Australian (ASX) Stock Market Forum

JLG - Johns Lyng Group

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ShareSuccess said:
Johns Lyng Group Limited (ASX: JLG) – Trading Halt
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a bit in the AFR

A more than 50 per cent decline in Johns Lyng Group’s share price this year has one local private equity group amped up about a potential turnaround.

The property services business, which is capitalised at $719 million, has received a takeover approach from Pacific Equity Partners. PEP started sniffing around the business last year and has in recent weeks secured exclusivity. The Sydney buyout firm is well-entrenched in due diligence, but there is no certainty an agreed deal will eventuate.

also, director / CEO bought a Byron Bay pub
 
Dona Ferentes said:
a bit in the AFR

A more than 50 per cent decline in Johns Lyng Group’s share price this year has one local private equity group amped up about a potential turnaround.

The property services business, which is capitalised at $719 million, has received a takeover approach from Pacific Equity Partners. PEP started sniffing around the business last year and has in recent weeks secured exclusivity. The Sydney buyout firm is well-entrenched in due diligence, but there is no certainty an agreed deal will eventuate.

also, director / CEO bought a Byron Bay pub
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Thank you Dona....I bought the stock in the low 2s, so hopefully something eventuates out of this.:)
 
Surely PEP wouldn't be stupid enough to buy JLG??!! I mean the most basic due diligence will expose whats under the hood.
 
Johns Lyng Group Receives Conditional and Non-Binding Indicative Proposal from PEP Reference is made to the article in the 'Street Talk' column of the Australian Financial Review this morning

Johns Lyng Group (ASX: JLG) (JLG or the Company) confirms that after market close on 16 May 2025 it received a non-binding indicative offer proposal from Pacific Equity Partners, on behalf of funds it advises, (PEP) to acquire 100% of the issued shares of the Company by way of a scheme of arrangement (Indicative Proposal),with certain members of JLG’s senior management team including JLG’s largest shareholder, Scott Didier,Managing Director and Chief Executive Officer, being offered the opportunity to receive scrip consideration toretain an interest in the JLG business.

The Indicative Proposal is subject to a number of conditions customary for transactions of this nature.An Independent Board Committee, comprising JLG Non-executive Chair, Peter Nash, and non-executive directors, Peter Dixon, Alison Terry and Alexander Silver was formed following the receipt of the Indicative Proposal.

The Independent Board Committee has decided to grant PEP a period of exclusivity to facilitate PEP’ sconfirmatory due diligence process to enable PEP to put forward a binding offer.This period of exclusivity expires at 5.00pm (Sydney, Australia time) on 11 July 2025, during which the customary fiduciary exception will not apply for the 4 weeks commencing 29 May 2025. A copy of the Exclusivity Deed between JLG and PEP dated 29 May 2025 is attached to this announcement.Shareholders do not need to take any action in relation to the Indicative Proposal.

It should be noted that thereis no certainty that the discussions with PEP will result in any transaction and no assurance is given that atransaction will proceed. Any such transaction would require approval by JLG's Independent Board Committee,and be subject to approval from the Foreign Investment Review Board and ultimately subject to approval fromJLG’s shareholders and the Court (among other conditions)

UP 15%....Thank you!
 
JOHNS LYNG GROUP ENTERS INTO SCHEME IMPLEMENTATION DEED WITH PACIFICEQUITY PARTNERS


Summary• Johns Lyng Group (ASX: JLG) (JLG or the Company) has entered into a Scheme ImplementationDeed (SID) with Sherwood BidCo Pty Ltd (Bidder), an entity owned and controlled by fundsmanaged and advised by Pacific Equity Partners Pty Limited and certain of its affiliates (PEP),under which Bidder has agreed to acquire 100% of the ordinary shares in JLG (JLG Shares) byway of a Scheme of Arrangement (Scheme) at a price of $4.00 per JLG Share (SchemeConsideration).•

The Scheme Consideration values JLG’s equity at approximately $1.1 billion and implies anenterprise value (EV) of $1.3 billion1.•

The Scheme Consideration represents an attractive valuation for JLG Shareholders including atransaction multiple of FY25(F) EV/EBITDA2 of 10.3x on a post-AASB 16 basis (12.8x on a preAASB 16 and post-Business Partner payments3 basis) and implies a significant premium of:eek: 77% to JLG’s closing share price as at 15 May 2025, being the day prior to the receipt ofPEP’s non-binding and indicative offer; ando 57% to JLG’s closing share price as at 6 June 20254, 66% to the 30-Day volume weightedaverage price (VWAP5) to that date and 56% to the 90-Day VWAP to that date.•

Under the Scheme, $4.00 cash per JLG Share will be paid to all JLG Shareholders other thanmanagement and employee shareholders who will be able to elect to receive some or all of theirScheme Consideration in the form of scrip in Bidder's holding company at a price equivalent to$4.00 per JLG Share (Relevant Shareholders).

• JLG’s Independent Board Committee (IBC), comprising JLG Non-executive Chair, Peter Nash, andnon-executive directors, Peter Dixon, Alison Terry and Alexander Silver, unanimously recommendsthat JLG Shareholders vote in favour of the Scheme in the absence of a Superior Proposal andsubject to the Independent Expert concluding (and continuing to conclude) that the Scheme is inthe best interests of JLG Shareholders.

• Subject to the same qualifications, each JLG Director intends to vote the JLG Shares held orcontrolled by them in favour of the proposed Scheme.

• The Scheme is fully funded and subject to limited customary conditions including certain regulatoryapprovals, approval by JLG Shareholders at the Scheme Meetings (which are expected to be heldin October 2025, with a Scheme booklet to be provided to JLG Shareholders in advance), andCourt approval. It is expected that the Relevant Shareholders will vote at a separate Schememeeting to the other JLG Shareholders.

• JLG Shareholders do not need to take any action at this time.

JLG’s Chairman, Peter Nash, said:“We are pleased that PEP has recognised the value of JLG’s integrated building services operationsacross Australia, New Zealand and the United States. The Scheme is an attractive transaction thatprovides JLG Shareholders with the opportunity to receive cash at a material premium.The IBC’s unanimous recommendation was based on a thorough evaluation of a range of factorsincluding JLG’s intrinsic value under different scenarios and the potential medium-term share pricewithout the Scheme, and taking into consideration JLG’s underlying business performance over the lasttwo years and current business momentum.

”PEP Managing Director, Matthew Robinson, said:“Scott and the management team of Johns Lyng Group have built a strong business with a distinctiveculture. We look forward to working with the Company and its employees in continuing to supportcustomers into the future.”
 
Well in at 3.117 after costs on the 30th of june, and exit at 4, not too bad.28% in a fortnight
Is/was part of RRG system trading i think.
Will confirm when on the computer
Might pay a small cost to get the cash earlier but
 
qldfrog said:
Well in at 3.117 after costs on the 30th of june, and exit at 4, not too bad.28% in a fortnight
Is/was part of RRG system trading i think.
Will confirm when on the computer
Might pay a small cost to get the cash earlier but
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Who Cares about costs Mate!.....I million Dollars invested for a couple of weeks at 28% is a Very Nice return:p ha ha

i've held mine for 11 Months/4 Months/3 Months.....Bought 5 Parcels...average cost $2.34 so looking at a nice return of around 70% ROI so i'm happy to pay the Tax Man a portion:D
 
ShareSuccess said:
Who Cares about costs Mate!.....I million Dollars invested for a couple of weeks at 28% is a Very Nice return:p ha ha

i've held mine for 11 Months/4 Months/3 Months.....Bought 5 Parcels...average cost $2.34 so looking at a nice return of around 70% ROI so i'm happy to pay the Tax Man a portion:D
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I wish it was 1 million 😂
 
qldfrog said:
I wish it was 1 million 😂
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hey Froggy Just reading a newspaper clipping & it says we can take cash or scrip, do you know what the scrip would be?.....would that be shares in the company as a private entity?

Do you know anything?.....bit of a ignoramus in this area:)
 
ShareSuccess said:
hey Froggy Just reading a newspaper clipping & it says we can take cash or scrip, do you know what the scrip would be?.....would that be shares in the company as a private entity?

Do you know anything?.....bit of a ignoramus in this area:)
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As not interested in script or even cash in October, i will sell now unless $4 is more worthwhile in 3 months..
So did not check details on script.
 
qldfrog said:
As not interested in script or even cash in October, i will sell now unless $4 is more worthwhile in 3 months..
So did not check details on script.
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That Makes sense i may consider this too!.....will wait a couple of days to see where the price Goes!

maybe there is a dark horse out there waiting to pounce & offer a higher Price ha ha:p
 
Come to think of it, i think i may Hold until the deal closes!

I'm thinking to get out earlier would be denying myself some Nice Dividends in September & considering the EX-date will not affect the end price received, i think i would be silly to sell out sooner!

Any thoughts?
 

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