Over 99% of Johns Lyng Votes Approve $JLG Acquisition by Pacific Equity Partners
Johns Lyng Group shareholders have overwhelmingly approved a scheme of arrangement for acquisition by Pacific Equity Partners, pending final court approval.
- Over 99% of votes in favour at General Scheme Meeting
- 100% approval at Relevant Shareholder Scheme Meeting
- Acquisition by Sherwood BidCo, controlled by Pacific Equity Partners
- Final approval pending Supreme Court of NSW hearing on 13 October
- Trading suspension and scheme implementation scheduled for mid-October
Shareholder Approval Secured
Johns Lyng Group Limited (ASX – JLG) has taken a significant step towards a change of ownership after its shareholders voted decisively in favour of a proposed scheme of arrangement. At meetings held on 8 October 2025, both the General Scheme Meeting and the Relevant Shareholder Scheme Meeting saw overwhelming support for the acquisition of 100% of JLG shares by Sherwood BidCo Pty Ltd, an entity controlled by funds managed by Pacific Equity Partners.
The General Scheme Meeting recorded a strong 99.10% of votes cast in favour, representing 81.49% of shareholders present and voting. Even more striking, the Relevant Shareholder Scheme Meeting achieved unanimous approval, with 100% of votes cast supporting the scheme.
Next Steps – Court Approval and Implementation
While the shareholder endorsement is a crucial milestone, the scheme remains subject to final approval by the Supreme Court of New South Wales. The court is scheduled to hear the application on 13 October 2025. If approved, procedural steps will follow swiftly, including the lodgement of court orders with ASIC, suspension of trading in JLG shares on the ASX, and the formal implementation of the scheme, anticipated by 23 October 2025.
This orderly timeline reflects the typical process for such acquisitions, balancing regulatory oversight with shareholder interests. The suspension of trading on 14 October signals the transition phase as ownership changes hands.
Strategic Implications
Pacific Equity Partners’ acquisition of Johns Lyng Group, a key player in the building and property services sector, underscores continued private equity interest in infrastructure-related services. While financial terms and post-acquisition strategies remain under wraps, the deal could position JLG for new growth opportunities under private ownership, potentially enabling more agile decision-making away from public market pressures.
Investors will be watching closely for any updates following the court hearing, as well as any conditions precedent that may affect the transaction’s completion.
Bottom Line?
With shareholder approval secured, all eyes now turn to the court’s verdict and the final steps toward Pacific Equity Partners’ takeover.
Questions in the middle?
- Will the Supreme Court of NSW approve the scheme without modifications?
- What strategic changes might Pacific Equity Partners implement post-acquisition?
- How will the suspension of trading impact JLG’s share liquidity and investor sentiment?
