Services deals, more Americans, and Baaj not paying up for In The Style Fashion
Our weekly free round up of key deals and major moves in the Rainmakers world
Hello Rainmakers,
We’ve got news of more US buyers this week on top of the shock news that Clearwater UK had agreed a sale with KeyBank, and more professional services consolidation.
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Leicester-based Impact HR Consulting has made a staff acquisition of Cardiff firm EffectiveHRM as it looks to recruit a bigger UK footprint.
The deal gives Impact a new base in Wales, adding to its offices in Leicester, Leeds and Essex as it continues building a national HR advisory business for SMEs.
EffectiveHRM, founded in 2011 by employment lawyer Emma del Torto, supports more than 150 businesses and will continue trading under its current name.
Del Torto will join Impact’s leadership team, while all 12 employees will transfer across - making it a takeover where everyone kept their seat at the desk.
Chief executive Greg Guilford said the move strengthens the firm’s ability to deliver HR and health and safety services nationwide and supports further growth through acquisitions and organic expansion.
Del Torto said joining Impact would help accelerate growth while maintaining the practical, high-quality advice clients expect.
So while some deals cut jobs, this one simply added to the headcount.
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With the headlines depressingly full of stories about AI being used to steal people’s jobs, it is refreshing to hear about backing for a Yorkshire AI consultancy doing something more constructive. York-based Zest Consult originated in a vision to use AI to transform safety and security across public services. It has now secured £100,000 from NPIF II - BEF Smaller Loans, which is managed by Business Enterprise Fund (BEF) as part of the Northern Powerhouse Investment Fund II.
Zest Consult has been working with partners including Transport for London and Cardiff City Council, focusing on using AI to detect antisocial and violent behaviour - particularly to protect vulnerable people. One of the firm’s current projects aims to use AI on buses to identify violent or threatening behaviour against women and girls. Company founder, Geoff Hoyle, says the NPIF II support means he can focus on accelerating product development, paying engineers, acquiring equipment and securing office space at York Science Park.
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Texas-based Shrieve Chemical Company has acquired Aberdeen’s FIS Chemicals.
Founded in 1980, FIS formulates, manufactures and distributes chemical solutions for sectors such as oil and gas, renewables, marine, hospitality and logistics.
The deal also provides an exit for Foresight Group and Maven Capital Partners, achieving a 4.2 times return on invested capital.
https://www.thebusinessdesk.com/scotland/news/3535-aberdeen-chemicals-firm-bought-by-us-group
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Accountancy group DJH has balanced the books on another acquisition, snapping up Loucas as it continues its South East expansion.
The Stoke-on-Trent firm, backed by Tenzing, has followed last year’s McBrides purchase with its second regional deal - proving it’s serious about making the numbers add up down south.
Founded in 1974, Loucas grew from a one-desk practice into a multi-site business and will now join the DJH fold.
It marks DJH’s 20th acquisition since 2020 and takes the total headcount across the UK and Ireland to more than 800 staff.
Chief executive Scott Heath said the move delivers the broad South East presence the group has been working towards.
Local leadership stays in place, with Athos Louca continuing as managing director - so it’s less audit shake-up, more smooth transition.
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Finally, another deal that seems to be unravelling is the supposed rescue of ailing fashion retail business In The Style fashion, where the buyer has now missed four months worth of payments.
Research by TheBusinessDesk.com has also revealed that the buyer, Alps Sourcing Ltd, is overdue in filing its accounts for the year to the end of June 2025.
The progress report by administrators FTS shows that Alps Sourcing agreed to buy In The Style Fashion for £220,000, based on £75,000 on completion, then £70,000 in 7 equal monthly payments of £10,000, and £75,000 to be in the form of credit against a fixed charge debt.
However, the purchaser has not paid the deferred consideration and there are now currently 4 months worth of payments outstanding.
Administrator Marco Piacquadio, from insolvency practitioner FTS, says in the report: “We will instruct legal firm JMW Solicitors to seek recovery of the sums due from the guarantor in the absence of payment from the purchasing entity.”
In March 2025 we reported that the fashion retailer, which markets heavily through influencers, had been sold in a pre-pack deal. Investor Baaj Capital rolled its investment into a new entity, after the Salford headquartered business briefly entered administration.
The acquiring company called “Alps Sourcing Limited” is controlled by Ajay Sidana and supplies fashion clothing to online and high street retailers and wholesalers.
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The North West, Yorkshire and West Midlands Rainmaker Awards are upon us, once again bringing together the region’s deals community to celebrate the standout deals, teams, and individuals of the past 12 months.
Voted for by the corporate finance community itself, the awards are decided on a one-firm, one-vote basis – making the Rainmaker a genuine peer-led recognition.
The Rainmaker Awards ditch black-tie formality and speeches in favour of a relaxed evening focused on what the deals and the people who made them happen.
The evening is also a great way to connect with leading firms and individuals shaping the regional deal landscape.
There is a new individual category this year, as we will recognise Lifetime Achievement of one of our Rainmakers for the first time.
The 2026 Yorkshire awards are on June the 11th at New Dock Hall in Leeds, the North West awards will take place on the 25th of June 2026 at the Kimpton Hotel in Manchester city centre, and the West Midlands at the Burlington Hotel in Birmingham on the 2nd of July.
Last year sold out, so book early to secure your table.
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