Aspire, a leading technology company in the Northeast secures growth investments from LDC in a £ 85 million transaction
Former North East Company of the Year, Aspire technological solutions announced today that it has secured significant minority investments from LDCthe UK’s leading mid-range private equity firm, in a transaction valuing the business at £ 85m.
Aspire is one of the fastest growing managed IT and cybersecurity providers in the UK and was launched 15 years ago by CEO, Chris Fraser. The company now has multiple offices in locations including Gateshead, London and Stockton-on-Tees and employs more than 200 people.
Aspire is currently making plans to create more than 150 jobs in the Northeast at its newly opened headquarters, based on the site of the former iconic Baja Beach Club in Gateshead Quays, and a new base at Fusion Hive, a shopping mall. and innovation based on Stockton’s North Coast.
With a large customer network in the UK, Aspire offers leading technology solutions across a wide range of applications, including cloud, connectivity, voice, technical support and cybersecurity. Its full fiber network offers bandwidth speeds of up to 100 gigabits per second, some of the fastest connectivity speeds available in the UK.
The business has grown rapidly with revenues rising to £ 30 million in the past 12 months of trading, growing by over 48% over the past three years.
The LDC partnership will support Aspire’s management team, led by Chris Fraser, in pursuing organic growth and acquisition opportunities. The management team aims to expand the company’s suite of services and further expand into markets across the UK.
Chris Fraser, CEO of Aspire Technology Solutions, said:
“Working with a leading investor who is right on our doorstep in the Northeast has been really important to us. LDC has a long history of supporting the growth of companies like ours.
“Gareth, Mike and Naomi of LDC are passionate about helping us realize our vision to deliver cutting-edge technology to our customers. The investment marks a new chapter for Aspire that will allow us to move to the next level. It’s such an exciting time ”.
Gareth Marshall, Partner and Head of North East of LDC, said:
“Aspire’s growth, especially over the past three years, is a true testament to Chris and his team’s ambition. Together, they have created a market-leading tech business that the local community here in the Northeast is incredibly proud of.
“We can see a real opportunity to support Aspire’s growth across the UK and are thrilled to be working with the management team to achieve this.”
Aspire was recommended by Clearwater International and Muckle (legal).
LDC was advised by PwC and Cavu (corporate finance), Womble Bond Dickinson (legal), KPMG (financial due diligence).
Aspire Technology Solutions Secures Private Equity Investment Growth From LDC – UK Technology Investment News
Source link Aspire Technology Solutions Secures Private Equity Investment Growth From LDC – UK Technology Investment News