Aspire Technology Solutions has secured minority investment from private equity firm LDC, in a transaction which values the business at £85m.
LDC’s partnership will support the IT managed service and cyber security provider’s management team to pursue organic growth and acquisition opportunities.
The company said its management team is aiming to broaden the firm’s suite of services and expand further into markets across the UK.
The investment from LDC will enable the tech firm to continue to invest in staff, as it is currently delivering plans to create more than 150 jobs in the North East across its recently opened HQ in Gateshead and Stockton-on-Tees base.
Launched by CEO Chris Fraser 15 years ago, Aspire now employs more than 200 people across its three offices in London, Gateshead and Stockton-on-Tees.
Chris Fraser, CEO at Aspire Technology Solutions said: “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.”
Gareth Marshall, Partner and Head of North East at LDC, added: “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.”
