JOHNS LYNG GROUP ACQUIRES SMOKE ALARMS AUSTRALIA

5 July 2023

Merchant Place Investments, an Australian private investor focused on the smaller end of the middle market, has entered into a binding agreement to sell 100% of its investment in Smoke Alarms Australia to ASX-listed construction and property services company, Johns Lyng Group (ASX:JLG).

Smoke Alarms Australia is headquartered in Sydney but operates nationally. It is a leading provider of smoke alarm inspection services, and electrical and gas safety inspections, with recurring annual contracts to manage compliance at over 284,000 residential rental properties across Australia.

Merchant Place has worked in close partnership with the SAA team for over five and a half years to build a market-leading essential home services business. In addition to driving strong organic growth, the team originated and completed four acquisitions in the sector.

“We’re grateful to have had the chance to partner with the Smoke Alarms Australia team and work with them to almost triple the size of the business during our years of ownership. We wish them much success in their next chapter with JLG,” said Merchant Place's Managing Director, Nick Batchelor.