First private equity investment on the insurance brokerage market in Romania

bpv Grigorescu Stefanica, an independent Romanian law firm with a full service offering for projects and litigation and a combination of legal and tax advisory capabilities, counseled 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.

According to the press release Govnet received, this investment is in fact the first of its kind made by The Foundations 1.0 SEE private equity fund in Romania. The company and its shareholders were therefore advised throughout the entire process by a team of lawyers led by Catalin Grigorescu, the managing partner. 

The transaction itself involved the implementation of general private equity concepts which are relevant in such matters as well as the designing of special provisions regarding performance evaluation and future business objectives.

According to the aforementioned press release, “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.”

bpv Grigorescu Stefanică has a solid experience in providing legal assistance to companies interested in attracting private funding and activates also in the joint venture BACG, a company formed together with BAC Investment Banking and is a Bucharest Stock Exchange authorized consultant for listing on the alternative trading system, AeRO.