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The latest announcement is out from Mayfield Group Holdings Limited ( (AU:MYG) ).
Mayfield Group Holdings has agreed to acquire the business assets of SMEC Power & Technology, a leading Australian manufacturer of underground electrical starter panels, switchboards and substations for the mining industry, for up to $30 million on a cash-free, debt-free basis. Funded from existing cash reserves and Mayfield scrip, the deal values SMEC at roughly five times forecast FY26 EBITDA, with founder Martin Law and his senior team remaining to ensure continuity and preserve relationships with major Western Australian gold producers.
The transaction marks Mayfield’s second major acquisition in a year and is positioned as a key step in its ambition to become Australia’s pre-eminent electrical infrastructure group, adding exposure to high-growth underground and in-pit mining, plus established export channels into Africa and Asia. SMEC’s kiosk substation and switchboard capabilities are expected to create synergies with Mayfield’s existing renewables and data centre businesses, broadening its integrated offering from design and manufacturing through to installation, commissioning and maintenance while maintaining a strong balance sheet.
The most recent analyst rating on (AU:MYG) stock is a Buy with a A$2.50 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 electrical infrastructure provider focused on manufacturing and services for sectors including data centres, renewables, defence and critical infrastructure. Through subsidiaries such as Mayfield Industries and BE Switchcraft, the company designs, builds and maintains switchboards, substations and related systems for domestic and increasingly international clients.
Average Trading Volume: 376,067
Technical Sentiment Signal: Buy
Current Market Cap: A$287.6M
See more data about MYG stock on TipRanks’ Stock Analysis page.