Birmingham-based Eurospray group is driving for growth after securing a £100,000 funding boost and a £90,000 contract from motorcycle giant Kawasaki.
The firm will supply and maintain newly developed low-noise spray booths for Kawasaki.
In addition, the funding secured from Birmingham-based Close Invoice Finance - part of the Close Brothers Group - will be used as working capital to grow the firm.
Euospray plans to expand turnover by at least 20 per cent year on year. Projected turnover for 2005 is currently £3.75 million, up from £3.2 million in
2004. The company also hopes to re-enter profit after a loss last year.
Ten new jobs are planned across the group with the majority based at the Ospray division - a joint venture with Oscott Air which supplies spray equipment to the West Midlands.
Finance director Andrew Donaldson said: "We have suffered from the general state of manufacturing, but we have restructured and, with funding from Close Brothers, we want to move forward."
Eurospray was set up in the late 1990s by Birmingham businessmen Barry Doherty, Peter Fenlon, Richard Day, and Andrew Donaldson, and has moved its headquarters from Leicestershire to Birmingham city centre.
Mr Donaldson said Eurospray had escaped any significant fallout from the Rover crisis.
He said: "By diversifying across a number of markets and restructuring our funding, we have managed to protect ourselves."
As well as providing and repairing spray equipment for Land Rover, the company also supplies the technology to spray the speckles on chocolate eggs.
Mr Donaldson said: "Key to our diversification strategy has been the ability to expand without outstripping the capital base.
"Ospray is proving to be particularly profitable for the group and a large part of its success is due to our factoring facility. As we grow, the funding has to do the same."