IT firm targets £100 million goal after strong year

An IT support firm is targeting £100 million turnover after a record-breaking year.

Aspire Technology Solutions saw annual revenue jump beyond £50 million, as takeover deals and apparatus investments boosted performance.

And bosses say the uptick – which came two years ahead of forecasted schedules – leaves the Gateshead-based operator primed to hit £100 million income by 2030.

According to latest results released today (Monday, August 11), the business saw revenues rise 28 per cent to £50.9 million in the year ending February 2025, with adjusted earnings before interest, tax, depreciation and amortisation 33 per cent better off at £8.8 million.

Officials say the managed IT and cybersecurity support provider’s progress was fuelled by the addition of 250 customers in the period and £1.7 million investment in private cloud and network updates, and artificial intelligence-powered tools to boost service speed.

They add it also benefited from the impact of expansion deals for Leeds’ CloudCoCo and Glasgow-based Cloud Cover IT, revealing plans for a new Leeds office are in the pipeline.

Chris Fraser, chief executive, said: “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 customers continue to place in us.”

Tom Howard, chief financial officer at Aspire, which is backed by private equity firm LDC, added: “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.”

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