Jun 29, 2026 – 6.08pmJapanese recruitment giant Persol has caught the attention of two ASX-listed players as it seeks to exit Programmed, one of Australia’s largest facilities management and labour hire businesses, for a near $1 billion price tag.Programmed’s clients include the Melbourne Cricket Ground. Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber?
ASX-listed players run ruler over Japanese-owned Programmed
Two ASX-listed services players are preparing to battle it out for Programmed, one of Australia’s largest facilities management and labour hire businesses.
TL;DRAI
Persol exits Programmed, Australia's major facilities management and labour hire operator, for ~$1B; two ASX-listed players bidding. Deal signals consolidation trend in enterprise services and reflects strong M&A appetite for essential infrastructure and workforce solutions.
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