A law firm from Gloucestershire has revealed its part in raising £3.5 million for a major player in the graphic arts sector.

Gloucestershire law firm BPE Solicitors has acted for Allenby Capital Limited, a nominated adviser and broker for the AIM market in a deal that raised approximately £3.5 million for Grafenia plc.

Grafenia plc is the company behind the Nettl network of web studios - including those situated in Cheltenham, in Clarence Street, and Westgate St, Gloucester.

Louise Grzasko, senior associate at Cheltenham-headquartered BPE, said: "It was fantastic to be able to work with Allenby Capital.

"Our team is very comfortable acting for clients joining or already quoted on the AIM market and our familiarity with the procedures made for a smooth transition to working for the nominated adviser and broker."

This is the eighth AIM related deal BPE has acted on in the past 12 months alone and takes the total deal value for AIM transactions handled by the Corporate team to more than £48 million in the same period.

Anthony Rudge (pictured), equity partner in the corporate team at BPE, said: "BPE has a strong reputation for working with companies on transactions involving the AIM market. It's great to be doing deals like this, and really underlines the strength of our team here in Cheltenham."

London-based Allenby Capital Limited is employee-owned and provides brokerage and advisory services to help raise finance for fast growing companies, especially those looking to join AIM.

This most recent deal builds on the experience of the Corporate team in BPE; having acted for a large number of AIM company clients, this represents the first time the firm has acted for the nominated adviser and broker.