Jefferson Capital, a consumer debt specialist backed by JC Flowers & Co., has raised $150m in its Nasdaq debut, marking a significant milestone in the private equity firm’s long-term investment strategy.

The company priced its shares at $15 each, at the bottom of its marketed range, resulting in a market capitalisation of $972m. A total of 10 million shares were sold in the IPO, including 625,000 offered by the company itself and the remaining by existing shareholders, led by JC Flowers.

The private equity firm, which acquired a majority stake in Jefferson Capital in 2018, will retain 68.9% of voting power post-IPO, underlining its continued confidence in the business. The IPO, scheduled to begin trading under the ticker JCAP, reflects a growing trend among private equity firms to monetise their investments through public markets while maintaining operational control.

Founded in 2002 and led by CEO David Burton, Jefferson Capital purchases charged-off consumer debt from credit cards, auto loans, and other sources. The company reported strong financial performance in Q1 2025, with net income of $64.2m on $154.9m in revenue – up from $32.9m and $99.9m, respectively, in the same quarter of 2024.

In the past year, Jefferson generated $433.3m in revenue and $128.9m in net income, underscoring its appeal as a public market candidate. The firm distinguishes itself from competitors by outsourcing collections while focusing internally on data analytics and pricing efficiency across its core markets – the US, Canada, the UK, and Latin America.

The listing provides JC Flowers with public market validation while allowing the firm to preserve long-term control over Jefferson Capital’s future direction.

Source: Bloomberg

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