Johns Lyng Accepts $1.3B Buyout from PEP

Johns Lyng Group has agreed to be acquired by Pacific Equity Partners for $1.3 billion, with shareholders to receive AUD 4 per share in cash—a 57% premium to the share price before the offer emerged. The deal represents a significant premium over Johns Lyng's prior market capitalization of $719 million. Johns Lyng operates in Australia, New Zealand, and the US, and is notable for its substantial market share in the insurance repair and restoration construction sector. The transaction is being executed through a Scheme Implementation Deed and highlights the growing trend of public-to-private deals in Australia. The acquisition also draws attention from investors and regulators due to its implications for capital markets. The board of Johns Lyng has recommended the offer to shareholders.