Mayfield Group Powers Ahead: Strategic Acquisition of BE Switchcraft Enhances Capabilities

Key Highlights:

• Mayfield acquires BE Switchcraft for $7M, expanding manufacturing and product portfolio
• Strengthens position in critical infrastructure markets like AI data centres and energy
• Immediate earnings accretion expected in FY26

Mayfield Group Holdings Ltd (ASX: MYG) has marked a significant milestone in its growth strategy with the announcement of its acquisition of BE Switchcraft Pty Ltd—a move that broadens its product suite, deepens technical capabilities, and fortifies its position in Australia’s critical electrical infrastructure sector.

The $7 million transaction, comprising $5 million in cash and $2 million in Mayfield shares, brings BE Switchcraft’s established expertise in energy management systems, lighting control, and room automation into Mayfield’s fold. The acquisition, expected to close by 30 August 2025, will add approximately $20 million in forecast revenue and $1.8 million EBIT to Mayfield’s FY25 outlook, offering immediate earnings accretion for shareholders in FY26.

Founded in 1966, BE Switchcraft has built a reputation for delivering high-quality electrical switchboards to major Australian infrastructure projects. Its 70-strong team will remain onboard post-acquisition, ensuring continuity of expertise and client relationships. Managing Director Andrew Rowe emphasised the strategic alignment, stating, “This acquisition strengthens our position in Australia’s critical electrical infrastructure sector and expands our commercial market capabilities. Together, we are uniting two proud Australian manufacturing traditions to power the nation’s sustainable future.”

Mayfield’s move is a clear response to rising demand for integrated electrical solutions, particularly across AI data centres, energy projects, and essential services. The combined entity is positioned to offer a market-leading suite of Australian-made solutions—an edge over multinational competitors reliant on standardised, imported products.

The acquisition underscores Mayfield’s broader growth strategy, which has delivered a 34.81% return for investors over the past year. Shares edged 2.40% higher to close at $1.065 on Monday, with a 52-week range between $0.620 and $1.250. The company’s market cap now stands at $98.66 million, supported by a strong 7.79% dividend yield, reflecting management’s confidence in sustained cash flow generation.

Looking ahead, Mayfield’s integration of BE Switchcraft is expected to unlock new commercial opportunities, particularly in the high-growth AI and data centre sectors, where demand for sophisticated, locally manufactured power solutions is surging.

As Mayfield fortifies its capabilities, investors will be closely watching for progress on the integration timeline, synergies, and market response—particularly as the company targets sustained expansion in Australia’s evolving energy and technology landscapes.