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Bombed-out employment services group APM is getting on the front foot.

Street Talk understands UBS′ bankers are on hand to canvass takeover interest, which sources said had amounted to half a dozen inbound inquiries. The Swiss investment bank was a joint lead manager on the company’s 2022 sharemarket float alongside Goldman Sachs, Bank of America and Credit Suisse.

No formal approaches have been made, but Street Talk understands APM’s call sheet is littered with at least half a dozen private equity funds. On Sunday, Street Talk reported that investment banks were pitching APM to sponsors with its share price in the doldrums.

Sources said most of the informal approaches had come directly to APM or via its key private equity shareholder, Madison Dearborn Capital Partners. Founder Megan Wynne still holds north of 30 per cent of the company.

The defence adviser role is one UBS knows well. The bank is acting for Adore Beauty, helping to field inbound interest. The online beauty retailer listed at $6.75 a share three years ago and last closed at $1.25.

Read the full story tomorrow and more on the Street Talk page.

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Click here for the latest equity market wrap.