Mace fitout boss exits in Construct restructure

The restructure will see long-serving fitout boss Stewart Ward depart.

From January 2026, the £2.1bn income Assemble group will function by three enterprise items: Business; Infrastructure; and Public, Science and Know-how.

These shall be led by present managing administrators Ged Simmonds, Nigel Cole and Rob Lemming, respectively.

Fitout shall be folded into the brand new Business arm, however Ward has opted to go away to pursue alternatives elsewhere.

Alister Gray will proceed to steer information centre alternatives within the UK and Eire below the Public, Science and Know-how unit.

Chief govt Jason Millett stated the modifications adopted an in depth overview of the enterprise.

“Mace Assemble is concentrated on remaining one of many UK’s main contractors, and following a thought of technique of overview we’re shifting to a brand new working mannequin that may permit us to focus extra on what we do finest – contracting, building administration and specialist providers.”

He stated Mace Assemble was is on observe for income and margin development this yr with main wins together with 85 Gracechurch Avenue, the British Library and Euston Tower.

The restructure comes forward of Mace Seek the advice of’s separation from the group following a majority funding by personal fairness specialist Goldman Sachs Alternate options, anticipated to shut later this yr.

A number of of Mace’s shareholders, together with govt chair Mark Reynolds and CEO Jason Millett, will retain a minority stake in Mace Seek the advice of and can work intently with Goldman Sachs Alternate options as members of the brand new Mace Seek the advice of Board.

Reynolds shall be appointed as chair.