
Pollen Street acquires BIK from Syntaxis
Pollen Street Capital has acquired Polish motor insurance business BIK from Central European mezzanine provider Syntaxis Capital.
The transaction sees Pollen Street acquire a majority stake in the insurance provider from CEE-focused growth credit manager Syntaxis and BIK's founding shareholders. The management team will stay in place to lead the business through its next phase of growth.
Syntaxis exits after a four-year holding period, during which it supported the development of the company in the financial and business services sectors across Europe.
With Pollen Street on board, BIK intends to partner with the management team to help the business gain market share and develop new customer offerings.
Previous funding
Central European mezzanine provider Syntaxis Capital invested in BIK Brokers in February 2014. The funding was used to support the company's growth by employing a buy-and-build strategy.
Company
Established in 1999 and headquartered in Gdansk, BIK provides commercial wholesale insurance in Poland, acting as an intermediary between its clients and insurance providers. BIK's clients include car fleet management firms, leasing companies, vehicle manufacturers and corporates. The company analyses, structures and secures third-party liability insurance, casco cover and claims management.
People
Pollen Street Capital – Lindsey McMurray (managing partner).
Syntaxis Capital – Przemek Szczepanski (partner).
BIK – Roman Czarnowski (CEO).
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