The Competition Authority of Kenya has given the green light for Consult Bidco Ltd to acquire Mace Consult Holding, concluding that the deal poses no threat to competition in the local consultancy market.
In a statement issued on 18 November, the Authority said the transaction involves Consult Bidco taking full ownership of Mace’s share capital as a financial investment. The watchdog added that the acquisition is expected to help Mace streamline operations, strengthen service delivery and accelerate its growth as an independent business.
“The Competition Authority of Kenya has approved the proposed acquisition of control of Mace Consult Holding Limited by Consult Bidco Ltd unconditionally, based on the finding that the transaction is unlikely to lead to a substantial prevention or lessening of competition in the market for provision of project management consultancy in Kenya, nor elicit negative public interest concerns,” the Authority noted.
The review fell under the Competition Act since the combined turnover of the two entities surpasses the statutory KSh 1 billion threshold. CAK assessed the relevant market as project management consultancy services nationwide, noting that Mace serves clients across the country.
The Authority also weighed public-interest considerations such as effects on jobs, SMEs and the competitiveness of national industries. According to the parties involved, no job losses or disruptions are anticipated.
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CAK concluded that the market structure will remain unchanged, as Consult Bidco is not active in the same business segment. The authority therefore found no evidence of potential market dominance or harm.
Summary of the Transaction
| Item | Details |
|---|---|
| Acquiring Company | Consult Bidco Ltd |
| Target Company | Mace Consult Holding Limited |
| Sector Reviewed | Project management consultancy |
| Regulator’s Finding | No likely reduction in competition; no public-interest concerns |
| Outcome | Approved unconditionally |
| Reason | Consult Bidco does not operate in the same market; no market share increase |
About the Companies
Consult Bidco Ltd
Consult Bidco was incorporated solely for this acquisition. It is ultimately controlled by GS Group Inc., a New York Stock Exchange-listed global investment firm offering services in investment banking, asset management and securities trading.
Mace Consult Holding Limited
Mace Consult Holding, domiciled in New Jersey, owns Mace Management Services Limited and Mace YMR LLP in Kenya. Both entities specialise in consultancy, cost management and project management for construction and infrastructure projects.
