Benson Oak Capital and co-investors have offloaded their entire stakes in online insurance brokerage Klikpojisteni.cz (Klik).
The stake has been acquired by a company owned by TA Associates and minority owned by MCI EuroVentures.
Klik operates its online insurance brokerage under the Klik.cz and Klik.sk domain names in the Czech Republic and Slovakia.
It has offices across Prague, Usti nad Labem, and Bratislava.
The company enables people to ‘transparently compare’ prices for non-life and life insurance products, including MTPL, CASCO, home, travel and term life insurance.
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.”
Following the stake sale, Klik will continue to operate as a wholly-owned subsidiary under the Klik brand.
It will continue to be led by its original founder Andrew Fuchs and management team, including Aleš Rothbarth and Lukaš Pikal.
The company which acquired Klik also owns Netrisk, which operates Hungarian online insurance brokerages Netrisk.hu and Biztositas.hu.
Klik.cz and Klik.sk will become a key part of Central European Online Insurance Brokerage Group alongside netrisk.hu and Biztositas.hu.
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.”