Southern Cross Electrical Engineering Limited (AU:SXE) has released an update.
Southern Cross Electrical Engineering Limited (SCEE) has strategically bolstered its service offerings by acquiring MDE Group, a Sydney-based specialist in electrical and communications, for an enterprise value up to $10.55 million. The acquisition is set to deliver significant operational synergies, especially with ongoing projects like the Western Sydney International Airport, and is expected to contribute at least $5 million in EBIT from FY25 onwards. This move not only enhances SCEE’s east coast presence but also positions the company to capitalize on the booming data centre market.
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