BDO advises North East tech specialist on major new investment

Accountancy and business advisory firm BDO LLP has advised Aspire Technology Solutions on a new round of investment from private equity investor LDC to accelerate the company’s expansion.

LDC has reinvested in Aspire – the UK’s leading provider of managed IT, cyber security and modern workplace solutions – for a significant minority alongside new minority co-investor Federated Hermes.

In the three years since LDC’s original investment in 2022, Aspire has delivered strong and sustained growth, with revenue up 158% and headcount increasing 55%. The company has also expanded its UK reach and completed two strategic acquisitions. This latest investment positions Aspire to accelerate its plans and advance toward its £100 million revenue target for 2030.

BDO advised the management team of Aspire on financial and tax vendor due diligence. Support was delivered by partners Tom Klouda, Dougal Baxter and Nuala McLaughlin, with support from Rebecca Park, Nathan Hughes, and Andrew Sproule.

Klouda said: “Aspire is an exciting and dynamic business that has more than doubled in size since 2022, accelerating its growth through strong investment in core infrastructure as well as two key strategic acquisitions.

“The latest round of investment marks an important milestone in the company’s growth journey, providing it with real impetus as it continues to combine organic expansion with a more active M&A strategy. We look forward to following the company as it continues to flourish with the backing of LDC and Federated Hermes.

Founded in 2006, Aspire supports more than 2,000 organisations and over 30,000 end users across the UK. The company delivers a comprehensive technology portfolio spanning managed IT, cyber security, cloud, connectivity and unified communications.

The company has established itself as one of the UK’s fastest-growing technology providers, with more than 300 experts across its offices in Gateshead, Glasgow, Leeds, London and Stockton.

Commenting on the acquisition, Chris Fraser, founder and CEO 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.

ENDS

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