A private investment company has snapped up a company in Ashford.

IndEx Enclosures, which manufactures hazardous area control products at its site on the Henwood Industrial Estate, has been acquired by Kent Business Investors Ltd.

Last year, the investors - Alex Pawle and Stephane Leduc - snapped up precision engineering company Pegasus Precision, also based in Ashford, in a multi-million pound deal.

IndEx, founded by Richard Gipp and Daniel Baker in 2010, currently serves around 220 active clients, mainly in the UK.

Richard Gipp, said: "I am glad we have reached a win-win done deal with Alex and Stephane for their acquisition of our company. Throughout the process, they were attentive to us reaching an arrangement through which both parties could benefit equally. I look forward to seeing the company grow and prosper over the long term".

Alex Pawle, director of Kent Business Investors Ltd, added: "IndEx Enclosures struck us as a highly specialised manufacturer with its own niche product range. We look forward to preserving the company founders’ legacy and building on their philosophy of continuous improvement and manufacturing excellence."

All employees are expected to remain with the company. Former owner, Richard Gipp, intends to remain involved as a consultant to advise and support the company.

Head to our business page for all of the latest news about businesses in Kent