Deloitte Legal advised MCI.EuroVentures and AMC Capital IV on sale of shares in Netrisk.hu to TA Associates
Warsaw, 13 January 2020
Deloitte Legal advised MCI.EuroVentures and AMC Capital IV fund - whose advisor is Mezzanine Management in a transaction regarding a sale of shares in Netrisk.hu (the Hungarian on-line insurance sales leader) to TA Associates, a global investment fund for PLN 235 million.
Following the transaction, holding 23.7 percent of shares, MCI will remain a major investor in the company, able to continuously build the value of the Netrisk Group on the regional level. TA Associates and Netrisk’s management will hold 75% and 1.3% of the company’s shares, respectively. Based on the Netrisk Group, MCI and TA Associates want to build a regional digital leader and provide nearly 100 million consumers in Central and Eastern Europe with access to a modern insurance product management platform.
The advice provided by Deloitte Legal included comprehensive legal support in the process of developing the transaction structure, preparation and negotiation of its documentation.
The Deloitte Legal team comprised of M&A specialists:
- Paweł Moskwa (Partner),
- Karol Kicun (Partner),
- Diana Sofu (Senior Associate);
as well as Banking & Finance experts:
- Agnieszka Ziółek (Partner),
- Mariusz Banaś (Managing Associate),
- Aleksandra Witowska (Senior Associate).
The project team included also lawyers from Deloitte Legal in Budapest:
- Peter Gondocz (Partner),
- Luca Bokor (Associate Partner),
- Akos Szauter (Senior Managing Associate),
- Dorottya Marjai (Senior Associate).
About Deloitte Legal
Deloitte Legal is a part of the international network of law firms associated with Deloitte. At present it employs over 2,500 lawyers in 85 countries and ranks among the largest global law firms. Deloitte Legal, Pasternak, Korba, Moskwa, Jarmul i Wspólnicy Kancelaria Prawnicza sp. k. has a network of offices in the largest Polish cities: Warsaw, Poznań, Wrocław, Kraków, Katowice, Szczecin, and Łódź. Services to our Clients in Poland are provided by a team of over 90 lawyers, mainly attorneys at law and barristers.
MCI is one of the largest technology investment funds in the region of Central and Eastern Europe, dedicated to digital private equity. MCI funds manage PLN 2.3 billion (EUR 550 million), investing capital in the areas of: pure-technology companies (disruptors), companies undergoing digital transformation and IT infrastructure. In over 20 years of history, the funds have carried out more than 100 investments and 60 exits. MCI aims at building regional digital champions. The Fund was involved in, among others, Mall.cz (e-commerce, Czech Republic), WP.pl (digital media, Poland), Invia (e-travel, CEE), Dotpay/eCard (fintech, Poland) and iZettle (fintech, global). More information about MCI can be found at www.mci.eu.
About Mezzanine Management
Mezzanine Management is the exclusive advisor to the AMC Capital IV fund, a pioneer on the mezzanine financing market in Central Europe. AMC IV has already completed 8 investments and is backed with capital commitments of EUR 264m, making it AMC’s largest fund to date. It is also the 53rd investment of the AMC family of funds in the region, whose total capital exceeds EUR 800 million.
About TA Associates
TA Associates is a leading global growth private equity firm. Focused on targeted sectors within five industries – technology, healthcare, financial services, consumer and business services – TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 500 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high quality growth companies.
Netrisk, founded in 1994, is the leading independent online insurance brokerage company in Hungary. In 2001, it became the first Hungarian company offering a platform for comparing and distributing insurance products via the internet. Today, Netrisk distributes several types of non-life insurance products, including MTPL, casco, home and travel insurance policies. At the end of 2019, Netrisk acquired one of its largest competitors, Biztositas.hu.