sydneyaustralian buildingservices provider johns lyng group agreed to pay up to 79 million australian dollars us529 million for a pair of acquisitions it said moves it closer to becoming a full turnkey solution for property owners and managers the company on wednesday said it would pay a618 million cash up front and up to a1725 million in earnouts to acquire 100 of project safety holdings and 70 of link fire holdings both companies operate across fire electrical and gas compliance testing and are privately held the asxlisted company intends to fund the transactions by raising a65 million via a fully underwritten institutional share placement and up to a5 million via a share purchase plan chief executive scott didier said the acquisitions would help johns lyng build a fifth strategic business pillar in essential home services both companies operate annuity style business models underpinned by subscriptionbased revenue with strong margins johns lyng said and are expected to generate revenue of a442 million and ebitda of a93 million in fy 2023 ended june 30 the acquisitions are expected to close in 1q of fy 2024