COBALT advised Netrisk Group on acquiring an insurance services aggregator Edrauda

COBALT advised Netrisk Group, the fastest growing online insurance innovators in Central and Eastern Europe, on acquiring an insurance services aggregator Edrauda. The Lithuanian platform, which offers the services of different insurers for comparison, selection and purchase online, joins the family of popular regional insurance aggregators, which consists of such names as Netrisk.hu, Biztositas.hu, Klikpojisteni.cz, Porovnej24.cz and Netfinancie.sk .

In addition to Lithuania, Netrisk Group operates in Hungary, the Czech Republic and Slovakia. The group is owned by the world’s leading private equity firm TA Associates and the technology investment fund MCI EuroVentures.

Along with the acquisition of Edrauda.lt, Robert Sokolowski, the new head of Netrisk Group, will start working in the group. R.Sokolowski, who has extensive experience in the insurance sector, promises to further strengthen the group’s leading position in the region by further uniting leading insurance aggregators in different countries and focusing exclusively on the consumer’s shopping experience when choosing, comparing and purchasing insurance policies online.

Prior to the transaction with the international online insurance group, the main shareholder of Edrauda.lt was the private limited company ME Investicija, among the managed investments of which are Girteka Logistics, which manages the largest own truck fleet in Europe, and commercial real estate developer SIRIN Development.

COBALT advised Change Ventures on the structuring of the transaction, drafted transaction documentation, represented Change Ventures in negotiations, conducted legal due diligence and advised on other transaction-related matters. COBALT team was comprised of Partner Akvilė Bosaitė and Senior Associates Lina Aleknaitė-van der Molen and Julija Aleška.