A printer and scanner business has had a cash injection from private equity investors valuing the company at £185 million.

Apogee Corporation, headquartered in Maidstone, will use the cash from Equistone Partners Europe to take over other companies as it tries to expand its market share across the UK and the continent.

The firm, which employs 450 people across 14 offices, expects turnover to reach £120 million this year.

Equistone is an independent investment firm with interests across the UK, France, Germany and Switzerland.

It typically invests between €25 million and €125 million (£20m to £105m) in companies worth up to €300 million (£252m).

Apogee will still be led by joint cheif executives Jason Collins, who co-founded the company in 1993, and Robin Stanton-Gleaves, who joined after the firm acquired Maidstone-based Balreed in August last year.

Equistone partners Steve O’Hare and Andrew Backen will join the board as non-executive directors.

Mr Collins said the investment would “take the company to yet another level and accelerate our growth”.

He added: “Significant acquisitions in the UK and further overseas expansion in Europe as well as continued organic growth are top of our agenda and this will strengthen our position as the market-leading independent company for print and document technology and processes.”

Steve O’Hare, partner at Equistone Partners Europe, said Apogee had shown “impressive year-on-year growth”.

He added: “We look forward to working with the team and are excited about their plans to expand the business in new and existing territories.”