JOHNS LYNG GROUP LIMITED Johns Lyng Group Limited (ASX:JLG) entered into a binding share purchase agreement to acquire 70% stake in Link Fire Holdings Pty Ltd for AUD 11.7 million on July 5, 2023. Under the terms of agreement, Johns Lyng Group will pay an upfront consideration of AUD 11.7 million and an earnout of up to AUD 6.25 million based on the annual EBITDA performance of Link fire for FY24 and FY25. Existing senior management will retain a 30% equity interest.
The acquisition will be funded by a AUD 65 million fully underwritten institutional placement and a non-underwritten share purchase plan targeting a maximum of AUD 5 million. In a related transaction, Johns Lyng Group also signed binding share purchase agreement to acquire Smoke Alarms Australia Pty Limited on July 5, 2023. The revenue reported by Link Fire Holdings FY2022 was AUD 16.1 million.
