Mace Group has sold a majority stake in its programme management consultancy, Mace Consult, to Goldman Sachs Alternatives’ Private Equity division, in a carve-out transaction that transforms Mace Consult into an independent company.

Goldman Sachs Alternatives has made a majority investment in Mace Consult—a division carved out from Mace Group—as part of a move to position the consultancy as a leading global player in programme and project management. Now operating as an independent business, Mace Consult will continue to be led by CEO Davendra Dabasia and will focus on delivering complex, large-scale infrastructure programmes. The firm is currently involved in major international projects, including the Hudson Tunnel Project in New York, the UK’s New Hospitals Programme, and Qiddiya in Saudi Arabia. Over the past three decades, Mace Consult has played a central role in delivering high-profile global initiatives such as the London 2012 Olympics and Expo 2020 Dubai.

Several Mace Group shareholders—including Executive Chair Mark Reynolds and CEO Jason Millett—will retain a minority interest in Mace Consult and work alongside Goldman Sachs Alternatives on its newly formed board. Reynolds will serve as board chair. This partnership builds on a decade of growth for Mace Consult, which has expanded into large-scale programmes across multiple global regions. Under the new ownership structure, the company aims to pursue strategic acquisitions to strengthen its position in priority growth markets.

Mace Group received advisory services from Linklaters and UBS while Lazard, Jefferies International, and White & Case advised Goldman Sachs Alternatives.