Technical director Dave Roach said Penso had already doubled its workforce and turnover in the last 12 months.
BBC: Penso engineering firm plans 'to create 100 jobs'
Penso said the investment from HSBC would allow it to purchase its Woodhams Road site and install new equipment.
Penso finance director Richard Owen, said purchasing the factory at Woodhams Road would allow it to modify the plant in a way it was not able to do as a tenant.
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