Goldman Sachs Backs Mace Consult's Spin-out With Majority Stake

(RTTNews) - Mace Group has agreed to sell a majority stake in its programme management arm, Mace Consult, to Goldman Sachs Alternatives' Private Equity division of Goldman Sachs Group Inc. (GS) via a carve-out. The deal, expected to close in 2025, creates an independent consultancy poised to lead global infrastructure delivery.

In 2024, Mace Consult generated 687?million euros in revenue and employs over 5,200 staff across Europe, the Americas, Asia-Pacific, the Middle East, and Africa.

Its portfolio includes marquee projects such as New York's Hudson Tunnel, Saudi Arabia's Qiddiya development, and the UK's New Hospitals Programme. CEO Davendra Dabasia will continue to steer the firm, while Mace Group's Mark Reynolds retains a minority stake and will chair the new board.

The partnership will fuel organic growth and strategic acquisitions, leveraging Goldman Sachs' expertise to expand Mace Consult's digital and regional capabilities.

GS is currently trading at $708.03, up $7.62 or 1.09 percent on the New York Stock Exchange.