Mace, the UK-based global construction and consultancy firm, has acquired a "significant stake" of the Kenyan quantity surveying company, YMR, in a bid to expand in east Africa.
Following the purchase for an undisclosed sum the new business will be called "MaceYMR", offering project management and quantity surveying.
YMR has worked on major development projects in the region, including most of the new shopping malls such as Two Rivers, Garden City and the Hub Karen in Nairobi.
The company was also involved in the World Bank Office in Juba, South Sudan, the new Kigali City Tower, Rwanda, Acacia Plaza in Kampala and Tatu City, a 5000 acre mixed use residential, retail and commercial development site in Nairobi.
For its part Mace is delivering Expo 2020 in Dubai, Battersea Power Station in London, the world’s tallest skyscraper, Kingdom Tower in Jeddah, Saudi Arabia and the newly-opened Zeitz MOCAA art gallery in Cape Town, South Africa.
Mace said the move came as development in east Africa is on the rise, driving an increased demand for construction consultancy services.
Kenyan construction alone is forecast to grow by 8.5% in 2017 and at 6.2% annually to 2026, said Mace, outperforming other regions in Africa.
The acquisition of a significant stake of YMR is the second purchase that Mace has made in Africa in the last twelve months. Mace completed the acquisition of a stake in MMQS, a South African quantity surveying firm, in 2016, creating MMQSMace.
Jason Millett, Mace’s chief operating officer for consultancy, said: "Following this purchase and our recent acquisition of MMQS in South Africa, we will continue to explore the potential to expand our offering across our global hubs through the strategic acquisition of niche consultancy firms with reputations for high quality services in order to strengthen our market position and provide an augmented offer to clients."
Simon Herd is managing director for east Africa at MaceYMR.
Photograph: The new MaceYMR team (Mace)
