London personal fairness agency secures majority stake in North East IT firms

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Aspire Technology Solutions announced today that it has secured a significant minority stake from a London based private equity firm in a transaction valuing the company at £85m.

Founded 15 years ago by CEO Chris Fraser, Aspire is one of the fastest growing IT managed services and cybersecurity providers in the UK. The company now has multiple offices in locations such as Gateshead, London and Stockton-on-Tees and employs over 200 people.

Aspire is currently delivering plans to create more than 150 jobs in the North East at its recently opened headquarters on the site of the former iconic Baja Beach Club at Gateshead Quays and a new base at Fusion Hive, a business and innovation hub based on Stockton’s North Shore.

With a large network of UK customers, Aspire delivers leading technology solutions across a range of applications including cloud, connectivity, voice, technical support and cybersecurity. Its full fibre-optic network offers bandwidth speeds of up to 100 gigabits per second – some of the fastest connectivity speeds available in the UK.

The company has grown rapidly, with revenue soaring to £30m in the last 12 months of trading and growing by more than 48 per cent over the last three years.

The partnership with LDC will support Aspire’s management team, led by Chris Fraser, in pursuing organic growth and acquisition opportunities. The management team aims to broaden the company’s range of services and further expand into markets across the UK.

Chris Fraser, CEO of Aspire Technology Solutions said, “Working with a leading investor right on our doorstep in the North East was very important to us. LDC has a long history of helping companies like ours grow.

“Gareth, Mike and Naomi at LDC are passionate about helping us achieve our vision of bringing leading-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 at LDC, said: “The growth of Aspire, particularly over the past three years, is a true testament to the ambition of Chris and his team. Together they have created a market-leading technology company that the local community here in the North East is incredibly proud of.

“We see a real opportunity to support the growth of Aspire across the UK and we look forward to working with the management team to make this happen.”

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