Dudley water industry firm FJ Holdings has secured new capital from independent investment management group Seneca Capital to support its growth plans.
Seneca said the undisclosed investment was supporting 148 jobs as the business aimed to increase exports of its products and systems globally.
FJ Holdings is a £23 million-turnover group of companies which make process and flow control equipment used primarily in the water and waste water industries.
It recently acquired Stoke-based Ham Baker Adams and also owns Industrial Penstocks, Industrial Pipeline Supplies, Industrial Valves and Kempster Valves & Engineering and the new investment means the group can support the re-organisation of its subsidiaries and fund a capital expenditure programme.
Group managing director Andrew Williams said: "The investment from Seneca provides additional support and confidence to grow, to sort out historic issues in Ham Baker and trigger investment into new machinery and generate sales.
"The capital Seneca have invested wasn't the only factor for us. What we wanted was a partner to help us grow the business with a long term view towards how we exit as a group of investors.
"Our task now is to get the engineering capability of both FJ and Ham Baker focused and effective in all markets."
Seneca Midlands head Nick Leitch added: "The potential for the group is significant and, if additional capital is required, we understand the business and can move quickly to support the team and their plans.
"It's an enormous global market, full of opportunities and an inspired acquisition of a leading British innovator in the market."
