International law firm Womble Bond Dickinson (WBD) has advised long-standing client LDC on a new round of investment into Aspire Technology Solutions, the UK's leading provider of managed IT, cyber security, and modern workplace solutions.
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.
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. Aspire exceeded its £50 million revenue milestone in the financial year to February 2025, two years ahead of plan. The company now expects £71.2 million revenue and £13.5 million EBITDA in the current financial year, underlining the strength of its growth trajectory.
WBD advised LDC on its reinvestment in Aspire for a significant minority alongside new minority co-investor Federated Hermes. In the three years since LDC’s original investment in 2022, which WBD also advised on, 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.
A multi-disciplinary, cross-office team from WBD worked on the deal, led by corporate partners David Ridley and Robert Phillips, and legal director Catherine Willis with support from solicitors Ellie Jefferson and Saajidah Ahmed. Partner John Connor led on the banking side and was supported by partner Claire Kistner and associate Lewis Sanderson.
David Ridley commented: "We are delighted to have once again supported LDC on this significant transaction. Aspire’s impressive growth and ambitious vision make them a standout business in the UK technology sector. Our team is proud to have played a role in facilitating this next stage of their journey, and we look forward to seeing Aspire continue to innovate and achieve their strategic goals."
Gareth Marshall, Partner and Head of North East and Scotland at LDC added: "Since our initial investment, Aspire has more than doubled in size, successfully integrating two complementary acquisitions while maintaining the exceptional customer service standards that set them apart in the market. The organic growth rates they’re achieving remain 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.”
