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Pollen Street Capital acquires majority stake in BIK

Pollen Street Capital, an independent alternative asset investment management company focused on the financial and business services sectors, has acquired a majority stake in BIK, a Polish insurance services provider.

BIK is a rapidly-growing insurance services platform focused primarily on the Corporate Motor insurance market in Poland. The business was established in 1999 and has since evolved into a leading specialist, offering an end-to-end service from initial policy search and selection advice, to documentation fulfilment, in-life administration and claims management.
 
The stake was acquired by funds managed by Pollen Street Capital from Syntaxis Capital, a CEE-focused growth credit manager, and BIK’s founding shareholders, one of whom will retain a significant minority stake in the business. The incumbent management team will stay in place to lead the business through its next phase of growth.
 
Przemek Szczepanski, Partner at Syntaxis Capital, says: “We are pleased to have attracted such an experienced investor that will support the Company in its next growth stage. Since our original investment BIK has significantly strengthened its market position, tripling Gross Written Premiums while maintaining industry leading profitability, capitalising on a continuous pace of innovation, comprehensive offering and superior quality of service. With strong management and clearly defined strategy the Company is a great platform for further expansion.”

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