Chris Sutherland will stay on as managing director of Programmed. Photo: Attila Csaszar

Programmed receives $780m takeover offer

Investors have welcomed news this morning that Programmed Maintenance Services will be purchased by a Japanese staffing company for about $780 million in cash.

Programmed directors have unanimously backed PERSOL Holdings’ cash offer of $3.02 per share to wholly acquire the Perth-based business, which represents a 69 per cent premium to its three-month volume-weighted average price.

As part of the agreement, Programmed will continue to operate under its current business model and with its existing employees and customers, with managing director Christopher Sutherland to remain at the helm and also eventually join Persol’s management team.


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Share Price

Closing price for the last 90 trading days
Source: Morningstar

Share Transactions

$0 Other
$0 Issued
$0 Other
Total value as at the date of the transaction
Source: Morningstar


2nd-Automotive Holdings Group$6,079.6m
3rd↑Programmed Maintenance Services$2,694.5m
4th-Seven West Media$1,679.0m
233 listed industrial companies ranked by revenue.
Source: Morningstar

Remuneration from Programmed Maintenance Services

27thChristopher Sutherland$1.466m
106thStephen Leach$790k
206thGlenn Thompson$576k
Ranked by total remuneration from all listed WA companies

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