A Liverpool-based house builder has received almost £7m in return for a 35% stake in the business.
TGF Capital has invested in Hassett Homes in a move the company hopes will help it grow its turnover to £30m within three years.
The business, which develops homes in suburbs including Aughton, Formby and Eccleston, is expected to report sales of £11m in its current financial year.
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Hassett Homes founder Jamie Blennerhassett said: "This is the natural extension of our relationship with TGF Capital and I’m delighted to have them as a board and shareholding partner.
"Having institutional-grade backing of this type puts us on a very firm footing as far as our future funding needs are concerned.
"The move will enable us to access up to £20m in low-cost finance to drive our site acquisition and development programme, as well as strengthening our corporate governance."
The investment comes after the two companies started working together over two years ago with a mix of debt funding and development-specific equity.
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Steven Peck of TGF Capital added: "Having seen the quality of the management within the business and the quality of the houses it delivers, stepping up our involvement made perfect sense.
"We bring a lot to the table and will be committed shareholders, keen to drive growth and performance over the long term."
Glenville Walker acted on behalf of Hassett Homes on the transaction. Husband Forwood Morgan acted for TGF Capital.
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