Street Talk

Pacific Equity Partners zeroes in on ASX-listed property services biz

Sarah Thompson, Kanika Sood and Emma Rapaport

Updated Jun 10, 2025 – 10.41am, first published at 8.55am

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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.

Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.

Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.

Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.