News
LDC-backed Aspire Technology Solutions Completes Acquisition of CloudCoCo
1 Nov 2024
Aspire, one of the UK’s leading providers of managed IT, cyber security, and modern workplace solutions, announces the acquisition of CloudCoCo Limited, an experienced managed service provider headquartered in Leeds.
This acquisition marks a strategic advancement in Aspire’s plan to expand its UK presence and further strengthen its ability to deliver industry-leading managed IT services, robust security solutions, and integrated modern workplace technology to clients across multiple industries, from SME to enterprise.
Building on Aspire’s successful acquisition of Cloud Cover IT in January 2024, which expanded its footprint in Scotland and strengthened its service capabilities, CloudCoCo’s established relationships, skilled team, and expertise in managed IT, cloud, and unified communications will enable the Aspire Group to provide more tailored, responsive services that address the evolving needs of businesses across sectors. The acquisition will bring over £10 million in additional revenue and approximately 300 new customers to Aspire, setting the stage for future growth.
Chris Fraser, Aspire CEO and founder, commented: “While CloudCoCo has undergone a period of structural transition, what truly stood out to us was its strong relationships with its high-quality customer base and the expertise within its team. These strengths align perfectly with our commitment to delivering technology like no other. This acquisition not only broadens our reach but also enhances our ability to offer responsive, innovative solutions that meet the evolving needs of our clients.”
The CloudCoCo team will be an important part of Aspire’s next chapter, and together, we’re ready to make an even greater impact across key UK regions.”
Darren Weston, Group Operations Director at CloudCoCo Limited, added: “Joining Aspire represents an exciting new phase for CloudCoCo. We look forward to working closely with Chris and the team to expand our reach, deliver added value, and provide a wider range of innovative solutions. Aspire’s commitment to excellence aligns well with our own, it’s a powerful collaboration with a trusted UK technology provider that shares our values and goals.”
Aspire’s recent £1.7 million reinvestment in its established technology stack, as outlined in its FY24 accounts, reinforces the capabilities of its next-generation Security Operations Centre (SOC) and other critical infrastructure. Supported by LDC, a leading private equity firm known for backing high-growth UK businesses, this underscores Aspire’s dedication to driving innovation and maintaining the highest standards of service. With an expanded presence across Gateshead, Glasgow, London, Stockton, and now Leeds, Aspire is poised to set new benchmarks in managed IT, cyber security and modern workplace solutions for businesses throughout the UK.
