PRIVATE equity firm Endless LLP has purchased a West Midlands engineering firm just days after another major investment in London.
The Leeds-based firm has now bought Niagara Lasalle (UK) Limited from the Niagara Corporation in the United States.
It has cost Endless 27 million.
Just days ago, Endless announced it had bought Liberata, a leading supplier of business processing outsourcing services, which was the firm's first deal in London.
Niagara Lasalle employs more than 300 people and operates from six processing and distribution operations across the country. Its headquarters are in Willenhall in the West Midlands. It makes hot rolled and bright steel bars.
GE Capital has supported the buyout.
Nick Leitch, Endless LLP director, said: "Niagara Lasalle has a long established history within the UK steel sector, providing high quality specialist products.
"Whilst manufacturing in the UK has been tough in recent years, it is a testament to the skill and determination of the management team and workforce who have successfully steered the company through this period, maintaining a sizeable market share.
"Endless very much look forward to providing ongoing support to this already successful business."
Tarlok Singh, chief executive of Niagara Lasalle (UK), said: "This deal represents an ideal opportunity to continue the development of a great business of which I have been in charge for many years.
"I am delighted to secure the long-term future of the company and intend to grow the business both in the UK and via increased exports."
Endless LLP is the UK's leading turnaround investor and is an independent private equity house, specialising in the provision of financial investment and hands-on turnaround expertise to businesses facing challenges or finding themselves in special situations.
It was formed in December 2005 and has grown rapidly.
The company has funds under management of 300 million.
Endless has a positive reputation for doing deals. Back in 2010 Endless won the Turnaround Deal of the Year honour at the Insider Dealers Awards for the sale of DavyMarkham Limited to Indian congolomerate Hindustan Dorr Oliver.