Aspire Technology Solutions, a tech firm based in Gateshead, has secured a new round of investment from private equity investor LDC to accelerate expansion and support its long-term growth plans. The funding will assist Aspire in pursuing further acquisitions as it targets £100 million in revenue by 2030.
Chris Fraser, founder and chief executive 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.”
LDC has reinvested for a minority stake alongside new co-investor Federated Hermes. This follows strong performance since LDC’s original investment in 2022, with Aspire’s revenue rising 158 per cent and headcount increasing by 55 per cent. The business is now valued at £192 million, up from £85 million in 2022. Aspire exceeded its £50 million revenue milestone in the financial year to February 2025, two years ahead of schedule. It now expects to achieve £71.2 million in revenue and £13.5 million EBITDA in the current financial year.
The company, founded in 2006, supports more than 2,000 organisations and more than 30,000 end users across the UK. It offers services across managed IT, cyber security, cloud computing, connectivity and unified communications. Growth has been driven by both organic expansion and acquisitions. Recent deals include Cloud Cover IT in Glasgow in 2023 and CloudCoCo in Leeds in 2024, adding more than £10 million in revenue and establishing new regional hubs.
In May 2025, Aspire received a Royal Warrant from King Charles III in recognition of its services to the Royal Household. It was also named Technology Business of the Year 2025 at The Lloyds British Business Excellence Awards. Debt financing for the transaction was provided by Five Arrows. LDC was advised by Clearwater, Womble Bond Dickinson, and KPMG.
Image source:
