Corsair Capital has entered a definitive deal to buy a majority stake in independent commercial insurance broker MJM.
The deal consideration was not shared.
Based in Poland, MJM was established in 2017. Its services span P&C insurance, commercial motor insurance and reinsurance, offering tailored solutions and specialist services.
The agreement will see Corsair purchasing most of the equity from MJM’s existing shareholders, with Posella and Solter Capital exiting completely.
MJM founder and CEO Marcin Ślotała will remain at the helm, with the original management team reinvesting a significant portion of their equity back into the company.
Corsair, with its experience in business services and the insurance sector, plans to support MJM as part of its buy-and-build strategy.
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The deal builds on MJM’s successful acquisitions such as Attis Broker in 2018 and Smartt Re in 2021.
Ślotała said: “Since our founding in 2017, we have had a clear vision of building the leading independent insurance broker active in the Polish market, and our success to date has been driven by putting our customers and colleagues at the heart of everything we do.
“As we enter the next stage of our growth, we are glad to work with a like-minded partner that brings an impressive track record of supporting businesses like ours, and with further investment and the significant experience provided by Corsair, we look forward to continuing our growth story for years to come.”
Corsair partner Raja Hadji-Touma said: “We are delighted to invest in MJM, an outstanding company built under Marcin Ślotała’s leadership.
“We share Marcin’s vision and ambitious growth agenda and view MJM as the ideal platform to invest in Poland’s commercial insurance distribution market, with scope to continue to build on its leading specialist positions and broaden its product and end market offering through acquisitions and strategic partnerships.”