JackJumpers transition to exciting new ownership with Altor Capital Management

Larry Kestelman and the Tasmania JackJumpers, with the support of the National Basketball League (NBL), are proud to announce a landmark transition of the club’s ownership to Altor Capital.
 
This transition marks a significant milestone for the JackJumpers, the NBL, basketball fans and the broader Tasmania community.
 
"This is an exciting day for the NBL, the Tasmania JackJumpers and basketball in Tasmania,” NBL Owner and Executive Chairman, Larry Kestelman said.
 
“Together with the Tasmanian government and the community, we built this incredible club from the ground up in only five years and in that time the JackJumpers have become an integral part of the state and the NBL. They have enjoyed remarkable success on and off the court and brought so much joy to so many. From the outset the plan was to build a legacy piece for the state and something the community will have to support and celebrate for decades to come.”
 
Under the terms of the ownership transition agreement, Kestelman will remain involved with the club for the next two years, ensuring a smooth handover to the new ownership group. Kestelman’s continued connection is testament to his unwavering commitment to the long-term success of the JackJumpers and basketball in Tasmania.
 
“I am immensely proud of what we have been able to create here for Tasmania, basketball fans and the wider community in such a short period of time and it’s with great joy and pride, that I will hand over the club to its new owners, Altor Capital,” Kestelman added.
 
“The investment from Altor Capital ensures the JackJumpers will remain on a strong growth trajectory, and I am confident they will capitalise on the established success of the club by continuing to drive the strategy and vision to ensure long term sustainability. In Altor, we have found a truly trusted and extremely capable new owner, which will uphold the club’s values and traditions, and fully embrace its unique culture.”
 
Altor Capital Chief Investment Officer, Ben Harrison, expressed strong support for the club’s existing structure, and commitment to preserving the JackJumpers' culture and continued success.
 
"We are honoured to be entrusted with the next chapter of the Tasmania JackJumpers and will be focused on continuing the team’s incredible momentum. We intend to grow the JackJumpers’ impact on the State and in the community even further,” he said.
 
"We will also ensure fans continue to have the best entertainment experience in the country, while strengthening the club’s infrastructure, and building on the incredible foundations that have been laid since 2020. We will continue to support the JackJumpers Advisory Board and Executive team in their desire to secure a WNBL team for the state of Tasmania.”
 
Another priority for Altor Capital will be the expansion of MyState Bank Arena to increase seating capacity and address the ongoing demand for access to games following the team’s extraordinary run of sell-outs.
 
"We sincerely thank the JackJumpers' supporters for their unwavering support. Your passion and dedication are what make this club so special, and we are committed to building a future you will continue to be proud of. We guarantee fans they will continue to be at the heart of everything we do," Harrison added.
 
"This next phase of the JackJumpers' journey will be one of continual strive for excellence, and we can't wait to get started. We wish to thank Larry Kestelman, the Government of Tasmania, the JackJumpers Advisory Board led by Chair Steve Old, Christine the CEO and the team at the NBL, as well as the wonderful sponsors and Tasmanian businesses that have helped the JackJumpers become one of the most beloved sporting teams in Australia."
 
JackJumpers’ CEO, Christine Finnegan added: “This ownership transition is a very important part of the JackJumpers journey from start-up to a maturing business which has quickly demonstrated its ability to compete with the best sporting clubs in the country on and off the court.
 
“This new ownership structure provides us with an important platform to continue to build on the club’s incredible successes as an independent licence holder in the NBL, and I am proud we have been able to demonstrate our investment value in only our 5th year in existence.
 
“This announcement is about a strong future for the JackJumpers as an independent body, and I would like to thank coach Scott Roth and all the current and previous staff and players that have helped build the club from its humble beginnings for this new and exciting phase. 
 
“While celebrating and acknowledging this milestone, I want to ensure everyone understands it is business as usual for the club on and off the court as we focus on its future success. Our focus is on more community engagement and ensuring basketball continues to thrive in this great State.”
 
About Altor Capital
 
Altor Capital (Altor) is a leading alternative asset manager, investing via funds and SPV’s in growth orientated companies. Altor has operations in Sydney, Melbourne & Brisbane and has a strong history of partnering with businesses for success. For more information please contact: info@altorcapital.com.au