Armstrong supports LDC’s investment into Aspire Technology Solutions
Armstrong is pleased to have provided sell side CDD support for LDC’s significant minority investment into Aspire Technology Solutions, in a transaction which values the business at £85m.
Aspire is one of the fastest growing IT managed service and cyber security 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 delivering plans to create more than 150 North East jobs across its recently opened HQ, based on the site of the former iconic Baja Beach Club at Gateshead Quays, and a new base at Fusion Hive, a business and innovation centre based on Stockton’s Northshore.
With a large network of UK customers, Aspire delivers leading technology solutions across a range of applications including cloud, connectivity, voice, technical support, and cyber security. Its full fibre network provides bandwidth speeds of up to 100 gigabits per second – some of the fastest connectivity speeds available in the UK.
The business has scaled rapidly with revenue rising to £30m in the last 12 months of trading, growing more than 48% over the past three years.
LDC’s partnership will support Aspire’s management team, led by Chris Fraser, to pursue organic growth and acquisition opportunities. The management team is aiming to broaden the business’ suite of services and expand further into markets across the UK.
Armstrong provided full scope sell side due diligence, including a specific value creation module to help LDC and management define Aspire’s growth strategy, focused on geographical and service development.
Chris Fraser, Aspire CEO, said “We enjoyed working with Armstrong and the team throughout the process due to their thorough and constructive approach.”
Mike Callow, Director at Armstrong Transaction Services said “Aspire is a great business, and we look forward to seeing it go from strength to strength. Congratulations to Chris and the team at Aspire as well as the other advisors involved, it was a great team effort.”
To find out Armstrong’s views on opportunities in the technology sector, please contact:
+44 7894 594 500
+44 7988 121 458
+44 7792 158 738