Goldman Sachs Alternatives Investments in Mace Consult Signals New Growth Era

Mace Group Secures Investment from Goldman Sachs Alternatives

In a significant move, Mace Group has declared a majority investment in Mace Consult made by Private Equity at Goldman Sachs Alternatives, marking a pivotal shift towards enhancing Mace Consult's independent growth trajectory. This investment was executed through a carve-out from the broader Mace Group, positioning Mace Consult in a prime place for future expansion.

Mace Consult is a strategic partner on premier infrastructure projects around the world, from the vital Hudson Tunnel Project in New York to the ambitious Qiddiya development in Saudi Arabia. The firm has established itself as a key player by delivering complex undertakings, including the New Hospitals Programme in the UK. With recent revenues reported at £687 million (approximately US$859 million) in 2024, the company employs over 5,200 professionals across hubs in Europe, the Americas, Asia Pacific, and the Middle East and Africa.

Continuing to spearhead Mace Consult is CEO Davendra Dabasia, who has expressed enthusiasm for the new opportunities that this partnership presents. "We are excited to enter this next phase of our journey with Goldman Sachs Alternatives, allowing us to bolster our capabilities and enhance our services for our global clients in the infrastructure and built environment sectors," he stated.

Mace Consult's success over three decades includes involvement in renowned events like the London 2012 Olympic and Paralympic Games, and it has also facilitated substantial infrastructure investments, such as the Metrolinx GO and Subways rail programs in Canada. Mark Reynolds, Executive Chair of Mace Group, emphasized the importance of this transaction for securing Mace Consult's long-term future. He remarked, "This partnership marks a crucial milestone for us, allowing Mace Consult to thrive in the expanding consultancy landscape."

Several shareholders from Mace Group, including Reynolds and CEO Jason Millett, will retain minority stakes in Mace Consult and will collaborate closely with Goldman Sachs Alternatives on the new board, with Reynolds taking on the role of Chair.

The investment is expected to catalyze Mace Consult's aim of achieving strategic acquisitions that strengthen its presence in key international markets. Looking back, Mace Consult's expansion has seen over a decade of consistent double-digit growth, especially in managing large-scale programmes across various regions.

Jose Barreto, a partner at Goldman Sachs Alternatives, shared his excitement regarding the investment: "We look forward to accelerating Mace Consult's growth as an independent entity through strategic and organic means. We believe in harnessing the talents of Mace Consult to help address the growing challenges in project delivery that the world faces today."

The urgency of managing climate change, technological advancements, demographic shifts, and urbanization presents unique challenges that Mace Consult is well-equipped to address, thanks to its innovative approaches developed over years of service.

The completion of the transaction hinges on regulatory approvals and other necessary conditions, with expectations to finalize by 2025. This partnership underscores Goldman Sachs' commitment to investing in high-potential ventures while providing Mace Consult with the resources to operate on a global scale.

Established in 1986, Goldman Sachs Alternatives has cemented its legacy as a leading investor in alternatives with over $500 billion in assets. Mace Group serves as a global provider of project management and consultancy services, reported an annual turnover of £2.79 billion (approximately US$3.49 billion), employing more than 8,100 professionals worldwide. Mace's distinct capabilities span across properties and infrastructural sectors, delivering innovative solutions that are redefining cityscapes and communities globally.

For more detailed information on Mace Group’s offerings and achievements, visit Mace Group's official website.