Latest news with #JCFlowers
Bloomberg
26-06-2025
- Business
- Bloomberg
Jefferson Capital Rises 27% After Bottom-Priced $150 Million IPO
Jefferson Capital Inc. shares rose as much as 27% in its public debut after the company and some of its backers raised $150 million in an initial public offering. Shares in the buyer of charged-off consumer debt traded at around $18 each as of 11:02 a.m. on Thursday in New York, versus an IPO price of $15 apiece. The company and investors including private equity firm JC Flowers & Co. sold about 10 million shares at the bottom of the marketed range.
Yahoo
17-06-2025
- Business
- Yahoo
Wefox wraps up sale of Italian operations to J.C. Flowers
Wefox has concluded the sale of its Italian operations, wefox MGA and wefox Services Italy, to investment funds overseen by J.C. Flowers, a private equity firm. The completion of this acquisition, first announced in May, signifies a strategic shift for the company as it now operates as an independent entity in the Italian insurance market. The company's existing leadership team will continue to guide its strategy, with an emphasis on technological innovation and expansion in high-potential segments, J.C. Flowers said in a statement. Wefox Italia plans to unveil a new brand identity and share further details on its strategic direction soon. The subsidiaries involved in the deal are focused on affinity distribution channels, with a concentration on motor insurance products. This divestiture is part of a strategy by wefox to enhance its financial flexibility and represents the culmination of the company's restructuring process. The sale permits the management team at wefox, led by CEO Joachim Müller, to dedicate their efforts to the development of the company's principal business activities and establish a foundation for long-term financial stability. The offloading of the Italian subsidiaries is consistent with a series of strategic moves by wefox aimed at streamlining its operations. Earlier in the year, wefox Insurance had agreed to transfer its run-off portfolio to DARAG, which included various lines such as motor damage, third-party liability, private liability, and property business spanning Germany, Italy, and Switzerland. In August last year, the wefox Group announced its exit from the German insurance market, which involved the sale of assona to the Ecclesia Group and the transfer of its insurance brokerage operations to IWV Versicherungsservice via the sale of a subsidiary. "Wefox wraps up sale of Italian operations to J.C. Flowers " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
16-06-2025
- Business
- Yahoo
J.C. Flowers Completes Acquisition of Wefox Italia
A decisive step toward consolidating an innovative platform serving the insurance ecosystem MILAN, June 16, 2025 /PRNewswire/ -- Wefox Italia, an Italian insurance enabler serving the entire insurance ecosystem, announced today that J.C. Flowers & Co., a leading private investment firm dedicated to investing globally in the financial services industry, has completed the acquisition of the company. Terms of the transaction were not disclosed. The completion of the acquisition, originally announced on 16 May, officially ushers in a new phase of growth for the company, which will continue its journey as an independent player in the Italian insurance market. The existing wefox Italia leadership team will lead the company under its new structure, focused on technological innovation and growth in high-potential segments. The company plans to launch a new brand identity and further details on its strategy in the near future. J.C. FlowersJ.C. Flowers is a leading private investment firm dedicated to investing globally in the financial services industry. Founded in 1998, the firm has invested more than $18 billion of capital, including co-investment, in 71 portfolio companies in 18 countries across a range of industry subsectors including banking, insurance and reinsurance, securities firms, specialty finance, and services and asset management. With approximately $5 billion of assets under management, J.C. Flowers has offices in New York, London and Palm Beach. For more information, please visit wefox. Empowering in 2015, wefox is an insurtech company driven by a single goal: empowering insurance by leading the digital transformation of the industry and enabling seamless collaboration among all involved stakeholders. Press contactsFor Wefox Italia:Roberto Patriarca, Giulia Polvara, Federica Timpani+ 39 335 650 9568, +39 334 282 3514, +39 351 064 4559roberto@ For J.C. Flowers:Jennifer HursonLambert by LLYC+1 845 507 0571Jhurson@ View original content: SOURCE J.C. Flowers & Co. Sign in to access your portfolio
CTV News
13-06-2025
- Business
- CTV News
J.C. Flowers-backed Jefferson Capital eyes US$1.1B valuation in US IPO
The Nasdaq MarketSite in New York's Times Square, on May 16, 2012. (AP / Richard Drew) Private equity-backed Jefferson Capital said on Friday it was targeting a valuation of up to $1.1 billion in its U.S. initial public offering, as buyout firms look to take advantage of an improving new listings market. The company, and some of its investors, are seeking to raise up to $170 million by offering 10 million shares priced between $15 and $17 each, in what would be a rare flotation from the debt buyer industry. Mounting pressure on financial sponsors to return money to investors is encouraging buyout firms to list their portfolio companies. A winning streak for latest U.S. stock market entrants has also boosted the IPO market, particularly for tariff-insulated companies. Jefferson is offering 625,000 shares in the IPO, while selling stockholders, including J.C. Flowers, are putting up about 9.4 million shares. Founded in 2002, the Minneapolis, Minn.-based company purchases and manages charged-off and bankruptcy receivables with operations mainly in the U.S., Canada, the U.K. and Latin America. It expanded into Canada with the acquisition of debt buyer Canaccede Financial Group in 2020. The company had net income of $128.9 million and revenue of $433.3 million in 2024, up 15.6 and 34.1 per cent, respectively, over the year earlier. Jefferson competes against PRA Group, Encore Capital Group, Resurgent Capital Services and Cavalry Portfolio Services in its core U.S. market. Investment firm J.C. Flowers had acquired Jefferson from buyout firm Flexpoint Ford in 2018. Jefferson will list on the Nasdaq under the symbol JCAP. Jefferies and Keefe, Bruyette & Woods are the lead underwriters for the offering. J.C. Flowers will own about 68.9 per cent of Jefferson after the offering. (Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Shilpi Majumdar)
Reuters
13-06-2025
- Business
- Reuters
JC Flowers-backed Jefferson Capital targets $1.1 billion valuation in US IPO
June 13 (Reuters) - Private equity-backed Jefferson Capital is targeting a valuation of up to $1.1 billion in its initial public offering in the United States, the debt buyer said on Friday. The Minneapolis, Minnesota-based company and some of its existing shareholders are seeking to raise up to $170 million by offering 10 million shares priced between $15 and $17 each. Investment firm J.C. Flowers had acquired Jefferson Capital from buyout firm Flexpoint Ford in 2018. Jefferson Capital will list on the Nasdaq under the symbol "JCAP". Jefferies and Keefe, Bruyette & Woods are the lead underwriters for the offering.
