Complex sentence: It was then acquired by the Climax Group in 1999, and was renamed Climax Brighton, until 2004 when it became Climax Racing, as the Climax Group rebranded its studios.
Split into simpler sentences: It was then acquired by the Climax Group in 1999 and was renamed Climax Brighton. In 2004 it became Climax Racing, as the Climax Group rebranded its studios.