Aspire Technology Solutions has received an investment from private equity firm LDC, valuing it at £85m.

The company plans to use this funding to grow and find new acquisitions, expand its business services and reach new markets in the UK.

Over the past three years, Aspire has reportedly grown 48%, with revenues reaching £30m in the past 12 months.

Chris Fraser, CEO at Aspire Technology Solutions, said: “Working with a leading investor that’s right on our doorstep in the North East was really important to us. 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.”

Describing itself as one of the fastest-growing IT and cyber security service providers in the UK, Aspire currently has 200 employees. It is now looking to create a further 150 jobs in the northeast of England.

Gareth Marshall, Partner and Head of North East at LDC, said: “Aspire’s growth, especially over the past three years, is a true testament to the ambition of Chris and his team. Together, they have created a market-leading tech business that the local community here in the North East is incredibly proud of.”

“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’s technology solutions include cloud, voice, connectivity, and technical support. The company boasts its fibre network can reach speeds of up to 100 gigabits per second, among the fastest in the UK.

Babble, an internet telephony service provider based in Newcastle near Aspire, is achieving similar ambitions following a string of acquisitions.

 

 



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