A statement from the firm said it would try to attract clients that have traditionally considered their projects to be too small for Mace.
The statement said: "We believe there is a place in the market for a quality client-focused delivery service that draws on the skills of Mace in delivering cutting-edge projects while providing a fixed-price delivery offer."
The business will be run by managing director Damien Kenny, who has been at Mace for 10 years. The management also includes construction director Nick Hamilton and sales and marketing director Neil Stanley.
Mace declared last year that there was a decline in the construction management market, in which the firm made its name during the 1990s. Chairman Bob White said a drop in the commercial market would mean construction management work was unlikely to revive until next year.