Aspire follows acquisition trail with £28m loan
The Aspire Group, based in Newcastle-under-Lyme, has been granted £28m of funding to expand the business. The social enterprise group, which secured the investment from Barclays and Lloyds TSB, said it will use the cash to provide 300 new properties and complete a series of acquisitions.
Aspire comprises housing association Aspire Housing, social enterprise training and skills provider PM Training and regeneration charity The Realise Foundation.
The organisations said the loan will be used to continue expanding its operations, including the completion of several acquisitions within North Staffordshire in the coming months.
The cash injection will also be used to build and acquire more than 300 affordable new properties across the region over the next four years, it was added.
In addition to the new loan, the company has an existing funding arrangement with the banks worth more than £112m.
Sinéad Butters, Aspire Group’s chief executive, said: "We are particularly excited about the possibility of acquiring new businesses and expanding the range of services that we offer.
"The tough economic situation proved no barrier to us delivering multimillion-pound regeneration projects at Ingestre Square and Lymebrook Way recently. By securing this investment and working with our partners and funders we will be able to continue this growth over the coming years."
