Johns Lyng Group Ltd (AU:JLG) has released an update.
Johns Lyng Group Ltd. has announced the strategic acquisition of an 87.5% stake in Keystone Group, a leading player in the Australian Insurance Building & Restoration Services sector, with the transaction set to bolster Johns Lyng’s market leadership and enhance its capacity for large-scale disaster response. The deal, valued at $44.1 million in cash and $3.6 million in shares, along with potential earn-out payments, is expected to immediately impact earnings, contributing over $100 million to FY25 revenue and around $9 million in EBITDA. In line with their equity partnership approach, Keystone’s management retains a 12.5% stake, aligning with Johns Lyng’s long-term strategic goals.
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