Firms To Watch: Private equity

Wolf Theiss‘ private equity offering has been significantly bolstered with the arrival of a large number of partners, counsel, and senior associates over the course of 2023, including practice heads Izabela Zielińska-Barłożek, Anna Dąbrowska and Krzysztof Libiszewski, who all joined from Wardynski & Partners.

Private equity in Poland

Baker McKenzie Krzyzowski i Wspólnicy Sp.k.

Baker McKenzie Krzyzowski i Wspólnicy Sp.k.‘s ‘experienced and knowledgeable‘ private equity group sits within the firm’s wider M&A practice, and bolstered by its global presence, the team frequently provides high-quality support on cross-border transactions. The practice is highly adept at advising private equity funds throughout their entire lifecycle, from tax structuring and establishment, investments in portfolio companies, and strategic advisory work, to the exit, closure, and settlement of funds. Of recent note, ESG-driven matters have been an increasing focus for the group. With a diverse client roster, including major private equity funds, vendors, targets, industry investors, listed companies, and financial investors, Filip Uziębło jointly leads the team alongside transactional expert Tomasz KrzyżowskiŁukasz Targoszyński is especially notable for his work in the consumer goods, manufacturing, and technology sectors. In team news, Magdalena Medyńska and Marcin Płonka were both promoted to counsel in July 2023.

Practice head(s):

Tomasz Krzyżowski; Filip Uziębło


Other key lawyers:

Weronika Achramowicz; Łukasz Targoszyński; Radzym Wójcik; Magdalena Medyńska; Marcin Płonka; Joanna Lis


Testimonials

‘The team is experienced and knowledgeable. More importantly, their confidence does not slide into arrogance, and they are willing to hear the client’s perspective.’

‘Tomasz Krzyżowski’s work was very good. He delivered on all fronts, including technical skills, negotiations and client relations. It was our first transaction with him, and I would be happy to engage his assistance again.’

‘Very experienced team with great business acumen. Pragmatic and highly sophisticated in their understanding of the client’s objectives and needs.’

Key clients

Enterprise Investors


MidEuropa Partners


SPIE


AGIC


Tencent


KKR


Lyvia Group


Kreos Capital


Bain Capital


SilverLaker


PineBridge


New Mountain Capital


Resource Partners


EQT


Abris Capital


CEE Equity Partners


Forevest Capital


Snowflake Inc.


Hunter Douglas


Rebel Wolves


Akomex


Groupa Wirtualna Polska


Work highlights


  • Advised CEE Equity Partners on the acquisition of fully-integrated waste management platform KOM-EKO from Value4Capital.
  • Advised Akomex on the buy-out of Accession Capital Partners following its three-year investment in Akomex Group.
  • Advised Grupa Wirtualna Polska on its acquisition of a minority stake in Audioteka.

Clifford Chance

Global and regional private equity funds are counted among the impressive client roster at Clifford Chance, and its offering encompasses advice across key sectors of interest, including consumer goods, retail, healthcare, infrastructure, financial services, and e-commerce. The department is ably supported by the firm’s notably strong banking and finance, capital markets, antitrust, and M&A teams. Managing partner Agnieszka Janicka, Marcin Bartnicki and Wojciech Polz are key corporate experts, and also of note is Paweł Puacz, who specialises in energy, environment, and infrastructure-related mandates.

Practice head(s):

Agnieszka Janicka; Marcin Bartnicki; Wojciech Polz


Other key lawyers:

Paweł Puacz; Tomasz Derda; Krzysztof Hajdamowicz; Nick Fletcher; Iwona Terlecka; Karol Kulhawik


Testimonials

‘Wojciech Polz is exceptional in his field, demonstrating a profound understanding of the law and its practical applications. His leadership within the firm is a testament to their unwavering commitment to legal excellence.’

‘Wojciech Polz has a remarkable ability to build strong and lasting client relationships. His personalised approach and dedication to understanding client needs ensures that our clients receive the best possible legal counsel.’

‘Karol Kulhawik consistently puts clients at the forefront, taking the time to understand their needs, concerns, and objectives. His exceptional ability to establish and maintain strong client relationships is commendable.’

Key clients

Cinven


Abris Capital Partners


Waterland Private Equity


Giza Polish Ventures


Work highlights


  • Advised EcoWipes on the sale of the company to an investor controlled by Cornerstone Investment Management and Kartesia.
  • Advised Waterland Private Equity on the acquisition of Codilime, a major Polish software developer, combined with the reinvestment of the former shareholders.
  • Advised Xebia, a Waterland Private Equity portfolio company providing IT consulting services which cover all aspects of digital transformations, on the acquisition of the business of GetInData.

Greenberg Traurig Nowakowska-Zimoch Wysokinski Sp. k

Greenberg Traurig Nowakowska-Zimoch Wysokinski Sp. k is well regarded for its expert handling of complex transactions for leading private equity houses which have a presence across the CEE region. Its offering is bolstered through the group's co-operation with the firm’s reputable tax, M&A, real estate, banking and finance, and capital markets departments. Senior partner and chair of the group Lejb Fogelman focuses primarily on international business transactions, and he is supported by Rafał Baranowski, who is active across a variety of industries.

Practice head(s):

Lejb Fogelman


Other key lawyers:

Stephen Horvath; Rafał Baranowski; Paweł Piotrowski; Michał Fereniec; Michał Bobrzyński


Testimonials

‘Highly experienced and knowledgeable, yet extremely pragmatic, team. Always focused on the client’s goals and expectations.’

‘Michał Bobrzyński is an outstanding individual, bringing high engagement, excellent work ethics and vast experience in structuring and negotiating private equity transactions.’

‘They have excellent understanding of private equity clients’ expectations and standards, and are always focused on the best outcome for the client.’

‘Very holistic approach.’

‘Rafał Baranowski has high professional standards.’

‘Great team with superb knowledge and problem-solving approach.’

‘Rafał Baranowski has impressive knowledge and strategic thinking.’

‘Experienced and strong team of professionals.’

Key clients

Abris Capital Partners


GLP


Blackstone


Inpost


Stock Spirits Group


CVC Capital Partners


PIB Group


Agora S.A.


Value4Capital


HANSAINVEST Real Assets GmbH


Vista Equity Partners


Olympus Partners


Gilde Healthcare


Work highlights


  • Advised Inpost S.A. on its acquisition of a 30% stake in Menzies Distribution Group from Endless LLP, a private equity fund.
  • Advising Stock Spirits group on the indirect acquisition of 100% of the shares in Polmos Bielsko-Biała S.A.
  • Advised PIB Group on the acquisition of Asist sp. z o.o.

Rymarz Zdort Maruta

Rymarz Zdort Maruta's offering was broadened in January 2023 with the merger of Rymarz Zdort and Maruta Wachta. Advising clients on their investments in, and exits from, public and private companies remains a core focus. The healthcare, retail, FMCG, real estate, and financial services industries, as well as the technology, media, and telecoms sectors, are strong areas for the department. Managing partners Paweł Zdort and Paweł Rymarz jointly lead the team, and they are ably supported by Jacek Zawadzki and Jakub Zagrajek, who specialise in M&A transactions, capital markets, and corporate law issues. At the senior associate level, Malgorzata Derus is noted.

Practice head(s):

Paweł Zdort; Paweł Rymarz


Other key lawyers:

Jacek Zawadzki; Jakub Zagrajek; Malgorzata Derus


Testimonials

‘The level of coordination between the respective work streams, in combination with significant partner involvement to act not only as a legal but as a tactical sparring partner for the client in optimising the sale process and the deal itself was notable and impressive.’

‘Paweł Zdort is clearly one of the most experienced M&A lawyers in the CEE. While he has a very solid overall team behind him, he gets personally involved in key moments where the client needs to take difficult decisions, and the vast experience then really shows.’

‘Jakub Zagrajek, one of the best partners in the M&A practice, is great to work with. Solution-oriented, clear-headed and highly responsive, he proved not only to be a highly skilled M&A lawyer, but also very pleasant to work with as part of a wider deal multidisciplinary team bringing different considerations to the table.’

‘Quality comparable to the best international law firms. Very experienced and knowledgeable team.’

‘Paweł Zdort is one of most experienced private equity and M&A lawyers in Poland, and Jacek Zawadzki is very pro-active and involved, independent and able to handle complex assignments.’

‘Unique balance and wide scope of knowledge and experience from the finance, law and technology perspectives. Pro-active approach.’

‘I highly value cooperation with Jakub Zagrajek. A pro-active approach and proven, high-quality education in the field of law and finance are a very strong advantage of Jakub and his entire team. This helps a lot in private equity projects.’

‘Paweł Zdort and Jacek Zawadzki are smart, creative, commercial-thinking lawyers experienced in private equity deals and they understand the relevant issues.’

Key clients

Innova Capital


DIF Capital Partners


CVC Capital Partners


Three Seas Initiative Investment Fund


Aberdeen Capital Management LLC


Active Ownership Capital


Unilink Group


Enterprise Investors


Inelo Group


PGE Polska Grupa Energetyczna


7R


Exact Systems sp. z o.o.


P4 Sp. z o.o.


Cerceda


Work highlights


  • Advised the shareholders of Grupa Inelo S.A., comprising Innova Capital, European Telematics Holding and a group of individual minority shareholders, on a transaction involving the sale of 100% of the share capital of Inelo to W.A.G. payment solutions.
  • Advised the Unilink Group and the Enterprise Investors fund on a transaction involving the acquisition of the Unilink Group by Acrisure, a US-based fintech and insurance broker.
  • Advised PGE Polska Grupa Energetyczna S.A. on its acquisition of 100% of the shares in PKP Energetyka S.A from US-based fund CVC Capital Partners.

CMS Cameron McKenna Nabarro Olswang Posniak i Bejm sp.k.

CMS Cameron McKenna Nabarro Olswang Posniak i Bejm sp.k. supports international private equity houses and regional CEE funds throughout the entire lifecycle of investment mandates, from integration of businesses and restructurings, to the implementation of growth strategies. Key sectors of focus include TMT, retail, insurance, manufacturing, life sciences, and renewable energy. The ‘very commercial’ Sławomir Czerwiński sits at the helm of the practice and is ably supported by the head of the firm’s corporate and M&A department, Rafał Zwierz. Counsel Olga Czyżycka-Szczygieł adeptly advises clients on cross-border transactions.

Practice head(s):

Rafał Zwierzl; Sławomir Czerwiński


Other key lawyers:

Błażej Zagórski; Dariusz Greszta; Mateusz Stępień; Jarosław Gajda; Grzegorz Pączek; Marta Osowska-Buba; Olga Czyżycka-Szczygieł; Antoni Wandzilak


Testimonials

‘The team is characterised by being highly accessible at all times. All team members respond immediately and remain proactive during projects.’

‘They cooperate well with one another at all levels and everyone is always up to speed, which makes it easy to maintain deal momentum, even if not all team members are present during a meeting.’

‘The individuals that I worked with include Sławomir Czerwiński, Jarosław Gajda and Antoni Wandzilak. The key differentiator is business acumen. They understand what is critical and what is less important from a commercial perspective. This allows them to quickly and effectively conduct negotiations and add true value.’

‘I had a great working experience with the CMS team. They are very prompt, clear with their responses, have a transactional mindset, and are great lawyers.’

‘We enjoyed working with Mateusz Stępień and his team. He is a great lawyer with clarity on thought processes and he provides clear advice on the way forward.’

‘Professionals and experts in their field.’

‘Sławomir Czerwiński stood out as very commercial. Great with clients.’

Key clients

Advent International


MidEuropa


CirCap


Cinven’s Partner in Pet Food


Abris Capital Partners


Innova Capital’s Prime Label Group


Syntaxis Capital


PFR Ventures


DPE Deutsche Private Equity Management III GmbH


SINO-CEEF


Vertex Investment


Mutares SE & Co KGaA


Work highlights


  • Advised MangoPay on the Polish aspects of the acquisition of z majority stake in the AI fraud detection and prevention company Nethone sp. z o.o.
  • Advised Prime Label Group, the Polish flexible packaging firm controlled by Innova Capital, on the acquisition of a 100% stake in domestic printing company Drukarnia PEGWAN Sp. z o.o.
  • Advised R-GOL, a major distributor of specialised equipment for football enthusiasts, professionals, and football clubs in Central and Eastern Europe, and its owners, on the sale of a majority stake to Innova Capital.

Dentons

With an impressive client roster encompassing global, regional, and local private equity houses and venture capital funds, Dentons‘ industry knowledge spans a wide range of sectors, including energy, infrastructure, media and technology, life sciences, real estate, and food. The group is well positioned to advise on cross-border transactions, with five offices situated across the CEE region. Piotr Dulewicz chairs the department, as well as the firm’s broader European private equity offering, and has significant experience assisting clients with acquisitions and disposals. Michał Wasiak is another notable team member, with a particular focus on advising clients on investments into Poland.

Practice head(s):

Piotr Dulewicz


Other key lawyers:

Paweł Grabowski; Michał Wasiak; Bartosz Juszczak


Key clients

Syntaxis Capital


Bridgepoint


KKR


Cornerstone Investment Management


Resource Partners


Custodia Capital


Carpathian Partners


Optimum Ventures


International Chemical Investors


Work highlights


  • Advised Bridgepoint on the sale of its portfolio company Dr Gerard to Adam Foods.
  • Advised KKR on the Polish aspects of its acquisition of S&P Global’s Engineering Solutions business.
  • Advised International Chemical Investors Group on the Polish aspects of its acquisition of the compounds business of Benvic Group SAS.

DLA Piper Giziński Kycia sp.k.

DLA Piper Giziński Kycia sp.k.‘s private equity team is praised for its ‘great market knowledge’ and is well known for assisting domestic and international private equity funds with cross-border mandates. Industries of strength for the practice include technology and telecoms, media, real estate, and engineering. Jakub Marcinkowski sits at the helm of the department and is ably supported by the head of the corporate and M&A team Marta Frąckowiak, and Jakub Domalik-Plakwicz, whose client roster encompasses public and private companies, private equity funds, and underwriters.

Practice head(s):

Jakub Marcinkowski


Other key lawyers:

Marta Frąckowiak; Jakub Domalik-Plakwicz; Wojciech Kalinowski; Rafał Kluziak


Testimonials

‘Goal oriented with a business approach and experienced lawyers.’

‘Detailed, hands-on approach.’

‘Good communication.’

‘Engagement and professional approach. Hands-on team.’

‘I’ve been working with DLA Warsaw’s PE team for several years now, and I choose them for bigger deals. They have great market knowledge and despite my own years of experience, I have learnt from them quite a bit, in particular in the scope of current market practices and novelties.’

‘I appreciate their great service. I believe DLA’s PE team in Warsaw is one of the top in the business.’

‘I know there are a few prominent youngsters in their team, which gives us extra composure in negotiations, but in general I always rely on Rafał Kluziak – I’d recommend him to anyone making PE deals in Poland, hands down.’

‘Rafał Kluziak can always deliver, no matter how hard our expectations are.’

Key clients

Mid Europa Partners


Polish Enterprise Fund VIII


MCI.PrivateVentures


Resource Partners


Żabka Polska


Life Healthcare Group


Foreign Expansion Fund Closed-End Investment Fund of Non-Public Assets


Allegro.pl


PFR Ventures


Hubert Burda Media


Opoka TFI


PGS Software S.A.


Cloudflight


Avallon MBO Fund II


Genesis Private Equity Fund III


Work highlights


  • Advised the Wirtualna Polska Group on the conclusion of a conditional agreement with, among others, funds managed by PortfoLion Capital Partners, to acquire the Szallas Group, which owns travel platforms for booking accommodation in Hungary, the Czech Republic, Romania, Poland and Croatia.
  • Advised two investment funds, Avallon MBO Fund II and Genesis Private Equity Fund III, on the sale of a majority stake in Stangl Technik Holding to SPIE Central Europe.
  • Advised Nethone on the process of acquiring Advent International as a new majority investor and joining the MANGOPAY.com Group.

DWF Poland Jamka Sp.k

DWF Poland Jamka Sp.k provides its clients with an all-encompassing private equity offering, covering the entire lifecycle of transactions, from fund formation and venture capital financing, to exit. Its client roster spans across Europe, Asia, the Middle East and the US. Managing partner and experienced transactional lawyer Michał Pawłowski is a core member of the group, as are Filip Urbaniak, who has a particular focus on work in the energy sector, and Rafał Wozniak, who possesses expertise in both public and private mandates.

Practice head(s):

Michał Pawłowski; Filip Urbaniak; Rafał Woźniak


Other key lawyers:

Anna Wietrzyńska-Ciołkowska


Key clients

Teufelberger GmbH


Meyra Group sp. z o.o.


Dobra Energia dla Olsztyna


Meridiam


PAD RES


Augusta Energy sp. z o.o.


TEMARED sp. z o.o.


ONDE S.A.


Nebo Solar sp. z o.o.


Work highlights


  • Advised Nebo Solar sp. z o.o. on the sale of a portfolio of renewable energy projects with a capacity of 100MW.
  • Advised ONDE S.A. on the acquisition of two special purpose companies operating a portfolio of solar photovoltaic projects with total indicated capacity of 23MW, located in Lower Silesia.
  • Advised the sole shareholder of Unitrailer Holding on the sale of the company to Vaalon Capital.

SSW

SSW counts major domestic and foreign private equity houses and venture capital funds in its impressive client base. ‘Business-driven M&A lawyer’ Mateusz Rogoziński helms the team. Senior associate Łukasz Targoński is skilled in the healthcare, renewable energy, telecoms, IT, and video game industries, and Aleksander Nicałek is another key and active associate.

Practice head(s):

Mateusz Rogoziński


Other key lawyers:

Łukasz Targoński; Aleksander Nicałek; Edyta Mastalerek


Testimonials

‘I see SSW as a full-scope law firm having specialists from all the areas of law. As a result, they are able to provide all the transactional services under one roof. Since Mateusz Rogoziński joined SSW, they strengthened significantly their legal M&A and PE capabilities.’

‘Mateusz Rogoziński is recognised as a transactional lawyer who is very active in private equity deals. He is appreciated on the market and works with a number of PE houses. He is perceived as very reasonable and business-oriented.’

‘Our perception is that SSW’s team is well-organised, reacting quickly and having extensive experience, including regulatory aspects, especially in the healthcare sector. They have quite a substantial legal team, so are able to handle a couple of M&A deals at the same time and with the same level of commitment and quality, and such capability is a must-have from our perspective.’

Key clients

Innova Capital


Pollen Street Capital


Cornerstone


Oaktree


Spire Capital


Bencis Capital


Avallon PE


Avia Capital


MCI Capital


Enterprise Investors


Credit Value Investments


Aria Fund


Work highlights


  • Advised Pollen Street Capital on the consolidation of the insurance intermediation market, including on the acquisition of Arrant.
  • Advised a client on the consolidation of the veterinary market in Poland.
  • Advised Innova Capital on the consolidation of the healthcare market, including on the acquisition of Klinika Platinum.

White & Case M. Studniarek i Wspólnicy - Kancelaria Prawna sp.k.

White & Case M. Studniarek i Wspólnicy - Kancelaria Prawna sp.k.‘s private equity offering falls within the firm’s corporate, M&A, and capital markets department, headed by office executive partner Marcin Studniarek. The team has demonstrable experience advising on small, mid-sized, and large transactions for clients situated across Poland and Europe, with both domestic and cross-border expertise. Spanning fund formation, acquisitions, portfolio management, and exit strategies, the practice’s offering is broad ranging. Marek Sawicki is another notable name, with substantial knowledge surrounding both the public and private sectors.

Practice head(s):

Marcin Studniarek


Other key lawyers:

Marek Sawicki; Rafał Kamiński; Maciej Zalewski; Aneta Hajska


Key clients

STS Holding


Towarzystwo Finansowe Silesia


MidEuropa


Play Group


Impel


ORLEN VC


Catella


Work highlights


  • Advised STS Holding, a major sports-betting operator in Poland listed on the WSE, and its majority shareholders on the sale of all their shares in the company to Entain Holdings CEE.

B2R Law Jankowski Stroinski Zieba

B2R Law Jankowski Stroinski Zieba is highly regarded for its expertise in venture capital mandates, and it frequently advises clients on technology-based transactions in Poland and across the wider CEE region. The group is highly adept at assisting major local and international private equity funds with their investments and divestments, in addition to advising on fund formations. Rafał Stroiński chairs the team with a broad client roster encompassing major Polish, CEE-based, and international private equity houses, investment funds, entrepreneurs, management and financial advisors, and institutional investors. Aleksandra Polak left for LSW Bieńkowski, Laskowski, Leśnodorski, Melzacki and Partners sp.k. in June 2023.

Practice head(s):

Rafał Stroiński


Other key lawyers:

Agnieszka Hajos-Iwańska; George Havaris


Key clients

PKO VC


Barings BDC Inc.


Fidiasz EVC


KnowledgeHub


Apis Venture sp. z o.o.


Life Science Innovation Fund


Learn Capital


Next Road Ventures


RKK VC


Pinova Capital


PGNiG Ventures


Paine Schwartz Partners


Stability Capital


Abris Capital


TPG Capital


Resource Partners


Francisco Partners


PFR TFI


Partners Group


Goldman Sachs


Kennet Partners


Tar Heel Capital


Work highlights


  • Advised HiTech ASI fund, managed by Vinci S.A., on an investment into OASIS Diagnostics S.A.
  • Advised Graham Partners, a private investment firm targeting technology-driven advanced manufacturing companies, on its acquisition of Taoglas Group Holdings Ltd.
  • Advised Polish unicorn DocPlanner on its acquisition of MyDr, which is its first acquisition on the Polish market.

Deloitte Legal, Ostrowski, Gizicki i Wspólnicy sp.k.

Deloitte Legal, Ostrowski, Gizicki i Wspólnicy sp.k. boasts a multi-disciplinary approach to its private equity work, with the department able to utilise the firm’s strong tax, and banking and finance capabilities to provide clients with an all-encompassing offering; this includes sales, acquisitions, restructurings, and spin-offs, and the group frequently acts on both the buy and sell-side of private equity-backed deals. Tomasz Ciećwierz leads the team with a varied client roster consisting of strategic investors, financial sponsors, high-net-worth individuals, and managers of acquired companies. Ryszard Manteuffel and Jacek Korzeniewski are also names to note.

Practice head(s):

Tomasz Ciećwierz


Other key lawyers:

Ryszard Manteuffel; Jacek Korzeniewski


Testimonials

‘The private equity team is, in my opinion, one of the best on the market, and definitely the best I have worked with.’

‘They are flexible, business oriented and great lawyers.’

‘Ryszard Manteuffel’s involvement in any transaction greatly increases the possibility that the deal will happen, which is vastly thanks to his business sense, human approach, creativity and great feeling of balance between legal safety and accepted business risk.’

Key clients

A&R Investments Limited


Benhauer sp. z o.o.


Rio Amsterdam


Polmos Bielsko-Biala S.A.


European Imaging Group Limited


McWin Partners


European Imaging Group Limited


Work highlights


  • Advised McWin Partners, a private investment fund, on the acquisition of a company which operates 20 Burger King restaurants in Poland.
  • Advised RIO Asi on a 51% investment in Party Deco sp. z o.o., a Polish producer of party and event materials and accessories.

GESSEL Attorneys at Law

Private equity is a core part of GESSEL Attorneys at Law‘s offering, and it advises private equity and venture capital funds on a whole range of mandates, including buyouts and growth capital transactions, as well as exit strategies. Clients from the energy and TMT sectors often instruct the group. As managing partner and head of the firm’s M&A and private equity practices, Marcin Macieszczak specialises in capital transactions in the public and private arenas. Maciej KożuchowskiMichał Bochowicz, and Karol Sokół are also key names.

Practice head(s):

Marcin Macieszczak


Other key lawyers:

Maciej Kożuchowski; Michał Bochowicz; Karol Sokół


Key clients

Enterprise Investors


Inplus sp. z o.o.


Sunroof


Avallon MBO


Work highlights


  • Advised Enterprise Investors on the process of investment in BISAR SA.
  • Advised Inplus sp. z o.o. on the purchase, from the previous shareholders, of a 100% stake in Smart Factor sp. z o.o.
  • Advised the Avallon MBO fund on the process of preparing, negotiating, and signing transaction documentation for the acquisition of a majority stake in SAT sp. z o.o.

Gide Loyrette Nouel

Paweł Grześkowiak sits at the helm of the private equity and venture capital practice at Gide Loyrette Nouel, with substantial expertise in banking and finance, secured and structured financing, and M&A mandates. The department is highly adept at supporting clients across a plethora of mandates in the private equity arena, from leveraged buyouts and venture capital transactions, to real estate fund acquisitions and exits from investments.

Practice head(s):

Paweł Grześkowiak


Other key lawyers:

Edyta Zalewska; Marta Karmińska


Testimonials

‘Knows and understand expectations of international clients, good communication, pragmatic, and gets the deal done.’

‘Paweł Grześkowiak is a standout practitioner.’

Key clients

PKO VC FIZAN


Goodspeed sp. z o.o.


Value4Capital


Genesis Capital


Work highlights


  • Advised PKO VC on the sale of its shares in Applica.AI to Snowflake, a cloud data platform.
  • Advised Goodspeed on the process of securing an investor, Polish Enterprise Fund VIII, which is a private equity fund managed by Enterprise Investors.
  • Advised Polish private equity fund V4C and Czech private equity fund Genesis on their concerted acquisition of the XBS Group, a supply chain management and logistics enterprise.

Kochanski & Partners

Kochanski & Partners is adept at advising private equity sponsors and their portfolio companies and investment funds on all stages of the investment process, from fund formation, early-stage venture capital investments, and financings and refinancings, to going-private transactions, leveraged buyouts, and recapitalisations. Its offering also extends to corporate restructurings and exits, including IPOs. Marek Król sits at the helm of the practice after joining the firm in May 2023 from KPMG Law. Pawel Cholewinski, Rafał Rapala and Paweł Mardas are also senior contacts within the group. Szymon Balcerzak departed for Andersen in Poland in June 2023.

Practice head(s):

Marek Król


Other key lawyers:

Pawel Cholewinski; Rafał Rapala; Paweł Mardas; Malwina Jagiełło; Weronika Duda; Aneta Serowik


Key clients

Newcold BV


The Seelig Group


Pacific Media Group


IZFIA


State Street Corporation


State Street Bank


Oxenwood Real Estate (UK)


Beneteau Group


Remigo


Pagra


Inovo Venture Partners


Alantra


Work highlights


  • Advising Newcold BV, a US private equity fund, and its operational business on its investment development in the field of frozen foods logistics, including assisting with the establishment of several holding and operational companies in Poland, purchase of relevant property for greenfield investments in a special economic zone, investments into existing warehouses, acquisition of operational local entities, and financing of investments.
  • Advising Pacific Media Group on the purchase of a majority stake in Polish first-league football club GKS Tychy.
  • Advised the Chamber of Fund and Asset Managers on establishing a dedicated cloud computing implementation industry standard for the investment funds sector.

Konieczny, Wierzbicki Kancelaria Radców Prawnych sp.p.

Konieczny, Wierzbicki Kancelaria Radców Prawnych sp.p. has a diverse client roster, spanning both well-established companies and start-ups from the fintech, medtech, banking, and IT and software industries, as well as investment funds. The private equity group frequently assists with acquisitions and divestments, both domestically and internationally. Praised for her ‘in-depth legal knowledge’, Paulina Opiełka chairs the practice and specialises in entry and exit transactions; she is also active in advising entrepreneurs on commercialisation matters. Managing partners Marcin Wierzbicki and Michał Konieczny are also key names to note, with respective expertise in corporate and real estate law.

Practice head(s):

Paulina Opiełka


Other key lawyers:

Marcin Wierzbicki; Michał Konieczny; Mateusz Sordyl


Testimonials

‘I would highly recommend the services of KWKR law firm. The professionalism of the lawyers, as well as their extensive knowledge and experience of MBO and asset deals, ensured that the entire transaction at every stage went according to plan, which allowed both parties to smoothly complete the planned activities.’

‘Paulina Opiełka combines in-depth legal knowledge with excellent understanding of business aspects. She is very responsible, accurate and has good contact with clients.’

‘Michał Konieczny’s greatest virtue is the meticulousness with which he approaches the legal work he performs. His thoroughness has ensured that every action performed as part of the transaction proceeded according to the schedule presented to me. Without a doubt, his extensive and comprehensive legal knowledge in the field of MBO and asset deals deserves mention here.’

Key clients

Maximus Capital


Honey Payment


NCBR Investment Fund ASI S.A


Software Mindsp. z o.o.


Epeer sp. z o. o.


Questpass sp. z o.o


Carscanner


KNACKS sp. z o.o.


Adianano sp. z o.o.


Digital Ocean Ventures


WP2 Investment


Ailleron S.A.


Work highlights


  • Advised Software Mind sp. z o.o. on the purchase of seven companies in five different countries (Argentina, the US, Romania, Poland, and Moldova).
  • Advised fintech start-up Epeer on its international takeover by the Canadian company Kings Entertainment Group Inc.
  • Advised Maximus S.A. and Honey Payment on the merger of the two companies, which allowed Honey Payment to enter into public trading in a form of reverse takeover.

Linklaters

Linklaters often undertakes private equity mandates which have a cross-jurisdictional element, including leveraged buyouts and acquisition financings, as well as advising on exit strategies. The team also supports private equity investors who are entering the Polish market. The practice is jointly led by Daniel Cousens and Marcin Schulz.

Practice head(s):

Daniel Cousens; Marcin Schulz


Key clients

Astatine Investment Partners


Bain Capital Partners


Cornerstone Investment Managers


Griffin Capital Partners


IFM


InfraVia Capital Partners


MidEuropa Partners


Mirova


Oaktree Capital Management


Polski Fundusz Rozwoju S.A.


Work highlights


  • Advised InfraVia Capital Partners on the acquisition of 50% of Iliad Group’s interest in Polski Światłowód Otwarty sp. z o.o.
  • Advised Astatine Investment Partners on the Polish aspects of the sale of Emitel, a Polish transmission company, to Cordiant Digital Infrastructure, an investment fund focused on digital infrastructure listed on the London Stock Exchange.
  • Advised Cornerstone Investment Management, a private equity investment management firm, on its acquisition of Ecowipes, a major European manufacturer of biodegradable wet wipes, in cooperation with Kartesia, a European specialist financing provider.

Norton Rose Fulbright

Norton Rose Fulbright‘s team handles the entire spectrum of private equity mandates, and it is especially active in Polish buy-out, restructuring, and exit transactions involving local or international funds. Key sectors of strength for the group include financial services, real estate, food and agriculture, transport and logistics, and energy and infrastructure, as well as healthcare and e-commerce. Team head, and corporate and M&A specialist Agnieszka Braciszewska, is lauded as ‘an exceptional lawyer’.

Practice head(s):

Agnieszka Braciszewska


Other key lawyers:

Aneta Janecka; Maciej Dubiel; Jan Nowjalis


Testimonials

‘Focus on saving time for the client, great prioritisation of the important things.’

‘Agnieszka Braciszewska is an exceptional lawyer with broad experience of how to sort out complex negotiations to make things happen.’

Key clients

Abris Capital Partners


ACP


Aegon Growth Capital


Allianz Capital Partners GmbH, London Branch


Aquila Capital Management GmbH


Aquiline Capital Partners


Niam AB


SUSI Partners


Work highlights


  • Advising ACP on the sale of a minority equity stake in Akomex and the repayment of a mezzanine facility.
  • Advised SUSI Partners on a renewable energy joint venture in Poland with a local partner for the acquisition of greenfield photovoltaic and wind projects, development of a retail trading arm with CPPA off-take capabilities, and an electricity-balancing power offering.
  • Advised Aquiline Capital Partners on an investment into a Polish software company.

Schoenherr Halwa sp.k.

Schoenherr Halwa sp.k. frequently advises its diverse client base on domestic and cross-border private equity mandates. Paweł Halwa sits at the helm of the corporate and M&A department, within which the private equity group sits, and he advises private equity houses and portfolio companies on their transactional mandates. Krzysztof Pawlak is another notable member of the department. In team news, Paweł Chyb joined from SSW in January 2024.

Practice head(s):

Paweł Halwa


Other key lawyers:

Krzysztof Pawlak; Paweł Chyb


Key clients

EAG SE


Vaalon Capital


Avallon


Blackstone


Work highlights


  • Advised a client on the acquisition of a Polish software development company, including assisting with external financing.
  • Advised Vaalon Capital on the indirect acquisition of shares in five companies which produce trailers for cars.
  • Advised Blackstone on the proposed buyout of Atlantia for €58bn.

WKB Lawyers

Jakub Jędrzejak and Ben Davey co-head the private equity practice at WKB Lawyers, which sits within the firm’s corporate and M&A practice. The group is typically instructed by local and international institutional investors, private equity funds, and alternative asset funds. Industries in which the group is especially active include food, fintech and manufacturing. Corporate lawyer Andrzej Wierciński is another notable name in this space.

Practice head(s):

Jakub Jędrzejak; Ben Davey


Other key lawyers:

Dominik Kulpa; Andrzej Wierciński; Grzegorz Godlewski; Agnieszka Wiercińska-Krużewska; Małgorzata Studniarek


Key clients

Avallon


MB Aerospace


Centrum Rozliczeń Polskie ePłatności S.A.


CVI


Neo Energy


KGAL ESPF 5 Holding SARL


Lisner Holding


Alpinvest


DPE Deutsche Private Equity Holding


Work highlights


  • Advising Lisner Holding, a member of the German Müller group, on its proposed acquisition of Graal S.A., a major Polish fish processing and canning company, and a number of its subsidiaries.
  • Advising Accel-KKR on the acquisition of a majority of shares in Symfonia sp. z o.o. and its subsidiary.
  • Advised MB Aerospace on the Polish aspects of the sale of the operational group to Barnes Group for an enterprise value of approximately $740m.