A Black Country filter manufacturer has undergone a management buyout.
Walsall-based Bowman Stor is now under the sole control of current managing director Richard Potts who has been in the post since 2013.
Established in 1998, Bowman Stor designs, develops, manufactures and distributes industrial filtration systems, supplying domestic and international clients in sectors such as automotive, aerospace, healthcare and water treatment.
Mr Potts was backed in the deal with £2.5 million in funding from Frontier Development Capital.
The sellers were John and Verity Timmins who founded the business and have decided leave it completely to pursue other ventures.
The new injection of capital will be used to invest in research and development and support entry into new and existing markets.
Mr Potts said: "We've worked hard over the years to provide innovative solutions for businesses under increasing pressure to improve sustainability and navigate changing environmental legislation in a cost-effective way.
"By focusing on R&D, we have been able to bring to market a number of filtration products, paving the way for future growth, where our unique technology can be used to support a variety of new industries across the world.
"Having been part of the business for more than five years and by taking a full shareholding, I look forward to driving forward this growth and establishing our own brand in all markets."
Carl Perry, investment manager at Frontier Development Capital, added: "We are delighted to back our first MBO investment in the West Midlands.
"FDC's support for Bowman Stor will allow Richard to remain focused on the task at hand - growing the company and adding further chapters to its already exciting story.
"We believe the business has huge opportunities ahead and through Richard's leadership and the support of ourselves and his professional advisers, we are sure that the company's success will continue."
Advisers on the deal were Red Clover, George Green, Ludgate Finance, Higgs & Sons and Wilkes Tranter Accountants.