Adnan Abdel-Razzak, +971-(0)4-428-4172, email@example.com
Warsaw, Poland and Washington, DC, February 15, 2017 – Darby Private Equity (“Darby”), a private equity arm of Franklin Templeton Investments, announced that Darby Converging Europe Fund III (SCS) SICAR (“DCEF III”) has completed a mezzanine debt investment in Unilink S.A. (“Unilink”), strengthening Unilink’s balance sheet and providing capital for growth through acquisitions.
Financial details of the transaction were not disclosed.
Unilink is the leading insurance multiagency in Poland offering products of over 40 insurance providers through a distribution network of approximately 8,000 sales representatives. The recent merger with Insurance Service created a clear market leader with over PLN 450 million (approximately US $110.5 million) gross written premiums issued in 2016, which was a significant milestone towards Unilink’s goal of achieving PLN 1 billion (around US $245 million) gross written premiums by 2020; a sector leading figure in Poland.
“The expansion capital from DCEF III allows us to continue growing our distribution network while maintaining the highest service levels provided to our clients, distribution partners and insurance companies,” said Igor Rusinowski, CEO of Unilink. “Financial backing of a strong and reputable investment fund is proof of confidence in our business model and our position as a valuable strategic partner to both our clients and insurance providers. Engagement of a leading global asset manager in our future development is the strongest confirmation of our solid financial standing and managerial expertise.”
“We are supportive of Unilink’s successful management team that has a proven track record of developing the business both organically and through acquisitions. We are confident that, with our financial investment, Unilink will continue its impressive growth trajectory, strengthening its position as an undisputed market leader,” commented Arkadiusz Podziewski, Principal in Darby’s Warsaw office.
“The insurance intermediation market remains fragmented. At the same time, drive for performance improvements by insurance providers, changes in distribution models driven by technology, and the higher complexity of regulation surrounding insurance distribution all contribute to increasing pressure on service quality and efficiency. Market consolidation is the natural response to these challenges, and Unilink is best positioned to lead such a consolidation trend,” added Michal Jozwiak, Vice President in Darby’s Warsaw office.
About Darby Private Equity
Darby Private Equity was founded in 1994 by The Honorable Nicholas F. Brady, who served as U.S. Secretary of the Treasury between 1988 and 1993. Richard Frank joined the firm as CEO in 1997 after his career at the International Finance Corporation (IFC)/World Bank. In 2003, Darby became a fully owned subsidiary of Franklin Resources, Inc. For more information please visit darbyoverseas.com.
About Franklin Templeton Investments
Franklin Templeton Investments provides global and domestic investment management to retail, institutional and sovereign wealth clients in over 180 countries. Through specialized teams, the company has expertise across all asset classes – including equity, fixed income, alternative and custom solutions. The company’s more than 600 investment professionals are supported by its integrated, worldwide team of risk management professionals and global trading desk network. With offices in 35 countries, the California-based company has more than 65 years of investment experience and over $739 billion in assets under management as of July 31, 2016. For more information, please visit franklintempleton.com.
Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization operating as Franklin Templeton Investments. Franklin Templeton Investments provides global and domestic investment management to retail, institutional and sovereign wealth clients in over 170 countries. Through specialized teams, the company has expertise across all asset classes—including equity, fixed income, alternative and custom solutions. The company’s more than 650 investment professionals are supported by its integrated, worldwide team of risk management professionals and global trading desk network. With offices in over 30 countries, the California-based company has 70 years of investment experience and over $728 billion in assets under management as of January 31, 2017. For more information, please visit franklinresources.com.
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