Cooper Parry Corporate Finance recently provided corporate finance advice on a deal that’s seen NorthEdge Capital back the management buyout (MBO) of Phoebus Software Limited (PSL).
PSL are a Solihull-based software and services provider to the banking, building society and lending sectors. Founded in 1989, the business currently employs 130 staff and has a strong client portfolio of multinational financial services firms.
NorthEdge’s investment, which backs existing PSL CEO Paul Hunt, is the second from their SME Fund I. This fund targets businesses across all sectors in the Midlands and the North of England, investing equity in management buyouts, equity release, growth and development capital and buy-and-build opportunities.
With NorthEdge’s backing, PSL will be able to invest resource and capital into their product offering.
Paul Hunt, CEO, PSL, said:
“After sustained growth and success over many years, our business is ready to move to the next level. In working with NorthEdge, we have an investment partner who will provide backing to ensure that our products and services continue to be at the forefront of market requirements.”
Rob Freer, Head of Midlands at NorthEdge Capital, said:
“It’s clear to see that the team at PSL is valued by their clients and have built a strong reputation over many years. We look forward to supporting Paul and his team through further investment in product capabilities, to execute on an exciting growth strategy centred on delivering great systems into their high-growth client-base.”
Andy Parker, Head of Cooper Parry Corporate Finance, said:
“Following investment from NorthEdge, PSL is very well positioned to continue to capitalise on the opportunities within this growth market. We wish Paul and his team every success.”