BE Switchcraft Acquisition
| Stock | Mayfield Group Holdings Ltd (MYG.ASX) |
|---|---|
| Release Time | 2 Jun 2025, 8:19 a.m. |
| Price Sensitive | Yes |
Mayfield Expands Manufacturing with BE Switchcraft Acquisition
- $7 million acquisition of BE Switchcraft, a leading electrical switchboard manufacturer
- Expands manufacturing capabilities and commercial market reach
- Enhances product offering with lighting control and room automation solutions
Mayfield Group Holdings Limited (ASX: MYG) has executed a conditional Share Purchase Agreement to acquire 100% of BE Switchcraft Pty Ltd ('BE Switchcraft'), a leading South Australian electrical switchboard manufacturer specialising in energy management systems, lighting control and room automation. The $7 million transaction, funded through existing cash reserves, includes $5 million in cash and $2 million in Mayfield shares. The acquisition strengthens all four pillars of Mayfield's strategic framework, expanding its Australian-made manufacturing capabilities, enhancing its product offering with complementary lighting control and room automation solutions, and increasing its service capability in the commercial sector with specialised technical expertise. The combined entity will be uniquely positioned to address the growing demand for integrated electrical infrastructure in data centres and AI applications, where BE Switchcraft's energy management systems and Mayfield's critical power solutions provide a comprehensive offering unmatched by competitors in the Australian market. BE Switchcraft is forecast to generate revenue of $20 million and EBIT of $1.8 million in FY25, and the key employee and controlling shareholder will remain with the business on a long-term contract post-acquisition.
The acquisition is expected to deliver immediate earnings accretion for shareholders with positive EBIT contribution in FY26.
The acquisition strengthens Mayfield's competitive position in Australia's electrical infrastructure market, creating the nation's most comprehensive provider of locally manufactured power solutions. The combined expertise of both companies provides access to a broader range of Australian-made electrical infrastructure solutions and specialised capabilities in energy efficiency and building automation.