Turner & Townsend has announced that its Kenya business is to merge with Nairobi-based project management firm Mentor Management Limited (MML) after Turner & Townsend acquired a majority stake in MML from leading growth markets investor – Actis.
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 and 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.
“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,” says Turner & Townsend Chairman and CEO Vincent Clancy.
MML which has been operating from Nairobi since 1987 is well respected in the commercial and residential sectors, having delivered a number of prestigious projects in Kenya including: Garden City Nairobi – one of East Africa’s largest shopping malls; an 11,000 sq m cargo handling facility for Swissport and a new chancery for the Australian High Commission.
“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,” MML Managing Director John Rogers commented.
The transaction is subject to regulatory approval.