Mace Group has sold a majority investment in its programme management consultancy business, Mace Consult, to a Goldman Sachs private equity fund.
The separation leaves Mace as a pure-play main contractor, focused on the UK.
The price was not disclosed.
Over recent years Mace Consult has expanded internationally. In 2024 it generated 拢687m of revenue and employs more than 5,200 people across Europe, the Americas, Asia Pacific and the Middle East and Africa.
Davendra Dabasia will continue to lead Mace Consult as chief executive of the independent business.
The sale of Mace Consult comes less than two years after Mace sold its facilities management arm, Mace Operate, to its management team.
Several Mace Group shareholders, including executive chair Mark Reynolds and chief executive Jason Millett, will retain a minority stake in Mace Consult and sit on the new Mace Consult board alongside Goldman Sachs representatives. Mark Reynolds will be chair.
Mace Consult is the most profitable part of the Mace Group. It made a pre-tax profit of 拢77.7m in 2024 on revenue of 拢687m. The contracting division, Mace Construct, by contrast, made a profit before tax of just 拢15.7m on revenue of 拢2.1bn.
Group executive chair Mark Reynolds said: 鈥淭his transaction is a key milestone in securing the long-term future of Mace Consult, enabling the next phase of growth for our global consultancy practice. The shareholders, the board and I are extremely proud of the progress we鈥檝e made collectively to achieve this outcome.
鈥淪ince 1990, and accelerating since the success of the London 2012 Olympics, Mace Consult has transformed the industries it serves, delivering to exceptional standards and redefining the boundaries of ambition. We have established a foundation to enable the business to flourish for decades to come.鈥�
Jose Barreto, partner within Private Equity at Goldman Sachs Alternatives, added: 鈥淲e are delighted to invest in Mace Consult and accelerate its growth trajectory as an independent business both organically and through strategic acquisitions. Through the global Goldman Sachs network and value acceleration resources, we see the potential to support Mace in delivering critical client outcomes during this period of heightened uncertainty and transformation.鈥�
Mace Consult chief executive Davendra Dabasia said: 鈥淚 am excited to lead Mace Consult on this next stage in our journey, working in close partnership with Goldman Sachs Alternatives. Our teams around the world have delivered exceptional growth over the past few years, and our new partnership will enable us to build on that to become the world鈥檚 leading delivery consultant.
鈥淎s a standalone business, we will be positioned to further support our global infrastructure and built environment clients by scaling up at pace in North America and enhancing our digital solution delivery for clients.
The transaction is subject to regulatory approvals and is expected to close in 2025.
Got a story? Email news@theconstructionindex.co.uk
