Travers Smith LLP has advised Hungarian online insurance broker Netrisk, a company majority-owned by TA Associates, on its acquisition of Czech Republic-based brokerage Klikpojisteni.cz.
Klik was founded in 2011 and was a long-standing investee company of Benson Oak Capital, a private equity fund based in the Czech Republic and Slovakia. Klik management have reinvested into the Netrisk group and will continue to run the company under the Klik brand as it continues to innovate and provide high value to both insurers and policy-holders.
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.”
The Travers Smith team was led by Co-Head of Corporate and Private Equity & Financial Sponsors Head and Partner, Paul Dolman, assisted by Associates Matt Powrie and Hattie Langworth. Finance advice was provided by Finance Partner Donald Lowe, assisted by Associate Michael Leadbeater.
Tereza Naučová (Counsel) and Kateřina Kulhánková (Senior Associate) of Wolf Theiss Prague provided Czech local law advice. János Tóth (Partner) and Péter Ihász (Associate) of Wolf Theiss Budapest provided Hungarian local law advice. Slovakian local law advice was provided by Wolf Theiss Bratislava.
Klik, management and Benson Oak were advised by Weinhold Legal and corporate finance advisers CORPIN.
Travers Smith advised on TA Associates' original investment in Netrisk in January 2020, alongside minority investors MCI EuroVentures, a technology investment fund based in Poland.
