Commercial, corporate and M&A in Poland
The corporate team at EY Law is regularly instructed by multinational corporates on their operations and transactions in Poland, providing them with a full-service offering that includes labour law expertise. The group, led by Zuzanna Zakrzewska, handles transactions at all stages, particularly in relation to the financial, energy, real estate and service sectors. Promoted to partner in 2019, Magdalena Kasiarz is another M&A specialist on the team, alongside legal counsel Jakub Organ.
Clifford Chance LLP's team leverages strong local and international advisory experience, with knowledge of English law, to provide clients entering or operating in Poland with a full service. The group handles day-to-day matters, such as share plans, as well as high- and mid-cap transactions across a diverse range of sectors, including energy, financial services, consumer goods, TMT and healthcare. The department is led by Agnieszka Janicka, who is noted for experience in M&A, privatisations and international equity offerings. Marcin Bartnicki is an expert in regulated market transactions, while Wojciech Polz has substantial experience in cross-border M&A. Counsel Sławomir Czerwiński has developed a strong practice in the healthcare and fast moving consumer goods sectors.
‘Very reliable and professional M&A team, good combination of local and international expertise and always available.‘
‘Agnieszka Janicka knows what type of work can be best picked up at which level, is pro-active and walks the extra mile when needed.‘
‘Excellent local market knowledge and insights.‘
Agencja Rozwoju Przemysłu
NN Investment Partners
Inalca Food & Beverage
Czech Media Invest
- Assisted Bank Millennium with the process of structuring, negotiating and signing an agreement with Société Générale regarding the acquisition of Euro Bank by Bank Millennium.
- Advised Hoist Finance, a Swedish financial services company active in nine European countries, on its acquisition of non-performing loans from Polish company GetBack.
- Advised Prudential Financial on the sale of Pramerica Życie TUiR to Unum Group.
Piotr Dulewicz leads the department at Dentons, which provides a full service for transactions, with a stand-out focus on regulated sectors including energy, life sciences, healthcare, financial services and telecoms. In a major transaction for the Polish market in 2019, Jakub Celiński advised PSA as one of the investors on the acquisition of the DCT Gdańsk port terminal from Macquarie. Paweł Grabowski is another key name, and draws on substantial experience in share and asset acquisitions, as well as leveraged and management buyouts and other forms of corporate restructuring.
‘Dentons has a large M&A team with a strong track record in energy sector transactions. They also have one of the largest regulatory teams in Poland, which makes them well-positioned to advise on our complex transactions and investment projects.‘
‘I value their practical approach to solving our problems and find them responsive and supportive.‘
‘They understand (and embrace!) the demands put on them by large US and UK institutions.‘
‘Very good cooperation in the field of operational efficiency, communication, high personal culture and extensive substantive knowledge.‘
BNP Paribas Bank Polska
- Advied PSA, the world’s largest port operator, on the acquisition of DCT Gdansk port terminal from Macquarie.
- Acted for Generali, a multinational financial services group, on the acquisition of Polish asset management company Union Investment TFI.
- Advised Equinor, a global oil, gas and energy company, on the acquisition of 50% of shares in wind offshore projects and setting up joint ventures to further develop the projects.
Greenberg Traurig Grzesiak sp. k.'s team is led by Polish M&A expert Lejb Fogelman, whose substantial experience includes corporate reorganisations, joint ventures and high-value M&A deals. Sectors of particular focus for the group include energy, mining, banking and finance, real estate, construction, medical and healthcare, TMT and FMCG. The team also includes managing partner and complex M&A expert Jarosław Grzesiak who recently advised on a number of transactions for Innova Capital relating to its consolidation on the Polish market. Transactional lawyers Rafał Baranowski and Łukasz Pawlak are also recommended.
Lejb Fogelman; Jarosław Grzesiak
‘The team is excellent, very precise and reactive.‘
‘Having worked with the Polish offices of two other law international law firms in the past, I must say that Greenberg is way above the rest of them.‘
‘Lukasz Pawlak is extremely meticulous and practical too, with an excellent knowledge of regulatory intricacies.‘
‘Stephen Horvath is a very experienced cross-border transactional lawyer, and he definitely knows a lot about Polish practice.‘
BNP Paribas Group
Abris Capital Partners
Madison International Realty
CVC Capital Partners
- Advised BNP Paribas Group on the completion of the PLN3.25bn acquisition of the core banking business of Raiffeisen Bank Polska and the investment by European Bank for Reconstruction and Development in Bank BGŻ BNP Paribas.
- Acted for Société Générale on the completion of its PLN1.83bn sale of Euro Bank to Bank Millennium.
- Assisted Deutsche Bank AG with the PLN1.29bn sale of its Polish Private and Commercial Bank business to Santander Bank Polska (formerly Bank Zachodni WKB).
Rymarz Zdort is best known for M&A deals, matters involving private equity funds, and M&A transactions within the financial services sector. A key transaction for the Polish energy sector in 2019, group leader Pawel Rymarz advised Grupa Lotos on its planned merger with PKN Orlen. Pawel Zdort is another prominent team member, and combines a specialism in M&A of public and private companies with experience in capital markets and private equity deals. Dual US and Polish qualified Lukasz Gasinski is a specialist in regulatory matters and corporate law.
‘Great knowledge and experience. Simplicity with presenting conclusions.‘
‘Pawel Rymarz provides fast and clear solutions.‘
‘The machinery of the firm works perfectly, all the time.‘
Elektrociepłownia Nowa Sarzyna
General Electric Capital
ILF Consulting Engineers Polska
Mid Europa Partners
Sanok Rubber Company
- Advised a consortium of investors, including IFM Global Infrastructure Fund, funds managed by Polish Development Fund (Polski Fundusz Rozwoju S.A.) and PSA International, on the acquisition of DCT Gdansk from Macquarie Infrastructure and Real Assets, MTAA Super, Australian Super and Statewide Super.
- Acting for Grupa Lotos on its planned €12.7bn merger with PKN Orlen.
- Advised Sanofi-Aventis on a carve-out (by way of demerger) of Zentiva Polskafrom Sanofi’s organisational structure, and the Polish aspects of the subsequent sale of Zentiva Polska to Advent International Corporation, an investment fund.
Allen & Overy, A. Pedzich sp. k.
Allen & Overy, A. Pedzich sp. k.'s M&A team is able to draw on the firm's strong financing department, enabling it to handle high-value, and often cross-border M&A transactions. Providing clients with a highly tailored service, the group houses specialists in the energy, infrastructure, manufacturing, financial services and TMT sectors. Jaroslaw Iwanicki focuses on transactions involving financial institutions, while Marta Sendrowicz leads on competition matters. Senior associate Anna Osińska is developing a varied transactional practice, with experience in deals involving the insurance, media and advertising industries.
Jarosław Iwanicki; Marta Sendrowicz
‘Knowledgeable and well oriented on the market environment, fast recommendations.‘
‘Very professional, great knowledge, realistic approach to transactions.‘
Macquarie Infrastructure and Real Assets
Bank Pekao S.A.
The Green Organic Dutchman Holdings
- Advised Banco Santander and its Polish subsidiary Santander Bank Polska on its $325m acquisition and integration of Deutsche Bank Polska’s retail business.
- Assisted Vue and its Polish subsidiary Multikino, a leading cinema operator in Poland, with the €16m acquisition of Cinema 3D.
- Advised Pekao Financial Services, and its sole shareholder Bank Pekao, on the acquisition of PZU Group’s transfer agent business.
Baker & McKenzie Krzyżowski i Wspólnicy Spółka Komandytowa divides its practice into international commercial and trade, led by Weronika Achramowicz on the one hand, and corporate and M&A on the other, which Achramowicz jointly leads alongside Tomasz Krzyzowski. Typical commercial work includes joint ventures, market entries, foreign direct investment, supply chain management, commercial contracts (global distribution, franchise, manufacturing agreements) and sanctions compliance. On the corporate and M&A front, the group handles domestic and cross-border deals, as well as company reorganisations. In March 2019, Magdalena Nasiłowska joined from DLA Piper.
Tomasz Krzyżowski; Weronika Achramowicz
TVH Parts Holding
Acteeum Central Europe
Wind Power Invest A/S
Task Retail Technology
Standard Chartered Bank
- Advised Viskase on its corporate intragroup reorganisation.
- Acted for Acteeum Central Europe on setting up a joint venture with Euilis, to develop a large-scale shipping facility in Andrychów.
- Advised Phalanx, as the owners of NYSK Holdings, a Macedonian cannabis-based products manufacturer, on its integration into Pharmacann Polska.
CMS Cameron McKenna Nabarro Olswang Pośniak i Bejm sp.k.
CMS' transactional team works closely with the firm's busy private equity and capital markets teams to advise clients across areas including the energy, life sciences, transport and logistics, retail, consumer products, financial services and insurance sectors. The group also has a particular strength in joint venture projects. Rafał Zwierz leads the team, which includes Błażej Zagórski and senior associate Olga Czyżycka, whom clients rate for her 'professional, yet down-to-earth, approach'.
‘Extremely strong negotiating skills and business minded approach, insight to quickly understand clients needs.‘
‘The team is among top such teams in Poland; it’s well organised and efficient.‘
‘Olga Czyzycka showed strong dedication and managed to carry strong load of the work. She is a highly trusted person and able to deliver results to tough deadlines.‘
‘Rafal Zwierz was great on high level subjects and negotiations. He managed to argue well with the counter-party lawyers.‘
Abris Capital Partners
Polish Development Fund
Mid Europa Partners
Liberty Global and LGI Ventures
- Advised Discovery Life Sciences on its acquisition of several Sofia Bio-owned companies in multiple jurisdictions, including Poland.
- Acted for municipal-owned utility company Stadtwerke München on the acquisition of the Jasna onshore wind farm project in Poland from developer WKN and its subsidiary Sevivon, which both belong to the PNE Group.
- Advised Generali Group on the acquisition of entities from the Concordia Group.
The team at Hogan Lovells (Warszawa) LLP works closely with the Warsaw-based tax, finance, competition, employment and regulatory departments, as well as the firm's strong global network. The group is led by Marek Wroniak, who specialises in international corporate transactions involving Poland, in addition to advisory work in relation to joint ventures and public tenders. Counsel Tomasz Zak focuses on M&A, private equity and commercial contracts.
Gdańsk Shipyard Group
Gothaer Towarzystwo Ubezpieczeń
mFinanse and mBank
Kapsch TrafficCom and Axxès
FCB Inferno Limited
Arcus Infrastructure Partners
- Advised the Gdańsk Shipyard Group on the sale of shares in Stocznia Gdańska (the Gdańsk Shipyard), and in GSG Towers to Agencja Rozwoju Przemysłu (the Industrial Development Agency).
- Acted for Gothaer Group on the sale of its Polish subsidiary, Gothaer Towarzystwo Ubezpieczeń, to Vienna Insurance Group
- Advised Shire plc on the Polish aspects of the $2.4bn sale of its oncology business to Servier.
The team at Linklaters is internationally focused, specialising in cross-jurisdictional transactions involving Poland or the wider-CEE region; the Warsaw team also benefits from the presence of UK-, US- and Swedish-qualified lawyers. It advises clients on acquisitions and exits, mergers and international corporate restructurings. The team is led by M&A and regulatory expert Tomasz Zorawski and includes Cezary Wiśniewski, who is instructed by a variety of international companies on their activity on the Polish market. Daniel Cousens is an English-qualified lawyer based in Warsaw who advises international corporates on M&A deals and investments across CEE. Marcin Schulz is noted for cross-border M&A.
‘Linklaters has a very dedicated team of lawyers, who are client oriented and not focused on themselves.‘
‘Dedication, dynamism, availability, and personal values – authenticity, humility. A pleasure to interact with them.‘
Polski Fundusz Rozwoju
SDIC Zhonglu Fruit Juice
Griffin Real Estate
Alliance Automotive Group
Cerberus Capital Management
ING Bank Slaski
Pojazdy Szynowe PESA Bydgoszcz
- Advised Polish Development Fund), the Polish sovereign fund, on its acquisition from Mid Europa Partners of Polskie Koleje Linowe SA.
- Advised SDIC Zhonglu Fruit Juice on the acquisition of the Polish juice producer Appol Group from its Polish shareholders, marking SDIC’s first investment in the Polish FMCG sector.
- Acted for Pesa Group, the largest Polish rolling stock manufacturer, on all aspects of the restructuring of its existing financing and divestment to the Polish Development Fund.
Robert Gawałkiewicz leads the group at Soltysinski Kawecki & Szlezak, which often advises international corporates on their entry into the Polish market, as well as cross-border M&A. A major deal in 2018, Krzysztof Pawlisz led a group advising Solaris Bus & Coach on its acquisition by Construcciones y Auxiliar de Ferrocarriles; a matter in which the firm assisted with the auction process, due diligence, negotiations, tax and regulatory work.
‘Our key contact person, Robert Gawalkiewicz, is fluent in German and knows German culture (as well as our company culture) very well.‘
‘All services provided by the legal office were characterized by a comprehensive and professional approach to implementing projects, excellent understanding of the construction industry and jurisprudence.‘
‘Masterminds of Polish law, makes you feel confident targets will be met whatever the issue you’re facing due to their incredible skills‘
Unibail Rodamco Westfiled BV and Złote Tarasy Warsaw III
Sokołów / Danish Crown
Solaris Bus & Coach
Goodyear Tire & Rubber Company
- Advised Solaris Bus & Coach, and its owners (Olszewski’s family), on a €300m investment into the company by Construcciones y Auxiliar de Ferrocarriles.
- Acted for Cargill plc on the acquisition of the Polish Konspol Group (including three entities) operating in the poultry business in Poland and Europe.
- Advised Eurocash on the €25m sale of PayUp Polska to Centrum Rozliczeń Elektronicznych Polskie ePłatności.
White & Case M. Studniarek i Wspólnicy - Kancelaria Prawna sp.k.'s practice spans domestic and cross-border corporate and M&A deals with a nexus in Poland. The group has a strong focus on transactions in the manufacturing sector and draws on a firm-wide strength in new technologies. Marcin Studniarek leads the team, and is often instructed by overseas-based clients on their activity on the Polish market. In August 2019, Michał Petz and a pair of associates moved over from DWF Poland Jamka Sp.k, following its acquisition of K&L Gates' Warsaw office. Aneta Hajska is another lawyer with a focus on M&A, private equity and commercial law transactions.
‘Open minded, focused on client’s needs, and always try to find the best result for win-win strategy.‘
‘White & Case’s team is guaranteed to be of the highest-quality.‘
‘Marcin Studniarek is one of the most experienced practitioners. He provides excellent services based on great legal knowledge and client-orientation.‘
Mid Europa Partners
Prime Car Management
- Advised Nets Denmark on the PLN315m acquisition of Dotcard from MCI.EuroVentures and Saltus TUW
- Assisted Mid Europa Partners with its acquisition of Intive, a digital product and software development services business based in Poland, Germany and Argentina, from Enterprise Investors
- Advised Konspol Group on the sale of its group companies to US-based, Cargill.
DLA Piper handles transactions, including M&A, venture capital and private equity, and advisory work, including restructurings and post-merger integrations, for domestic and international corporations and public sector bodies. In September 2019, the group benefited from the arrival of two partners from CMS Cameron McKenna Nabarro Olswang Pośniak i Bejm sp.k.; Jakub Marcinkowski and Marek Sawicki; the latter, having led the corporate and M&A practice at his old firm, now jointly heads the department alongside Marta Frąckowiak, an expert in the manufacturing, financial services, defence and aviation sectors. Jakub Domalik-Plakwicz is another name to note, and has developed a niche in capital markets- and private equity-related M&A.
Marek Sawicki; Marta Frąckowiak
‘The team demonstrates strategic thinking and a very business-oriented approach. I’m particularly impressed with their commitment and work ethic and open minds.‘
‘Jakub Domalik-Plakwicz is currently one of the market-leading transactional lawyers in Poland. He’s very smart and capable, and exceptionally proactive.‘
‘DLA Piper provided us with excellent level of services. The team is very skilled and effective. They are very commercial and committed to the project.‘
Allegro Capital Group
Concordia Versicherung Holding
First Data Corporation
GE Power Controls
PGE Polska Grupa Energetyczna
Powszechny Zakład Ubezpieczeń
Tar Heel Capital
WOOD & Company Financial Services
- Advised the shareholders of Multimedia Polska on the sale of 100% of the company’s shares to Vectra.
- Advised Allegro.pl on its takeover of eBillet Polska.
- Acting for General Electric on the Polish aspects of its global reorganisation, including on the disposal of the client’s lighting business and the spin-off and subsequent merger with Wabtec Corporation, of its transportation business.
Domanski Zakrzewski Palinka's team is well versed in a variety of transactions, including leveraged buy-outs, management take-overs, joint ventures, and reorganisation and restructuring projects. In addition, the firm has developed a strong practice in advising Polish businesses on international expansions. The group also stands out for takeovers in regulated sectors, having advised DWF Group on its takeover of the Polish operations of K&L Gates; a transaction handled by Bartosz Marcinkowski (who is 'very well-connected to the market') and department head Krzysztof Zakrzewski. Robert Niczyporuk is also key for M&A matters.
‘Good, well organised team work; excellent planning; flow driven approach.‘
‘We highly value the DZP team’s flexibility, availability and focus on the projects that we are dealing with.‘
‘Each time any new aspect needed to be analysed, they found the right person to talk to. There was also one partner who took care about our project and was competent enough to identify the specific need.‘
Raiffeisen Bank Polska
Idea Bank/Getin Noble Bank
Polish Development Fund
Tauron Polska Energia
PEWIK Gdynia and its shareholders
- Advised the Management Board of Raiffeisen Bank Polska on the demerger and transfer of its core business to BGŻ BNP Paribas.
- Assisted DWF Group with the acquisition of the legal services business of K&L Gates Jamka sp.k.
- Providing Getin Noble Bank and Idea Bank with strategic legal advice on a merger.
Eversheds Sutherland Wierzbowski focuses on mid-market transactions, as well as handling major complex group restructurings and corporate advisory work. Able to draw on a sizeable international network, the group advises clients across multiple jurisdictions across the CEE region. Transactional lawyers Ewa Szlachetka and Renata Patoka jointly lead the department. Of counsel Krzysztof Feluch is also noted.
Ewa Szlachetka; Renata Patoka
‘Experience in M&A transactions that spans across all phases of the deal, not only the legal side.‘
‘Ewa Szlachetka stands out as a person that is able to think not only on the legal level, but also from the business perspective and transaction structuring that is business-oriented.‘
Drukarnia Embe Press
Enterex International Limited
Netspirnt (Innova Capital)
- Advised ITP on the sell-side of its acquisition by Abris Capital Partners.
- Acted for the Polish government on the formation of a new corporate structure for the newly created Polish Aviation Group, as a holding company, with LOT Polish Airlines and three other companies as subsidiaries.
- Advised Medicare Galenica on its €43m merger with Galenica Nova.
GESSEL Attorneys at Law
GESSEL Attorneys at Law has deep expertise in M&A transactions, for private and publicly-held, Polish and international entities. the group is led by Marcin Macieszczak, who, in addition to transactional work, advises clients on restructurings and company law matters. Małgorzata Badowska and Maciej Kożuchowski, both of whom draw on substantial finance and private equity experience. Aldona Pietrzak is head of the due diligence group.
Marcin Macieszczak; Maciej Kożuchowski; Małgorzata Badowska
‘The team has a comprehensive and tailored approach to clients.‘
CVI Dom Maklerski
Inovo Venture Partners
Avia Prime a.s.
The R22 holding group
Wirtualna Polska Holding
BNP Paribas Bank Polska
Polska Grupa Biogazowa
- Advised PayPro, the operator of the Przelewy24 payment platform, on a strategic alliance with Nets Denmark.
- Advised Enterprise Investors on the sale of 100% of its shares in 3S to P4, a subsidiary of Play Communications
- Advised DialCom24 on its acquisition of Infinite from Emperia Holdings.
At Gide Loyrette Nouel, lawyers advise buyers and sellers at every stage of M&A transactions, including pre- and post-merger structuring advice. The group is able to provide a full service to clients, drawing on firm-wide expertise in private equity, finance, regulation and tax, Corporate consulting services offered include corporate transformations of capital groups, capital operations, joint venture projects and the establishment of companies. Dariusz Tokarczuk leads the department, ad regularly advises Polish and foreign investors with operations in Poland.
Protos Venture Capital
Nowy Styl Group
- Advised Enterprise Investors on the acquisition of a 38% stake in Unilink, a leading insurance multiagency In Poland.
- Acted for Benvic Europe SAS on the takeover of Alfa PVC.
- Advised Helsinki-listed YIT Development on the conclusion of an investment agreement and a shareholders’ agreement with Wrocław-based developer i2 Development, listed on the Warsaw Stock Exchange.
Maruta Wachta sp. j. is a stand-out digital sector-focused firm that advises IT, technology and e-commerce clients on a wide variety of commercial, corporate and M&A issues. The group is able to draw on a deep well of knowledge in the IT industry, with expertise in commercial contracts, corporate disputes, consumer protection and compliance. Daniel Jastrun heads the department, also running the firm's Nordic desk, which benefits from his ability to speak fluent Swedish.
‘It is a well reputed law firm with a very strong position in technology, including corporate advice to startups and M&A in technology sector.‘
‘Daniel Jastrun has a high level of interpersonal skill. He conducts difficult, sophisticated matters in a friendly manner, with a lot of intuition. Very broad legal knowledge, excellent language skills. Impressive availability and responsiveness.‘
‘We value Daniel Jastrun most for good negotiation skills, ability to look at the entire case, a good understanding of business context and the specifics of IT contracts.‘
Fundacja Pomyśl O Przyszłości
Law Firm GLIMSTEDT Bernotas & Partners
Restaurant Partner Polska
PHH Prochaska Havranek Rechtsanwälte & Co
Van Benthem & Keulen
VGD Audyt Polska
Wojdyła Business Park
- Advised Orange Polska on its PLN200m acquisition of BlueSoft, and its subsidiary Essembli, from Tokajami.
- Acted for Delivery Hero on its exit from Pizzaportal.pl and Poland.
- Providing day-to-day counsel to Tetra Pak Group in Poland, advising on commercial, corporate, competition and compliance matters.
Noerr advises corporates on market-entry into Poland, international expansions and exits, and compliance issues. The group has a strong client list of German and international corporates, private equity houses, as well as large domestic companies, particularly in the food and technology sectors. Jakub Lerner and Ludomir Biedecki jointly lead the department.
Ludomir Biedecki; Jakub Lerner
‘Noteworthy is the high culture of cooperation, reliability and timeliness.’
‘Experienced professionals, with in depth knowledge of local Polish market.‘
Mercedes-Benz Manufacturing Poland / Daimler
Merkur Sportwetten / Gauselman Group
PFR (Polish Development Fund)
ISS Facility Services
- Advising Work Service SA on the sale of shares in Exact Systems.
- Assisting Merkur Sportwetten, a Gauselmann subsidiary, with the acquisition of a controlling stake in Totolotek.
- Advising Schwarz Group on the takeover of the Tönsmeier group of companies.
Penteris' team handles the spectrum of commercial, corporate and M&A projects, including providing day-to-day assistance with Facebook's operations in Poland. The group is led by Wojciech Fabrycki, whose experience encompasses M&A, capital markets transactions and arbitration. Tomasz Rysiak is another key name, with expertise in tax-efficient structures, business reorganisation and transformation.
‘Artur Swirtun and Tomasz Rysiak are experienced, pragmatic lawyers who helped our US-based client through the byzantine issues in closing an acquisition in Poland.‘
‘Wide experience, flexibility, available whenever needed, work done on time – everything perfect‘
Jump Bikes / Uber
Chicago Poland Investment Group
Plukon Food Group
Abris Capital Partners
Apollo Rida Group
- Advised Chicago-Poland Investment Group (the seller) on the sale of a 100% stake in Poland-based brewery Browar Namysłów to Polish beer group Grupa Żywiec.
- Assisting Facebook with its Polish operations.
- Advised Plukon Food Group and its subsidiary Plukon Polen (Plukon) on the second completion of the investment in a Polish poultry sector company Plukon Sieradz, providing ongoing assistance in relation to the Polish operations of Plukon.
Wardynski & Partners
Wardynski & Partners has developed an active practice in cross-border M&A, often working alongside major international law firms on the Polish aspects of their clients' transactions. The group is jointly led by Paweł Ciećwierz, whose focus is commercial law and restructuring, and Izabela Zielińska-Barłożek, a key figure with 'good commercial acumen' for M&A deals involving assets, shares and businesses. Transactional lawyer Anna Dąbrowska is also recommended alongside Krzysztof Libiszewski, who also handles reorganisations and restructuring.
Paweł Ciećwierz; Izabela Zielińska-Barłożek
‘Very efficient service and clear communication, a pleasure to work with.’
‘We have to say that the team really stands out in quality, responsiveness, providing solutions for issues and efficiency. They are great to work with and on top of that pleasant people.‘
‘Its team is able to work very independently and nearly as a colleague of our team instead of an external advisor and take on the responsibility of negotiating some of the less material parts of the M&A contract package.’
ABP Food Group and ABP Poland
Asahi Kasei Corporation
Litorina Capital Advisors
VIA Equity Fond III
Vista Equity Partners
Westchester Group of Europe
- Assisted EQT with its sale of Autostore, the leading global provider of warehouse automation systems, to THL Partners
- Advised Bridgestone Europe on the Polish aspects of its €910m acquisition of Tomtom Telematics.
- Assisted Vonage with the Polish aspects of its $350m acquisition of NewVoiceMedia.
WKB Wiercinski, Kwiecinski, Baehr's group is instructed by a mixture of domestic and international clients on local deals and the Polish aspects of cross-border transactions. Private equity transactions are an area of particular expertise, as is M&A involving distressed assets. The group is also able to draw on the wider firm's expertise in competition, labour, tax, IP, insurance, real estate and public procurement, providing clients with a full commercial, corporate and M&A service. Andrzej Wierciński and Jakub Jedrzejak jointly lead the department.
Andrzej Wierciński; Jakub Jędrzejak
‘Professional, fast, flexible, customer oriented, problem solving/solution finding approach.’
‘I do very much appreciate a high quality of their work, responsiveness, complex law advice going beyond purely corporate law matters.‘
‘Anna Wojciechowska has excellent coordination skills, puts great attention on covering all aspects that may give rise to difficulties, meets tight deadlines, is reliable, understands and meets our high standards.‘
BC Bavarian Candles / Equistone
Centrum Rozliczeń Elektronicznych Polskie ePłatności
Bank PKO BP
Aflofarm Farmacja Polska
EQOS / Triton
Avallon MBO Fund
- Advised Polskie ePłatności, one of the domestic leaders in payment processing technology and solutions for business customers (and a portfolio entity of Innova Capital), on its acquisition of 100% of the shares in PayUp Polska S.A. from Eurocash.
- Advised Benson Elliot on the Polish aspects of the sale of the Sheraton Warsaw to Patron Perkins.
- Acted for ShopRunner on the Polish aspects of its acquisition of the enterprise of Spring NYC and of the enterprise of its Polish subsidiary, Spring Poland.
Bird & Bird Szepietowski i wspólnicy sp. k.'s team expanded significantly in 2019, making a number of hires at associate level, as well as taking on Paweł Bajno, who jointly heads the practice alongside Rafał Dziedzic, from Norton Rose Fulbright. The group has an exceptional reputation for instructions in the TMT sector, although it also acts for numerous clients in the energy, healthcare and fashion industries. The group has ample experience in M&A and joint venture transactions, for which it is able to draw on firm-wide IT, TMT and intellectual property expertise. Other areas where the firm stands out are private equity, venture capital and research and development projects.
Rafał Dziedzic; Paweł Bajno
‘The team was good, especially the partners, and well on par with other firms I have worked with.‘
‘Rafał Dziedzic is an outstanding lawyer when it comes to availability to the client and skills in M&A.‘
Eleven Sports Network
Lexmark International Technology
Columbia Sportswear International
Cadence Design Systems
Opus Capita Oy
Mutuelle Assurance des Commercants et Industrieles France et des Cadres et salaries de l’Industrie et du Commerce
Prime Staff Service
- Advised Private Venture Partners on its investment in Joyfood.
- Assisted Canadian Solar with its acquisition of a portfolio of photovoltaic projects.
- Acting as Polish local counsel to Widex, as well as to Kromann Law Firm, on the merger between Widex and Sivantos Group.
The team at Chajec, Don-Siemion & Zyto Legal Advisors handles cross-border and domestic M&A, alongside company reorganisations, demergers, joint venture projects and equity investments. It has developed a strong practice in the TMT and real estate sectors, as well as start-up investment activity. Corporate and commercial work is led by Jolanta Okoniecka; while co-founding partner Andrzej Chajec, Maciej Kotlicki and Szymon Skiendzielewski take the lead on M&A transactions.
Andrzej Chajec; Jolanta Okoniecka; Maciej Kotlicki; Szymon Skiendzielewski
Capital Partners Investment Fund
Oaktree Capital Management
CP Fundusz Inwestycyjny Zamknięty and Capital Partners Investment I Fundusz Inwestycyjny Zamknięty
- Advising the buyer (a company of the Oaktree Capital Management group) on the buyout of the majority stake in Sevenval Technologies GmbH.
- Advising the sellers on the sale of two packages of apartments in the Pacific Residence estate located in Powisle.
- Assisting TASC Infrastructure with the process of the acquisition of real estate properties in Poland developed with telecoms masts and telecoms infrastructure.
Crido Legal has an active M&A practice, handling management buyouts, acquisitions and acquisition finance for major deals on the Polish market. The team also specialises in reorganisations, including in relation to foreign holdings and closed-end investment funds. Key sectors for the group are construction, healthcare, food and services. The department is jointly led by Mateusz Rogoziński and Mateusz Baran.
Mateusz Rogoziński; Mateusz Baran
‘The firm provides highly professional legal services. I really appreciate their lawyers’ approach to the transaction process. They perfectly manage the project (starting from due diligence, through negotiations until completion), take care of all the details and what is crucial for us – deliver work on time, which allows us to meet the agreed transactions timeline. I strongly recommend them to everyone.‘
‘It is a is highly professional legal firm with vast experience in M&A advisory.‘
‘Mateusz Rogoziński has a deep legal and business understanding of M&A transactions. He provides assistance tailor-made to our needs and has a very individual approach to his clients‘.
Deloitte Legal, Pasternak, Korba, Moskwa, Jarmul i Wspólnicy Kancelaria Prawnicza sp.k.'s M&A team is highly integrated into the firm's CEE offering, allowing it to handle transactions in Poland and across the region. It is also able to work closely with the firm's finance and tax advisory departments, giving it the ability to provide a full transactional service to corporate clients. Paweł Moskwa, Robert Pasternak and Jan Jarmul jointly lead the team. Corporate and private equity transactional expert Łukasz Błażejczyk joined from Weil, Gotshal & Manges LLP in March 2019.
Robert Pasternak; Paweł Moskwa; Jan Jarmul
‘They provide complete service from advice, through process management, notary and translation arrangements ending with filing the documents with agencies where applicable.‘
‘Great and broad service provided on broad spectrum of legal matters.‘
Tar Heel Capital
Value 4 Capital
Wirtualna Polska Holding
- Advised MCI Capital on its PLN315m sale of Dotpay to Net.
- Acted for DreamCommerce on the sale of a minority share package to Value4Capital.
- Advised Generali Finance on the acquisition of a majority stake in Bezpieczny.pl.
Following the takeover of K&L Gates' Warsaw operations, the team at DWF Poland Jamka Sp.k, led by Michał Pawłowski, has remained relatively stable. The group specialises in capital markets-related M&A, although it also handles private transactions. The group is able to provide clients with a full service, advising on the finance, regulatory, compliance, and corporate governance aspects of a deal, as well as administrative and employment law issues. A firm-wide strength, the group is well placed to advise financial institutions, particularly insurance companies. Filip Urbaniak is a transactional lawyer to note, as is Rafał Woźniak.
‘A law firm with an excellent track record in high-value M&A and corporate transactions.‘
‘Offers high-quality corporate and transactional advice and a thriving international network.‘
‘It provides the clients with a team of dedicated and experienced professionals. They offer extensive support in each projects. The team is client-oriented and understands challenges specific for business activities of their clients.‘
The European Bank for Reconstruction and Development
Santander Bank Polska
Lubelski Węgiel “Bogdanka”
Jastrzębska Spółka Węglowa
SMT Stanlay Marine Technik
- Advised PKO Leasing on the takeover of Prime Car Management.
GSW Legal Grabarek, Szalc i Wspólnicy Sp.k. is predominantly focused on corporate, commercial and transactional issues, with experience in domestic and cross-border projects. The group has strong links in the CEE region, especially with clients based and operating in Belarus, Kazakhstan, Ukraine and Russia. The group is jointly led by managing partners Rafał Szalc and Tomasz Grabarek, who has expertise in banking and insurance sector issues.
Rafał Szalc; Tomasz Grabarek
‘This law firm is very quick in its decisions, it reacts to the needs of the client and perfectly cooperates with subcontractors. The team has great organizational skills, also is great in drafting the contracts.‘
‘Rafał Szalc is impressive for his knowledge and communication with the client; Kinga Stefańska-Królak has demonstrated her high skills in drafting the contracts, managing the clients’ needs and was irreplaceable in coordination of the whole project.‘
‘Tomasz Grabarek has a rare combination of legal refinement and deep corporate insight underpinned with an exceptional business drive.‘
Amtrust International Underwriter
Central European Engine Services
Digital Care Capital Group
Lot Aircraft Maintenance Services
Globe Travel Services Poland
- Advised Digital Care on the drafting and negotiation of a cooperation agreement with P4.
- Acted for LOT Aircraft Maintenance Services on negotiations for the amendment of an agreement with the State Treasury.
- Advised Bacca on the launch of its Tuba Pay application, which enables direct recording of a premium on the account of the insurer chosen by the insurance agent.
Kochanski & Partners' lawyers have considerable experience in M&A transactions as well as complex reorganisations. The group maintains an impressive list of domestic and international clients, including Diebold Nixdorf and LOT Polish Airlines. Corporate and M&A matters are jointly led by Rafał Rapala, whose expertise also spans international commercial transactions, restructuring and insolvency, real estate specialist Paweł Cholewiński and corporate transactional expert Paweł Mardas, who was promoted to partner in January 2019.
Rafał Rapala; Paweł Mardas; Paweł Cholewiński
‘The team has extreme detailed knowledge in the fields they work on. It always presents extraordinary solutions and concepts, away from standard procedures.‘
‘Rafał Rapala and his team are exceptional in follow up of the cases. They think beyond their own nose, always taking care of complex scenarios.‘
‘The firm has a great team consisting of specialists in their specific fields. It is perfect working with them, as they are able to provide excellent legal solutions for every legal question you might have; and due to the size of the team, within shortest reaction times.‘
State Street Global Advisory
One Peak Partners
Oxenwood Real Estate
LOT Polish Airlines
Pollen Street Capital
Ikea Purchasing Services
- Advising Johnson Matthe plc, a global leader in sustainable technologies, on two major greenfield investments.
- Acting for Beneteau Group on the acquisition of Delphia Yachts.
- Advising on the intragroup upstream merger of Quimicer Polska and its subsidiary Vetriceramici Polska, including an intragroup M&A transaction of sale of shares in Vetriceramici Polska to Ferro Performance Materials Poland as the new sole shareholder and subsequently, on the implementation of the upstream merger between both companies.
Krassowski focuses entirely on M&A transactions, advising private equity houses, domestic and international corporations, as well as entrepreneurs, on a variety of local and cross-border transactions. The firm has experience of the healthcare, fast-moving consumer goods and video gaming sectors. Founding partner Bartosz Krassowski jointly heads the team with contract and company law specialist Andrzej Chrzanowski.
Bartosz Krassowski; Andrzej Chrzanowski
‘The team is exceptionally well organised.‘
‘A small team of M&A professionals who know exactly what they are doing. Very strong business feeling.‘
‘Andrzej Chrzanowski is the lawyer we will want on our side for future M&A deals. Business-oriented, with exceptional legal knowledge and calmness that helped a lot in closing the negotiations.‘
Black Lion Fund
Polskie Górnictwo Naftowe i Gazownictwo
- Advised Maczfit and its founder on the sale of the company to Resource Partners.
- Acted for Innova Capital Partners and the minority shareholders of Neomedic on the sale of 100% of shares in Neomedic to ABC Medicover Holdings.
- Advised Verco on the acquisition of 20% shares in Ofta.
NGL Wiater sp.k.
NGL Wiater sp.k. has developed an impressive corporate and M&A practice since it was founded by former DLA Piper managing partner Krzysztof Wiater in 2018. The team has significant experience advising private sector and state-owned companies at all stages of M&A transactions, drawing on specialisms in the energy, insurance and defence sectors. The group also regularly handles M&A involving distressed assets. In September 2019, Tomasz Ciećwierz joined from Allen & Overy, A. Pedzich sp. k., bringing with him substantial transactional corporate experience.
‘The team always consists of a group of high-level experts in their field instead of just one know-everything lawyer. Moreover, I had a feeling that every advice or solution is double-checked with the most senior staff.‘
‘Dedicated and passionate individuals with broad experience in a subject covered. I value the most their ability to provide the clients with a bunch of solutions, while clearly explaining all the pros and cons for each of them.‘
‘I have had the pleasure of having working with Grzegorz Godlewski, Bartosz Sankiewicz and a couple of others. They all demonstrate out-of-the-box approach and focus on actual client needs, rather than follow professional routine.‘
PGE Polska Grupa Energetyczna
- Advising Alior Bank on the acquisition and disposal of shares of Ruch.
- Acting for Value Quest on the acquisition of Basel Olten Pharm.
- Advising Raytheon Company on offset matters connected with the acquisition of Phase I mid-range air and missile defence system (Patriot system).
Norton Rose Fulbright is able to leverage the firm's international office network to advice companies on domestic and cross-border M&A, as well as corporate compliance in Poland. The firm has experience across a number of sectors, including financial services, automotive, healthcare and pharmaceutical, food and agricultural, FMCG, infrastructure and transport. Piotr Strawa leads the team, and has expertise in M&A, privatisations, restructurings, joint ventures and private equity.
‘Very professional and skilled.‘
Abris Capital Partners
Egis Road Operation
XL Insurance Company
XL Catlin Services
- Advised Abris Capital Partners on its takeover of Cadm Automotive.
- Advised ING Bank on corporate compliance.
At PwC Legal Żelaźnicki sp.k., the team works closely with the firm's international office network to advise domestic and multinational clients on the Polish aspects of cross-border transactions and reorganisations. The department is jointly led by managing partner Cezary Żelaźnicki, Jacek Pawłowski, who has particular experience in M&A involving family-owned businesses, and corporate reorganisation specialist Beata Kiedrowicz.
Cezary Żelaźnicki; Jacek Pawłowski; Beata Kiedrowicz
‘Operational efficiency, ease of access and making contact.‘
‘Excellent work from Beata Kiedrowicz and Bartlomiej Wlodarski. Not only the quality of their legal advice, but the full availability at any time, any matter, different languages, different cultures and different business approach were dealt in a very close and professional manner.‘
‘We received full advice on any matter concerning our operation, even further than our expectations (global approach). That makes us believe that their knowledge of the domestic concerns may enrich the result of the work.‘
Reckitt Benckiser plc
Eli Lilly and Company
General Electric Group
William Demant Holding
SGL Carbon Polska
- Advised on the Polish aspects of a global reorganisation of Reckitt Benckiser plc, including the separation of its businesses.
- Acted for Eli Lilly and Company on the Polish aspects of its global carve-out of its animal health business.
- Advising the Polish entities of General Electric Group on corporate and commercial issues.
One client notes that the group at Radzikowski, Szubielska i Wspólnicy sp.k. 'stands out as focused on building long-term relations with clients'. Under the leadership of founding partner Włodzimierz Radzikowski, who is fluent in English and Russian, the team has developed a sophisticated corporate and M&A practice advising foreign and domestic companies on their activity in Poland. Sectors where the group stands out are energy and natural resources, manufacturing, real estate and pharmaceuticals. Gabriel Wujek is also recommended for issues including joint ventures, international and commercial contracts.
‘Very experienced in corporate law with an attitude of problem solving in a pragmatic way.’
‘The firm stands out as focused on building long-term relations with clients. The company’s strength is the stable team with long-term perspective aligned with that of their clients.’
‘We work on regular basis with Włodzimierz Radzikowski. I trust him not only in legal issues but also in business ones. Over those years we have worked out a good understanding and also friendship.’
Fabryka Samochodów Osobowych
Global City Holdings
Lagerdere Travel Retail
- Advised Poland’s largest pharmaceutical company ZF Polpharma on the process of the company’s division and spin-off of its biotech operations.
- Acted for a Swiss-based client on a cross-border asset deal (tangible assets and IP), along with the assumption of loan obligations and undertaking to finance R&D in progress.
- Assisting innogy Polska with M&A transactions in the energy sector, including recently handling the acquisition and/or development of a 150MW portfolio of photovoltaic and wind farm projects.
RKKW – Kwasnicki, Wrobel & Partners
Lawyers at RKKW – Kwasnicki, Wrobel & Partners demonstrate expertise in company and commercial law, with exceptional experience in M&A transactions and corporate matters including transformations, the establishment of capital groups and reorganisations. The group is led by co-founding partners Radosław Kwaśnicki and Krzysztof Wróbel alongside Jarosław Szewczyk.
Radosław Kwaśnicki; Krzysztof Wróbel; Jarosław Szewczyk
‘It is a big, diversed team with great individuals.‘
‘Jarosław Szewczyk has great knowledge of company law and capital markets.‘
‘A diversified team able to deal with full range of corporate law services.‘
Benefit Systems International
Fundacja Drzewo i Jutro
Abadon Real Estate
Tar Heel Capital
GAS Storage Poland
KGHM Polska Miedź
Polskie Koleje Państwowe
Polskie Górnictwo Naftowe i Gazownictwo
PGE Polska Grupa Energetyczna
ForeVest Capital Partners
Level Up Capital
Wrocławskie Zakłady Zielarskie Herbapol
- Advised Benefit Systems on the acquisition of several fitness clubs from Calypso Fitness.
- Acted for Murapol Capital Group on a structural reorganisation.
- Advised KGHM Polska Miedź on the creation of a holding structure.
Paweł Halwa leads the department at Schoenherr Stangl sp.k., focusing on structuring transactions, including cross-border M&A, securities offerings and restructuring. Halwa also has contentious experience, representing clients in negotiations and proceedings before court and administrative bodies. Krzysztof Pawlak is another key practitioner, with expertise in M&A, corporate contracts and restructurings.
Argina Technics, Brakel Group Holding
Speedinvest II EuVECA & Co
Caverion Emerging Markets Oy
- Advises Argina Technics on general corporate issues, which includes assistance with liquidation procedures and restructuring of its operations in Poland.
- Advised Finnish company Caverion Emerging Markets Oy on the disposal of its Polish subsidiary Caverion Polska to Strabag.
The team at SMM Legal is jointly led by Maciej Mataczyński in Warsaw and Poznań-based Tomasz Sójka. While the group regularly handles private sector corporate transactions, it also has significant experience of advising state-controlled companies on M&A. Other areas of expertise for the group include restructurings, private placements and corporate maintenance.
Maciej Mataczyński; Tomasz Sójka
‘What I like most about the team is its responsiveness and business approach, without lengthy theoretical deliberations with no practical use, unless this is what one needs.‘
‘They are open-minded, energetic people, looking for new legal challenges, willing to propose innovative approaches to processes and problems.‘
‘Maciej Mataczyński might be considered one of the best advisers during negotiations, due to his professional and personal experience, comprehensive understanding of clients’ needs and extremely wide legal and general knowledge, which he can convey in a simple manner.‘
PORT Polski Ośrodek Rozwoju Technologii
SSW Pragmatic Solutions
SSW Pragmatic Solutions stands out for its ability to provide tax advice, alongside its corporate and M&A practice. The team regularly handles corporate transactions, including M&A, buyouts, direct investments and joint venture projects, as well as advising on restructuring issues. Wojciech Szczepaniak heads the team, which includes transactional, company and commercial law expert Paweł Chyb.
‘The team has a good value for money approach.‘
‘Sebastian Ponikowski is always available, very proactive and has an insightful approach.‘
Kemos / Struga
Dirlango Tech FIZAN
Dirlango Trading & Investments
Credit Value Investments
- Advised Skanska on the legal and tax aspects of its sale of selected assets to EXBUD Konstrukcje.
- Assisted Unilink with an investment by Enterprise Investors into the company.
- Advised Therme Group on a joint venture project with Studio Draft and FuturePace that establishes shared ownership and operation of Franchise Freedom.
Wolf Theiss' corporate and M&A practice is particularly geared to advising international clients with their operations and investments in Poland. The group has solid expertise in M&A transactions, which account for a major part of the team's workload. Jacek Michalski is the department head, and in addition to his corporate work, has a specialism in the establishment of new banks, as well as acquisitions in the banking sector. Dariusz Harbaty is another corporate transactional expert.Jacek Michalski
Other key lawyers:
Dariusz Harbaty; Joanna Wajdzik
Hisense Group Co.
- Advising ALSO Holding AG on the acquisition of the enterprises of ABC Data and ABC Data Marketing
- Advising HISENSE, a China-based producer of home appliances, in relation to the successful public takeover offer for the acquisition of all shares of the Slovenia-based white-goods manufacturer Gorenje. The target company was listed on the Ljubljana and Warsaw Stock Exchanges and has overall revenues of EUR 1.2bn and over 11,000 employees.
- Advising Gorenje gospodinjski aparati, on its delisting from trading on the Warsaw Stock Exchange.
act BSWW predominantly advises Polish and foreign public companies, corporations and investment companies on all matters relating to their operations in Poland, with particular expertise in M&A. The group is jointly led by Jacek Bieniak, who has developed a strong Italian client base, commercial law expert Piotr Wojnar and Marek Wojnar, whose practice focuses on the real estate and construction industries. Marta Kosiedowska is another name to note for M&A transactions in the real estate sector.
Jacek Bieniak; Piotr Wojnar; Marek Wojnar
‘Reliability, activity quickness, versatility.‘
‘High quality service level.‘
Comp Nowoczesne Rozwiązania Sprzedażowe
Dom Aukcyjny Libra
Dom Maklerski Merkurius
Strabag PFS Austria GmbH
Supernova Polska Limited
- Advises Air France-KLM on its day-to-day operations in Poland.
- Acted on a cross-border merger for two public limited companies in Poland with a Luxembourg-based company.
- Advised on the acquisition of shares in development companies, using claims purchased from Polish and Italian banks, worth over PLN70m.
FKA Furtek Komosa Aleksandrowicz
Led by Tadeusz Komosa, the group at FKA Furtek Komosa Aleksandrowicz handles a variety of M&A transactions for Polish clients, as well as assisting with day-to-day commercial issues. The team also has experience in partnership law.
- Advising Balcke-Dürr Polska on various corporate matters and commercial agreements related to its activity in Poland (equipment and machinery for oil and gas plants).
- Assisting iSpot Poland with day-to-day corporate issues.
- Advising Ferratum Group on day-to-day corporate issues.
Jara Drapała & Partners
The corporate and M&A department at JDP Drapała & Partners, led by co-founding partner Zbigniew Jara, focuses on matters involving asset management, joint ventures, real estate acquisitions, financing and restructuring. Other names to note include Marcin Chomiuk and Maciej Chrzan; the duo have substantial transactional experience. The group also comprises tax experts, including head of the tax team, Magdalena Zasiewska.
‘JDP has a lot of experiences of real estate matters and knowledge of regulations in Poland. As we have a subsidiary in Poland, we have asked Polish legal matters, such as corporate law, civil procedures, and business transactions. We are satisfied with their clear answers and instructions every time.’
‘The practice describes itself as “boutique” but they offer wide range of legal services connected with huge experience in diverse areas. They deliver the highest results to the customer but never lose direct contact and personalized approach, what really counts in modern business environment.’
‘It is a great pleasure for me to work with such an experienced and professional lawyer as Zbigniew Jara.’
Intelligent Apps and myTaxi Poland
Eiffage Polska Budownictwo
- Acted for a client on the purchase of production facilities and real estate, also providing post-transaction advisory services.
- Assisted a client with a joint venture transaction concerning acquisition of land as part of a joint venture development of a residential and commercial complex in Warsaw.
Prof. Marek Wierzbowski and Partners Advocates and Legal Counsellors is noted for advising Polish clients on their day-to-day corporate and commercial operations, in addition to handling M&A transactions, corporate reorganisations and investment fund establishment. The group, which is led by founding partner Marek Wierzbowski, also has experience of cross-border matters. Senior associate Joanna Róg-Dyrda is also recommended for M&A work.
- Advised Takt on the process of being acquired by a venture capital fund which invests in technological solutions.
- Acting for Polska Meat on the process of squeeze-out and organisation and fulfilment of duties related to the general meeting of shareholders – including preparation of all necessary documents.
Taylor Wessing Poland is able to draw on an international office network to assist clients with a range of cross-border corporate and transactional issues, including entry into and divestment from the Polish market. The team is co-led by Andrzej Mikosz, who joined from K&L Gates after its acquisition by DWF Poland Jamka Sp.k, and corporate law expert Olav Nemling. Jakub Pitera is another name to note; he acts for a number of financial institutional clients.
Andrzej Mikosz; Olav Nemling
Polski Holding Nieruchomości
- Advised Apotex International on the sale of Polish assets to Aurobindo.
- Acted for Steadfast Capital on the acquisition of a German trailer manufacturer Kempf with two subsidiaries and a plant in Poland.