To redefine the boundaries of ambition: Mace sets a bold purpose-led path towards 2026
Mace announces drive to become a more diverse, purpose-led company and lays out ambitious growth plans.
The new strategy sets out a radical vision of a more sustainable, more inclusive and more innovative built environment.
Bold growth targets set to deliver 20% year-on-year margin growth and 10% revenue growth year on year to 2026; with a revenue target of £3bn.
Mace has today launched its 2026 Business Strategy and announced the adoption of a new purpose that will sit at the centre of everything it does: to redefine the boundaries of ambition.
Responding to societal changes brought about by the global climate emergency and the impact of the coronavirus pandemic, Mace has overhauled its strategy to set out a clear vision of a more sustainable, and inclusive business model that puts purpose at its heart.
Alongside this the business has set itself ambitious new growth targets that will see it work to drive a 20% growth in margin each year, target achieving £3bn in annual revenue and aim to employ more than 8,000 people by 2026 across its four Engines for Growth: Develop, Construct, Consult and Operate.
Mace will achieve this by targeting a diverse range of markets and sectors to deliver global growth across its four Engines, including housing, pharmaceuticals, infrastructure and the data centre market.
Its offer to clients will evolve to focus on creating a fundamental transformation in how the built environment is delivered and operated; reducing carbon, driving the adoption of a digital-first, ‘construction to production’ approach; and prioritising the creation of social value.
Mark Reynolds, Mace’s Group Chief Executive, said:
“Our new purpose – to redefine the boundaries of ambition – is a reflection of Mace’s exceptional heritage and our bold vision for the future. The last twelve months have shown that companies in all sectors must urgently change how we do business, and our new strategy responds to two of the great challenges of our time: addressing climate change and creating a more diverse and inclusive global society.
“By putting purpose at the heart of our strategy, our vision is that by 2026 Mace will be leading the way across the globe in disrupting how the built environment is developed, built and operated – from creating new models for town centre regeneration and housing delivery driven by social value to working with our clients to radically transform how we construct buildings and infrastructure.”
“Our strength as a business has always been our exceptional people and their industry-defining ambition and expertise. By setting out our purpose and priorities clearly, we want to put our colleagues at the centre of everything we do; growing together to realise a bold vision of the future of the company over the next five years.”
To bring its new purpose to life, Mace has announced three new strategic priorities: to pursue a more sustainable world, to grow together and to deliver distinctive value. Under these three priorities, Mace has set out a number of key goals and new initiatives, which include:
- Build on our success achieving Net Zero Carbon in 2020 for scope 1 & 2 emissions. We are targeting to achieve a 10% year on year reduction in emissions and only offsetting the outstanding carbon to gold standards.
- Working across the entire value chain we are targeting to reduce our scope 3 emissions by more than one million tonnes by 2026 and by 2030 all emissions by 50%.
- Continuing to drive social value across every project and programme we work on, generating more than £700m value to society each year by 2026.
- Become the most inclusive employer of choice in our industry, reducing our gender and ethnicity pay gap by 10% year on year and meeting the ambitious recruitment targets set out in our 2020-2023 Diversity and Inclusion Strategy.
- Radically transform how we deliver the built environment, adopting a ‘construction to production’ approach across our construction and consultancy businesses. We are targeting to achieve 90% of our work delivered using modern methods of construction by 2026.
- Deliver growth through expanding our global presence in the development, infrastructure, built environment and operations markets, with a particular sector focus on healthcare, data centres and town centre regeneration.
- Build our presence in a number of key countries and regional markets across the world, driving further growth in our mature businesses in North America, Sub-Saharan Africa and Asia Pacific; as well as continuing to build our presence in growth areas like Peru.
- Increase our investment in research and development across the Group up to 3.5% of our annual revenue.
The strategy was launched internally in January 2021 and is already shaping Mace’s business operations around the globe, alongside a new programme of capital investment that will see the creation of new business units and potential acquisitions in strategic target markets over the next six months.
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