Phil and Dan discuss an AI company expanding to Manchester, a tax firm's acquisition in Sheffield, and a British menswear brand opening at a South West shopping outlet.
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00:01A British menswear brand expands in the South West. Acquisitions by two finance businesses
00:07and an Irish IA firm invests in Manchester. All coming up in this morning's Business Briefing.
00:19Well, good morning.
00:20Morning, Phil.
00:21I'm Phil Cunliffe.
00:22I'm Daniel Zambartes.
00:24And Dan is the new content editor for the North West Business Insider, so congratulations, Dan.
00:29It's exciting times.
00:30Indeed.
00:31So, we've got some stories this morning that are in our newsletters.
00:35I'm going to start off with a story in our Yorkshire newsletter.
00:39This is concerning independent advisory firm Claritas Tax,
00:44which has acquired the UK tax incentives and reliefs business of Markel International.
00:50The business is based in Sheffield and employs 22 people,
00:53all of whom will transition to Claritas as part of the deal.
00:57Claritas Tax is based in various regional hubs, including London and Glasgow, as well as in Sheffield.
01:06The acquisition will significantly strengthen Claritas' business.
01:11The Sheffield team provides advice in relation to R&D tax relief, grants for innovation, capital allowances and patent box relief.
01:21So, really interesting acquisition of a business of another in the same type of sphere.
01:28I believe it's their first acquisition as well.
01:29I think it is.
01:30Quite a milestone.
01:31Yeah.
01:32So, there might well be some other acquisitions to come on their trail.
01:34To keep out and see.
01:35We shall indeed.
01:36You've got a story in Manchester, a very interesting one.
01:38Yeah, really well.
01:39AI is a growing area of interest for our readers and insider.
01:41It is indeed.
01:42And the international AI company Galvia is expanding into the UK with a new office in Manchester, aiming to create significant job growth in the region.
01:50It's actually headquartered in Galway in Ireland.
01:53Galvia will base its UK operations at the Touring Innovation Catalyst within Manchester's Science and Technology District.
01:59Galvia unifies business data and turns into connected intelligence that predicts and drives smarter decisions in real time.
02:06The Manchester office will focus on reinforcing the city's position as a growing hub for AI and digital innovation.
02:12Manchester City Council's leader, Beb Craig, welcomed the move and highlighted how initiatives like this unlock local innovation and support the city's £2 billion AI ecosystem, which already employs thousands.
02:25And you would expect in the coming years that for those numbers to grow in higher.
02:28To agree.
02:29And interesting, Manchester's innovation district is a £1.7 billion business area.
02:36So it's a real big focus and AI moving into that area is very interesting and big news for us.
02:43I understand you have another acquisition to tell us about.
02:45Yes, I have another acquisition of a finance company as well.
02:49This is involving businesses in the Midlands and the South East.
02:53This is Danes Group, which is a private equity backed accountancy business, has acquired another accountancy practice, Barnes Roth, which is headquartered in London,
03:02and looks after in excess of 2,000 owner-managed businesses.
03:06And becoming part of a national firm widens the service provision of Barnes Roth and increases the range of specialist services it can deliver.
03:14Danes, which is backed by private equity firm IK Partners, has four regional hubs and offices in the South East, the Midlands, Scotland and in Ireland,
03:25is on track to be a top 20 firm by the end of this year.
03:29So really another very interesting acquisition of one accountancy practice over another.
03:34And, you know, combining the skills and services they can offer is very exciting.
03:40Very good to see.
03:41So moving away from the deals into retail now, actually.
03:44A new British menswear brand is opening a store at Clark's Village Shopping Outlet in the South West this June.
03:50So the new Hackett London store, which will sell its classic quality menswear.
03:54We know all about quality menswear, of course.
03:56We would know all about that, won't we?
03:57We'll open on the 12th of June in the Apple Court Mall, right next to Sweaty Betty and the Perfume Shop.
04:02So Clark's Village has seen lots of new store openings in the past year, including eateries like Beals, Wagamama and Slim Chickens alongside the fashion brand French Connection.
04:11And other brands like Sunglass Hut, Raging Bull and the North Face have also expanded into bigger stores.
04:16While Osprey London has refreshed its shop.
04:18So interesting to see those changes when you think a lot of movement would be online these days.
04:23Yes, well, absolutely.
04:24It's over the death of the high street, but perhaps this is...
04:27Perhaps not.
04:28Yeah, we shall see and report on that, I'm sure.
04:30Well, I think that's all we have time for today.
04:32To read more on these stories, please visit insideinmedia.com, where you can subscribe to our magazine and find out about upcoming events.
04:38Have a good day.
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