MCI to sell Netrisk

MCI will retain a 23.7% stake in Netrisk, whose management hold a 1.3% stake in the company. Minority shareholder AMC Capital is selling all of its shares in the company. As a result of the transaction, TA Associates will hold 75% of Netrisk's shares.

MCI has realised a 3x return on its investment and 73% IRR as a result of its partial exit.

Netrisk is a portfolio company of MCI.EuroVentures 1.0, a 2008-vintage buyout fund that invests €15-30m in medium-sized companies with a preference for media, travel, telecoms, e-commerce, transport, logistics, B2B services and software in central and eastern Europe.

Since MCI's initial investment, the company acquired Hungarian online insurance agent Biztosítás.hu in 2019. The company claims the deal has added 30% to group revenue.

Netrisk plans to consider acquisition opportunities in CEE, including online, multi-channel and offline companies involved in the distribution of personal-line insurance products.

Previous funding
In 2010, buyout house Enterprise Investors via Polish Enterprise Fund VI acquired an 80% stake in Netrisk for €23m from the company's founder and financial investors. In 2017, Enterprise Investors sold the company to MCI in a deal valued at €56.5m.

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 has $10m in estimated revenues annually, according to Crunchbase.

People
TA Associates – Maxime Cancre (senior vice-president). 
MCI Capital Group – Krzysztof Konopiński (partner).
Netrisk – László Sebestyén (president of the management board).

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• Topics
• Buyouts
• Exits
• CEE
• Financials
• Hungary
• MCI Management