Private equity-backed Aspire acquires digital transformation support firm
Thu, 04 Jan 2024 | BUSINESS SALE
Aspire Technology Solutions, a cyber security and workplace managed services provider (MSP) backed by private equity firm LDC, has completed the acquisition of Cloud Cover IT, a Glasgow-based firm that provides IT and digital transformation support.
The deal will see Cloud Cover IT, which was established over 11 years ago, become part of the Aspire group. The company’s software development and business applications division will be rebranded following the acquisition, trading as Flyte.
Aspire serves in excess of 1,700 customers and has a team of around 250 staff. The group is headquartered in Glasgow, with additional offices in Teesside, London and Leeds.
Aspire Chief Executive and founder Chris Fraser said that the acquisition “marks a new and exciting chapter for both companies” and that the deal would strengthen the group’s presence in Scotland, “positioning us in a thriving market”.
Fraser continued: "The Cloud Cover team will become an integral part of the Aspire group, and together, we believe we can grow significantly in this key strategic market. I'm excited to see the opportunities accelerate as we offer customers, present and future, the innovative solutions that they need in a changing world."
Cloud Cover IT Managing Director and founder Lance Gauld said that “multiple factors” had driven the company to Aspire, saying that the two firms shared "share similar values in our approach towards our people, customers, and objectives."
Gauld added that the deal “is not merely a merger with a large IT company; it is a collaboration with a leading UK technology provider that understands us.” Gauld stated that, as part of Aspire, Cloud Cover can further grow its footprint and broaden its offerings, “with access to more expertise, resources and an extensive portfolio of solutions to help our customers drive their businesses forward."
Read about another recent investment made by LDC in a UK IT firm
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