Corsair's Acquisition of MJM Holdings: A Strategic Move in the European Commercial Insurance Industry

Corsair, a prominent private equity firm specializing in payments, software, and business services investments in the financial services market, has announced its definitive agreement to acquire a majority stake in MJM Holdings, a leading independent commercial insurance broker based in Poland. This strategic move by Corsair aims to consolidate its position in the European commercial insurance industry and further expand its portfolio of investments.

MJM Holdings, founded in 2017, has experienced rapid growth and established itself as a client-centric and expertise-driven insurance brokerage platform. The company operates through three divisions that cover property & casualty insurance, commercial motor insurance, and reinsurance. This comprehensive suite of insurance solutions, coupled with its specialist advice and high levels of service, has allowed MJM to cater effectively to its focused client sectors.

Under the terms of the agreement, Corsair will acquire a majority of equity from MJM's current owners, with investors Posella Limited and Solter Capital fully divesting their holdings. However, Marcin Ślotała, the founder and Chief Executive Officer of MJM, will continue to lead the company. Additionally, the founding management team will retain a significant portion of their equity value in the transaction. Corsair, leveraging its expertise in the business services and insurance sectors, will provide support to MJM as it executes its buy-and-build strategy and continues its successful track record of acquisitions, including Attis Broker in 2018 and Smartt Re in 2021.

Marcin Ślotała, speaking about the acquisition, expressed his gratitude to Posella Limited and Solter Capital for their invaluable support in driving MJM's growth. He also highlighted the alignment of vision between MJM and Corsair, emphasizing the partnership's potential to further accelerate MJM's growth trajectory. With Corsair's investment and significant experience, MJM aims to solidify its position as the leading independent insurance broker in Poland and continue its growth story for years to come.

Corsair's partners echoed Marcin's sentiments, emphasizing their confidence in MJM's management team and their ambitious growth agenda. They recognized MJM as an outstanding company that aligns with Corsair's investment strategy in Poland's commercial insurance distribution market. The partnership aims to capitalize on the significant opportunity ahead, building on MJM's success and expanding its product offerings and market reach through strategic acquisitions and partnerships.

Corsair, as a specialist investment firm, offers opportunities for investors and solutions for companies in the private markets. Its buyouts business focuses on making control investments in payments, software, and business services sectors. Alongside this, the infrastructure business operates in collaboration with Investcorp, targeting core plus and value-added opportunities in transportation, logistics, and associated infrastructure subsectors. Since its inception, Corsair has invested $13.6 billion in capital across buyouts and infrastructure investments.

MJM Holdings positions itself as one of Poland's leading insurance distribution businesses. It comprises several best-in-class platforms, including Attis Broker, Smartt Re, MJM Brokers, and MJM Risk Management. These platforms provide a comprehensive range of insurance solutions tailored to the specific needs and objectives of clients. With a network of eight offices and over 200 employees, MJM serves more than 1,500 clients in Poland and internationally.

This strategic acquisition by Corsair signifies a significant milestone in the development of MJM Holdings and further strengthens Corsair's presence in the European commercial insurance market. As both companies join forces, they aim to drive innovation, expand their market share, and provide exceptional service to their clients. With Corsair's backing, MJM is well-positioned to achieve its growth objectives and become a dominant player in the Polish insurance industry.