Aspire Technology Solutions secures LDC investment

Aspire Technology Solutions has secured significant minority investment from mid-market private equity firm LDC, in a transaction which values the business at £85m.

UK-based managed service and cybersecurity provider Aspire was launched 15 years ago by CEO Chris Fraser. The company now has multiple UK offices and employs more than 200 people. Aspire is currently delivering plans to create more than 150 North East jobs across its recently opened HQ, based in Gateshead, and a new base in Stockton-on-Tees.

The business delivers technology solutions across a range of applications including cloud, connectivity, voice, technical support and cybersecurity. Its full fibre network provides bandwidth speeds of up to 100 gigabits per second.

Revenue has risen to £30m in the last 12 months of trading, Aspire confirmed, growing more than 48 per cent over the past three years.

LDC’s partnership will support Aspire’s management team to pursue organic growth and acquisition opportunities. The management team aims to broaden the business’ suite of services and expand further into UK markets.

“Working with a leading investor that’s right on our doorstep in the North East was really important to us,” said CEO Chris Fraser. “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 that Aspire’s growth is a ‘true testament’ to Fraser and his team's ambition.

“Together, they have created a market-leading tech business that the local community here in the North East is incredibly proud of,” Marshall commented. “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).