Pacific Equity Partners → Johns Lyng Group
completedPacific Equity Partners, via its Sherwood BidCo vehicle, took building-restoration services company Johns Lyng Group private at A$4.00/share; the scheme was implemented on 23 October 2025.
PEP saw an opportunity to acquire a market-leading building services business across Australia, New Zealand, and the US at a discounted valuation after a period of weak financial results and a sagging share price.
The offer represented a 77% premium to the closing price the day before PEP's initial approach, giving shareholders certainty after a difficult trading period.
Johns Lyng shares soared on news of the approach, consistent with the scale of the premium offered.
Read as a private-equity value play on a battered small-cap, given the size of the premium paid relative to recent trading.
Deal mechanics
Not publicly disclosed
MinterEllison (legal adviser to Johns Lyng Group)
All-cash scheme of arrangement at A$4.00/share (equity value ~A$1.1bn, enterprise value ~A$1.3bn); management and employee shareholders were treated separately
Not publicly disclosed
Not publicly disclosed
Not publicly disclosed