Aspire Technology Solutions secures growth investment from LDC in an £85m transaction.
LDC has taken a significant minority stake in the managed service provider to support nationwide expansion.
Aspire Technology Solutions is an IT managed service and cyber security provider delivering cloud, connectivity, voice and technical support. The company operates a full fibre network providing bandwidth speeds across the UK.
Aspire Technology Solutions has secured a growth private equity investment from LDC in a transaction valuing the business at £85m. The company plans to use the partnership to pursue organic growth and acquisitions while expanding its service offering across the UK.
Founded fifteen years ago, Aspire employs over 200 people across offices in Gateshead, London and Stockton-on-Tees. The business has scaled rapidly, posting revenue of £30m over the past year following a period of strong growth.
The investment will support chief executive Chris Fraser and his management team as they continue expansion efforts, which include creating over 150 new jobs at regional hubs in Gateshead and Stockton.
From the founder
"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."
Chris Fraser
CEO at Aspire Technology Solutions
Investor perspective
"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."
Gareth Marshall
Partner and Head of North East, LDC
Use of funds
- 01Fund acquisitions
- 02Grow the team
- 03Expand into international markets
Investors
About the company
Aspire Technology Solutions
Aspire Technology Solutions provides managed IT and cyber security services.