Klik operates its online insurance brokerage in the Czech Republic and Slovakia under the Klik.cz and Klik.sk domain names
Benson Oak sells Klik to TA Associates-backed firm. (Credit: Pete Linforth from Pixabay)
Benson Oak Capital, a European investment banking boutique, said that its private equity arm and co-investors have offloaded 100% of their stake in online insurance broker Klikpojisteni.cz (Klik) to a company owned by TA Associates and MCI EuroVentures.
Klik operates its online insurance brokerage in the Czech Republic and Slovakia under the Klik.cz and Klik.sk domain names. It has offices across Prague, Usti nad Labem, and Bratislava.
The online broker is engaged in providing clients the ability to make comparisons of prices for non-life and life insurance products. These include MTPL, CASCO, home, travel, and term life insurance products.
Benson Oak Capital founder Gabriel Eichler said: “We are very proud of what Klik has achieved, and pleased to have assisted in its evolution from a start-up to a leading brand in the burgeoning online insurance market in the region, employing over 120 people in the Czech Republic and Slovakia.
“Klik will have the opportunity to grow further and provide increasing value to its customers in partnership with Netrisk and under the leadership of TA Associates, one of the global leaders in growth private equity.”
Klik will now join forces with Netrisk
The buyer of Klik is the owner of Netrisk, the operator of the Hungarian online insurance brokerages Netrisk.hu and Biztositas.hu. According to Benson Oak Capital, Klik.cz and Klik.sk will now join the two Hungarian online insurance brokerages in becoming the key components of Central European Online Insurance Brokerage Group.
Klik founder and CEO and Chairman Andrew Fuchs said: “Klik has achieved a great deal since it was founded nine years ago, delivering impressive sales growth while consistently being the most innovative player in its local markets.
“I believe that the investment of a global private equity firm, such as TA Associates via Netrisk, is proof of the strength of our business and its continued importance in the Czech and Slovak insurance markets. Through the combination of our efforts and in partnership with a regional leader like Netrisk, I believe that we will be able to grow significantly in the coming years.”