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Corsair Capital has entered a definitive deal to purchase a majority stake in impartial industrial 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, industrial 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 utterly.
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 help 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 mentioned: “Since our founding in 2017, now we have had a transparent imaginative and prescient of constructing the main impartial insurance coverage dealer energetic within the Polish market, and our success so far has been pushed by placing our clients and colleagues on the coronary heart of every part we do.
“As we enter the following stage of our progress, we’re glad to work with a like-minded accomplice that brings a powerful observe report of supporting companies like ours, and with additional funding and the numerous expertise offered by Corsair, we sit up for persevering with our progress story for years to return.”
Corsair accomplice Raja Hadji-Touma mentioned: “We’re delighted to spend money on MJM, an impressive firm constructed beneath Marcin Ślotała’s management.
“We share Marcin’s imaginative and prescient and impressive progress agenda and examine MJM as the perfect platform to spend money on Poland’s industrial 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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