Mace Group has announced the management buyout of its facilities-management arm Mace Operate, which has now rebranded as Macro.
The buyout was led by Mace Operate chief executive Ross Abbate and chief financial officer Chris Bampton. Mark Holmes, who announced in September that he would step down as Mace’s deputy chairman, is the chair of Macro.
Abbate said: “Over the past 20 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.”
There will be a nine-month transitional period, after which the business will be fully independent.
Macro and Mace will also retain a close relationship in the long term, with Macro acting as preferred supplier for Mace Group’s facilities-management services. The two companies have indicated they will also look at joint-servicing offers for existing clients.
Mace Operate was launched 21 years ago. It currently performs operational facilities-management, consultancy and helpdesk services in 45 countries. The company has around 700 employees and posted a £170,000 pre-tax loss in the year ending 31 December 2022.
Among the company’s facilities-management responsibilities is running the IFS Cloud Cable Car on behalf of Transport for London.
Mace Group is no stranger to a management buyout – the company itself was bought out by a team of 13 in 2001.
The firm has indicated its intention to focus more heavily on its core consultancy and construction offerings, while Macro has said it wishes to invest more in innovations and new service offerings to meet the changing needs of clients.
Mace Group’s chair and 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.”