A software company has undergone a management and staff buyout.
The deal has seen 24 members of staff at Alcester-based Vectric take a controlling stake in the business through an employee ownership trust.
The firm, which has previously received two Queen's Awards for Enterprise and International Trade, is a specialist in creating software for CNC routing, milling and engraving.
Its products help clients to create precise toolpaths and designs.
Vectric was founded in 2005 by Brian Moran who will take a step back from daily operations which will now be led by managing director Edward Powell.
Mr Moran said: "Vectric continues to go from strength-to-strength and, while I considered many exit options, none of them protected the ethos of the company, the expertise of our staff or the potential for software development like employee ownership did.
"The team have fully embraced the concept of employee ownership and are delighted that Vectric's legacy will be protected.
"They will also have the chance to contribute to, and benefit from, future successes.
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"They have already become more engaged in the business, realising that what each of them does will affect its future performance which is directly linked to their own success."
MFG Solicitors advised Mr Moran and Vectric's executive board on the buyout deal while MHA MacIntyre Hudson structured the deal, providing tax and accountancy advice and working closely with lawyers from MFG.
Corporate partner at MFG Solicitors Clare Lang said: "Vectric is one of the region's most innovative and respected firms so we were delighted to play such a central role in the deal.
"Brian has built a hugely talented workforce and the business is set to go from strength to strength."
Toby Stephenson, partner at MHA MacIntyre Hudson, added: "This was an excellent deal to have led.
"Vectric has a strong platform for growth and is in great hands with its employees moving into the future."