Enterprise sells Netrisk.hu to MCI for €56.5m

The deal ends a seven-year holding period for Enterprise Investors. The GP acquired an 80% stake in Netrisk.hu in July 2010 via Polish Enterprise Fund VI.

Mezzanine Management has provided a long-term debt and equity package of €15.8m to fund the deal.

Under its ownership, Netrisk.hu developed its product offering in non-life insurance products such as home, property and travel insurance policies. It also started selling retail banking products and offering online comparison of telecom, cable, internet and TV packages in Hungary.

MCI acquired the firm via its MCI.EuroVentures fund.

Previous funding
In July 2010, the Polish Enterprise Fund VI vehicle acquired Netrisk.hu for €23m from the company's founder and financial investors.

Company
Established in 1994 and headquartered in Budapest, Netrisk.hu is an independent online insurance broker in Hungary, distributing non-life insurance products.

The company posted revenues of €8.8m in 2016. It expects to grow its turnover by 23% in 2017.

People
Enterprise Investors – Dariusz Prończuk (managing partner).
MCI Capital Group – Tomasz Czechowicz, Maciej Kowalski (fund managers).
Mezzanine Management – Przemysław Głębocki (managing partner).

Advisers
Equity – Clairfield International Austria/Hungary (financial due diligence); Dentons (legal).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Exits
• Buyouts
• CEE
• Financials
• Hungary
• Poland
• Enterprise Investors
• MCI Management
• Secondary buyout