Aspire Technology Solutions has secured a fresh £200 million round of investment led by private equity investor LDC to accelerate the company’s expansion and support an ambitious acquisition strategy.
The provider of managed IT, cyber security and modern workplace solutions said LDC has reinvested for a significant minority alongside new minority co-investor Federated Hermes.
In the three years since LDC’s original investment in 2022, Aspire has delivered strong and sustained growth, with revenue up 158% and headcount increasing 55%. The company has also expanded its UK reach and completed two strategic acquisitions.
The latest investment positions Aspire to accelerate its plans and advance toward its £100m revenue target for 2030.
Founded in 2006 and headquartered in Gateshead, Aspire supports more than 2,000 organisations and over 30,000 end users across the UK.
The company has established itself as one of the UK’s fastest-growing technology providers, with more than 300 experts across its offices in Gateshead, Glasgow, Leeds, London and Stockton. Aspire exceeded its £50m revenue milestone in the financial year to February 2025, two years ahead of plan. The company now expects £71.2m revenue and £13.5m EBITDA in the current financial year.
Aspire’s growth since LDC’s 2022 investment reflects both strong organic growth and notable M&A capabilities. The business has grown well beyond its North East roots, establishing a strong national footprint.
The acquisitions of Glasgow-based Cloud Cover IT in 2023 and Leeds-based CloudCoCo in 2024 have added more than £10m in revenue and created new regional hubs that support further national scale.
The valuation of the business has risen from £85m in 2022 to £192m today. This growth has been underpinned by continued investment in core infrastructure, including private cloud, network enhancement and AI-powered tooling.
Chris Fraser, founder and CEO of Aspire, said: “This investment marks an important new phase for Aspire. Our growth has always been driven by a clear focus on our customers and on delivering innovative solutions with exceptional service. That focus has set us apart and it remains the foundation of everything we do.
“LDC has supported our ambition since 2022 and their continued partnership as a lead investor, now alongside Federated Hermes, gives us the platform to move forward with confidence. Our direction is clear. We will continue to scale through sustained organic growth and customer focus.
“This investment enables us to further strengthen our capability and deliver across the UK. We see significant opportunity ahead and we are committed to growing in a way that brings customers even greater value, service and security.”
The transaction was led by LDC’s Gareth Marshall, partner and head of North East and Scotland, and investment manager Emma Borrie.
Marshall added: “Since our initial investment, Aspire has more than doubled in size while successfully integrating two complementary acquisitions and maintaining the customer service standards that set them apart in the market. The organic growth rates they’re achieving are genuinely market-leading for the sector.
“As lead investor, we’re excited to continue to support Chris and his team through this next phase. With Federated Hermes joining as a co-investor, Aspire has the platform to pursue both organic expansion and a more active M&A strategy in a market where demand for managed IT and cyber security services shows no sign of slowing.”
As part of the transaction, Tim Hipperson steps down as non-executive chair. He will be replaced by David Murray, who brings more than 30 years of experience in supporting technology business growth.