Mayfield Group Expands Manufacturing with $4 Million Nilsen Switchboards Acquisition

Mayfield Targets Manufacturing Scale and Capability

Mayfield Group Holdings Limited (ASX:MYG) is making a decisive move to strengthen its foothold in Australia’s electrical infrastructure manufacturing sector by acquiring the Switchboards Division of Nilsen (SA) Pty Ltd for $4 million in cash. This deal, expected to complete by the end of July 2026, brings not just a product line but also a highly skilled workforce and a pipeline of contracts that could underpin $10-15 million in revenue for FY27.

The acquisition includes the N-Series product platform, a proven switchboard range with applications spanning commercial, industrial, infrastructure, defence, mining, utilities, and data centre markets. Alongside the intellectual property, Mayfield will integrate approximately 66 employees, including designers, estimators, project managers, and skilled tradespeople, addressing a critical shortage of specialist electrical manufacturing skills in Australia.

Royal Park Manufacturing Facility Set for Higher Utilisation

Mayfield’s Royal Park facility, acquired earlier this year, will be the primary beneficiary of this acquisition. The transfer of personnel, intellectual property, and $3.9 million worth of customer contracts and work-in-hand is expected to accelerate utilisation of this 26,500m² manufacturing hub in Adelaide. The staged transfer of assets and employees through to October 2026 aims to ensure a smooth integration and maintain continuity for existing Nilsen contracts.

This acquisition complements Mayfield’s existing switchboard capabilities through its subsidiaries Mayfield Industries and BE Switchcraft, broadening its ability to service a wider range of customer applications from a single manufacturing platform. The enhanced capacity positions Mayfield to pursue larger and more diverse switchboard opportunities nationally, reinforcing its role in critical infrastructure projects.

Strategic Growth Through People and Product

Andrew Rowe, Mayfield’s Group CEO, emphasised the acquisition’s focus on people and capability. "This transaction is first and foremost about people and capability," he said. "The expertise of the incoming team, combined with the N-Series intellectual property, is expected to strengthen our manufacturing capability and support utilisation of our Royal Park facility."

Oliver Mark Nilsen, Executive Chairman at Nilsen, expressed confidence in Mayfield’s stewardship, highlighting the shared commitment to quality and service. The deal excludes the Nilsen brand and wider corporate operations, focusing solely on the Switchboards Division and its assets.

Funding and Acquisition Context

The $4 million purchase price will be funded from Mayfield’s existing cash reserves, with no new debt or equity issuance required. Completion remains subject to customary conditions precedent, including employee transfer thresholds and satisfactory contract transitions, meaning there is no certainty until all conditions are met or waived.

This acquisition marks Mayfield’s third strategic purchase in twelve months, following the integration of BE Switchcraft and SMEC Power & Technology. Together, these moves reflect a disciplined approach to expanding their manufacturing footprint and addressable market, building on a period where Mayfield reported a 52.8% revenue surge and doubled its profits, supported by strong contract pipelines and capacity investments.