Benson Oak Capital Sells Online Broker Klikpojisteni To TA Associates
Benson Oak Capital have sold 100% of their stake in Klikpojisteni.cz, a.s. to a company majority owned by TA Associates and minority owned by MCI EuroVentures, a technology investment fund.
Klik operates a leading online insurance brokerage in the Czech Republic and Slovakia under domain names Klik.cz and Klik.sk, with offices in Prague, Usti nad Labem and Bratislava. The buyer of Klik also owns Netrisk, which operates Netrisk.hu and Biztositas.hu, two Hungarian online insurance brokerages. Klik.cz and Klik.sk will thus become key components of Central European Online Insurance Brokerage Group alongside netrisk.hu and Biztositas.hu.
Benson Oak and other investors funded Klik from its inception in 2011, and supported the company with multiple rounds of investment. Major Klik shareholders will become minority shareholders in the combined group, a sign of their continued commitment and belief in the team and the market.
Gabriel Eichler, the founder of Benson Oak, said: “We are very proud of what Klik has achieved, and pleased to have assisted in its evolution from a start-up to a leading brand in the burgeoning online insurance market in the region, employing over 120 people in the Czech Republic and Slovakia. Klik will have the opportunity to grow further and provide increasing value to its customers in partnership with Netrisk and under the leadership of TA Associates, one of the global leaders in growth private equity.”
Maxime Cancre, Senior Vice President at TA Associates, said: “We believe the combination of Klik and Netrisk creates a leading online insurance brokerage platform across three countries in the Central and Eastern European region, in line with TA’s strategy when we invested in Netrisk in January 2020. We are excited to bring Andrew Fuchs, the Klik team and the business into the Netrisk group.”
CORPIN served as financial advisers and Weinhold as legal advisers to the Sellers on the transaction.
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