The Birmingham office of law firm Shoosmiths has advised investment group Octopus Ventures on its eighth consecutive deal.

Shoosmiths’ Birmingham team was led by corporate partner Alastair Peet, with assistance from solicitor John Finnemore.

It advised Octopus on its part in an investment of nearly £1 million into Phasor Solutions.

Octopus arranges investments on behalf of its venture capital trust funds and a group of Enterprise Investment Scheme investors from the Octopus Investor Group, a unique body of high-net worth individuals with entrepreneurial or traditional business backgrounds.

Each body invests in businesses within specific parameters to obtain maximum tax relief and substantial returns on capital. Phasor Solutions, formed in July 2005, has developed a new way of producing flat panel aerials that makes them cheaper to produce. The aerials are fitted to the top of trains so mobile phones can be used on board.

It was the second investment made in the company by Octopus.

Mr Peet said: “Having the opportunity to advise our client on yet another deal and at such a difficult economic time, has been exciting for all those involved.

“Octopus has remained consistent in its bucking of the present market trend by continuing to provide significant investment into exciting projects around the UK, and it’s great to know that we’ve played a part in helping them do so.”

Alex Macpherson, chief executive of Octopus Ventures, said: “Shoosmiths continues to combine top quality legal advice with a real understanding of our business and our particular commercial needs. It’s this ability to work very closely with us, from inception to completion that sets Shoosmiths apart in our experience.”

“Alastair Peet and John Finnemore have advised Octopus Ventures on eight transactions in the last eight months and have consistently provided top quality legal, commercial, and transaction advice. Over and above this, they are good guys who we enjoy working with.”

The corporate team at Shoosmiths has recently taken on a new partner, with the appointment of Crispin Bridges Webb from Eversheds.

He moved across to Shoosmiths from his role as partner and head of corporate at the Nottingham office of Eversheds which he joined in 1995. He will be based in Shoosmiths’ Nottingham office but will work with the whole Midlands Corporate team across Nottingham, Birmingham and Northampton.