The deals ends a feud between various family members, who together owned 89 per cent of the equity, over the future of the company.

Keith Miller, group chief executive, said:

“When we needed to find a strong shareholder to partner our business, Bank of Scotland was the first port of call. The Bank of Scotland clearly understands our business and has the confidence to invest through the cycles, for the long term. I am delighted with this outcome and welcome the Bank as a valued equity investor. I believe they will add a huge amount of value to the Group going forward."