Phoenix, the fast growing Northampton computer services firm,has secured #3 million worth of venture capital, to fund expansion into Europe.
The company said it was investigating opportunities in Europe, but declined to be specific.
Chase Investments, advised by Alchemy Partners,supplied the equity finance. Alchemy boss Jon Moulton will also supervise Phoenix's long term drive to gain a stock market quotation.
Nick Robinson, Phoenix sales director, said: "We always planned to get a stock market listing in 2000 or 2001, but we realised that we would need a partner. There are many examples of owner-managers who lose focus on their business when they get a listing. The best way to stay interested in the business was to get an expert partner."
Robinson and his colleague, managing director Tom Mackenzie, acquired Phoenix in 1993. In the first year it lost #300,000 on #2.2 million sales. This year the company is targeting #2 million profits on #21 million turnover.
Phoenix supplies third party maintenance for vendors and distributors only. Its customer base includes IBM, Sequent, Digital, Sun, Hewlett-Packard,and Azlan.
The company employs 210 people, based in two sites in Northampton, and engineering centres in Edinburgh, Manchetster, Bristol and Croydon.
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