Category: Poland

Taylor Wessing has advised Da Gama ASI on its investment in Ready Bathroom. Zydek Pliszka Korcik advised Ready Bathroom.

Da Gama ASI is a fund managed by Vinci, a subsidiary of Bank Gospodarstwa Krajowego. According to Taylor Wessing, the Da Gama ASI Fund finances the international development processes of Polish entrepreneurs. Vinci manages two other funds: HiTech ASI, which provides capital to technology companies at various stages of development, and IQ ASI, which invests in early-stage research and development projects.

Ready Bathroom is Poland’s largest manufacturer of prefabricated bathroom modules used in residential and commercial construction.

The Taylor Wessing team included Partner Zbigniew Korba and Counsels Michal Julig and Jan Adamus.

The Zydek Pliszka Korcik team was led by Partner Tomasz Zydek.

Balicki Czekanski Gryglewski Lewczuk and, reportedly, Dotlaw have advised Symfonia on its full acquisition of eDokumenty and acquisition of a 51% stake in MoreBIT.

According to BCGL, eDokumenty is “renowned for its Ready-TM platform facilitating document management, whereas MoreBIT offers dedicated IT solutions based on the Ready-TM platform. The acquisition of eDokumenty and MoreBIT marks another strategic step in Symfonia’s overarching plan to solidify its leadership in ERP, payroll, and HR software tailored for SMEs in Poland.”

Last year, BCGL also advised Symfonia on its acquisition of a majority stake in HRtec (as reported by CEE Legal Matters on May 25, 2022).

The BCGL team was led by Partner Jacek Balicki and Senior Associate Michal Wilinski.

The firms did not respond to our inquiry on the matter.

Norton Rose Fulbright has advised a consortium including PKO Bank Polski, Bank Gospodarstwa Krajowego, mBank, and Santander Bank Polska on their PLN 800 million financing for the construction of a 72.6-megawatt wind farm. Greenberg Traurig advised the project’s sponsor, the Polsat Plus Group.

The wind farm is located in Gledowo, Brzezno, Skarszewo, and Jeczniki Wielkie, Czluchow Commune, in the Pomorskie Voivodeship in Poland.

According to Norton Rose, the facilities agreement provides for the granting of a zloty term facility up to a maximum amount of PLN 656 million, a revolving facility up to a maximum amount of PLN 44 million, and a revolving VAT loan up to a maximum amount of PLN 100 million.

The Norton Rose team included Partner Tomasz Rogalski, Counsel Krzysztof Gorzelak, Senior Associates Igor Kondratowicz, Cezary Zawislak, and Patrycja Pakla, Associates Daniel Ksiazek, Paula Stepien, Magdalena Olechniewicz-Blocher, Karol Truszkowski, and Cezary Zientecki, and Lawyers Wiktoria Sulkowska, Mikolaj Wolczynski, Martyna Sadowy, Bartosz Odziemkowski, and Martyna Orlowska.

The Greenberg Traurig team included Local Partner Paulina Kimla-Kaczorowska, Associates Katarzyna Goljan, Wiktor Zien, Marcin Gralewski, and Angelika Makar, Junior Associates Szymon Grudzien, Natalia Potrubacz, Weronika Kopec, and Justyna Kozik, and Compliance Officer Joanna Bojko.

White & Case has advised dealers Bank Polska Kasa Opieki, BNP Paribas, BofA Securities Europe, Citigroup Global Markets Europe, and JP Morgan on the establishment of Bank Pekao’s EUR 5 billion program for the issuance of medium-term eurobonds and first EUR 500 million issuance of 5.5% fixed-to-floating green bonds maturing in November 2027. Baker McKenzie advised Bank Pekao.

According to White & Case, “the base prospectus was approved on November 13, 2023, by the Commission de Surveillance du Secteur Financier in Luxembourg. Under the EMTN program, the eurobonds can be issued in euros, Polish zlotys, or other currencies, and the securities can have green or sustainable debt status. As part of the transaction, White & Case also advised the same group of financial institutions acting as joint bookrunners on Bank Pekao’s issuance of 5.500% fixed-to-floating green bonds maturing in November 2027, with a nominal value of EUR 500 million.”

The senior non-preferred MREL eurobonds are listed on the Luxembourg Stock Exchange and will be listed on the Warsaw Stock Exchange.

The White & Case team included Partner Marcin Studniarek, Local Partner Bartosz Smardzewski, and Associate Michal Truszczynski.

The Baker McKenzie team included Warsaw-based Partners Marcin Chylinski and Michal Glowacki, Counsel Katarzyna Grodziewicz, and Lawyers Robert Smigielski, Marta Rykalovska, and Kajetan Huruk, as well as further team members in London.

Rymarz Zdort Maruta has advised an MCI Capital fund on the acquisition of Webcon. Gessel advised the sellers.

MCI Capital is a digital and climate technology private equity fund in Central and Eastern Europe. It has over EUR 500 million in assets under management.

Webcon is a Polish low-code software developer.

According to Rymarz Zdort Maruta, “as a result of the transaction, MCI Capital will be able to contribute to the foreign expansion and further development of Webcon to support it in becoming a market leader at least on a European scale, while expanding its portfolio of B2B companies offering proprietary software.”

The Rymarz Zdort Maruta team included Managing Partner Pawel Zdort and Associate Szymon Rutecki.

The Gessel team included Partners Michal Bochowicz and Dominika Ramirez, Counsel Agnieszka Nowacka, Senior Associates Katarzyna Zarzycka and Pawel Kosmal, Associate Maria Kozlowska, and Junior Associate Pawel Osmolski.

MJH Moskwa Jarmul Halady has advised Best Capital Fizan on its EUR 4.2 million issuance of bonds maturing October 2027, to be listed on the Catalyst alternative trading system of the Warsaw Stock Exchange.

Best Fizan is an entity of the Best Capital Group. According to MJH, the Best Capital Group is one of the leaders of the Polish debt market.

“The funds raised from the bond issuance will be used to indirectly finance debt purchases and servicing,” the firm reported.

The MJH team was led by Partner Pawel Cyganik and included Senior Associate Adrianna Boron and Associate Milena Zawisza.

MJH did not respond to our inquiry on the matter.

DWF has advised Polish private airline Enter Air on the establishment of a joint venture with TUI to provide aircraft rental and charter flight services to commercial customers.

The TUI Group is a German leisure, travel, and tourism company headquartered in Hanover.

According to the firm, Enter Air, operating in Poland for 14 years, is the largest private airline and the undisputed leader of the tourist market in the country, as well as one of the largest charter airlines in Europe in terms of its fleet. The Group provides connections for leading Polish and foreign travel agencies, flying to over 30 countries and over 250 airports.

Back in August, DWF also advised the Enter Air Group on a EUR 25 million financing from a consortium including Bank Pekao and mBank (as reported by CEE Legal Matters on August 29, 2023).

The DWF team was led by Partner Rafal Wozniak and included Poland Managing Partner Michal Pawlowski, Partners Adrian Jonca and Oskar Tulodziecki, Counsels Lech Najbauer and Izabela Plis, and Associate Patrycja Figula, as well as further members in Belfast.

WKB Lawyers has advised SAS Groupe Positive on its acquisition of User.com. Gessel advised founder Grzegorz Warzecha and investor Vercom on the sale.

SAS Groupe Positive is a French software publisher dedicated to business communications and marketing. It evolved from the Sarbacane company, is based in Lille, and supports more than 30,000 companies with its 300 employees spread across France, Germany, Italy, Spain, and Poland.

User.com is a marketing automation platform aimed at boosting engagement and improving conversion.

The WKB team included Partner Anna Kratiuk and Attorneys at Law Magdalena Purol and Olga Tajak.

The Gessel team included Partners Michal Bochowicz and Karol Sokol, Counsels Inarda Bielinska and Agnieszka Nowacka, Senior Associates Rafal Smolik, Edyta Podgorska, Diana Strzalkowska, and Daria Golus, Associates Maria Kozlowska and Wiktoria Bednarska-Busz, and Junior Associate Pawel Osmolski.

Schoenherr has announced it is expanding its Warsaw office with the addition of a team of 23 lawyers, including seven partners, as of February 2024. The move includes Partners Szymon Okon, Pawel Chyb, Ilona Fedurek, Tomasz Kwasniewski, Katarzyna Solarz, Katarzyna Szczudlik, and Marcin Czaprowski from SSW Pragmatic Solutions.

Specializing in capital markets, Okon has spent over 13 years at SSW Pragmatic Solutions. He initially joined the firm in 2010 as a Senior Associate and was promoted to Partner and General Partner in 2015 and 2021, respectively. Okon has also been an Assistant Professor at Poznan University of Economics between 2015 and 2017, and at Warsaw School of Economics since 2017.

Chyb, specializing in corporate/M&A, first joined SSW Pragmatic Solutions in 2013 as a Senior Associate and was promoted to Partner in 2015. Between 2007 and 2012, he was a Lawyer at Domanski Zakrzewski Palinka. In 2007, Chyb also worked as a Lawyer at Furtek i Wspolnicy, while between 2005 and 2007, he was a Legal Assistant at Soltysinski & Szlezak.

Fedurek has expertise in banking/finance, and joined SSW Pragmatic Solutions in 2021 as a Partner. Earlier, she was a Counsel at CMS between 2017 and 2021. Prior to that, Fedurek also spent over 10 years at White & Case, first as an Associate between 2007 and 2016, and later as Counsel, in 2017.

Kwasniewski, with expertise in capital markets and banking/finance, first joined SSW Pragmatic Solutions as an Intern in 2015. Subsequently, he advanced to the roles of Junior Associate in 2016, Associate in 2017, and Senior Associate in 2019. Kwasniewski became Counsel at the firm in 2021 and has been a Partner since January 2023.

Specializing in corporate/M&A, Solarz has also spent over 10 years at SSW Pragmatic Solutions, where she first joined as a Legal Assistant in 2013. She was later promoted to Junior Associate, Associate, and Senior Associate, in 2013, 2015, and 2017, respectively. Solarz later assumed the role of Counsel in 2018, and a Partner in 2019. Before joining the firm, she was an Intern at Domanski Zakrzewski Palinka in 2011 and 2012.

Szczudlik, who specializes in TMT/IP, joined SSW Pragmatic Solutions in 2020 as a Partner. Between 2018 and 2020, she was an Associate with Wardynski & Partners, while simultaneously holding the position of Partner at her Fornalik Law firm. Earlier still, Szczudlik was an Associate at Dentons from 2013-2017.

Czaprowski, also focusing on corporate/M&A, joined SSW Pragmatic Solutions in February 2023. Earlier, he spent over six years at Allen & Overy, as a Senior Associate between 2016 and 2022, and later as a Counsel in 2022. Between 2015-2016, Czaprowski was a Legal Advisor at Krassowski. Between 2007 and 2015, Czaprowski was with Allen & Overy first as a Lawyer, and later as a Legal Advisor. He was a Legal Assitant at Soltysinski Kawecki & Szlezak from 2004 to 2007.

“The expansion of the Polish team reflects the rapidly increasing market opportunities and economic developments,” Schoenherr Managing Partner Alexander Popp commented. “We warmly welcome our new colleagues!”

“Outbound investments from Poland into Central Eastern Europe, led by strategic investors and local private equity houses, will continue to grow,” Schoenherr Warsaw Managing Partner Pawel Halwa added. “I am extremely proud of what our team has built over the past 15 years, and we all are very much looking forward to starting the next chapter together with our new colleagues.”

“Joining Schoenherr will open up exciting new opportunities. No other firm has an equally strong position across CEE,” Okon and Chyb said. “We share the same values and ambitions, it is a great fit!”

Wolf Theiss has advised the INVL Baltic Sea Growth Fund and Eco Baltia on the financing from mBank for the acquisition of a 70% stake in the Polish PVC window recycler Metal-Plast.

The INVL Baltic Sea Growth Fund is a private equity fund in the Baltics. Its portfolio company Eco Baltia is, according to Wolf Theiss, the largest waste management and recycling group in the Baltics.

According to the firm, the deal involved multi-million term and revolving facilities made available by mBank.

“Metal-Plast represents the eighth portfolio investment of the INVL Baltic Sea Growth Fund. The circular economy remains one of our core investment pillars and we are delighted to again partner with one of the most successful portfolio companies to date in Eco Baltia […] to further drive Metal-Plast’s exciting growth journey,” INVL Baltic Sea Growth Fund Partner Vytautas Plunksnis commented.

The actual purchase by the INVL Baltic Sea Growth Fund and Eco Baltia of a 70% stake in Metal-Plast was announced a few months earlier (as reported by CEE Legal Matters on September 13, 2023).

The Wolf Theiss team was led by Counsel Adrian Krzyzanowski and included Partner Przemek Kozdoj and Associate Maria Markowska.

Wolf Theiss did not respond to our inquiry on the matter.

Editor’s Note: After this article was published, CMS announced it had advised mBank on the loan facility. The firm’s team included Partner Kuba Wieczorek, Senior Associate Roksana Pietrzak, and Lawyer Marta Swiderska.