Aspire revenue climbs 28% to GBP £50.9m on tech investments

Aspire Technology Solutions reported a significant increase in both revenue and EBITDA in its latest financial year, citing new technology investments and a focus on customer service as the main drivers of growth.

The Gateshead-based managed IT and cyber security provider disclosed that its revenue for the year ending February 2025 rose by 28% to GBP £50.9 million, surpassing its previous objective of GBP £50 million two years earlier than planned. Adjusted EBITDA for the same period reached GBP £8.8 million, representing a 33% rise compared with the previous year's GBP £6.6 million.

Aspire's long-term service relationships accounted for 83% of the total revenue. The company invested GBP £1.7 million in technology, including enhancements to its private cloud and network infrastructure alongside the introduction of AI-powered tools intended to improve service response and resolution times.

Growth targets and history

The company has now established a new growth target of achieving revenue over GBP £100 million by 2030. Aspire's revenue has increased by almost 600% over the last decade, growing from GBP £8 million in 2015.

The past year saw Aspire add 250 customers, while its workforce now consists of over 300 professionals. Customer satisfaction scores have remained elevated, with the company reporting a Net Promoter Score (NPS) of 87.2, which it notes is ahead of industry averages.

Reflecting on these developments, CEO Chris Fraser stated:

"Our strategy continues to focus on delivering measurable value for our customers. From staying at the forefront of service innovation to expanding our regional presence, every decision this year has built on our strengths, making us even faster, more responsive, and easier for customers to work with. We're proud of the growth we've achieved, but even more so of the trust our customers continue to place in us."

Regional expansion and acquisitions

During the financial year, Aspire expanded its operations regionally, notably through the acquisition of CloudCoco Limited in October 2024, which strengthened its presence in Leeds and across Yorkshire. Earlier, the company acquired Glasgow-based Cloud Cover IT in December 2023. Following this acquisition, Aspire established a new city-centre office in Glasgow and expanded the local team. Plans are also in place to set up a new office in Leeds and expand further within the region.

The expansion efforts have been supported by private equity firm LDC, a part of Lloyds Banking Group, which invested in Aspire in March 2022 for a significant minority stake. At the time of investment, Aspire's business was valued at GBP £85 million. LDC's involvement has enabled Aspire to make long-term investments in personnel, infrastructure, and technology, addressing growing demand for managed IT and cybersecurity services.

Investments in technology and research

Alongside regional expansion, Aspire has continued to prioritise research and development. The company has focused on developing its cloud platform, secure communication tools, and automated billing systems, which it reports are shaped by customer feedback and market trends.

Aspire's Chief Financial Officer, Tom Howard, commented:

"We've continued to invest where it has the greatest impact for customers, focusing on the platforms, processes and teams that keep our service running smoothly as we grow. Innovation has played a key role, helping us work more efficiently and maintain consistently high standards at scale. This approach is central to our mission to deliver technology like no other."

Recognition and future ambitions

The company received a Royal Warrant from King Charles III in May 2025 in recognition of its services to the Royal Household. Aspire's management stated this reflects their commitment to service quality and continued investment in technology and people. Looking ahead, the company says it remains on track to double revenue to over GBP £100 million by 2030, following ongoing investments and a strategic growth plan supported by its private equity backers.