JC Flowers takes over majority of CB Consulbrokers

JC Flowers & Co., a U.S.-based private equity firm specializing in financial services, has reached an agreement to acquire a majority stake in CB Consulbrokers S.p.A., an insurance broker focused on providing insurance solutions for public entities, government administrations, and medium to large companies. The transaction is expected to close in the first half of 2025, pending certain governmental approvals and contractual conditions.

JC Flowers takes over majority of CB Consulbrokers

Until now, the company was 53.1% controlled by Euro Building Management, with founders Antonio Perretti (21.9%), Maurizio Fiore (6%), Alfredo Amato (1.6%), and Egidio Comodo (2.3%) holding minority stakes. EY (financial advisor) and the Molinari law firm assisted J.C. Flowers & Co., while Phoenix Capital (financial advisor) and Bonelli Erede (legal advisor) supported Consulbrokers. According to a joint statement from the companies, this investment is a significant step in Consulbrokers' development plan, which was approved by shareholders at the end of 2023 and is focused on strong growth through acquisitions, investments in technology, and human capital development.

Company's history

Founded in 1988, Consulbrokers is headquartered in Milan and has a presence in 15 Italian cities. It is one of the leading insurance brokers in the country, specializing in insurance solutions for public entities, government administrations, and medium to large businesses. In 2022, the last available financial year, the group generated €4.8 million in revenue, with an EBITDA of €326,000 (see the Leanus report after registering for free).