Iomart moves Dimes to executive chair amid M&A

Lucy Dimes

Glasgow-based cloud computing firm Iomart Group announced that non-executive chair Lucy Dimes will, from July 17, assume the role of executive chair “on a part-time basis, with a focus on the further development of external facing corporate opportunities, alongside the executive directors.”

The company said last month it would continue “making selective acquisitions.”

Iomart said on Monday: “The additional executive resource and experience will provide greater capacity for Iomart to take full advantage of the varied and wide opportunities which exist within the IT Cloud marketplace.

The company confirms that trading remains in line with board expectations.”

On June 13, Iomart said its revenue increased 12% to a record £115.6 million in the year to March 31, 2023, “reflecting a combination of improved customer renewal levels, organic revenue growth within core cloud managed services, inflationary pricing adjustments  … together with the acquisition of Concepta …”

Iomart CEO Reece Donovan said on June 13: “This has been another busy year at Iomart for the full team. 

“Together, we have generated good momentum across both the commercial and operational areas.

“A higher level of M&A activity has also been pleasing to see, with two acquisitions having been completed in the last ten months.

These acquisitions have expanded our capabilities and routes to market, making our solution portfolio relevant to a wider audience.

“The increase in the effectiveness of our sales activities, the operational improvements made, the resilience of our business model and our clear focus on execution gives us a stronger foundation on which to accelerate organic growth whilst making selective acquisitions.”

Iomart’s website describes chair Dimes thus: “Lucy has operated in senior executive positions in FTSE 100, FTSE 250 and private equity-owned companies spanning telecoms, technology, business services and financial services.

“She has more than 30 years’ experience in complex, highly regulated international markets with a particular focus on product innovation, market entry, scaling for growth and expansion, and transformation (especially digital transformation).

“She’s passionate about technology, customer experience, diversity and sustainability.

“Lucy also sits on the board of Babcock International Group plc and is an advisor to the automation and AI specialist software developer Intelygenz S.A.”