Mayfield Group Completes SMEC Power & Technology Acquisition to Bolster Mining and Infrastructure Reach

Mayfield Group Holdings Limited ( (AU:MYG) ) just unveiled an announcement.

Mayfield Group Holdings has completed the acquisition of SMEC Power & Technology, also known as Southern Mining Electrical Contractors, in a cash-and-scrip deal with provisional consideration of about $24.8 million. The transaction, completed on a cash-free, debt-free basis, includes all business assets and operations of SMEC, with an upfront payment of $16.4 million and a performance-based earn-out of up to $8.4 million tied to SMEC’s FY26 results.

SMEC will operate as a distinct business unit within the Mayfield Group, retaining its Perth and Kalgoorlie bases, brand and more than 100 staff under founder Martin Law, who has taken a long-term leadership role in the combined group. The deal, Mayfield’s second acquisition in 12 months, strengthens its position in underground mining and Western Australia’s gold sector, while opening cross-selling opportunities across data centres, renewables and international export channels, and is expected to enhance diversification and growth prospects for shareholders.

The most recent analyst rating on (AU:MYG) stock is a Buy with a A$2.00 price target. To see the full list of analyst forecasts on Mayfield Group Holdings Limited stock, see the AU:MYG Stock Forecast page.

More about Mayfield Group Holdings Limited

Mayfield Group Holdings Limited is an Australian engineering and electrical solutions provider, listed on the ASX under the ticker MYG. The group focuses on power, critical infrastructure and industrial applications, with growing exposure to data centres, renewables, defence and resources, and is expanding its footprint through targeted acquisitions in complementary sectors.

Average Trading Volume: 307,556

Technical Sentiment Signal: Buy

Current Market Cap: A$221.4M

For an in-depth examination of MYG stock, go to TipRanks’ Overview page.