Mace Group has announced a major restructure – including the sale of its FM business.
The Group’s facilities management (FM) business, Mace Operate, will become an independent FM company employing more than 700 people and with an annual turnover of £120 million, called Macro.
The management buy-out (MBO) of its FM arm was led by Operate’s CEO Ross Abbate, financial director Chris Bampton, and Mark Holmes, who will step down as Mace Group’s deputy chairman to become chairman of Macro.
“Over the past twenty years, Macro has established itself as a leading facilities management expert under the umbrella of the Mace Group – and now, as an independent company we will be able to build on that success to invest in new and transformed services for our clients and create fantastic new opportunities for Macro colleagues across the globe,” said Abbate.
He added: “Chris and I are thrilled to have the opportunity to lead this brilliant team on the next step in our journey together.”
The Group will also downsize from four businesses to two – consultancy and construction.
Mace Consult CEO, Jason Millett, is to become the new deputy CEO of the Group in January, while retaining oversight of Consult alongside chief operating officer, Davendra Dabasia.
Mace said this will allow greater investment in its core service offerings, and as it targets turnover of more than £3 billion in 2026.
It also seeks to invest more in its digital, net-zero carbon, and Modern Methods of Construction (MMC) capabilities, and to expand across the UK and Europe, Asia Pacific, the Americas, the Middle East and Africa.
Millett will also lead Vision 2030, a strategy that will shape the future of the Group over the next seven years.
The Group has significantly reduced its development activities over the past two years, focussing instead on a small number of town centre regenerations and consultancy services.
“Mace’s core expertise has always been in delivering the complex and challenging projects and programmes that have shaped the last thirty years of our growth,” said Mark Reynolds, Mace Group chairman and chief executive.
“Our purpose – to redefine the boundaries ambition – challenges us to continue to push for transformational change in our industry and global growth – and with our new structure in place we’ll now be looking beyond the next few years to a step-change in our scale and capabilities by 2030.
“Our ambition is to be the leading company of global programme and project delivery consultants and construction experts, and I look forward to working with Jason in his new role and the wider Mace team over the next few years to make that a reality.”
Mace was approached for further comment.
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