M&A Deal Summary

CVC Capital Partners Acquires Ethniki Insurance

On March 26, 2021, private equity firm CVC Capital Partners acquired financial services company Ethniki Insurance from National Bank of Greece for 505M EUR

Acquisition Highlights
  • This is CVC Capital Partners’ 16th transaction in the Financial Services sector.
  • This is CVC Capital Partners’ 49th largest (disclosed) transaction.
  • This is CVC Capital Partners’ 5th transaction in Greece.
Investment Fate
  • Ethniki Insurance was sold to a strategic buyer in 2025 for 600M EUR.

M&A Deal Summary

Date 2021-03-26
Target Ethniki Insurance
Sector Financial Services
Buyer(s) CVC Capital Partners
Sellers(s) National Bank of Greece
Deal Type Divestiture
Deal Value 505M EUR

Target

Ethniki Insurance

Athens, Greece
Ethniki Insurance is a provider of mortgage services throughout the nation. Ethniki Insurance is based in Athens, Greece.

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Buyer(S) 1

Buyer

CVC Capital Partners

Luxembourg, Luxembourg

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1981
PE ASSETS 177.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

CVC Capital Partners is a global private equity firm focused on investments in large companies located in Europe, North America, and Asia. CVC looks for opportunities with stable cash flows and talented management, and will consider businesses in a variety of industries. Target sectors include textiles, industrial products, waste management, building materials, energy/utilities, business services, financial services, distribution, healthcare, media, semiconductors, and gaming. CVC can handle transactions valued from €200 million to €10 billion. CVC Capital Partners was formed in 1981 and is based in Luxembourg.


DEAL STATS #
Overall 274 of 328
Sector: Financial Services M&A 16 of 17
Type: Divestiture M&A Deals 34 of 40
Country: Greece M&A 5 of 6
Year: 2021 M&A 10 of 35
Size (of disclosed) 49 of 58
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-21 ironSource

Tel Aviv, Israel

ironSource is a high-growth mobile advertising and mobile gaming technology market that operates globally. Through its various technologies, the company works with a unique combination of customers including software, app, and game developers, telecom operators, and mobile device original equipment manufacturers. The company focuses on developing technologies for app monetization and distribution, with its core products targeting game developers. ironSource was founded in 2010 and is based in Tel Aviv, Israel.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-30 Corialis

Lokeren, Belgium

Corialis is a manufacturer of aluminum profiles and systems, supplying door, window, and conservatory manufacturers in both the new construction and refurbishment markets. Corialis was founded in 1984 and is based in Lokeren, Belgium.

Sell -

Seller(S) 1

SELLER

National Bank of Greece

Athens, Greece

Category Company
Founded 1841
Sector Financial Services
Employees7,852
Revenue 2.9B USD (2024)
DESCRIPTION

National Bank of Greece provides financial products and services primarily in Greece, Cyprus, North Macedonia, Romania, Bulgaria, Luxembourg, the Netherlands, and the United Kingdom. National Bank of Greece was founded in 1841 and is based in Athens, Greece.


DEAL STATS #
Overall 1 of 1
Sector: Financial Services M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
Country: Greece M&A 1 of 1
Year: 2021 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-10-01 Banca Romaneasca SA

Bucharest, Romania

Banca Romaneasca SA is a provider of high quality bank services.

Buy -