Espria – or the holding company behind it – has confirmed it has been acquired by BlackRock, around a month after the transaction occurred.
The Espria brand was born in 2022 shortly after private equity backer Connection Capital combined managed print outfit Mode Solutions with similar-sized managed IT specialist EACS.
At that time, the business took on debt financing through BlackRock.
Espria today announced the completion of a “financial restructuring” that has seen BlackRock acquire its ultimate holding company (‘Mode Solutions Ltd’).
Recently filed calendar 2024 accounts confirm the deal took place on 8 January 2026.
By taking control of the group, BlackRock has slashed its senior debt from £58m to £9m, the accounts also reveal.
Espria, which ranked 132nd in the recent Oxygen 250 2026, said its overall financial performance “improved” during the period, as it returned to the black.
Having made an operating loss of £8.4m in 2023, it logged a £167,000 profit this time around, even as revenues dipped from £36m to £30.8m.
The upswing in fortunes reflected a “deliberate focus on contract quality, margin discipline, and the exit of lower-value or non-core activities”, it said.
In a press release, Espria said the move will provide “a strong platform to support the company’s next phase of growth”.
Espria’s refreshed leadership team includes the previously unveiled Angelo Di Ventura as CEO, as well as David Man as CFO and Gary Veal as Chairman of the Board.
“Together, these appointments significantly strengthen Espria’s leadership and governance structure and support the company’s strategic ambitions going forward,” Espria stated.
