Turner & Townsend has announced that its Kenya business is to merge with Nairobi-based project management firm Mentor Management Limited (MML). Turner & Townsend has acquired a majority stake in MML from leading growth markets investor – Actis. The transaction is subject to regulatory approval.
The new entity, MML Turner & Townsend, will operate across the real estate, infrastructure and natural resource industries. The merger comes as global investment is fueling Kenya’s diverse economy. Construction activity, most notably in infrastructure, is being driven by institutional and private investment from overseas.
Major projects have been helping to grow inbound investments in surrounding construction developments including the Northern Corridor Transport Improvement Project (NCTIP); the Lamu Port and Lamu Southern Sudan-Ethiopian Transport Corridor (LAPSSET); Lokichar to Lamu pipeline corridor; the new Mombasa-Nairobi Expressway and the Mombasa-Nairobi Standard Gauge Railway Project. LAPSSET, in particular, will expand port access to Kenya, boost rail construction and include a pipeline for recently discovered oil in the country.
Vincent Clancy, Turner & Townsend Chairman and CEO, commented: “The merger of our Kenya operation with MML, sees MML Turner & Townsend become the largest independent project and programme management company in East Africa. This is the next step in our Africa expansion plan as we continue to grow across the continent.”
MML Managing Director John Rogers said: “Joining Turner & Townsend is a significant step for our employees and clients. Turner & Townsend’s global expertise combined with MML’s local knowledge and reputation, will deliver a unique proposition to clients.”
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Michael Turner, Head of Actis’s Nairobi office, said: “East Africa is a key market for Actis’ real estate team, with strong macro and real estate fundamentals. The interest received from strategic investors reflects these fundamentals and MML’s market leading position, we look forward to a continued business relationship with MML Turner & Townsend as we continue to build our reputation as the most experienced sub-Saharan African private equity real estate investor.”
Turner & Townsend’s existing team will join MML’s Nairobi operation, as a combined team of over 40 experts, delivering a range of services including: advisory, programme management, project management and cost management.
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