Birmingham-based Leacy Classics has completed the acquisition of a local Mini classic parts specialist as part of a three-year expansion plan.
The company said it planned to hit the £10 million turnover mark and employ 20 extra staff.
Leacy, which specialises in the classic car parts industry, will use the purchase of Coleshill-based Min-its to expand its range to more than 50,000 parts, including an enhanced selection of 5,000 Mini spares and high-performance engine components.
READ MORE: {}
The firm said all jobs would be safeguarded following the deal which it hopes will create a one-stop shop for enthusiasts and individuals looking to maintain or restore cars manufactured by MG, Triumph, Morris Minor, Jaguar and Land Rover.
Chief executive of Leacy Classics David Keene said: "The acquisition of Min-its gives us the opportunity to expand the range of classic and high performance Mini parts to our retail and trade customer base.
"It has a well-established and loyal customer base and we hope to enhance the service and range of products available to them both online and at our dedicated distribution centre in Birmingham.
"There is a real resurgence of interest in the marketplace, with lower insurance rates than most modern cars and rapidly appreciating values, making classic vehicles the next big investment for many people.
"The acquisition of Min-its is part of a three-year growth plan that will look at increasing turnover to £10 million and potentially looking at increase our international business even further - currently 50 per cent of our orders are overseas.
"We are not ruling out further purchases either. If there are natural synergies in place and it adds value to what we do then we'll certainly look at completing other strategic deals."