Bristol law firms Veale Wasbrough Vizards and Bond Pearce have provided legal advice in a £1.15m investment deal for high-growth IT firm Gradwell that aims to make it four times its current size in just four years.
The Bath-based firm, which provides VoIP (Voice over Internet Protocol) telephony and internet services to mainly small businesses, was founded in 1998 by Dr Peter Gradwell while still a student. Since then it has grown into a £5m turnover business with 60 staff and 12,000 clients.
The £1.15m investment, from Southampton-based equity fund Altitude Partners, will enable Gradwell to grow significantly by scaling its technology and expanding its customer base.
The deal triggers a so-called 4×4 growth plan – it will make the company four times larger in four years
Veale Wasbrough Vizards provided legal advice to Gradwell. Bond Pearce, which also has an office in Southampton, advised Altitude Partners.
