bpv Grigorescu Stefanica advised Otto Broker de Asigurare, one of the leading providers of insurance brokerage services, who attracted the first private equity investment on the insurance brokerage market in Romania of a total amount of EUR 4 million.
The investment is the first of its kind which the private equity fund The Foundations 1.0 SEE makes in Romania. A team of lawyers led by managing partner Cătălin Grigorescu has advised the company and its shareholders throughout the entire transaction process leading to the signing of the investment and shareholders’ agreement.
The transaction involved both the implementation of general private equity concepts relevant in such matters, as well as designing special provisions regarding the evaluation of performance and future business objectives in a complex and dynamic regulatory framework which can significantly impact the evolution of the insurance brokerage market.
The investment is yet another confirmation of the fact that the insurance brokerage market in Romania is becoming increasingly sophisticated and the local players are looking to strengthen or consolidate their positions in an extremely competitive environment.