Netrisk.hu is the number one independent online insurance broker in Hungary, distributing nonlife insurance products - CTP insurance, CASCO, home insurance and travel insurance. In 2001, Netrisk.hu was the first to offer online price comparison and insurance broking services in Hungary. Since then, the company has maintained its market leading position, currently has 770,000 registered users, and posted HUF 1.4 bn (EUR 5m) revenues in 2009.
Enterprise Investors is one of the largest private equity and venture capital management firms in Poland and in Central and Eastern Europe. To date, the funds managed by the firm have invested EUR 1.3 billion in 119 companies from a range of sectors and have exited 91 investments, achieving total proceeds of EUR 1.4 billion. The funds currently hold investments in 28 companies from CEE.
Concorde Corporate Finance managed a full sale exercise to include potential buyers of different profiles, making full use of its international network and extensive industry experience. Commenting on the transaction Kálmán Nagy, Managing Director of Concorde Corporate Finance stated: "Leveraging the excellence of Netrisk's online business model we have managed to run a very efficient competitive tender process. The opportunity was appealing to potential strategic investors coming from various angles - online media, insurance business, financial intermediation - as well as to financial investors seeking a seasoned management team, strong market position and outstanding growth prospects. We believe that Enterprise Investors have not only paid an attractive price to the sellers but is also an ideal partner to them in taking the company to the next stage of development."
14 July 2010
For further information please contact:
| Kálmán Nagy Managing Director Tel: +36 1 489 2310 Email: k.nagy@con.hu | András Kazár Assistant Director Tel: +36 1 489 2315 Email: a.kazar@con.hu |