Johns Lyng Group Reviews Pacific Equity Partners Buyout Proposal

Johns Lyng Group, an Australian building and restoration services company, is currently in exclusive talks with Pacific Equity Partners (PEP) following a non-binding takeover offer made in mid-May. The discussions have led to a significant jump in Johns Lyng's share price, reflecting investor optimism about the potential acquisition, with shares rising as much as 21% in some reports. PEP aims to acquire 100% of Johns Lyng’s issued shares through a scheme of arrangement, including scrip consideration for senior management and CEO Scott Didier, who holds a substantial stake in the company. The exclusivity period for due diligence is set to last until July 11, 2025, and the transaction remains subject to approvals from Johns Lyng's independent board committee, shareholders, the Foreign Investment Review Board, and the court. Johns Lyng has enlisted J.P. Morgan, Nomura, and MinterEllison to advise on the financial and legal aspects of the potential deal. This acquisition attempt underscores the rising interest of private equity in consolidating companies with strong business models in the building and insurance restoration sector.