J.C. Flowers and Bain Back The Co-operative Bank J.C. Flowers & Co.and Bain Capital Credit has agreed to purchase shares of The Co-operative Bank plc, resulting in a change in the shareholders of its ultimate holding company, The Co-operative Bank Holdings Limited, currently held by BlueMountain. The acquisition would see J.C. Flowers & Co. and Bain Capital Credit become significant investors in the bank alongside its five other existing financial sponsor investors. Nick Slape, chief executive officer of the Co-operative Bank, commented, “We are delighted to welcome J.C. Flowers & Co and Bain Capital Credit and we are pleased that they share our positive view of the future possibilities for our bank. As our recent results show, we are on track with our transformation and the business continues to perform resiliently as we focus on supporting our customers during these challenging times. We head into the next stage of our transformation with growth in mortgage lending, a renewed and growing SME banking business and improved digitization to better serve customers. Our commitment to being a leader in ESG has been central to our brand for decades, given our heritage in the co-operative movement, and we believe this sets us apart in the market as we work with all our stakeholders to realize our Bank’s potential.”