Southern Cross Electrical Engineering said on 12 October 2026 that it had agreed to acquire Entire Operations, a Melbourne-based fire protection and HVAC services group, for up to A$112.1m including earn-outs.
Why Southern Cross Electrical Engineering Limited is buying Entire Operations Pty Ltd
The deal gives SCEE an entry into mechanical (HVAC) services, adds scale in Victoria to its fire services operations in New South Wales and Queensland, and increases recurring maintenance revenue, which accounts for about 35% of Entire's sales. Data centres made up about 25% of Entire's FY26 revenue.
Deal terms and financing
SCEE will pay A$70m in cash at completion, with up to A$25.8m in base earn-outs contingent on EBIT of at least A$17m in each of FY27, FY28 and FY29, and up to A$16.3m more for stretch targets. Entire earned EBIT of A$17.5m on revenue of A$191m in FY26. The purchase is funded from cash and is forecast to be at least 18% accretive to FY27 pro forma EPS.
Regulatory approvals and timing
Completion is subject to customary conditions and is expected on or about 1 November 2026.
Market context
Entire, founded in 1985, employs more than 490 staff across Victoria and Queensland; its executive shareholders, including managing director Rod Sekulich, will remain with the business. SCEE raised its FY27 EBITDA guidance to at least A$110m, including a A$10m contribution from Entire. SCEE shares rose about 7% on the news.
