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Phoebus Software concludes management buyout by NorthEdge Capital

    Paul Hunt, CEO at PSL

Phoebus Software Limited (PSL) has announced a management buyout by NorthEdge Capital, after thirty years of private ownership.

Founded in 1989 as a subsidiary of Heritable Bank, Phoebus Software delivers software and service to enhance the origination and account servicing processes across a range of products such as commercial mortgages, equity release etc. The Phoebus solution is a multi-channel, multi-product and multi-currency banking, lending and deposits solution.

Paul Hunt, CEO at PSL commented, “The investment from NorthEdge will provide very solid foundations from which to move our business, products and solutions to the next level of market requirements.”

The buyout will see a shuffle in the PSL board with the exits of founders Robert Lintonbon and Peter Pontefract and the addition of George Potts (NorthEdge) to the board. Paul Hunt will remain as CEO supported by other key directors who remain in their key positions including, Richard Pike (sales and marketing) and Neil Dyke (technology).

Richard Pike, Sales and Marketing Director at PSL, added, “This transaction is a testimony to the success and growth we have had over recent years, and we thank our clients and our staff for working with us to achieve this success. The investment will enable us to accelerate the development of the Phoebus’ solutions already used by our bank, lender and outsourcing clients in the UK and Ireland.”

Based in West Midlands, NorthEdge Capital supports management buyouts, development capital and equity release transactions for companies in the Midlands and the North of England.

Rob Freer, Head of Midlands, 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.”

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