Latest news with #DavendraDabasia
Yahoo
4 days ago
- Business
- Yahoo
Goldman Sachs Alternatives announces majority investment in Mace Consult
Goldman Sachs Alternatives has announced a majority investment through a carve-out in Mace Group division Mace Consult, which aims to become a global programme management consultant. Mace Consult, known for delivering complex infrastructure projects, will operate as an independent business under this new partnership. Davendra Dabasia will continue to lead as CEO of the business. In 2024, the company generated £687m ($930.7m) in revenue and employed over 5,200 people across Europe, the Americas, Asia-Pacific, and the Middle East and Africa. It is a key partner in significant infrastructure projects, including New York's Hudson Tunnel Project, the New Hospitals Programme in the UK, and Qiddiya in Saudi Arabia. Mace Consult has advised on programmes worldwide such as the London 2012 Olympic Games and Dubai Expo 2020 over the past 30 years. Several shareholders of Mace Group, including executive chair Mark Reynolds and CEO Jason Millett, will maintain a minority stake in Mace Consult. They will collaborate with Goldman Sachs Alternatives on the new Mace Consult board, with Reynolds appointed as chair. The partnership builds on Mace Consult's decade of growth and expansion into major programmes across various regions. The company plans to target strategic acquisitions to enhance its presence in key growth markets under this new partnership. Reynolds 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. 'Since 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.' Mace Group received advisory services from Linklaters and UBS while Lazard, Jefferies International, and White & Case advised Goldman Sachs Alternatives. Subject to regulatory approvals, the transaction is expected to conclude this year. In March 2025, Mace was appointed for the £140m extension of Pier 6 at London Gatwick Airport in the UK. "Goldman Sachs Alternatives announces majority investment in Mace Consult" was originally created and published by World Construction Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Zawya
6 days ago
- Business
- Zawya
Goldman Sachs Alternatives buys majority stake in Mace unit
Mace Group, a global construction business headquartered in London, has announced majority investment in its key unit Mace Consult by Private Equity at Goldman Sachs Alternatives through a carve-out from Mace Group. 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 New York, Qiddiya in Saudi Arabia and the New Hospitals Programme in the UK. The firm had generated AED3.4 billion ($925 million) of revenue in 2024 and employs more than 5,200 people across four global hubs: Europe, the Americas, Asia Pacific and the Middle East and Africa. Following the strategic Goldman Sachs deal, there is no change at the top as Davendra Dabasia will continue to lead Mace Consult as CEO of the independent business. "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," stated Dabasia. "As 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," he added. 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 London 2012 Olympic and Paralympic Games and Expo 2020 Dubai, to multi-billion dollar infrastructure investments such as the GO Expansion rail programme in Canada and the Reconstruction with Changes in Peru. 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 Americas, Europe, Asia Pacific and the Middle East and Africa, the new partnership will see Mace Consult target strategic acquisitions to bolster its presence in key growth markets. Reynolds 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 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," he added. Jose Barreto, Partner within Private Equity at Goldman Sachs Alternatives, said: "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," noted Baretto. Alex Mass, Managing Director within Private Equity at Goldman Sachs Alternatives, said: "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," he added. 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 expected to close in 2025.-TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
