Truscanian Foundries, the Black Country-based metal castings business, has been sold to W Lucy & Co.
The company, which was founded in 1982, will continue to trade from its Oldbury site on St Martins Industrial Estate with the existing management team remaining in place.
Hawkins Hatton, a niche corporate law firm, acted as lead adviser to the principle shareholders of Truscanian Foundries, Graham Shore and John Harris, working alongside Paul Cutter from Halesowen accountancy firm David Cutter & Co.
W Lucy's existing iron foundry business, Sandawana Casting, is based in Oxford and the acquisition of Truscanian Foundries, a specialist aluminium foundry, will complement its existing operations.
Truscanian Foundries supplies a range of castings for various engineering sectors, specialising in heat exchanges, electrical switchgear and similar products.
Colin Rodrigues, corporate partner for Hawkins Hatton, said: "The new owners intend to further develop the business at the Oldbury site and with increased backing in terms of size, resources and financial strength, customers and staff can be confident about the future."