Waterland takes majority stake in McAdam Design

Waterland Private Equity Investments acquired a stake in McAdam Group on 12 November 2026, through its Irish operation, with managing director Martin Hare and the existing leadership team continuing to run the business. Donal Mac Nioclais led the transaction for the investor. Founded in 1963, McAdam Group is a multidisciplinary consultancy supplying engineering, architecture, project management, environmental and health and safety services to infrastructure and built environment projects. It employs more than 200 people from offices in Belfast and Cork, serving public bodies and private developers, and ranks among the largest independent practices of its kind operating across the island of Ireland. Combining several disciplines within one practice distinguishes the firm from the specialist consultancies that make up most of the market, since a client commissioning a scheme can appoint a single adviser across its engineering, architectural and environmental requirements rather than coordinating separate appointments, which matters more as regulatory and planning obligations accumulate. The practice operates on both sides of the Irish border, a position requiring familiarity with two planning regimes and two sets of building regulations, which few independent firms of its size maintain. The capital was directed at recruitment and technical capability, at deepening the firm’s position in the markets it already serves, and at acquisitions, the consultancy sector in Ireland and the United Kingdom remaining divided among a large number of independent practices.

The acquisition of McAdam Design is part of the growth strategy of Waterland, which already has several external growth operations under its belt, notably Milieu Service Groep in 2026.