Aspire sets sights on £100m revenue

Managed services player Aspire Technology Solutions has set its sights on breaking through the £100m revenue barrier by 2030.

The channel player, which specialises in security, outlined the target after sharing progress made in its most recent fiscal year, which saw the firm deliver rises in revenue and earnings before interest, tax, depreciation and amortisation (EBITDA) of more than 25% in the year to 28 February 2025.

Adjusted EBITDA rose by 33% to £8.8m, from £6.6m last year, and revenue rose by 28% to £50.9m, compared with last year’s £39.6m. The vast majority of that (83%) came from long-term service relationships.

Aspire pointed to the £1.7m technology investment it made during the year, which included a private cloud and network enhancements. The business also started to adopt tools powered by artificial intelligence (AI) to support its service delivery.

The channel player was able to add 250 customers throughout the year, which are supported by its team of 300 experts.

That performance saw the firm smash through the £50m revenue barrier, two years earlier than the planned 2027 target, giving it the confidence to set the £100m target for 2030. The business has seen its revenue improve substantially over the past decade, growing by not far off 600% from £8m in 2015.

“Our strategy continues to focus on delivering measurable value for our customers,” said Chris Fraser, CEO of Aspire. “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.”

The fiscal year also saw the firm use mergers and acquisitions (M&A) to expand its reach, picking up the managed service provider (MSP) business from CloudCoCo in October last year to bolster its position in Leeds and the Yorkshire area. The firm also cut the ribbon on a Glasgow office, building on the progress the business has made in the city since its acquisition of Cloud Cover IT in December 2023. It plans to develop its offices further in fiscal year 2025.

Along with the M&A and organic expansion, the business also signalled that it plans to continue investing in its own technology and services to improve the options it can provide customers.

Tom Howard, chief financial officer at Aspire, said its guiding principles were to put money behind those areas that would make a positive difference.

“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,” he said.

Aspire is looking to extend its strong growth trajectory with the continued backing of private equity firm LDC, part of Lloyds Banking Group, which invested a significant minority stake in the channel player in March 2022, valuing the business at £85m.