Deal announcement: Kingsbrook UK Ltd is pleased to have advised on the sale of Badwater Ltd/JMP Construction to Ryder Holdco Ltd/Graham + Sibbald.
JMP Construction and SID Asset Management are both subsidiaries of Badwater Ltd. JMP is a Scotland-based construction and property consultancy, providing building and Quantity Surveying services to the social housing sector. SID Asset Management is a software development company, providing unique asset management software to the Scottish Housing Association sector.
Graham + Sibbald (G+S) is one of the UK’s leading property consultancy services.
Luke Rebbettes, a Kingsbrook Director and Lead Advisor on the project, said of the deal:
“This was a strategic acquisition for Graham + Sibbald, strengthening its technical services capability while adding a genuinely differentiated, technology-led offering in the social housing space. For JMP, the transaction provides the scale, geographic reach and investment backing to accelerate the rollout of its platform and deliver its services to a much broader client base.”
Graeme Reed, founder of JMP, said:
“I want to thank Kingsbrook for their commitment and stamina in pushing this through. The deal has secured the long-term future for my staff and financial security for me and my family.”
Calum Campbell, Managing Partner at Graham + Sibbald said of the deal in their press release:
“Adding JMP’s offering to our suite of services across the UK further strengthens what we already have and allows us to diversify into a new areas under our Technical Services department. JMP have worked hard to develop and roll out their specialist system which is another asset to add to our offering.”
Graham + Sibbald’s press release can be seen here: https://g-s.co.uk/graham-sibbald-acquires-jmp-construction-and-property-consultants-following-aitchison-raffety-acquisition/.
The deal completed on 5th March 2026.
