On September 1, 2021, Przemysław Furmaga, who will be the Partner responsible for the M&A practice, has joined CRIDO Legal. He brings with him Aleksandra Czarnecka and Andrzej Dunikowski, who will hold Senior Associate positions.

Przemysław Furmaga will be responsible for developing the legal advisory practice in the area of ​​mergers and acquisitions. As a new Partner at CRIDO Legal he has many years of experience in running domestic and cross-border M&A projects, which he gained mainly at DZP law firm, recently as a Partner in M&A team . In acquisitions, he represented clients on both the sellers and buyers’ side. He has worked with international corporations, private equity funds and private entrepreneurs. He has also advised on management buyout transactions and in corporate disputes.

Aleksandra Czarnecka and Andrzej Dunikowski have also joined the M&A team, both holding Senior Associate positions. Before joining CRIDO, Andrzej cooperated with Przemysław at DZP, the law firm for which Aleksandra has worked in the past as well.

As leader of the M&A team, I will focus on further developing this practice, in particular in ​​servicing Polish entrepreneurs on acquisition projects, both on the “sell” and “buy” side, including foreign acquisitions, as well as in transactions involving PE and VC funds. Our team consists of experienced experts, so I am sure that we will provide clients with the highest level of support in every aspect of the M&A process, and that we will work on many projects at the same time – says Przemysław Furmaga, Partner at CRIDO Legal.

M&A projects are an important part of CRIDO’s activities, which is why we are building a strong team of specialists in this field. In cooperation with tax advisory and corporate finance teams as well as the modelling and valuation team, our lawyers will be able to support clients not only in legal but also business matters. We know that M&A projects are complex, multi-threaded, require an individual approach and look at a given transaction from a broader perspective. This is how we want to help our clients. We are seeing a buoyant market right now, so we are convinced that this is a good time to develop services in this area – says Jakub Ziółek, Managing Partner of CRIDO Legal.

CRIDO developing M&A practice

CRIDO Legal has advised the Hungarian fund PortfoLion, one of the EUR 40 million Series B round investors. It was the largest Series B round in Poland and one of the largest in the CEE region in 2021. As a result of this round, Packhelp S.A. obtained funds for further dynamic development and strengthening its position.

PortfoLion is a fund investing in, among others, start-ups at all stages of development and operating throughout Central and Eastern Europe. As part of the Series B round, the fund invested in Packhelp S.A., known in Poland as zapakuj.to, which offers personalized packaging with its own imprint to customers from Poland and abroad. So far, it has been the largest Series B financing round this year in Poland and one of the largest in the CEE region. The leading investor in this round was the French fund InfraVia Capital Partners, and the other investors were: PortfoLion (CRIDO’s client), FJ Labs, Market One Capital, PROfounders Capital, Speedinevest, Inovo Ventures Partners and White Star Capital.

The financing obtained under the Series B round is intended, inter alia, to prepare the company for a wider expansion in the country and abroad. Thanks to the support obtained from investors, Packhelp will have an opportunity for even more dynamic development and strengthening its position. We are glad that young Polish technology companies are attracting more and more interest from foreign investors and that we can participate in more and more interesting projects of this type – comments Przemysław Furmaga, Partner and Head of the M&A practice at CRIDO Legal.

The support of CRIDO Legal experts has included comprehensive legal advice on negotiating and signing transaction documentation for PortfoLion. Apart from Przemysław Furmaga – Andrzej Dunikowski, Senior Associate and Filip Sobociński, Junior Associate from the M&A team at CRIDO Legal, were also involved in the transaction.

The CRIDO Legal team consists of experienced lawyers who understand the specifics of the operation of large corporations, PE / VC funds, young technology companies with high growth potential, and family businesses from various sectors of the economy.

CRIDO Legal has advised on the largest Series B financing round in Poland in 2021

CRIDO has advised AKREDO, a Polish company operating within the international CLAR group, on the acquisition of the Loando Group operating in the field of online loan comparison websites and creating a global ecosystem of innovative companies and start-ups dealing with new technologies, fintech and digital marketing.

The transaction concerned the acquisition of control over a group of 10 companies, which consisted of 6 Polish companies and 4 foreign entities (Spain, Russia, Czech Republic, Ukraine).It involved the implementation of a complex price settlement mechanism with a security package for the benefit of sellers.

Thanks to this transaction, AKREDO significantly strengthened its position on the market of credit comparison websites. We are glad that we had the opportunity to advise AKREDO and CLAR on a very interesting transaction in the area of ​​fintech, which enabled them to acquire approximately 1 million new clients. Work on the transaction was intense, because everyone wanted to close it before the end of 2021. TThe goal was achieved, to both the client’s and our satisfaction – comments Przemysław Furmaga, partner responsible for the M&A team at CRIDO Legal, who together with Andrzej Dunikowski, senior associate and Filip Sobociński, junior associate, was responsible for the transaction.

As part of the cooperation,  CRIDO provided comprehensive advice in preparating the transaction documentation drafts, including resolutions regarding the price settlement mechanism and security mechanisms and supported the client in negotiating the transaction, and in signing it. Transaction documentation and negotiations were conducted simultaneously in the Polish and English language versions.

The M&A CRIDO Legal team consists of experienced lawyers who understand the specifics of the operation of both large corporations, PE / VC funds, young technology companies with high growth potential, and family businesses from various sectors of the economy.

CRIDO Legal has advised on transactions in the fintech industry

CRIDO has advised on the acquisition of Rolling-Robotics by the Belgian company VMA N.V., part of the CFE Group. CRIDO’s services included, in particular, conducting due diligence and transaction advisory services.

Rolling-Robotics operates in the industrial automation industry and developes software for the automotive industry. Its solutions are used by the largest entities in the  sector.

The acquisition of Rolling-Robotics by VMA shows that investment in Poland, including companies from the industrial automation and new technologies sector, is attractive to foreign investors. It is another such transaction in which we have participated recently. – comments Przemysław Furmaga, Partner and Head of the M&A practice at CRIDO Legal

Legal advice on the project was provided by CRIDO’s Przemysław Furmaga (Partner at CRIDO Legal), Alekandra Czarnecka (Senior Associate at CRIDO Legal) and Michał Tokarz (Junior Associate at CRIDO Legal) from the M&A team and Edyta Defańska – Czujko (Partner at CRIDO Legal) and Aneta Brzózka (Associate at CRIDO Legal) from the employment law team. All tax matters on the project were coordinated by Mateusz Stańczyk (Partner at CRIDO) Michał Kwaśniewski (Senior Manager at CRIDO) and Maciej Rosiński (Senior Consultant at CRIDO).

At the Client’s level, Cecile Verougstraete, Legal Manager, was responsible for work on the documentation while Thomas Ducamp, CFO at VMA was responsible for running the entire project.

CRIDO has advised on the acquisition of a company from industrial automation sector

CRIDO acted as a corporate finance and legal advisor on Alfa Brokers Sp. z o.o.’s deal with a strategic investor. Alfa Brokers is set to strengthen its position in the insurance brokerage market thanks to its new strategic partner – RENOMIA Gallagher.

Alfa Brokers has reached another milestone in growing its business, becoming a part of a global network and aiming to improve their clients’ experience of using Alfa Brokers’ services and benefiting from the most advanced solutions.

“We have agreed with RENOMIA that they will become a majority shareholder in Alfa Brokers. Both our team and our clients will benefit from our company becoming a part of a leading global player with impressive know-how and highly-valued resources, which we will apply to our 30-year experience in the Polish insurance brokerage market. This integration of our talented staff and RENOMIA Gallagher’s global penetration capacity creates a perfect platform for further developing Alfa Brokers’ services for our clients and growth in future years,” says Tomasz Chojnowski, Chairman of Alfa Brokers’ board of directors.

In the acquisition deal, CRIDO acted  as a financial advisor to Alfa Brokers Sp. z o.o. and its shareholders. Transactional support on behalf of CRIDO was provided by: Artur Marszałkiewicz, Managing Partner at CRIDO leading the Corporate Finance team, Aleksandra Małolepsza, senior associate, supported by Moniką Olak, senior financial analyst.

CRIDO also acted as a legal advisor for the company and its shareholders. CRIDO Legal works were coordinated by Mateusz Baran, Partner, who was supported by Marzena Lau, senior associate, and Dominik Przywara, associate.

“Artur Marszałkiewicz with his CRIDO team were there for us during the entire process. Thanks to their competence and commitment, the process was conducted with great efficiency and the deliverables were highly satisfactory,” adds Tomasz Chojnowski, Chairman of Alfa Brokers’ Board of Directors and shareholder.

We are pleased that we were chosen to help with a transaction that is set to shake up the market and may in the future change the balance of power in the insurance brokerage business in Poland. “In this case, the client has trusted CRIDO to handle all aspects of the transaction,” says Artur Marszałkiewicz, who heads CRIDO’s Corporate Finance team.

CRIDO supports entrepreneurs, corporations and PE/VC funds in domestic and cross-border M&A transactions at every step of the way. CRIDO’s package of advisory services includes tax and financial due diligence, corporate finance and comprehensive legal support, including legal due diligence.

CRIDO’s Corporate Finance team provides comprehensive transaction advice during the M&A processes. It also supports clients in seeking financing for acquisition deals, business development and project finance type of investment undertakings. To achieve results, it leverages its cooperation ties with banks, PE funds and specialist funds.

CRIDO advised on bringing in a strategic investor for Alfa Brokers

CRIDO acted as Corporate Finance advisors to the Owners of Aura Medic Południe sp. z o.o., which owns two magnetic resonance diagnostic centres – in Stalowa Wola and Radomsko.

Two magnetic resonance diagnostic centres (in Stalowa Wola and Radomsko) have come under new ownership. The previous owners chose to sell 100 percent of their shares in the company to Bonus-Diagnosta sp. z o.o., a company controlled by PZU Zdrowia S.A., which operates in the medical services sector.

The sale was facilitated by CRIDO, which acted as the sole corporate finance advisor to the company’s owners. Transactional advice was rendered by: Artur Marszałkiewicz, managing partner at CRIDO leading the Corporate Finance team, Aleksandra Małolepsza, senior associate, and Monika Olak, senior financial analyst.

Artur Marszałkiewicz and his CRIDO team supported us throughout the transaction. Thanks to the team’s professional handling of the process and their unwavering commitment we were able to negotiate very favourable terms – says Damian Biedulski, (former) President of the Board of Directors and Aura Medic shareholder.

We are pleased to have played our part in PZU Zdrowie’s dynamic growth in the medical services sector while securing very favourable commercial terms for our client – adds Artur Marszałkiewicz, managing partner heading CRIDO’s Corporate Finance team.

CRIDO supports entrepreneurs, corporations and PE/VC funds in domestic and cross-border M&A transactions at every stage in the process. CRIDO’s package of advisory services includes due diligence, tax, financial, corporate finance and comprehensive legal support, including legal due diligence.

CRIDO’s Corporate Finance team provides comprehensive transaction advice in M&A processes. We also support clients in seeking financing for acquisitions, development, investment projects and project finance deals. This is made possible by our close cooperation with banks, PE funds and specialist funds.

CRIDO advised on the sale of 100 percent of Aura Medic Południe shares

CRIDO’s support involved comprehensive legal advice in negotiating and signing transaction documents at PortfoLion level – one of the investors in the seed round. CRIDO was represented by Przemysław Furmaga, partner heading the CRIDO Legal M&A and PE/VC team, Andrzej Dunikowski, senior associate, Filip Sobociński, junior associate.

Through the Mindgram platform, company employees and their families can access psychological counseling and consult preventative medicine specialists and personal development coaches. The start-up was launched in 2021. The financing which we have helped to arrange is intended to spur growth and international expansion.

Alongside Credo Ventures (lead investor), Nuntak Capital, Market One Capital and Pamoja Capital, PortfoLion was one of the Midgram investors in the seed round. The seed round was for EUR 7 million and was one of the biggest seed rounds in Poland to date.

The Mindgram transaction is another VC type of project we have been involved in in the last few months, this time acting for the investor. Mindgram is an excellent example of a company which provides services in what is a growing well-being and mental health sector. Limited access to psychological counselling, pandemic-induced anxiety, and the current volatile political situation make for ideal growth opportunities for companies such as Mindgram. Mindgram’s impressive start and promising international expansion have drawn the attention of VC investors, which is attested to by the successful seed round where we had the opportunity to support PortfoLion – says Przemysław Furmaga, partner leading CRIDO Legal’s M&A PE/VC team.

CRIDO supports companies, company founders and investors in Private Equity and Venture Capital type of transactions. We provide a full range of services including transaction structuring, due diligence studies (for legal, tax and financial purposes) and preparing and negotiating transaction documentation.

CRIDO advised PortfoLion fund on investment in Mindgram