Mayfield Group completes BE Switchcraft acquisition, bolsters market position

Mayfield Group Holdings Limited announced the successful completion of its acquisition of BE Switchcraft Pty Ltd. The total consideration for the acquisition was approximately AUD 7 million, comprising AUD 5 million in cash and 1,893,951 ordinary shares in Mayfield. These shares, valued at AUD 1.33 per share, are subject to voluntary escrow until 27 August 2027. Following the issuance of these new shares, Mayfield's total quoted ordinary shares on issue now stands at 95,171,037. The acquisition is expected to contribute positively to Mayfield's EBIT from FY26.

This strategic move provides Mayfield direct entry into the commercial sector, including education, healthcare, government, and commercial building markets, complementing its existing industrial focus. BE Switchcraft's expertise in energy management and building automation systems enhances Mayfield's data center and AI applications capabilities. Additionally, BE Switchcraft will now manufacture Mayfield's proprietary Moducell switchboard technology, expanding production and market reach for this proven IP.

Both companies share strong South Australian manufacturing foundations, leading to immediate operational integration and value creation through new joint projects. The integration activities have already commenced, demonstrating natural synergies and efficiencies.