APM ASX: Private equity group CVC scraps a proposed $1.83 billion buyout of APM Human Services, which helps people find jobs and has also been expanding in providing services to the NDIS.

Rich Lister Megan Wynne built APM from scratch in 1994 into a large player generating fees from helping people find jobs, and has expanded as an NDIS provider.

after listing on the ASX in late 2021 at $3.55 per share. The company went into a trading halt on Wednesday morning after receiving an official letter from CVC advising they could not proceed with the $2-per-share proposal.

APM generates fees from helping people with disabilities or illnesses find jobs and operates in 11 countries with 15,000 staff, 6200 of them in Australia. It is a provider of servicesBut APM’s largest business is in employment services, where it is a big player in the federal government-run Workforce Australia, previously known as JobActive until a rebrand in 2022.APM closed at $1.63 per share on Tuesday and hit a low of 69¢ in late January.

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