Aspire Technology Solutions has secured an additional £200m investment from LDC and Federated Hermes to accelerate its expansion and provide further support for its M&A strategy. The Aspire Technology Solutions investment marks a new stage in the company’s development and brings together a wide group of advisers who worked on the transaction.
Founded in 2006 and headquartered in Gateshead, the business provides managed IT, cyber security and workplace services. It supports more than 2,000 organisations and over 30,000 end users across the UK. Aspire now employs more than 300 people across offices in Gateshead, Glasgow, Leeds, London and Stockton.
In the financial year to February 2025, the company exceeded its £50m revenue milestone two years ahead of plan. LDC has reinvested in the form of a significant minority stake, joined by new minority co investor Federated Hermes. The Aspire Technology Solutions investment follows a period of rapid expansion. Since LDC’s original investment in 2022, revenue has increased by 158 per cent. Headcount has risen by 55 per cent. The value of the business has also grown, rising from £85m in 2022 to £192m today.
Aspire has completed two acquisitions during this time. The latest backing is intended to help the company progress towards its £100m revenue target 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.”
The deal was led for LDC by Gareth Marshall, partner and head of North East and Scotland, and investment manager Emma Borrie. Gareth Marshall said: “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 after three years. David Murray will join as non executive chair. He brings more than 30 years of experience in supporting technology business growth.
Advisers on the transaction included Clearwater, Womble Bond Dickinson and KPMG for LDC. Management was advised by Muckle and BDO. Federated Hermes received advice from Morgan Lewis and Alvarez & Marsal. Debt financing was provided by Five Arrows.
The Aspire Technology Solutions investment reinforces the company’s intention to scale while maintaining its established focus on customers and service.
