An investment company and management buy-in team have snapped up Shropshire mail order clothing retailer Nightingales.
Northern Venture Managers (NVM) has ploughed in £5 million in return for a significant stake in the business.
The transaction was originated by Grant Thornton Corporate Finance in Birmingham, which also sourced the buy-in team led by Tony Lahert.
A Grant Thornton spokesman said the amount invested by the buy-in team was not being revealed.
Nightingales - which generates annual sales of more than £10 million - was purchased from founders Louise and Phillip Stevenson, who launched the retailer in 1977.
The business employs 65 people and is based Craven Arms, north of Ludlow, retailing informal and formal women's clothing targeted at women of 35 and over.
It operates through 13 annual catalogues and a website.
Martin Green, who led the deal for NVM, said: "The attraction of the business lay in its position as an established branded supplier of good quality merchandise, coupled with its loyal customer base.
"It is a testament to the strength of the business that it has outperformed the retail market in the last two years and we are confident that we can build on the very strong core values."
