Kenya’s Competition Authority (CAK) has cleared the proposed takeover of Mace Consult Holding Limited by Consult Bidco Limited, giving the deal a smooth path forward after confirming that it meets all merger requirements under the Competition Act.
The regulator approved the transaction unconditionally, meaning the companies can now move ahead without any extra conditions or remedies.
In its assessment, the Authority maintained that “the transaction is unlikely to lead to a substantial prevention or lessening of competition,” and noted that “it also does not raise negative public interest concerns.”
This conclusion signals that the deal will not distort the market or hurt consumers, employees, or smaller firms operating in the same space.
Consult Bidco Limited was created specifically for this acquisition. The company is ultimately owned by GS Group Inc, a major global investment firm listed on the New York Stock Exchange.
Through this transaction, GS Group is effectively taking full control of Mace Consult Holding Limited, including its Kenyan subsidiaries, Mace Management Services Limited and Mace YMR LLP.
These firms are known for their involvement in project management and consultancy work across major construction, real estate, and infrastructure projects.
Because the value of the deal exceeds one billion shillings, it met the threshold that requires mandatory notification to the Competition Authority.
Once notified, the regulator examined the transaction closely to understand how it might influence the consultancy industry in Kenya. The Authority determined that the relevant market was project management consultancy services, which operate on a national scale because the affected companies serve clients across the country.
CAK on competition
CAK highlighted that the consultancy sector in Kenya is already highly competitive. It includes numerous local small and medium-sized firms as well as several large international players offering similar services.
Companies such as Turner and Townsend, AECOM, WSP, Deloitte, KPMG, Arcadis, Mott MacDonald, and other global consultancies have long been active in the Kenyan market, making it a diverse and crowded field.
Importantly, Consult Bidco does not currently offer project management consultancy services in Kenya. This means the acquisition will not lead to overlapping operations or increased market concentration.
The Authority concluded that the market shares will remain unchanged and that the deal will not give the merged entity any unfair advantage over other industry players.
Beyond competition, regulators also looked at public interest considerations. They assessed whether the acquisition might lead to job losses, reduce the competitiveness of local firms, or negatively affect Kenya’s participation in international consultancy markets.
CAK found no evidence of harm in any of these areas. The Authority noted that employment levels are unlikely to be disrupted, and the sector’s diversity ensures that small and medium-sized firms will continue to thrive alongside larger consultancies.
The clearance also comes at a time when Mace Consult is expanding its global footprint. The firm has been strengthening its position in multiple regions, acquiring new capabilities and broadening its portfolio of services.
With the backing of a global investment group, the Kenyan subsidiaries may gain additional resources, expertise, and financial muscle that could support their growth and improve service delivery for local clients.
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