26th Nov 2025 11:15
(Alliance News) - Caledonian Holdings PLC on Wednesday said it has agreed to buy Aspire Commerce Ltd for an enterprise value of GBP9.5 million.
Shares in Caledonian, a Bingley, England-based investment company focused on financial services, climbed 28% to 0.0051 pence on Wednesday morning in London, giving it a market capitalisation of GBP1.7 million.
Aspire recorded a pretax loss of GBP4.0 million on revenue of GBP36,057 in 2024, according to Caledonian.
To provide working-capital funding to Aspire, Caledonian said it has executed a GBP600,000 loan agreement, which will accrue 10% interest per annum.
Aspire provides lending to businesses for cash flow problems and global expansion opportunities.
Caledonian said the acquisition is a "significant step in delivering Caledonian's strategy to build an integrated, technology-enabled financial-services investment group."
It added: "The board of Caledonian believe that Aspire will serve as a foundational platform for Caledonian's financial-services strategy, enabling the company to scale more efficiently and expand into adjacent fintech verticals."
The completion of the acquisition is contingent upon receipt of regulatory change-of-control approval from the UK Financial Conduct Authority, as well as approval by Caledonian shareholders.
Caledonian Executive Director Jim McColl said: "The proposed acquisition of Aspire aligns with our strategy to build a scalable technology-enabled financial-services group. The interim funding ensures Aspire remains operationally stable ahead of completion and supports the platform we intend to develop."
Aspire Chief Executive Adam Rigler said: "Partnering with Caledonian marks an important step for Aspire. The working-capital support gives us the stability to continue serving customers during the transition period, while aligning us with a long-term strategic partner committed to expanding our platform and capabilities."
By Roya Shahidi, Alliance News reporter
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