Cardiff-based technology consultancy Stable is set to accelerate its growth and innovation with a £1.2 million equity and debt investment from the Development Bank of Wales.
Founded in 2001 by Ans and David Aspden, Stable is a leading UK provider of freelance technology expertise and solutions, particularly in cloud technology, cybersecurity and digital transformation. Stable works with a wide range of organisations, including government departments and private sector clients. In 2023, Stable was recognised by The Sunday Times as one of Britain’s fastest-growing private companies. The company now employs 60 staff and its turnover is projected to exceed £19 million by 2026.
The Development Bank has previously supported Stable with loans in 2021 and 2019 for office expansion and working capital. This latest £1.2 million investment will support the company’s continued expansion, particularly in the growing cybersecurity sector and the development of its training academy.
Stable serves a broad range of sectors, including public sector, higher education, emergency services, and the third sector, ensuring its solutions meet the needs of diverse industries. Stable is also working with regional education providers to build learning pathways into the IT sector, addressing the increasing demand for specialist skills across the UK’s technology landscape.
Founder and Chief Executive Ans Aspden said: “Our mission is to drive meaningful change by enabling teams to collaborate and innovate through technology. Having partnered with Microsoft for over two decades, we have a deep understanding of how workplace technology can transform organisations, but we recognise that true digital transformation is as much about people and culture as it is about technology.
“As a Welsh business, we are also passionate about upskilling local talent and creating opportunities for future generations. Partnering with the Development Bank, who share our values, allows us to continue this work and realise our vision of the future of work, built on inclusivity, innovation and technology.”
Sam Macalister-Smith is a Portfolio Executive with the Development Bank. He said: “Stable has a clear vision for the future of work and is making a significant impact in a fast-growth sector. The team has achieved impressive revenue growth in recent years, capitalising on increasing digitalisation and the rise of new workplace technologies. We are excited to support them on the next stage of their growth journey.”
The investment in Stable Resources Limited came from the £500 million Wales Flexible Investment Fund. Financed by Welsh Government, the Fund is for deals between £25,000 and £10 million. Loans, mezzanine finance, and equity investments are available for Welsh businesses with terms of up to 15 years.
