Wed, 12 Aug 2026 | BUSINESS SALE
IOM Consulting Limited, an occupational hygiene, laboratory and professional services consultancy, has been acquired out of administration by RCapital in a deal that secures 90 jobs and the independent future of the business.
Founded in 1990 as the commercial subsidiary of Edinburgh-based research charity the Institute of Occupational Medicine, IOM Consulting has built a reputation for independent measurement, testing, occupational hygiene consulting and expert opinion.
The company, which operates from offices in Edinburgh, Stafford and Chesterfield, works for law firms, rail infrastructure operators, NHS trusts and industrial clients across the UK.
After the Institute of Occupational Medicine faced a sustained fall in research and grant funding, as well as disruption linked to relocating its laboratories, trustees undertook a strategic review and concluded that the charity was no longer sustainable.
It was decided that securing an independent future for IOM Consulting would be in the best interests of the Institute of Occupational Medicine’s creditors. The Institute of Occupational Medicine was subsequently placed into administration, with Richard Bathgate and Graeme Bain of Johnston Carmichael LLP appointed as joint administrators on July 22 2026.
The joint administrators subsequently secured a sale of the business and assets of the Institute of Occupational Medicine, including IOM Consulting Limited, to RCapital. Following the sale, Martin Dorchester will step away from his role as CEO of the combined group, with Michelle Reid taking on the role of Managing Director at IOM Consulting.
Michelle Reid, Managing Director, IOM Consulting Limited, said: “Like many organisations across the UK, the Institute of Occupational Medicine had faced a challenging business environment in recent years. Throughout that time, its board has carefully considered a range of strategic options to secure the long-term future of its business, expertise and people.”
"The Institute of Occupational Medicine has been part of Scottish science since 1969 and the acquisition of IOM Consulting Limited by RCapital means that the valuable research, IOM brand, capabilities and knowledge available within the workforce is maintained.”
"This investment from RCapital provides a strong platform for the next evolution of IOM Consulting Limited. It will enable us to build on more than three decades of independent expertise, expand the support we provide to our clients and continue delivering practical solutions that improve health, protect people and strengthen organisational performance.”
RCapital Investment Director Sam Duberley commented: "IOM Consulting is a great business that has been starved of capital by circumstances outside its control. It has a strong reputation for its core testing, inspection and certification services, with an unparalleled history of market leading research.
"Michelle and her colleagues have done a great job of managing IOM Consulting through a demanding period and we are delighted to be backing them. There’s an exciting future ahead."
Joint administrator and Johnston Carmichael LLP restructuring partner commented: "This transaction preserves specialist jobs, provides continuity of service for clients and delivers a significantly better outcome for creditors than other alternatives."
In accounts for the year to March 31 2025, IOM Consulting Limited reported turnover of £5.7 million, up from £5.2 million a year earlier, while operating profit increased from around £597,000 to approximately £765,000.
At the time, its fixed assets were valued at around £286,000 and current assets at approximately £2.2 million, with total equity amounting to £1.7 million.
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