Mace consulting division sold to Goldman Sachs

Mace has divested its consulting operation to Goldman Sachs.

Mace sells consulting business to Goldman Sachs

Mace has finalized the sale of its consulting business to Goldman Sachs, creating a standalone operation for its construction segment. The results for the year ending December 31, 2024, indicated that the consulting division was crucial for profits, especially after the construction segment faced significant losses from a problematic project. The agreement allows 5,200 employees to transition under Goldman Sachs Alternatives, with Mace Consult reporting revenue of £687 million in 2024. Davendra Dabasia will remain as CEO of the newly independent Mace Consult, while key Mace shareholders will maintain a minority stake and play roles on the new board, with Mark Reynolds taking the position of Chair. Mace Construct, which operates independently, recorded £2.1 billion in revenue and will focus on financial stability and growth after the separation. Reynolds described the transaction as vital for Mace Consult's future, while Millett highlighted the importance of simplifying business operations.

The sale of Mace's consulting division marks a strategic shift focusing on operational efficiency amid financial challenges. With Mace Construct now positioned to operate debt-free, it offers a lesson in adaptability for firms in turbulent market conditions. This separation allows both entities to tailor their strategies to better meet client needs and navigate market demands. On the other hand, Goldman Sachs gains a significant stake in the consulting domain, enhancing its investment profile. The leadership at Mace will play a pivotal role in ensuring a smooth transition that benefits all stakeholders involved.

Highlights

Mace's future looks promising with a tailored approach to growth for both businesses.