Private equity in Poland

Clifford Chance

According to clients, Clifford Chance is 'a top quality firm which benefits from having Polish specific expertise as well as global coverage, so there are always experts to draw on'. Private equity is a core area of the firm's offering in Poland and lawyers advise funds across numerous sectors, drawing on the firm's strength in financing, antitrust (where counsel Iwona Terlecka plays an important role) and capital markets to provide a comprehensive service. Taking the lead are well-respected managing partner Agnieszka Janicka and established transactional experts Wojciech Polz and Marcin Bartnicki. Counsel Krzysztof Hajdamowicz and of counsel Nick Fletcher are also recommended.

Practice head(s):

Agnieszka Janicka; Marcin Bartnicki; Wojciech Polz

Other key lawyers:

Tomasz Derda; Krzysztof Hajdamowicz; Nick Fletcher; Iwona Terlecka

Testimonials

‘Top quality firm which benefits from having Polish specific expertise as well as global coverage, so there are always experts to draw on. We work with the firm across many geographies and as a result benefit from consistent advice’

‘Wojciech Polz – very hard working and always trying to find a commercial solution.’

‘Agnieszka Janicka – super well connected in the market.’

‘Krzysztof Hajdamowicz – extremely knowledgeable.’

‘I had experience recently working with CC team on cross border M&A transaction. Team’s key strengths are their network (very useful in this cross border deal) as well as full scope of services not only limited to M&A that enables one shop service. Additionally to the above the team was very proactive, business minded and always available.’

‘Wojciech Polz is in my opinion not only one of the best M&A lawyers in Poland but also a very business minded and oriented lawyer. He is always available and provides his help and experience in order to get transactions moving in a professional and swift manner.

‘Responsive and proactive team. Worked well as a cross-border team with the London office.’

‘Wojciech Polz: felt like more of a genuine partnership through the process which went above and beyond the usual client-lawyer relationship.’

Key clients

Cinven

Permira

Three Seas Initiative Investment Fund

Macquarie

IFM Investors

Warburg Pincus

Softbank

Giza Polish Ventures

Cornerstone Partners

Partners Group

EQT Partners

Work highlights

  • Advised Allegro, a Permira and Cinven backed company, on its listing on the Warsaw Stock Exchange.
  • Advised a syndicate of banks, including Citigroup, Goldman Sachs, J.P. Morgan, ABN Amro, Barclays, BNP Paribas, Jefferies, DMBH, ING and Pekao, on the offering and listing on Euronext Amsterdam of shares of InPost.
  • Advised SVF II Motion Subco, an affiliate of SoftBank Investment Advisers, on the planned acquisition of PLN 500 million unsecured convertible bonds of eobuwie.pl S.A.

GREENBERG TRAURIG Nowakowska-Zimoch Wysokiński sp.k.

GREENBERG TRAURIG Nowakowska-Zimoch Wysokiński sp.k. is known for prestige private equity transactions; in 2021 it advised Cinven, Permira and Mid Europa Partners on their exit from Allegro, leading to one of the year’s most notable IPOs. In addition to private equity, the firm has built an impressive venture capital offering, led by Aleksander Janiszewski, handling equity rounds and convertible debt matters. Lejb Fogelman heads the group. Stephen Horvath  is another transactional veteran with cross-border investment and exit experience. Jarosław Grzesiak left the firm.

Practice head(s):

Lejb Fogelman

Other key lawyers:

Stephen Horvath; Rafał Baranowski; Aleksander Janiszewski; Paweł Piotrowski; Paulina Kimla-Kaczorowska

Testimonials

‘This is a truly global team that works as one. We have recently had a few cases that required work with multiple countries and we always had a feeling like we’d be working with one team in one office. Moreover, there is the same top quality of people regardless of the location.’

‘Aleksander Janiszewski is an absolute star performer – knowledgeable, friendly, committed – real pleasure to work with!’

Key clients

CVC Capital Partners

Innova Capital

Abris Capital Partners

Oanda Global

Partners Group

GLP

Blackstone

Mid Europa Partners

Penta Investments

Agora

Work highlights

  • Acted as legal counsel to the investment banks in the initial public offering of shares in Allegro.eu (“Allegro”) and the admission of Allegro shares to listing on the Warsaw Stock Exchange.
  • Advised Innova Capital on the acquisition of a majority stake in Bielenda Kosmetyki Naturalne from its current owners (Bielenda Family).
  • Advised OANDA Global Corporation, a CVC Capital Partners portfolio company, on the acquisition of Dom Maklerski TMS Brokers S.A.

Rymarz Zdort

Clients feel that Rymarz Zdort's private equity lawyers are 'extremely dedicated, always responsive and ready to help', and they provide a one-stop-shop service for Polish and international private equity transactions, including investments into both public and private companies. The group benefits from the firm's other strong departments, and is able to draw on reliable financing, antitrust and tax expertise. Co-managing partners Pawel Rymarz and Pawel Zdort jointly take the lead, and both are experienced corporate specialists. Since publication, Filip Uziębło has left the firm.

Practice head(s):

Pawel Rymarz; Pawel Zdort

Other key lawyers:

Jacek Zawadzki; Jakub Zagrajek

Testimonials

‘They are extremely dedicated, always responsive and ready to help.’

‘This is the only law firm in Poland which has so many fantastic lawyers under one roof.’

‘We found the Rymarz Zdrot team as very professional and paying great attention to details.’

‘The team is distinguished by great negotiating skills and knowledge in their field.’

‘They always put their clients first.’

‘They are able to process large volumes of information quickly and formulate an effective strategy for each case that is assigned to their workload.’

‘All the lawyers (both partners and associates) with whom we cooperated applied high standards of work, demonstrated the ability to build lasting relationships, negotiate as well as exert influence and persuade.’

Key clients

ExploRNA Therapeutics

Innova Capital

Lone Star Funds

Brookfield Renewable Partners L.P.

MCI.PrivateVentures and AMC Capital IV Albatros S.à r.l.

Aberdeen Standard Investments

Innova Capital and OPTeam

APG Investments

Work highlights

  • Advised BIF IV Europe Holdings Limited, an affiliate of Brookfield Renewable Partners L.P., on its investment in Polenergia S.A.
  • Advised the selling shareholders of ATM S.A., MCI.PrivateVentures (a subfund of MCI.EuroVentures 1.0) and AMC Capital IV Albatros S.à r.l. (a company advised by Mezzanine Management) on a transaction comprising the sale of 100% of the shares in ATM S.A. to Global Compute Infrastructure LP.
  • Advised Innova Capital and OPTeam in connection with the sale of Centrum Rozliczeń Elektronicznych Polskie ePłatności S.A. (“Polskie ePłatności”) to Rementi Investments S.A., a subsidiary of Nets A/S (“Nets”), a pan-European payment processing company based in Denmark.

Baker McKenzie Krzyzowski i Wspólnicy Sp.k.

Baker McKenzie Krzyżowski i Wspólnicy Sp.k.'s private equity offering is a key practice for the Warsaw office. The team advises financial sponsors, founders and sellers on transactional issues, and is able to draw on the firm's other departments to assist with tax structuring. Heading the department is Tomasz Krzyzowski , whose expertise spans private equity and venture capital, with a focus on the retail, technology and healthcare sectors. Weronika Achramowicz is the name to note for impact investment projects, and has developed substantial expertise in ESG issues. Magdalena Nasilowska handles investments arising from the manufacturing and new technology arenas. Senior associate Łukasz Targoszyński is fast gaining a reputation for ESG- and distressed asset-related deals. Filip Uziębło was a new arrival in July 2022.

Practice head(s):

Tomasz Krzyżowski; Filip Uziębło

Other key lawyers:

Weronika Achramowicz; Magdalena Nasiłowska; Piotr Wysocki; Michał Maj; Łukasz Targoszyński

Testimonials

‘Very dedicated team of people working in an ‘old school’ way, i.e. very client centric and super responsive.’

‘The team fully understands the business logic, is results oriented, and always strives to deliver not only legally, but also business sound solutions.’

‘We work the most (and prefer to work) with Łukasz Targoszyński. Besides being smart and utmost professional (which are the must haves), Lukasz is always very attentive, responsive, proactive, seeks solutions that fit for our needs w/o unnecessary complexity. Łukasz is a great person to work with.’

Understand the business and investment logics.’

Commitment and creativity.

Key clients

Credo Ventures

Miton Capital

Braindour Development Limited

Bain Capital

Abris Capital

UNIQA Ventures GmbH

Investment Fund of Adamed Pharma

Black Pearls VC

Nabbe Investments

PineBridge New Europe Partners

Paccor Packaging GmbH

Grouper Acquisition Company, LLC

MCI

SilverLake

Work highlights

  • Advised the founders and VC Funds on a prominent transaction, that is Mid Europa Partners’ buy-out of a majority stake in GWD Concept Displate from its founders, Credo Ventures, and Miton Capital.
  • Advised Nabbe Investments, backed by PineBridge New Europe Fund II-A, on the exit from the FX platform operator TMS Brokers to Oanda, a portfolio company of CVC.
  • Advised Diversey, a Bain Capital portfolio company and a global leader in high-performance hygiene, infection prevention and cleaning solutions, on the acquisition of SaneChem.

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

CMS Cameron McKenna Nabarro Olswang Posniak i Bejm sp.k.'s team advises international and regional CEE private equity houses, as well as funds with a sector focus, on the gamut of deals and investment strategies in Poland. The group has experience throughout the lifecycle of an investment, and lawyers are often instructed on the integration of acquired businesses, restructurings, growth strategies and divestments. Rafał Zwierz leads the corporate practice, while Sławomir Czerwiński coordinates private equity work. Błażej Zagórski, who has strong links with German-speaking clients, is experienced in transactions and restructuring projects. Counsel Olga Czyżycka is noted for her knowledge of restructuring and reorganisations of capital groups.

Practice head(s):

Rafał Zwierz; Sławomir Czerwiński

Other key lawyers:

Błażej Zagórski; Dariusz Greszta; Mateusz Stępień; Olga Czyżycka

Testimonials

‘Great service; commercial and detailed advice, going beyond the remit of a usual lawyer to ensure the transaction closes.’

‘They are our “go to” firm in Poland, heads and shoulders above their competitors in terms of depth of expertise, responsiveness, drafting, problem solving and commerciality.’

Key clients

Advent International

Abris Capital Partners

Macquarie’s Green Investment Group

Montagu Private Equity

Cinven

Mid Europa Partners

Polish Development Fund S.A. (Polski Fundusz Rozwoju S.A.)

The Apax’s PIB Group Limited

PFR Ventures

mAccelerator and its portfolio funds

Circap

CEE Equity Partners

Innova Capital

Work highlights

  • Advised InPost on its first public offering and listing on the Euronext Amsterdam Stock Exchange.
  • Advised Cinven and its portfolio company Partner in Pet Food on the acquisition of Mispol S.A., a Polish pet food producer, from NDX Group.
  • Advised Innova Capital and its portfolio company PLIC on the acquisition of Estonian company Label Print.

Dentons

At Dentons, lawyers stand out for advising on private equity transactions in regulated sectors, drawing on lawyers from across the firm in matters pertaining to energy, infrastructure, life sciences, media and telecoms. The Warsaw office is integrated into the firm’s CEE office network, and often acts as a hub for deals across the region. Piotr Dulewicz leads the department and jointly heads the firm’s Europe-wide private equity practice group. Paweł Grabowski combines private equity expertise with knowledge of the real estate sector, and is particularly active for asset acquisitions. Managing counsel Michał Wasiak is experienced in restructurings.

Practice head(s):

Piotr Dulewicz

Other key lawyers:

Paweł Grabowski; Michał Wasiak

Testimonials

‘Senior people supervising the whole projects are always up to speed on what is currently going on.’

‘Piotr Dulewicz is commercial and has a hands on approach.’

‘Michał Wasiak is commercial, hands on and always available.’

Key clients

Cornerstone Partners

CEE Equity Partners

NREP

KKR

Blackstone

Syntaxis Capital

White Star Capital

Resource Partners

Optimum Ventures Magántőkealap

Work highlights

  • Advised Optimum Ventures Magántőkealap on the acquisition from Lone Star Funds of a Dutch holding company that owns a 61% stake in GTC and on a public tender offer for 4.5% of shares in GTC listed on the Warsaw and Johannesburg stock exchanges.
  • Advised Resource Partners, a CEE-focused private equity fund, on its acquisition of a majority stake in Nesperta from its founders.
  • Advised Cornerstone Partners and Crestyl Group on the acquisition of 100% of shares in Budimex Nieruchomości.

DLA Piper Giziński Kycia sp.

DLA Piper utilises its expertise in corporate and M&A transactions to advise on high-value private equity deals in Poland. Clients include big names such as Mid Europa Partners and MCI.PrivateVentures, as well as the PFR Ventures wing of the Polish Development Fund. Jakub Marcinkowski leads the team. M&A department head Marta Frąckowiak continues to play an important role in the group, which also includes Jakub Domalik-Plakwicz. Counsel Wojciech Kalinowski has regulatory knowledge. Marek Sawicki left the firm in March 2021.

Practice head(s):

Jakub Marcinkowski

Other key lawyers:

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

Testimonials

‘We were provided with top-notch service and a highly professional team. Jakub Domalik-Plakwicz and his team were recommended to us by one of the M&A advisors as one of the leading transactional teams on the market.’

‘Jakub Domalik-Plakwicz – corporate partner who led our legal team. He is sharp, balanced and an excellent M&A/PE lawyer. I was impressed by his negotiation skills and commitment.’

Key clients

Mid Europa Partners

Polish Enterprise Fund VIII (managed by Enterprise Investors)

MCI.PrivateVentures

Resource Partners

Żabka Polska (a portfolio company of CVC Capital Partners)

Life Healthcare Group

Foreign Expansion Fund Closed-End Investment Fund of Non-Public Assets, managed by PFR Towarzystwo Funduszy Inwestycyjnych (a part of the Polish Development Fund, PFR)

Allegro.pl (a portfolio company of Cinven, Permira and Mid Europa Partners)

PFR Ventures (a part of the Polish Development Fund, PFR)

Hubert Burda Media

Work highlights

  • Advising Mid Europa Partners on the acquisition of a majority stake in GWD Concept (“Displate”) from its founders, Credo Ventures and Milton Capital.
  • Advising MCI.PrivateVentures, an investment fund from the MCI Group, on the sale of the Lithuanian company UAB Pigu to Mid Europa Partners.
  • Advising Polish Enterprise Fund VIII, managed by Enterprise Investors, on the acquisition of a majority stake in the Polish software company Software Mind from Ailleron for EUR 25 million.

DWF Poland Jamka Sp.k

DWF Poland Jamka Sp.k has established itself on the Polish market with a solid private equity practice, particularly in the energy and infrastructure space, with a team commended by clients for having 'super fast turnaround and a keen understanding of international M&A standards'. Areas of expertise include fund formation, venture capital financing and exits, while lawyers also handle leveraged buyouts, corporate restructurings and reorganisations of funds and their portfolio companies. Jointly taking the lead are Michał Pawłowski, who has financial regulatory and corporate governance expertise; Filip Urbaniak, a transactional lawyer focused on domestic and cross-border investments; and capital markets specialist Rafał Woźniak. Anna Wietrzyńska-Ciołkowska is another core team member with substantial knowledge of the gambling and insurance sectors.

Practice head(s):

Michał Pawłowski; Filip Urbaniak; Rafał Woźniak

Other key lawyers:

Anna Wietrzyńska-Ciołkowska

Testimonials

Super fast turnaround and a keen understanding of international M&A standards. Really appreciated the support of the team at DWF.’

Rafał Woźniak has done an outstanding job for us and led to us expanding the use of the DWF team more generally.’

‘Deliveries are always on time and the focus remained on anticipating issues and fixing them on the front-end.

DWF are very good in crafting solutions to new problems, ie rather than just checking / exploring past avenues, DWF is able to navigate novel areas, such as e.g. specifics related to Covid dynamics, where the regulatory landscape was in flux / just emerging.’

Michał Pawłowski, extremely knowledgeable about deal pipelines, specifics of deal dynamics and well networked; great experience in actual transaction parameters; key asset.’

Filip Urbaniak, a rainmaker behind the lines, very efficient account manager to the highest exec levels, willing to go the extra mile and mobilise resources from own office but also his international network to solve your problem; proactive, solution-oriented approach.’

Key clients

H.I.G. Capital

Enterprise Investors

KGAL ESPF 4 Holding S.à r.l.

Meyra Group sp. z o.o.

PFR Ventures sp. z o.o.

Dobra Energia dla Olsztyna and its shareholder Meridiam

Work highlights

  • Advised the ESPF 4 fund managed by KGAL on the acquisition of a 27MW wind farm project from the Boryszew Group.
  • Advised Meyra Group sp. z o.o. (a portfolio company of HIG Capital) on the process of its internal reorganisation.
  • Advised Dobra Energia dla Olsztyna, a company owned by key infrastructure funds in Europe, i.e. Urbaser and Meridiam, on all corporate (incl. corporate governance and negotiating the shareholders agreement) and commercial aspects of its activity in Poland, including further roll-out in Poland.

Linklaters

Linklaters houses a full-service private equity team that both advises clients on their transactions in Poland, and on cross-border deals across the CEE region, with the latter accounting for a large proportion of the group's instructions. Lawyers are experienced in the spectrum of downstream private equity and venture capital transactions, including pertaining to leveraged and management buyouts, acquisition finance and exit strategies. The department includes English-qualified Daniel Cousens, who spearheads much of the firm's work in the CEE and CIS regions. Marcin Schulz is the name to note for regulatory issues. English- and Polish-qualified Klaudia Królak is increasingly known for advising strategic investors on in-bound investments to Poland. Tomasz Zorawski left the firm in May 2022.

Other key lawyers:

Daniel Cousens; Marcin Schulz; Klaudia Królak

Testimonials

Proactive, experienced.’

Key clients

Ares Management

Bain Capital Credit

Carlyle

Lux Med/BUPA

Mid Europa Partners

Mirova

Niam

Polski Fundusz Rozwoju S.A.

Triton Partners

Work highlights

  • Advised Carlyle Group on the Polish aspects of the sale of Logoplaste to the Ontario Teachers’ Pension Plan Board.
  • Advised Triton Partners on the DKK 1,9 billion sale of its portfolio company Logstor
  • Advising Polski Fundusz Rozwoju S.A. with respect to the implementation of the “Financial Shield”, the government financial support programme aimed at reducing the economic impact of the COVID-19 pandemic.

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

White & Case M. Studniarek i Wspólnicy – Kancelaria Prawna sp.k.‘s private equity team has the benefit of being closely linked to the firm’s global office network, meaning lawyers in Warsaw are often instructed on cross-border transactions, in addition to a steady flow of work in Poland. The team is led by M&A department head Marcin Studniarek and includes Marek Sawicki, who has a solid track record in advising private equity and other sponsors on a number of high-profile acquisitions. Michał Petz focuses entirely on the venture capital and private equity space, assisting with financings, ‘acquihires’, buyouts and M&A. Aneta Maria Hajska is also noted.

Practice head(s):

Marcin Studniarek

Other key lawyers:

Marek Sawicki; Michał Petz; Aneta Maria Hajska

Key clients

Mid Europa Partners

Enterprise Investors

Booksy

PZU SA

Ramp

Molecule.one

Tylko

AI Clearing Inc.

StethoMe

Fundusz Ekspansji Zagranicznej FIZAN

Innovation Nest

Pitango

Evli Growth Partners

Inovo Venture Partners

Luma Holding (Luma Ventures)

PKN Orlen SA

Cashdirector

Work highlights

  • Advised Mid Europa Partners on its acquisition of Sage sp. z o.o., which provides accounting software services to small and medium enterprises in Poland, from the Sage Group Plc.
  • Advised the Ramp startup on raising of over PLN 37 million (approx. USD 10 million) in the seed funding round which was carried out by the US venture capital fund NfX and Galaxy Digital.
  • Advised Polish Enterprise Fund VIII (PEF VIII), a private equity fund managed by Enterprise Investors, on the acquisition, through a tender offer, of up to 100 percent of the shares in PragmaGO, a provider of financial services to the SME sector.

B2R Law Jankowski Stroinski Zieba

B2R Law Jankowski Stroinski Zieba's practice has a strong focus on the venture capital market, particularly in relation to the technology sector. Heading the team is experienced corporate lawyer Rafał Stroiński, who is instructed by buyers, sellers and target companies. Aleksandra Polak is a key member of the team, handling transactions for Polish and international venture capital funds and founders of target companies in their investment rounds.

Practice head(s):

Rafał Stroiński

Other key lawyers:

Aleksandra Polak; Agnieszka Hajos-Iwańska; George Havaris

Testimonials

Very motivated team led by an experienced M&A and PE expert – Rafał Stroiński.’

Rafał Stroiński is great with clients and has extensive experience in PE deals.’

It is a large team with a strong early stage VC practice, litigation, real estate.’

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 US VC fund Learn Capital on its USD 80 million Series D investment in Polish founded online learning platform Brainly.
  • Advised investment fund Barings BDC, Inc. on its multimillion-dollar merger with MVC Capital, Inc.
  • Advised Stability Capital on the formation of Poland focused Search Fund.

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

Deloitte Legal, Ostrowski, Gizicki i Wspólnicy sp.k.'s private equity practice is closely linked to the firm's offices across Europe, enabling it to provide joined-up advice on regional deals, utilising the consultancy firm's tax and financial advisory divisions. The group has experience of public-to-private transactions, as well as restructurings and spin-offs. Jointly taking the lead are Piotr Siezieniewski and Ryszard Manteuffel. Jacek Korzeniewski has transactional experience, but also focuses on regulatory matters.

Practice head(s):

Piotr Siezieniewski; Ryszard Manteuffel

Other key lawyers:

Jacek Korzeniewski

Key clients

A&R Investments Limited

American private investor

Work highlights

  • Advised A&R Investments on its purchase of 10% of shares in eobuwie.pl.
  • Advised an American investor on its public tender offer for Prochem S.A. shares.
  • Advised A&R Investments  on the sale of a retail park in Romania.

GESSEL Attorneys at Law

At GESSEL Attorneys at Law, the private equity practice is run by lawyers in the M&A department, under the overall leadership of Marcin Macieszczak. The group assists a variety of private equity houses with their Polish investments across the medical and biotechnology, energy and TMT sectors. Other key practitioners in the team include Małgorzata Badowska and Maciej Kożuchowski, both of whom have significant experience running transactions in the private equity and venture capital spaces.

Practice head(s):

Marcin Macieszczak

Other key lawyers:

Maciej Kożuchowski; Małgorzata Badowska; Michał Bochowicz; Karol Sokół

Testimonials

‘Exceptional engagement of the lawyers.’

‘Very good understanding of business aspects of the transaction and its complexity.’

‘Very competent.’

‘Commercial approach to risk and problem solving.’

‘Senior lawyers actively working on transaction.’

‘Malgorzata Badowska is very competent and engaged.’

‘Attention of senior lawyers to all aspects of the transaction.’

‘Oriented at problem solving rather than only pure risk identification, proactively finding ways out of problems, fully reliable.’

Key clients

Enterprise Investors

AVALLON

Black Forest

Highlander Partners

Sunfish Partners

Veracomp

Mezzanine Management

inFakt

MotionVFX

Work highlights

  • Advised the Michał Sołowow-owned Black Forest fund on its investment in Corab
  • Advised the founders of R2G Polska Sp. z o.o., operating under the trademark Apaczka on the sale of a stake to a subsidiary of the Abris CEE Mid-Market III LP fund managed by Abris Capital Partners Ltd.
  • Advising Veracomp S.A. and its shareholders on the sale of the company’s business enterprise to an entity from the international Exclusive Networks Group.

Kochanski & Partners

Private equity transactions are a staple for the team at Kochanski & Partners, which has an impressive array of funds clients, notably in the real estate sector. The group assists investment committees and management boards with all stages of the fund's lifecycle, and has experience in acting for funds entering the Polish market. Rafal Rapala heads the transactional team, working closely with real estate practice head Pawel Cholewinski. Pawel Mardas takes the lead on M&A, and as such, has extensive knowledge of private equity deals, as well as restructurings and reorganisations of assets.

Practice head(s):

Rafał Rapala

Other key lawyers:

Paweł Cholewiński; Paweł Mardas; Szymon Balcerzak; Karol Połosak

Key clients

State Street Global Advisors

Beneteau Group

ProService Finteco

Ferro Corporation

Ductor AG

Cornerstone Partners Sp. z o.o.

Work highlights

  • Advising State Street Global Advisors on setting up and running of investment and brokerage activities in Poland.
  • Advising Beneteau Group on the enterprise acquisition of Delphia Yachts (acquiring its design, building and marketing operations concerning sailing and motor yachts under the Delphia Yachts and Maxi Yachts brands).
  • Assisting Proservice Finteco with several pending projects in Poland, including corporate and M&A transactions for a number of acquisitions of Polish fintech companies and software producers.

Konieczny, Wierzbicki Kancelaria Radców Prawnych sp.p.

Konieczny, Wierzbicki Kancelaria Radców Prawnych sp.p. is a Kraków-based firm that has built a solid offering pertaining to private equity and venture capital transactions focusing on the technology sector, predominantly advising target companies on receiving investment and disinvestment. The practice is led by counsel Paulina Opiełka. Co-founding partners Marcin Wierzbicki and Michał Konieczny are also noted.

Practice head(s):

Paulina Opiełka

Other key lawyers:

Marcin Wierzbicki; Michał Konieczny

Testimonials

The firm is distinguished by its approach to each case. Each topic raised is treated with utmost care and the person assigned to a particular issue is a specialist in a given field, thanks to which we receive a fully professional legal service.’

‘We have been cooperating with this firm for many years and during numerous difficult issues, the lawyers of the firm have worked together on the case to achieve the best possible result in the shortest possible time.’

Marcin Wierzbicki is not only an experienced lawyer with extensive knowledge of Polish and European law but also an excellent manager. Thanks to his excellent supervision of numerous projects, each transaction managed by him is very beneficial for the client, thus opening a whole range of new opportunities for the firm’s development.’

Their scope of advice for start-ups included, among other things, the preparation and negotiation of investment agreements, advising on the tax consequences of the investment and state aid, support regarding the protection of IP rights, data privacy, and contracts in everyday business.’

Paulina Opiełka – her extensive knowledge and experience combined with her dedication to the legal profession convinced us to entrust her with many legal issues. She is not only an excellent lawyer but also a great manager. She uses many innovative projects, including introducing technological innovations that help organize the work of the whole team.’

Great responsibility for the success of the entire project and technological issues new to the Polish market were the two main reasons why we chose this law firm over others.’

Paulina Opiełka is worth recommending due to her outstanding skills connected with, among others, preparing appropriate agreements, thus leading to quick completion of the transaction.’

‘Michał Konieczny was extremely helpful during the preparation of the entire strategy of our company, sharing with us his long-standing experience.’

Key clients

Ailleron S.A.

Software Mind sp. z o.o.

Valuetech Seed sp. z o.o./ASI Valuetech Seed sp. z o.o. sp. k.

Nomad Management GmbH S.K.A.

GlucoActive

Fundacja Przedsiębiorczości Technologicznej (Foundation for Technological Entrepreneurship)

Novomatic Technologies Poland

Medican Campus sp. z o.o.

Hashiona sp. z o.o.

Digital Ocean Ventures sp. z o.o.

ERC sp. z o.o./Alternative Investment Fund ERC sp. z o.o. sp. k.

Hub4Fintech S.A.

Avatrix S.A.

Work highlights

  • Advising Ailleron on a transaction where Enterprise Investors invested PLN 111M in Software Mind by purchasing from its shareholder existing shares for PLN 40M and providing a capital injection of PLN 71M.
  • Advising Nomad Management on all aspects of its disinvestment from Booksy International.
  • Advising Digital Ocean Ventures on the establishment of an innovative entity operating as a start-up incubator, one of the first entities of its kind in Poland.

Norton Rose Fulbright

Clients appreciate that Norton Rose Fulbright‘s team has ‘a high level of diversity, extremely practical approach and a focus on closing deals‘. Lawyers advise on private equity transactions at all stages, throughout the fund lifecycle, advising clients on buyouts, restructurings and exit transactions. Heading the team is Agnieszka Braciszewska, who has vast experience in the private equity field. Senior associate Aneta Janecka is another important team member, and has a focus on real estate-based deals.

Practice head(s):

Agnieszka Braciszewska

Other key lawyers:

Aneta Janecka; Maciej Dubiel

Testimonials

‘High level of diversity, extremely practical approach, focus on closing the deals’

‘Agnieszka Braciszewska is extremely engaged and effective in getting things done.’

‘Good local network and strong support during due diligence and negotiations.’

Key clients

Abris Capital Partners

Aegon Growth Capital

AIG

Amicus Therapeutics

Aquila Capital Management GmbH

Bayer

Benefit Systems S.A.

Bioplan Europe

Cathay Pacific Airways Ltd.

Chubb

Dot2Dot

Domestic & General Group Ltd.

Egis Road Operation S.A.

Energizer

ICAP Management Services

IMI plc

Industrial Division Spółka z o.o.

ING Bank N.V.

KIRCHHOFF Automotive GmbH

Lindorff

MoneyGram

Nestle

SAAB

Sandvik

SUSI Partners

Toyota Tsusho

Velvet CARE Sp. z o.o.

Volvo Trucks

XL Insurance Company SE

Work highlights

  • Advised Abris Capital Partners on the exit from its investment in Industrial Division Sp. z o.o.
  • Advised Abris Capital Partners on its acquisition of R2G Polska sp. z o.o. owner of apaczka.pl.
  • Advised SUSI Partners on a renewable energy joint venture in Poland with a local partner for the acquisition of the greenfield PV and wind projects, development of retail trading arm with cPPA offtake capabilities and electricity balancing power offering.

Schoenherr Stangl sp.k.

Schoenherr Stangl sp.k.'s team is steeped in corporate and M&A knowledge, enabling it to advise management and supervisory boards and shareholders on a wide variety of private equity investments, with strong links to the German-speaking market. Paweł Halwa heads the group and draws on valuable experience in public takeovers, reorganisations, finance and restructuring. Krzysztof Pawlak and Marcin Antczak are also active in the transactional practice.

Practice head(s):

Paweł Halwa

Other key lawyers:

Krzysztof Pawlak; Marcin Antczak; Daria Rutecka

Testimonials

‘Paweł Halwa is for me the power behind Schoeherr. He is always available and strong in his help and explanations’

‘Professionalism and great conduct by all the staff. Engagement/lead-out of the senior staff into each project.’

‘Perfect understanding of people’s needs, ability to find executable solutions in situations of conflict’

‘Great transaction lawyers. Very service-oriented.’

‘We had a cross border transaction; Schoenherr did this in a very organized way and supported us wherever possible.’

‘It is a pleasure to see the good atmosphere within the team and to feel real team spirit.’

‘Dedication, hands-on attitude, focused on problem solving.’

‘I’m not a legal person and Paweł Halwa always explains in the way I understand. With other offices world wide this is different.’

Key clients

Summit Partners

Dagat-Eco

Work highlights

  • Assisted Summit Partners and its lead counsel with due diligence and transactional matters related to acquisition by Summit Partners of a stake in Syndigo, LLC (f/k/a Gladson), including the indirect acquisition of a stake in two Polish entities.
  • Advised Dagat-Eco as sellers on negotiations of documentation pertaining to the sale to Omikron Capital PE of 100% of shares in Dagat-Eco sp. z o.o. to an investment vehicle as well as advice concerning post-closing cooperation of the parties.

SSW Pragmatic Solutions

SSW Pragmatic Solutions advises an impressive range of private equity houses and venture capital funds, as well as sectoral and private investors on their Polish investments, divestments and exits. Key practitioners are Wojciech Szczepaniak, who has experience of establishing private equity funds, as well as advising them on their day-today operations; Paweł Chyb, an accomplished M&A lawyer; Sebastian Ponikowski, whose practice includes private equity transactions, as well as reorganisations; and Szymon Okoń, who provides expertise in financing.

Practice head(s):

Wojciech Szczepaniak; Paweł Chyb; Sebastian Ponikowski

Other key lawyers:

Szymon Okoń; Katarzyna Solarz

Testimonials

Young, dynamic and driven.’

‘SSW covers broad range of law areas and can provide comprehensive advise.’

I work with Szymon Okoń: Driven, responsive and dedicated to clients.’

Key clients

City Parking Group S.A. (controlled by Royalton Partners PE Fund)

Credit Value Investments

Unilink SA (Enterprise Investors as PE investor)

Royalton Partners

Dirlango Trading & Investments

Innova Investments LLC

Kom-Eko S.A. (controlled by Royalton Partners PE Fund)

Aerium Group / Bainbridge

Afinum PE

MCI

Masterchem Logoplaste (controlled by Carlyle)

Aria Fund

Work highlights

  • Acted as the local Polish legal adviser to Mid Europa Partners on the purchase of Pigu from MCI (following a restructuring entailing a demerger of Pigu from Morele Group, a Polish e-commerce giant).
  • Advised Dirlango Trading & Investment Ltd on the process of sale of 100% shares in Virgin Mobile Polska to Play Communications (P4).
  • Advising Origami Partners on its acquisition of five shopping centres located in Poland owned by the one of the biggest food operators in Europe.

Wardynski & Partners

Wardynski & Partners is best known for assisting international firms with the Polish aspects of cross-border private equity deals. The group specialises in local transactional structures and due diligence procedures. Lawyers are situated in the M&A department, with Pawel Ciecwierz and Izabela Zielińska-Barłożek taking a leading role in a number of mandates. Anna Dąbrowska is another key lawyer, admitted to practice in England and Poland, with experience in structuring issues.

Other key lawyers:

Izabela Zielińska-Barłożek; Paweł Ciećwierz; Krzysztof Libiszewski; Anna Dąbrowska

Testimonials

‘The team at Wardynski were professional, responsive and commercial, adapting themselves to the way we wanted to work.’

‘Very good business acumen, build rapport with the client quickly, high quality and very proactive’

‘Izabela Zielinska-Barlozek is proactive and provides very high quality advice.’

Key clients

Appfire International Holdings, LLC (a TA Associates portfolio entity)

CapVest Partners

Eight Roads Ventures

Faerch A/S

Advent International

GTCR LLC

Investindustiral

Pamplona Capital Management

THL Partners

Triton

Work highlights

  • Advised Triton on the Polish aspects of its acquisition of a majority stake in FairWind A/S.
  • Advised Advent International Corporation on the Polish aspects of its divestment from Faerch Group.
  • Advised Patron Capital on the simultaneous sale of 100% shares in Headland Holdings Polska sp. z o.o. (Company) and the mortgage receivable owed by Headland Holdings Polska sp. z o.o. to Drive Loan Acquisition Designated Activity Company (a subsidiary of Patron Capital Adviser), along with the collaterals.

WKB Wiercinski, Kwiecinski, Baehr

WKB Wiercinski, Kwiecinski, Baehr's team acts for a strong roster of institutional investors, which it advises on domestic and cross-border transactions across a wide variety of sectors. The group is situated in the corporate department, under the leadership of Jakub Jędrzejak, with Ben Davey taking the lead on international private equity deals. Managing associate Tomasz Maślak is increasingly known for providing support on buy- and sell-side deals.

Practice head(s):

Jakub Jędrzejak  Ben Davey

Other key lawyers:

Tomasz Maślak; Dominik Kulpa

Testimonials

‘Dominik Kulpa is very pro-active and has excellent interpersonal skills in managing the other side of the transaction’

Key clients

Innova Capital

Avia Capital

Avallon

IK Investment Partners

Accolade

Work highlights

  • Advised Orkla Group on the sale of its Polish skin care business, including the Soraya and Dermika brands, together with its Radzymin production facility, to Bielenda Kosmetyki Sp. z o.o. Sp.k..
  • Assisted mBank S.A. as lender with the process of providing an acquisition facility to Custodia Capital Flix sp. z o.o. for the purposes of financing the acquisition of Atende Software.
  • Advised Osborne Clarke (as global counsel) on the sale of shares in Western Global Holdings Limited to MML Capital.