A software firm is targeting international markets after securing £4.5 million in new funding to acquire a rival in Milton Keynes - its seventh deal in two years.
Sutton Coldfield-based Castleton Technology, which provides bespoke software and infrastructure products, predominately for the social housing sector, has bought housing management and finance software company Kypera.
It was backed by £2 million in capital from the Business Growth Fund, the support scheme set up by five banks to provide finance to companies in return for equity.
Further funding of £1.5 million has been provided by its existing investor MXC Capital while Barclays has extended its bank facilities by a further £1 million.
Castleton claims that nearly a third of all the social housing associations in the UK are now its customers and, over the last two years, the business has made seven acquisitions including this latest buyout of Kypera.
The deal will help it provide a new software platform and bring an international presence to its operations.
The trio of new funding deals will allow the group to continue to take advantage of growth opportunities available to including further possible acquisitions.
Previous investments by BGF Quoted, the specialist arm of the Business Growth Fund focused on listed businesses, include Kidderminster-based carpet manufacturer Victoria.
Castleton's chief executive Ian Smith said: "This is a critical acquisition for us. Kypera adds a whole new level to Castleton's offer.
"We are pleased to have BGF Quoted on board as a strategic long-term partner, whose funding will allow us to unlock further growth in the business."
Gurinder Sunner from the Business Growth Fund added: "Castleton's management team has demonstrated its ability to execute an acquisitive and organic growth strategy.
"We are delighted to be supporting them as they strengthen their offering even further with the integration of Kypera and to make our first co-investment alongside MXC."