Construct’s 2,000 staff told this lunchtime name change will be completed later this year
Mace is set to rebrand its construction arm later this year as the firm nears completion of the sale of its Consult business to Goldman Sachs.
Construct’s 2,000 staff were told this lunchtime the Mace name would be dropped from the business as part of the deal.
“Both businesses can’t keep the name and Consult’s name has got global reach,” said chief executive Jason Millett.
Mace is set to appoint a branding expert to help with Construct’s name change which Millett said would also take in the opinions of staff and clients.
A new name for the Construct business, which is expected to post a 2025 turnover of around £2.3bn when it files its results this summer, is expected within six to 10 months, he added.
Building understands that once the deal with Goldman Sachs is formally inked, at least £100m will be pumped into the Construct business to clear debts and increase its cash pile.
The deal to sell Consult, announced last summer, is expected to be wrapped up by the end of February with the division beginning to operate as a separate business from the beginning of next month.
Millett said Consult, which is led by chief executive Davendra Dabasia, and Construct would share the Mace brand for a period of time before the new name for Construct is launched.
He added: “We have worked hard over the past decade to establish Mace as a global benchmark for exceptional programme and project delivery, and we think it is right that Davendra and his team are able to continue to build on the strength of the Mace brand as a leading delivery consultancy in Consult’s growth markets across the world.
“Here in the UK, we believe there is an opportunity for Mace Construct to evolve once again, adopting a new name and identity.”
No decision has been taken on where the new businesses will be based with both currently operating out of a main base at 155 Moorgate in the City where it has been for more than a decade after previously being in Camden. Consult has several offices across the UK but Construct’s only other sizeable office is at Heathrow Airport.
The name change marks the end of an era for a business that was set up in 1990 and made its name in contracting with the deal to build the Shard, which was completed in 2012. Since then, Mace has been involved with a string of high-profile schemes across the capital including the Spurs stadium, the Battersea Power Station redevelopment and 70 St Mary Axe, also known as the Can of Ham. Last summer, it won the deal to redevelop the British Library.
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