Johns Lyng Delisting Signals End of Public Era Amid Board Reshuffle
Johns Lyng Group has officially been acquired by Sherwood BidCo, controlled by Pacific Equity Partners, with shareholders receiving $4.00 per share or equity in the new entity. The company will be delisted from the ASX on October 24, marking a new chapter under private ownership.
- Acquisition completed via scheme of arrangement by Sherwood BidCo
- Shareholders paid $4.00 per share or issued Topco shares if elected
- Multiple non-executive directors resigned; one new director appointed
- Trading suspended and delisting from ASX effective October 24, 2025
Acquisition Finalised
Johns Lyng Group Limited (ASX, JLG), a key player in the Australian building and property services sector, has officially transitioned into private ownership following the successful implementation of a scheme of arrangement. Sherwood BidCo Pty Ltd, an entity controlled by funds managed by Pacific Equity Partners, completed the acquisition on October 23, 2025, marking the end of Johns Lyng’s tenure as a publicly traded company.
The transaction saw all JLG shares transferred to Sherwood BidCo, with shareholders receiving a cash payment of $4.00 per share. Alternatively, certain shareholders elected to receive consideration in the form of shares in the new holding company, Topco, at a ratio of four Topco shares for each JLG share surrendered. This dual-option approach provided flexibility for investors, balancing immediate liquidity with potential future upside under private ownership.
Board Changes Signal New Direction
Coinciding with the acquisition, Johns Lyng’s board underwent significant reshuffling. All non-executive directors; Peter Nash, Larisa Moran, Peter Dixon, Alexander Silver, and Alison Terry; resigned effective immediately. Meanwhile, executive directors Scott Didier and Nick Carnell remain, providing continuity amid change. The appointment of Matthew Lunn as a new director suggests a strategic refresh aligned with the new ownership’s vision.
Delisting and Market Impact
Trading in JLG shares was suspended on October 14, ahead of the formal delisting scheduled for October 24, 2025. This move removes Johns Lyng from the ASX, reflecting its transition to a private company structure. For market participants, the delisting closes a chapter on public market scrutiny but opens questions about the company’s strategic trajectory under Pacific Equity Partners’ stewardship.
While the announcement confirms the mechanics of the acquisition and immediate governance changes, it leaves open the longer-term operational plans and growth strategies. Investors and analysts will be watching closely for forthcoming updates on how the new owners intend to leverage Johns Lyng’s market position and capabilities.
Bottom Line?
With Johns Lyng now private, all eyes turn to how Pacific Equity Partners will steer its next phase.
Questions in the middle?
- What strategic initiatives will Pacific Equity Partners implement post-acquisition?
- How will the new board composition influence Johns Lyng’s operational priorities?
- What are the implications for former shareholders holding Topco shares in terms of liquidity and value?
