Following MMQS deal, Mace buys Kenyan-based firm YMR
Approximately a year after acquiring South African firm MMQS, Mace has further expanded its wings on the African continent with the purchase of Kenya-based YMR. The partnership will take on the brand MaceYMR, and will combine the global expertise and the regional reputation that the firms offer respectively.
UK-based consulting firm Mace has been steadily executing its strategy of expansion on a global scale. In order to consolidate its presence in markets across its global hubs, the firm lays emphasis on the acquisition of “niche consultancy firms” that have established themselves in their respective local markets.
Last year, Mace acquired MMQS, a consultancy firm based out of South Africa. The firm provides end-to-end construction solutions, starting from the inception and design phase, through the documentation phase, all the way to the implementation phase. To navigate these phases, the firm offers expertise in procurement, construction law, project auditing and monitoring, as well as engineering.
With the acquisition, Mace significantly boosted its operations in the rapidly developing South African construction industry. However, the strongest construction economy on the continent in recent times has emerged as Kenya. The Kenyan construction industry is projected to grow by as much as 8.5% this year, and will progress at a steady 6.2% annually for the next decade till 2026.
Acquisition of YMR
In a bid to tap into the booming sector, Mace has now acquired Kenyan quantity-surveying practice YMR. Established in 1985 in Nairobi, YMR is one of the largest independent construction consultancy practices in East Africa, running operations with 6 Partners, around 23 Qualified Quantity Surveyors and an entire team of administrative, logistical and subordinate staff. Their most prominent projects in the region include the Two Rivers, Garden City, and Hub Karen, all of which are retail malls in Nairobi.
Major projects from YMR outside of Kenya include: a role in the World Bank office in Juba, South Sudan; the new Kigali City Tower in Rwanda, and Acacia Plaza in Kampala. The firm was also involved in the construction of mega project Tatu City in Nairobi, which is a 5000 –acre residential, retail and commercial development project.
The acquisition of YMR and its operations will significantly boost Mace’s capacity in the region. Mace itself has been prolific in the global construction industry, having been involved in some of the biggest and most challenging projects across the world. Perhaps the most prominent of these is the Kingdom Tower in Jeddah, scheduled to come up in 2020, estimated to be more than a kilometre in height, and without a doubt the (future) tallest building in the world. Additionally, the firm has been involved in the construction of Expo 2020 in Dubai, Battersea Power Station in London, and the Zeitz MOCAA art gallery in Cape Town, South Africa.
Commenting on the acquisition, Jason Millet, the COO for Mace’s consulting practice said, “The acquisition of this stake of YMR is the next step forward in Mace’s strategic regional expansion plans. By combining YMR’s excellent local knowledge and Mace’s global scale, resource and expertise, we can transform our service offering in East Africa. We’ll be able to offer existing and potential clients a one-stop shop for high quality construction consultancy services.”
Meanwhile, Simon Herd, who will act as the Managing Director for East Asia at the newly established partnership said, “This is the natural next step for YMR and will open up a huge range of opportunities for growth – for our existing clients, our business and all of the team here. We will be able to provide our existing clients a suite of new services delivered by Mace, as well as offering new customers a strengthened proposition that can’t be matched by anyone else in East Africa.“
