A West Midlands law firm says it is planning to double in size over the next 18 months after securing a new £30 million funding package.
FBC Manby Bowdler has struck a deal with private equity house Horizon Capital which will support, among other work, the launch of its new office in Knowle and the creation of 20 jobs.
The practice said the injection of capital followed turnover hitting £16 million in the past year, with expected growth of ten per cent a year.
FBC Manby Bowdler has offices in Redditch, Wolverhampton and Shropshire. It will be the founding firm of Horizon Capital's new Adeptio Law Group but will retain its own identity going forward.
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Chief executive Neil Lloyd said: "We're really excited about this investment which not only allows us to maintain our impressive growth trajectory but also creates exciting opportunities for our people and our clients.
"We will be broadening our range of services and this allows us to create centres of expertise across our expanded network.
"This is a really positive move for our firm, for the 200-strong team we have here and for our clients who will continue to receive the same stellar service we're famous for.
"While they'll continue to work with the same trusted teams they know, they'll now have the backing of a larger, more diverse legal network.
"This means we can offer more comprehensive solutions to complex legal challenges."
Mr Lloyd added that the deal with Horizon Capital would enable staff to work with a broader client base and develop expertise in new areas of law.
"This investment allows us to create high-quality jobs, attract top legal talent to the area and provide world-class legal services to businesses and individuals in the Midlands and beyond."
Simon Hitchcock, managing partner of London-based Horizon Capital, added: "We are excited to partner with FBC Manby Bowdler in this next phase of its growth.
"The firm's strong regional presence, coupled with its impressive growth record, makes it an ideal cornerstone for our new legal services group.
"We look forward to supporting the team in realising their ambitious expansion plans and contributing to the vibrant Midlands economy."
