Company of Heroes maker Relic Entertainment is independent for the first time in 20 years. 

As reported by Game Developer, the studio has successfully spun itself out with the financial support of UK-based investment firm Emona Capital. Relic's previous owner, Sega, previously announced that it would be selling the company to Emona back in March. 

Relic CEO Justin Dowdeswell has said that this deal will see the investment firm invest in its portfolio of games, including Company of Heroes and Warhammer 40,000 Dawn of War. The company will be partnering with third-party publishers. 

"We see a huge opportunity to unleash Relic’s creative potential as an independent studio," he said. "The talent, technology, and track record we have built over the years are an amazing starting point for us on this next chapter."

Emona partner Michael Moriarty added: "Relic is one of the best in the genre and we look forward to seeing them achieve their creative visions as an independent studio."

Relic was founded in 1997 and acquired by THQ in 2004. When that company went spectacularly bust in 2013, Sega acquired the studio.