LDC reinvests in Aspire Technology Solutions

Transaction

Buy-side

c. €228m (c.£200m)

Role

Adviser to LDC on its new round of investment in Aspire Technology Solutions

Sector

Tech & Tech Services

Region

We have advised LDC, private equity investor, on its new round of investment in Aspire Technology Solutions (Aspire), one of the UK’s leading providers of managed IT, cyber security and modern workplace solutions.

Our combined M&A and Debt Advisory teams supported the deal, which has seen LDC reinvest for a significant minority alongside new minority co-investor Federated Hermes, as well as delivering debt financing from Five Arrows.

We have established a long-term relationship with Aspire having previously led the original investment from LDC in March 2022 and supported them throughout their first investment period.

Founded in 2006 and headquartered in Gateshead, 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.

Aspire’s growth since LDC’s 2022 investment reflects both strong organic growth and notable M&A capabilities. The business has grown well beyond its North East roots, establishing a strong national footprint. Its acquisition of Glasgow-based Cloud Cover IT in 2023 and Leeds-based CloudCoCo in 2024 added more than £10m (c.€11.4m) in revenue and created new regional hubs that support further national scale.

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%.

Aspire exceeded its £50m (€57m) revenue milestone in the financial year to February 2025, two years ahead of plan. The company now expects £71.2m (€81.5m) revenue and £13.5m (€15.4m) EBITDA in the current financial year. This latest investment positions Aspire to accelerate its plans and advance toward its £100m (€114.4m) revenue target for 2030.

Since our initial investment, Aspire has more than doubled in size while successfully integrating two complementary acquisitions and maintaining the customer service standards that set them apart in the market. The organic growth rates they’re achieving are genuinely market-leading for the sector.

As lead investor, we’re excited to continue to support Chris and his team through this next phase. With Federated Hermes joining as a co-investor, Aspire has the platform to pursue both organic expansion and a more active M&A strategy in a market where demand for managed IT and cyber security services shows no sign of slowing.
Gareth Marshall, Partner and Head of North East and Scotland, LDC

This investment marks an important new phase for Aspire. It has been a pleasure to once again work with the Clearwater team to make this deal happen. They seamlessly combined multiple specialists into a single team to deliver deep sector insights and technical expertise across all aspects of this complex transaction.
Chris Fraser, Founder and CEO, Aspire

It has been a pleasure to once again work alongside a leading provider in the managed IT and cyber security space. Aspire continues to deliver on its impressive growth story; its innovative approach to service delivery and strong track record of organic expansion make it a standout provider in the sector. We wish them every success and look forward to tracking their progress.
Rob Umpleby, Tech Director, Clearwater

We secured financing that supports LDC’s investment and Aspire’s next phase of growth. This solution provides the capacity for strategic acquisitions while maintaining a strong platform for continued innovation.
Tom Barnwell, Partner, Clearwater