MIC Electronics Limited has signed a memorandum of understanding with Refit Global Private Limited to evaluate entry into the refurbished and circular electronics segment. The engagement has reached the term sheet stage, with valuation discussions closed and due diligence under way. The proposed transaction would extend the company into a sustainability aligned growth vertical while preserving governance and financial discipline.

The company is seeking to diversify revenue streams beyond its project led infrastructure business by leveraging manufacturing, testing and supply chain capabilities for adjacent electronics lifecycle opportunities. The aim is to build scalable, repeatable models that support long term value creation and broaden digital inclusion through more affordable access to technology.

The MoU covers consumer electronics as well as enterprise and institutional devices, platform and supply chain integration, and domestic and cross border market opportunities. The assessment includes refurbishment and resale models, managed device lifecycle and asset recovery programmes, platform led distribution, reverse logistics and compliance driven refurbishment processes, and export oriented supply chains.

Refit Global brings expertise in sourcing, testing, grading and multi channel distribution together with knowledge of circular supply chains. MIC Electronics contributes established electronics manufacturing and surface mount technology infrastructure, robust quality and governance frameworks, large scale assembly and testing capability, and institutional and government market access. The parties are evaluating integrated models spanning refurbishment, testing, compliance and distribution.

Executives have described the opportunity as asset light and platform led, with selective manufacturing and supply chain integration to complement core capabilities. Following the term sheet, next steps include completion of due diligence, confirmation of the transaction structure, assessment of operational and regulatory readiness, and completion of internal approvals and definitive documentation. No binding commitment will be made until conditions precedent and regulatory requirements are satisfied.

Advisory support is being provided by Bestvantage Mergerbay, the strategic advisory arm of Bestvantage Investments. The engagement is positioned as aligned with sustainability and environmental, social and governance objectives through extension of device lifecycles, reduction in electronic waste and improved resource efficiency, while ESG outcomes are being evaluated qualitatively at this stage.