Latest news with #JohnsLyngGroup
AU Financial Review
11-07-2025
- Business
- AU Financial Review
Johns Lyng agrees to $1.3b takeover bid from private equity suitor
Johns Lyng Group says it has agreed to sell itself to Pacific Equity Partners in a deal that values the building services business at $1.3 billion. The company had a market capitalisation of $719 million last month. That was before The Australian Financial Review 's Street Talk column revealed it had been approached by a private equity firm which had secured the exclusive right to conduct due diligence on the business, ahead of a formal bid.
Business Recorder
11-07-2025
- Business
- Business Recorder
Australian shares inch lower as banks, gold stocks drag; Johns Lyng surges
Australian shares edged lower on Friday, as losses in banking and gold stocks outweighed gains in miners, while Johns Lyng Group soared after the building services provider agreed to a takeover offer from Pacific Equity Partners. The S&P/ASX 200 index fell 0.1% to 8,583.6 by 0026 GMT. The benchmark has lost 0.2% so far in the week after two consecutive weeks of gains. Overnight, the S&P 500 and Nasdaq registered record closing highs, and Nvidia's market value closed above $4 trillion for the first time. Markets largely shrugged off US President Donald Trump's latest tariff missives, including a new 50% tariff on copper imports from August 1. In Sydney, shares of Johns Lyng Group climbed 23.3% and were on track for their best day ever, after the company agreed to be acquired by Pacific Equity Partners for an equity value of A$1.1 billion ($725.01 million). Index heavyweight financials fell 0.8%. National Australia Bank, Westpac and Commonwealth Bank of Australia were down between 0.1% and 0.3%. The Reserve Bank of Australia on Tuesday held its cash rate steady at 3.85% in a surprise move, saying the majority of the board wanted to wait for more information to confirm inflation was slowing. Gold stocks dropped 0.9%, with Evolution Mining and Northern Star Resources shedding 1.9% and 0.7%, respectively. Miners rose 2.1% after iron ore prices climbed overnight on hopes of a new wave of reforms to rein in steel supply and more stimulus measures from top consumer China. Shares of BHP and Rio Tinto were up 2.6% and 2.5%, respectively, while Fortescue advanced 3.8%. In New Zealand, the benchmark S&P/NZX 50 index rose 0.2% to 12,781.39. It was down 0.1% so far in the week.
AU Financial Review
11-07-2025
- Business
- AU Financial Review
Johns Lyng books a $1.3 billion trip to private equity repair shop
Bye, bye Johns Lyng Group, a building services group that shone bright on the ASX, stumbled, stumbled again, and is headed for a stint in the private equity repair shop. Good luck, get well, and perhaps we'll see you again. Mark the $1.3 billion sale of Johns Lyng as one of the Australian capital markets case studies of the year. Regulators, politicians, investors or anyone else wondering how capital markets are changing should take note of who's buying Johns Lyng, who's selling, who's not selling and consider why.
Mint
11-07-2025
- Business
- Mint
Australian shares inch lower as banks, gold stocks drag; Johns Lyng surges
July 11 (Reuters) - Australian shares edged lower on Friday, as losses in banking and gold stocks outweighed gains in miners, while Johns Lyng Group soared after the building services provider agreed to a takeover offer from Pacific Equity Partners. The S&P/ASX 200 index fell 0.1% to 8,583.6 by 0026 GMT. The benchmark has lost 0.2% so far in the week after two consecutive weeks of gains. Overnight, the S&P 500 and Nasdaq registered record closing highs, and Nvidia's market value closed above $4 trillion for the first time. Markets largely shrugged off U.S. President Donald Trump's latest tariff missives, including a new 50% tariff on copper imports from August 1. In Sydney, shares of Johns Lyng Group climbed 23.3% and were on track for their best day ever, after the company agreed to be acquired by Pacific Equity Partners for an equity value of A$1.1 billion ($725.01 million). Index heavyweight financials fell 0.8%. National Australia Bank, Westpac and Commonwealth Bank of Australia were down between 0.1% and 0.3%. The Reserve Bank of Australia on Tuesday held its cash rate steady at 3.85% in a surprise move, saying the majority of the board wanted to wait for more information to confirm inflation was slowing. Gold stocks dropped 0.9%, with Evolution Mining and Northern Star Resources shedding 1.9% and 0.7%, respectively. Miners rose 2.1% after iron ore prices climbed overnight on hopes of a new wave of reforms to rein in steel supply and more stimulus measures from top consumer China. Shares of BHP and Rio Tinto were up 2.6% and 2.5%, respectively, while Fortescue advanced 3.8%. In New Zealand, the benchmark S&P/NZX 50 index rose 0.2% to 12,781.39. It was down 0.1% so far in the week. ($1 = 1.5230 Australian dollars) (Reporting by Roshan Thomas in Bengaluru; Editing by Subhranshu Sahu)
Yahoo
10-06-2025
- Business
- Yahoo
Australia's Johns Lyng Group receives buyout offer from Pacific Equity Partners
(Reuters) -Australian fund manager Pacific Equity Partners (PEP) has made an approach to buy out struggling property services business Johns Lyng Group, the latter said on Wednesday without specifying a value for the offer. The ASX-listed company has seen its share price slump over 32% this year, giving it a market capitalisation of A$718.67 million ($469.22 million). PEP made the offer after market close on May 16 and has also been granted a period of exclusive due diligence. Johns Lyng had emerged as one of the major underperformers during the February reporting season, slumping 31% on the day it released interim results. Johns Lyng Group acquired Smoke Alarms Australia and Linkfire as part of a broader expansion strategy in 2023. The company funded these deals through an equity raise of A$65 million underwritten by JPMorgan. Last year, it also secured an 87.4% controlling stake in Keystone Group, a Queensland-based insurance building firm, further strengthening its footprint in the sector. ($1 = 1.5316 Australian dollars) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
