cloud Services division and is expected to be around two-thirds of its £83.1m goodwill value. The company stated the write-down reflects a strategic shift away from legacy products and an acceleration in customer churn in certain areas. This accounting measure will not impact the group’s operational performance or cash flows.

Scott Cunningham, iomart CFO, said: “We are delighted to announce the completion of this refinancing, which provides iomart with flexibility and supports the execution of our growth strategy.

“We appreciate the continued support of our lending partners, reflecting their confidence in the strength and resilience of our business.”