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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 providers span P&C insurance coverage, business motor insurance coverage and reinsurance, providing tailor-made options and specialist providers.
The settlement will see Corsair buying a lot of the fairness from MJM’s current 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 providers and the insurance coverage sector, plans to help MJM as a part of its buy-and-build technique.
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The MJM deal builds on Corsair’s profitable acquisitions comparable 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 thus far has been pushed by placing our clients and colleagues on the coronary heart of all the things we do.
“As we enter the subsequent stage of our development, we’re glad to work with a like-minded accomplice that brings a powerful monitor file of supporting companies like ours, and with additional funding and the numerous expertise offered by Corsair, we look ahead to persevering with our development story for years to return.”
Corsair accomplice Raja Hadji-Touma stated: “We’re delighted to put money into MJM, an impressive firm constructed below Marcin Ślotała’s management.
“We share Marcin’s imaginative and prescient and bold development agenda and consider MJM as the perfect platform to put money into 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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