Midland manufacturer Dunlop Systems and Components is creating 15 new jobs and planning to conquer international markets over the next two years after securing a funding deal.
The company designs and manufactures advanced electronic control systems and air suspension components for the automotive and ancillary industries.
It has secured an undisclosed investment from funds managed by Finance Birmingham and ABN-Amro Commercial Finance.
The deal, led by Springboard Corporate Finance, will support the firm's continued expansion over the coming years.
Dunlop Systems and Components, whose roots date back to 1890 as part of the renowned Dunlop brand, was formed in 2007 following a management buy-out of the Coventry-based suspension division from the previous owners Trelleborg.
Under the stewardship of its managing director Chris Davis, the business has invested heavily in its infrastructure and capabilities by moving into a purpose-built facility at Prologis Park in 2014.
Mr Davis said: "We are now firmly positioned as an air suspension systems integrator with original equipment manufacturer capabilities.
"This refinancing will enable the company to capitalise on this investment and deliver substantial growth in our UK and export markets."
David Neate, partner at Springboard Corporate Finance, said: "Dunlop Systems and Components is a leading global supplier to the automotive sector and this additional funding will enable the company to drive forward its growth by investing in its staff base and product development.
"This strategy has already seen Dunlop Systems and Components secure a number of new contracts with leading international automotive groups."
Marcus Hook, investment director at Finance Birmingham, added: "Dunlop Systems and Components is a well-established and impressive automotive manufacturing business, with strong customer and supplier relationships and a number of exciting global opportunities ahead of it.
"The recent move to its purpose-built, first-class production facility gives the business the capability to deliver on a number of innovative products being developed in the sector.
"Finance Birmingham aims to support ambitious businesses with huge potential, and the funding package we have provided alongside ABN-Amro will help Dunlop Systems and Components deliver on such exciting prospects."
Legal advice on the deal was provided by Hill Hofstetter to Dunlop Systems and Components and Wright Hassall to Finance Birmingham.