We are delighted to announce that Aspire has secured significant minority investment from LDC, the UK’s leading mid-market private equity firm, in a transaction which values the business at £85m.
Aspire was launched 15 years ago by CEO, Chris Fraser and is now one of the fastest growing IT managed service and cyber security providers in the UK. We currently have multiple offices in locations including Gateshead, London and Stockton-on-Tees, and employ more than 200 people.
We are delivering plans to create more than 150 North East jobs across our recently opened HQ at Gateshead Quays, and a new base at Fusion Hive, a business and innovation centre based on Stockton’s Northshore.
With a large network of UK customers, we deliver leading technology solutions across a range of applications including cloud, connectivity, voice, technical support, and cyber security. Our full fibre network provides bandwidth speeds of up to 100 gigabits per second – some of the fastest connectivity speeds available in the UK.
The business has scaled rapidly with revenue rising to £30m in the last 12 months of trading, growing more than 48% over the past three years.
In addition to our suite of IT services and support, we have also invested heavily in cloud and cyber security as part of our managed services offering.
Aspire Cloud Services, our new self-service, industry leading cloud platform, ensures customers benefit from all the efficiencies that transition to the cloud can offer, whilst keeping them at the cutting edge of innovation.
Meanwhile our own Security Operations Centre, set to launch in the coming months, will be equipped with next generation cyber security intelligence, proactive monitoring, and advanced threat detection.
LDC’s partnership will support the Aspire management team, led by Chris Fraser, to pursue organic growth and acquisition opportunities. We will broaden our suite of IT services and expand further into markets across the UK.
Chris Fraser, CEO at Aspire Technology Solutions said:
“Working with a leading investor that’s right on our doorstep in the North East was really important to us. LDC has an extensive history of supporting businesses just like ours to grow.
“Gareth, Mike and Naomi at LDC are passionate about helping us to deliver on our vision to provide cutting edge technology to our clients. The investment marks a new chapter for Aspire which will enable us to move to the next level. It’s such an exciting time.”
Gareth Marshall, Partner and Head of North East at LDC, said:
“Aspire’s growth, especially over the past three years, is a true testament to the ambition of Chris and his team. Together, they have created a market-leading tech business that the local community here in the North East is incredibly proud of.
“We can see a real opportunity to support the growth of Aspire across the UK and we’re excited about working with the management team to deliver on this.”
Aspire was advised by Clearwater International and Muckle (legal).
LDC was advised by PwC and Cavu (corporate finance), Womble Bond Dickinson (legal), KPMG (financial due diligence).