Graham + Sibbald, the chartered surveyors and property consultancy firm, has acquired English company Aitchison Raffety in a deal backed by private equity manager Foresight Group.
Foresight’s investment will see Graham + Sibbald transition from a traditional partnership to a corporate structure and provide a platform for acquisitions, new offices and key lateral hires.
The acquisition of Aitchison Raffety creates a combined business of more than 370 employees operating in 26 locations, and increases Graham + Sibbald’s revenue from £25m to approximately £35m. Details of the deal were not disclosed.
Les McAndrew, senior partner at Graham + Sibbald, said: “We are excited to have secured investment from Foresight.
“Their support has enabled us to acquire Aitchison Raffety and will help further strengthen and grow our business as we look to replicate what we have done in Scotland across the whole of the UK.
“The new opportunities this brings everyone is genuinely very, very exciting”
Daniel Halliday, managing director at Foresight, said: “Graham + Sibbald is already a well known name in Scotland and there is a large untapped opportunity for consolidation in a fragmented market to become a leading player across the UK.”
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