Black Country engineering conglomerate Wellman Group said it was looking forward to extending its work on "green" energy after being bought by Kwikpower International.
The Oldbury company, which employs 250 people, said it was looking forward to the next 100 years after it was sold by its owner Alchemy Partners in a multimillion pound deal.
Kwikpower, which specialises in renewable energy, has made a large investment in Wellman to help it develop its steam treatment and recycling processes.
The process sees rubbish being cleaned, sorted into reusable parts of glass, plastic and other materials, before being ' cooked' at high temperatures.
The gas emitted is then used to generate electricity, while the whole process reduces the need for landfill.
Wellman specialises in the design, manufacture and supply of engineering products ranging from submarine life support systems to boilers, heat exchanges and furnaces.
In recent years the company has developed equipment for the heat and steam treatment of waste products which provided a link to Kwikpower and its interest in renewable energy.