The buyout has been led by Mace Operate chief executive Ross Abbate and chief finance officer Chris Bampton. Mark Holmes, who last month announced his intention to step down as Mace Group deputy chairman will become chair of the newly independent company.
The facilities management business, now renamed Macro, employs more than 700 people worldwide and claims an annual turnover figure of £130m.
Macro will continue to provide facilities management services to its existing clients and will continue to work closely with Mace Group under a transitional agreement for the next nine months. In the long term, Macro is expected to act as a preferred supplier for Mace Group’s own facilities management services as well as working with its former parent to offer joint services to existing clients.
The buyout is intended to allow the newly independent company more freedom to develop its range of services to meet the changing needs of the facilities management market. In turn, Mace will be able to focus on its core consultancy and construction services.
In a statement, Mace said that it is “important that subsidiary companies can maintain the entrepreneurial spirit that has served the Group so well to date.” Four years ago it sold off its recruitment arm, now called People Group, to its management team but still works closely with the business.
Macro chief executive Ross Abbate said: “Over the past twenty years, Macro has established itself as a leading facilities management expert under the umbrella of the Mace Group – and now, as an independent company we will be able to build on that success to invest in new and transformed services for our clients and create fantastic new opportunities for Macro colleagues across the globe. Chris and I are thrilled to have the opportunity to lead this brilliant team on the next step in our journey together.”
Mace Group chief executive Mark Reynolds said: “As the Group’s core services have gone from strength to strength over the past few years, it has been clear that there is more opportunity for Macro to grow as an independent business. The team will now be able to invest in the innovation and infrastructure required to develop and grow a world-leading facilities management service.
“We understand the power of an independent company owned and led by those who understand it best. We look forward to working with Ross and Chris as they build their new business – and we wish them every success in the future.”
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Source : TheConstructionIndex