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Adam and Stephen discuss investment for a law firm, a major development close to Old Trafford and a funding deal led by the family office of Spotify's founder

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00:00Investment for a law firm, major development close to Old Trafford and a

00:04funding deal led by the family office of Spotify's founder, featuring today's

00:07business briefing.

00:13So Adam, what's caught your eye this morning? Yes, we have a major deal in the

00:19Midlands involving a law firm, FPC Mandy Bowdler, a law firm which employs 200

00:25people, so of a significant size, has secured a £30 million investment

00:30from private equity firm Horizon Capital. Now this investment will be used to

00:36expand the firm, doubling its size in 18 months, that's the goal. The investment

00:42will include the creation of 20 jobs as well as the opening of a new office in

00:47Knoll near Solihull. FPC Mandy Bowdler will become the founding firm of Horizon

00:52Capital's new Adeptio Law Group, but each firm in the new group will maintain

00:58its own identity moving forward. Great stuff, I'm sure we'll be hearing more about them

01:01there. I'm sure, yeah. Well, over in the North West today we have news of a major

01:07development close to Old Trafford, the former Hilti HQ site off Trafford

01:11Wharf Road in Stratford. Plans have now been submitted there, we previously

01:17covered the public consultation and also the deal to acquire the site, so now

01:21Coal Waterhouse has submitted its planning application. Its plans include

01:26438 build-to-rent apartments, including affordable housing, student

01:32accommodation, a new higher education facility with teaching space, offices,

01:36student amenities and an on-site cafe. Two towers will be built there, two residential

01:42towers as well as new landscaped public space, and the

01:48development is expected to have a gross development value of about £200 million.

01:51The developers said that about 1,300 jobs could be created during the

01:57construction, as well as nearly 300 once it's operational, so potentially big

02:01impact from that scheme. The site is also part of Trafford

02:06Council's Wharfside Regeneration Area. Plans are there to build more than 5,000

02:12new homes. It's also the area that includes the potential new stadium for

02:15Manchester United, so a big regeneration area there in the North West.

02:19Certainly, and I'm sure Insider will be continuing to monitor the progress of

02:23the scheme. It's another deal from me, a funding round which involves a very

02:31interesting backer, N Industries Group, which is a business established to build

02:36a new group of quote best-in-class British industrial firms. Now N

02:42Industries will acquire majority stakes in small UK industrial

02:47companies, and said it will typically work with the existing management to

02:51help them be faster growing businesses. Now N Industries have actually

02:56secured a funding round led by the family office of Daniel Ek, the founder

03:02of Spotify, so definitely a significant backer there for the company.

03:07The funding round also involved a number of other investors, so definitely worth

03:12looking that up on Insider this morning. Well, sticking with the theme of

03:16deals, we're seeing a lot more employee ownership transactions. I think

03:20definitely, certainly we're seeing more and more every week. In Yorkshire

03:25today, we've got news of a manufacturer, a Sheffield-based manufacturer, becoming the

03:29latest business to move to employee ownership. So Armag was established in

03:341973, and it manufactures and supplies a range of power tool accessories, drill

03:39bits and other tools. The company's 55 staff are now going to be beneficiaries

03:44of the new Employee Ownership Trust. The company has emphasised that it's

03:48business as usual. The existing directors will continue to manage the company.

03:52They're also looking to bring forward the next generation of management, so

03:56very much emphasising it's about making sure that they're securing the long-term

04:01future of a already well-established business. It's an important deal as well

04:05for the deal-making community in South Yorkshire, so we've got a number of

04:09advisors there. We've got Laura from Blake Smith, Accountancy Practice Shorts, who

04:13both advised on that deal, so a really interesting one for South Yorkshire.

04:16Yeah, definitely a big day for deals overall. You can read about those deals

04:21and the property story Stevo mentioned on insidermedia.com, where you can

04:25subscribe to our newsletters and hear about upcoming events. Thank you.

Watch: Insider's Business Briefing - 29th October

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