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News » International » Mace buys into East African QS » published 24 Oct 2017

Mace buys into East African QS

Mace has expanded its services in East African with the acquisition of a stake in a quantity surveying practice, YMR.

Kenya-based YMR has worked on some of the most high-profile development projects in the region, including major retail malls, the World Bank office in South Sudan, Kigali City Tower in Rwanda and a 5,000-acre residential, retail and commercial development site in Nairobi.

Jason Millett, Mace’s chief operating officer for consultancy, 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.”

Following the purchase, the new business will operate under the combined brand MaceYMR, offering a one-stop shop for construction consultancy services across East Africa.

The move comes as development activity in Nairobi and East Africa more generally is on the rise, driving an increased demand for consultancy services from the construction industry. Kenyan construction alone is forecast to grow by 8.5% in 2017 and at 6.2% annually to 2026, outperforming even the strongest regional growth forecasts elsewhere in Africa.

The acquisition of the significant stake of YMR is the second purchase that Mace has made in Africa in the last 12 months. Mace completed the acquisition of a stake in MMQS, a South African quantity surveying firm, in 2016, creating MMQSMace.

Simon Herd, managing director for East Africa at MaceYMR, 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.”

 

MPU

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This article was published on 24 Oct 2017 (last updated on 24 Oct 2017).

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