The 50-employee firm is part of British firm’s American expansion
Mace Group has announced the acquisition of Turton Bond, a US-based independent cost consultant and project management company.
The acquisition by Mace Consult is expected to close by the third quarter of this year, subject to conditions. It is part of Mace Consult’s expansion into America, where it currently employs 400.
The addition of Turton Bond will boost capacity by a headcount of 50 employees across four offices in New York, Houston, San Francisco and Los Angeles.
Founded in 2019, Turton Bond is led by partners Chris Bond, Will Turton, Joe Stevens and Darren Flood providing cost management, procurement, and project management support to Fortune 500 clients in the technology, datacentre, and manufacturing sectors.
Mace Consult works on complex infrastructure and private-sector capital programmes. It is forecast to deliver around $1bn (£740m) of revenue in 2025 and employs more than 5,200 people globally.
Davendra Dabasia, Mace Consult’s chief executive, said: “Our expansion in the US has been gathering pace over the last two years, with major appointments by global clients and on some of the largest infrastructure projects in North America.
”Our new partnership with the team at Turton Bond will see us work together to target growth in the technology sector in the US, building on their success to date with some of the world’s largest tech firms.”
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“This deal reflects our long-term strategy of investing in Mace Consult’s four service-lines, building our market exposure outside the UK and our growth in the US.
”Having worked closely with the founders of Turton Bond over the past few months, it is clear that we have a shared focus on innovation and exceptional delivery for our clients – as well as an entrepreneurial culture that will enable our ambitious future growth plan.”
“We will continue to explore further M&A opportunities to accelerate our growth in North America – supported by our new partnership with Goldman Sachs.”
In July, a majority investment in Mace Consult by Goldman Sachs Alternatives was announced to establish the consulting business as an independent company. The transaction is expected to close later this year, subject to regulatory clearance.
Will Turton and Chris Bond, founding partners at Turton Bond, said: “We are excited to continue to deliver on our promise of delivering a best-in-class, tailored service for our clients. Our exponential growth since 2019 is testament to the trust placed in us by our clients to date, as well as the amazing talent we have at all levels throughout our business.”
“Based on our experience to date working with Mace’s leadership team, we truly believe this partnership with Mace Consult is an exciting new chapter for all parties. We feel that our agile and dynamic approach to cost and project management, alongside our willingness to embrace new and emerging technologies, will perfectly compliment the established global reach and expertise of Mace Consult.”
Mace Group was advised by Linklaters for legal matters and KPMG for financials. Turton Bond took legal advice from Jones Walker.
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