Mace Group announces majority investment in Mace Consult from Goldman Sachs Alternatives
Goldman Sachs Alternatives (NYSE:GS) has announced a majority investment in Mace Consult through a carve-out from Mace Group. Mace Consult, which generated 拢687 million ($859 million) in revenue in 2024 and employs over 5,200 people globally, will become an independent business under the continued leadership of CEO Davendra Dabasia.
The company has a strong track record in managing complex infrastructure projects worldwide, including the Hudson Tunnel Project, Qiddiya, and the New Hospitals Programme. The partnership aims to accelerate Mace Consult's growth through strategic acquisitions in key markets, leveraging Goldman Sachs' global network. Mace Group's Executive Chair Mark Reynolds and other shareholders will retain a minority stake and continue their involvement through board positions.
Goldman Sachs Alternatives (NYSE:GS) ha annunciato un investimento di maggioranza in Mace Consult tramite uno spin-off da Mace Group. Mace Consult, che ha generato 687 milioni di sterline (859 milioni di dollari) di ricavi nel 2024 e impiega oltre 5.200 persone a livello globale, diventer脿 un'azienda indipendente sotto la guida continuativa del CEO Davendra Dabasia.
L'azienda vanta una solida esperienza nella gestione di progetti infrastrutturali complessi in tutto il mondo, tra cui il progetto Hudson Tunnel, Qiddiya e il New Hospitals Programme. La partnership mira ad accelerare la crescita di Mace Consult attraverso acquisizioni strategiche in mercati chiave, sfruttando la rete globale di Goldman Sachs. Mark Reynolds, Executive Chair di Mace Group, e altri azionisti manterranno una quota di minoranza e continueranno a partecipare attraverso posizioni nel consiglio di amministrazione.
Goldman Sachs Alternatives (NYSE:GS) ha anunciado una inversi贸n mayoritaria en Mace Consult mediante una escisi贸n de Mace Group. Mace Consult, que gener贸 687 millones de libras (859 millones de d贸lares) en ingresos en 2024 y emplea a m谩s de 5.200 personas a nivel mundial, se convertir谩 en un negocio independiente bajo el liderazgo continuo del CEO Davendra Dabasia.
La empresa cuenta con un s贸lido historial en la gesti贸n de proyectos de infraestructura complejos en todo el mundo, incluyendo el Proyecto del T煤nel Hudson, Qiddiya y el Programa de Nuevos Hospitales. La asociaci贸n busca acelerar el crecimiento de Mace Consult mediante adquisiciones estrat茅gicas en mercados clave, aprovechando la red global de Goldman Sachs. Mark Reynolds, presidente ejecutivo de Mace Group, y otros accionistas mantendr谩n una participaci贸n minoritaria y continuar谩n involucrados a trav茅s de posiciones en la junta directiva.
瓿摐毵� 靷姢 鞏柬劙雱堩嫲敫岇姢(NYSE:GS)電� 氅旍澊鞀� 攴鸽９鞐愳劀 攵勳偓頃� 氅旍澊鞀� 旎劋韸�鞐� 雽�頃� 雼れ垬 歆�攵� 韴瀽毳� 氚滍憸頄堨姷雼堧嫟. 氅旍澊鞀� 旎劋韸鸽姅 2024雲勳棎 6鞏� 8,700毵� 韺岇毚霌�(8鞏� 5,900毵� 雼煬)鞚� 毵れ稖鞚� 旮半頄堨溂氅� 鞝� 靹戈硠鞝侅溂搿� 5,200氇� 鞚挫儊鞚� 歆侅洂鞚� 瓿犾毄頃橁碃 鞛堨姷雼堧嫟. 鞎烄溂搿� CEO 雼る菠霌滊澕 雼る皵鞁滌晞鞚� 歆�靻嶌爜鞚� 毽崝鞁� 鞎勲灅 霃呺鞝侅澑 靷梾觳搓皜 霅� 鞓堨爼鞛呺媹雼�.
鞚� 須岇偓電� 項堧摐鞀� 韯半剱 頂勲鞝濏姼, 韨る敂鞎�, 鞁犽硲鞗� 頂勲攴鸽灗 霌� 鞝� 靹戈硠 氤奠灐頃� 鞚疙攧霛� 頂勲鞝濏姼 甏�毽棎 臧曤牓頃� 鞁れ爜鞚� 氤挫湢頃橁碃 鞛堨姷雼堧嫟. 鞚措矆 韺岉姼雱堨嫮鞚� 瓿摐毵� 靷姢鞚� 旮�搿滊矊 雱ろ姼鞗岉伂毳� 頇滌毄頃橃棳 欤检殧 鞁滌灔鞐愳劀 鞝勲灥鞝� 鞚胳垬毳� 韱淀暣 氅旍澊鞀� 旎劋韸胳潣 靹膘灔鞚� 臧�靻嶍檾頃橂姅 瓴冹潉 氇╉憸搿� 頃╇媹雼�. 氅旍澊鞀� 攴鸽９鞚� 鞚搓犯鞝滍亹韹半笇 觳挫柎鞚� 毵堩伂 霠堨澊雴�歃堨檧 旮绊儉 欤检＜霌れ潃 靻岇垬 歆�攵勳潉 鞙犾頃橂┌ 鞚挫偓須� 歆侅眳鞚� 韱淀暣 瓿勳啀 彀胳棳頃� 鞓堨爼鞛呺媹雼�.
Goldman Sachs Alternatives (NYSE:GS) a annonc茅 un investissement majoritaire dans Mace Consult via une scission de Mace Group. Mace Consult, qui a g茅n茅r茅 687 millions de livres sterling (859 millions de dollars) de revenus en 2024 et emploie plus de 5 200 personnes dans le monde, deviendra une entreprise ind茅pendante sous la direction continue du PDG Davendra Dabasia.
L'entreprise poss猫de une solide exp茅rience dans la gestion de projets d'infrastructure complexes 脿 travers le monde, notamment le projet du tunnel Hudson, Qiddiya et le New Hospitals Programme. Ce partenariat vise 脿 acc茅l茅rer la croissance de Mace Consult par des acquisitions strat茅giques sur des march茅s cl茅s, en tirant parti du r茅seau mondial de Goldman Sachs. Mark Reynolds, pr茅sident ex茅cutif de Mace Group, ainsi que d'autres actionnaires conserveront une participation minoritaire et continueront de s'impliquer via des postes au conseil d'administration.
Goldman Sachs Alternatives (NYSE:GS) hat eine Mehrheitsbeteiligung an Mace Consult durch eine Ausgliederung von Mace Group bekanntgegeben. Mace Consult, das im Jahr 2024 einen Umsatz von 687 Millionen Pfund (859 Millionen US-Dollar) erzielte und weltweit 眉ber 5.200 Mitarbeiter besch盲ftigt, wird unter der weiterhin bestehenden F眉hrung von CEO Davendra Dabasia zu einem eigenst盲ndigen Unternehmen.
Das Unternehmen verf眉gt 眉ber eine starke Erfolgsbilanz bei der Verwaltung komplexer Infrastrukturprojekte weltweit, darunter das Hudson-Tunnel-Projekt, Qiddiya und das New Hospitals Programme. Die Partnerschaft zielt darauf ab, das Wachstum von Mace Consult durch strategische Akquisitionen in wichtigen M盲rkten zu beschleunigen, wobei das globale Netzwerk von Goldman Sachs genutzt wird. Mark Reynolds, Executive Chair von Mace Group, und weitere Anteilseigner behalten eine Minderheitsbeteiligung und bleiben 眉ber Vorstandsposten involviert.
- None.
- Transaction subject to regulatory approvals with closing uncertainty
- Potential integration and transition risks as Mace Consult becomes independent
- Execution risks associated with planned strategic acquisitions
Insights
Goldman Sachs' acquisition of Mace Consult strengthens its alternatives portfolio with a profitable infrastructure consultancy showing strong growth potential.
This strategic carve-out by Goldman Sachs Alternatives represents a significant addition to their private equity portfolio. Mace Consult brings 拢687 million (
The transaction structure is particularly noteworthy - while Goldman gains majority control, key Mace Group executives including Executive Chair Mark Reynolds and CEO Jason Millett will retain minority stakes and board positions, ensuring continuity of leadership expertise and institutional knowledge. This hybrid approach reduces transition risks typically associated with complete ownership changes.
Mace Consult's impressive track record on high-profile infrastructure projects (Hudson Tunnel, Qiddiya, London Olympics) demonstrates proven execution capabilities in complex environments. The mention of "sustained double-digit organic growth" over a decade indicates this isn't merely an established business but one with significant momentum, making the timing strategic for Goldman's entry.
The stated focus on "strategic acquisitions to bolster presence in key growth markets" signals this isn't merely a standalone investment but a platform play. Goldman clearly sees Mace Consult as a foundation for consolidating fragmented portions of the global infrastructure consulting market, leveraging their capital access to accelerate inorganic growth beyond what Mace Group could accomplish independently.
With infrastructure spending accelerating globally due to aging systems, climate adaptation needs, and economic stimulus initiatives, this positions Goldman advantageously in a sector with strong secular tailwinds and relatively predictable cash flows - characteristics highly valued in private equity portfolios.
The carve-out of Mace Consult represents a classic private equity growth acceleration strategy. By separating the consulting business from Mace Group, Goldman Sachs creates a focused entity that can pursue specialized growth avenues while maintaining strategic alignment through board representation from original leadership.
This transaction demonstrates sophisticated market-entry timing. The infrastructure consulting sector is experiencing significant demand growth driven by four converging mega-trends explicitly mentioned: climate change adaptation, technological disruption, demographic shifts, and urbanization. These forces create sustained demand for specialized program management across both developed markets (addressing aging infrastructure) and emerging economies (building new capacity).
The geographic footprint is particularly compelling - Mace Consult's established presence across four global hubs (Europe, Americas, Asia Pacific, Middle East/Africa) provides immediate scale that would take years to build organically. This global platform enables rapid deployment of Goldman's capital into diverse infrastructure markets simultaneously, rather than sequential expansion.
From Mace Group's perspective, this transaction likely represents value realization for shareholders while securing growth capital that might have been constrained within the larger organization. The retained minority stake creates ongoing participation in future upside while deploying capital to other strategic priorities.
The emphasis on digital solution delivery aligns with broader industry digitization trends, suggesting Goldman sees opportunity in technological transformation of traditional infrastructure delivery methods. This technology modernization angle potentially creates differentiation in a sector often characterized by commoditized services and fee pressure.
The regulatory approval requirement indicates potential national security or competition considerations given infrastructure's strategic importance, but represents standard process rather than exceptional concern.
Mace Consult is a critical delivery partner for the world's most complex and marquee infrastructure and built environment projects, including the Hudson Tunnel Project in
Over the last three decades, Mace Consult's expert teams have advised clients on the development and delivery of iconic programmes around the world; from global mega-events such as the
A number of Mace Group's shareholders, including Executive Chair Mark Reynolds and Mace Group CEO Jason Millett, will retain a minority stake in Mace Consult and will work closely with Goldman Sachs Alternatives as members of the new Mace Consult Board. Mark Reynolds will be appointed Chair.
Building on over a decade of sustained double-digit organic growth and an expansion into delivering major programmes across the
Mark Reynolds, Mace Group's Executive Chair, said:
"This 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've made collectively to achieve this outcome.
"Since 1990, and accelerating since the success of the
Jose Barreto, Partner within Private Equity at Goldman Sachs Alternatives, added:聽
"We 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.
Davendra Dabasia, Mace Consult's CEO, said:
"I 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's leading delivery consultant.
"As a standalone business, we will be positioned to further support our global infrastructure and built environment clients by scaling up at pace in
Alex Mass, Managing Director within Private Equity at Goldman Sachs Alternatives, added:聽
"The long-dated trends of climate change, technological disruption, demographic shifts and urbanisation represent one of the fundamental project delivery challenges in history, requiring innovative management approaches, as demonstrated by Mace Consult over the years.
"As an independent business, Mace Consult is distinctly positioned to support clients in unlocking the full potential of every project around the world - and we are proud to support the employees of Mace Consult in this journey."
Mace Group was advised by UBS (M&A) and Linklaters (Legal). Goldman Sachs Alternatives was advised by Lazard (M&A and Financing), Jefferies International Limited (M&A) and White & Case (Legal).
The transaction is subject to regulatory approvals (amongst other conditions) and is expected to close in 2025.
About Private Equity at Goldman Sachs Alternatives
Goldman Sachs (NYSE: GS) is one of the leading investors in alternatives globally, with over
The business is driven by a focus on partnership and shared success with its clients, seeking to deliver long-term investment performance drawing on its global network and deep expertise across industries and markets.
The alternative investments platform is part of Goldman Sachs Asset Management, which delivers investment and advisory services across public and private markets for the world's leading institutions, financial advisors and individuals. Goldman Sachs has approximately
Established in 1986, Private Equity at Goldman Sachs Alternatives has invested over
About Mace Group
Mace Group is a global company of programme and project delivery consultants and construction experts.
Through its two engines 鈥� Consult and Construct 鈥� it provides a range of delivery-focused services across the property and infrastructure sector, bringing to life iconic skyscrapers, hyper-scale regeneration projects, state-of-the-art data centres, life science facilities, and social infrastructure that supports communities across the world.
Mace Group has an annual turnover of
View original content to download multimedia:
SOURCE Mace Group
FAQ
What is Goldman Sachs' (NYSE:GS) investment in Mace Consult?
How much revenue did Mace Consult generate in 2024?
Who will lead Mace Consult after Goldman Sachs' investment?
What are Mace Consult's major current projects?
What is the strategic rationale for Goldman Sachs' investment in Mace Consult?
