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Corsair Capital has entered a definitive deal to purchase a majority stake in impartial business insurance coverage dealer MJM.
The deal consideration was not shared.
Based mostly in Poland, MJM was established in 2017. Its companies span P&C insurance coverage, business motor insurance coverage and reinsurance, providing tailor-made options and specialist companies.
The settlement will see Corsair buying a lot of the fairness from MJM’s present shareholders, with Posella and Solter Capital exiting fully.
MJM founder and CEO Marcin Ślotała will stay on the helm, with the unique administration workforce reinvesting a good portion of their fairness again into the corporate.
Corsair, with its expertise in enterprise companies and the insurance coverage sector, plans to assist MJM as a part of its buy-and-build technique.
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The MJM deal builds on Corsair’s profitable acquisitions similar to Attis Dealer in 2018 and Smartt Re in 2021.
Ślotała stated: “Since our founding in 2017, we now have had a transparent imaginative and prescient of constructing the main impartial insurance coverage dealer lively within the Polish market, and our success to this point has been pushed by placing our prospects and colleagues on the coronary heart of every little thing we do.
“As we enter the subsequent stage of our development, we’re glad to work with a like-minded accomplice that brings a formidable observe report of supporting companies like ours, and with additional funding and the numerous expertise supplied by Corsair, we stay up for persevering with our development story for years to come back.”
Corsair accomplice Raja Hadji-Touma stated: “We’re delighted to spend money on MJM, an excellent firm constructed underneath Marcin Ślotała’s management.
“We share Marcin’s imaginative and prescient and bold development agenda and examine MJM as the best platform to spend money on Poland’s business insurance coverage distribution market, with scope to proceed to construct on its main specialist positions and broaden its product and finish market providing by way of acquisitions and strategic partnerships.”
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