Motor component firms have welcomed the takeover of Jaguar and Land Rover by Indian firm Tata.
The negotiations with Tata started last year
Tata, India's biggest vehicle maker, is paying £1.15bn ($2.3bn) for the brands after months of negotiations with Ford.
John White of I.M Kelly Automotive which has 80 Coventry workers, said he was happy because Tata "was successful with every single thing that they do".
Coventry City Council, union leaders and business chiefs across the Midlands have also endorsed the deal.
Jaguar and Land Rover employ about 16,000 staff at UK plants in the West Midlands and Merseyside.
Mr White is sales and marketing director of I.M Kelly, which makes interior trims and finishings for Jaguar and Land Rover. He said both luxury marques were doing well.
"So they (Tata) have picked up this business at a very, very, fortunate time," he said.
"I am sure this is all in their plans. Both companies are on the up and long may that continue."
Geoff Bayton, one of the directors of B-squared, a motor component firm with about 20 staff in Coventry, said the move had inspired confidence.
"At the start we were a little bit worried obviously with hearing different consortiums that were looking to get involved," he said.
"As it's come out now with Tata this gives us a good feeling and I think the rest of our workforces are feeling quite happy this has happened because it gives them a lot of confidence."
The negotiations with Tata started last June when Ford announced its intention to sell the companies as a package.
Ford sold the two companies, based at Solihull and Castle Bromwich in the West Midlands and Halewood on Merseyside, in order to concentrate on its loss-making core US car business, which it hopes to turn around in the next two years.