What's Happening?
Graham + Sibbald, a property consultancy firm founded in Dundee in 1959, has announced an acquisition financed through a private equity deal with Foresight Group. This acquisition is expected to increase the firm's annual revenue from £25 million to nearly £35 million. The deal will create a combined business with over 370 employees operating from 26 locations across Scotland and major cities in England. The acquisition follows the firm's previous acquisition of London chartered surveying firm Keningtons in 2022. Aitchison Raffety, the acquired firm, employs more than 100 people across nine offices in England and will bring new service lines, including healthcare, to Graham + Sibbald.
Why It's Important?
This acquisition is significant as it positions Graham + Sibbald to offer a more comprehensive range of services across the UK, enhancing its competitive edge in the property consultancy market. The integration of Aitchison Raffety's services, particularly in healthcare, could open new revenue streams and client bases. The deal also reflects a broader trend of consolidation in the property consultancy sector, driven by the need for firms to expand their service offerings and geographic reach to remain competitive. The increased revenue and expanded workforce could lead to greater market influence and operational efficiencies for Graham + Sibbald.
What's Next?
Graham + Sibbald and Aitchison Raffety will continue to operate as separate entities until they are fully integrated under the Graham + Sibbald name in early 2026. This integration process will likely involve aligning the firms' operations, cultures, and service offerings. Stakeholders, including clients and employees, may need to adapt to the changes brought about by the merger. The firm may also explore further acquisitions or partnerships to continue its growth trajectory and enhance its service capabilities.
