Employment law consultancy Peninsula Business Services has raised £30 million of expansion capital from Royal Bank of Scotland (RBS).
Owners Fred Done and his brother Peter landed a windfall after securing the £30m package to fund expansion plans for the employment law consultancy.
The firm, which advises small businesses across the UK and Ireland on employment, health and safety and tax, was set up by the Done brothers in 1983. It has grown into the UK's biggest independent provider of employment law services, with over 700 staff and turnover of more than £60m.
RBS director Chris Swarbrick said: "Peninsula is a very strong business, demonstrated by its year-on-year increase in turnover and profits."
The brothers shelved plans for a £600m flotation of their Betfred empire last year due to market conditions.
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