Home / Expertise / Private Equity
Chart

Private Equity

Poland

The significant level of capital committed to the private equity sector, coupled with the availability of debt, has had a significant effect on pricing levels and competition for assets. Your priority is to have a cohesive strategy in place to ensure that you acquire the right assets and obtain maximum value from your portfolio.

CMS boasts an integrated international group of private equity lawyers across Central and Eastern Europe (CEE) able to provide a comprehensive offering to private equity funds. They assist clients through all stages of a fund’s life – from fund formation and administration to actual investments, portfolio monitoring, and exits.

Having advised on the first ever leveraged buyouts in CEE region, our private equity team has been a market leader for many years, advising on some of the largest acquisitions and exits in the region. Private equity funds and financial institutions look to CMS for our ability to mobilise large international specialist teams in a seamless and coordinated manner. Our team has a long-standing and close relationship with the private equity industry in CEE and around the world.

You benefit from uniquely connected lawyers (both internationally and in their respective local markets) providing clients with access to the latest market information and opportunities as well as helpful introductions to industry contacts. With anti-trust, tax, employment, banking, commercial and disputes expertise, we can also assist in the protection and growth of your funds and investments. Whether your deal is in the upper or mid private equity or venture market, our specialist lawyers can guide you towards the best business outcome in your home markets and across multiple jurisdictions.

Understanding the industries in which our clients transact is crucial when it comes to providing effective commercial and legal advice. We are organised along industry sector lines, and our CEE private equity team has particularly strong experience in consumer products, life sciences and healthcare, infrastructure, financial institutions and services, energy and utilities, technology, media and communications and real estate transactions. The strength and depth of our sector focus allows us to understand the specific issues and challenges for a transaction in any given sector and provide you with advice within that context so that we can pinpoint the real commercial risks you are facing.

We have a very strong Polish reputation for advising private equity investors. As the market leader by volume of transactions closed annually, we specialise in the leading sectors, including retail, lifesciences & food, new technologies and real estate. 

Read more Read less
High­lights of our ex­per­i­ence in Private Equity in Po­land
CVC Cap­it­al Part­ners on the ap­prox. EUR 477m ac­quis­i­tion of state-owned PKP En­er­getyka, con­sidered one of the biggest private equity trans­ac­tions in Po­land ever and the first in­vest­ment of CVC in Po­lan­dRiver­side on the pur­chase of Fadata AD, an IT co

Feed

Show only
3 August 2020
CMS Po­land strengthens trans­ac­tions prac­tice with five-law­yer team ad­vising...
CMS Po­land strengthens trans­ac­tions prac­tice with five-law­yer team ad­vising private equity funds. Find out more
22 January 2018
In­nov­ate or your deal could die
Any com­pany or law­yer that has ever been in­volved in any kind of mer­ger or ac­quis­i­tion trans­ac­tion will know one thing for sure – a deal typ­ic­ally in­volve hours of leg­al work, in­clud­ing of­ten mundane, b...
1 July 2020
Sign­ing with e-sig­na­ture in CEE
This guide fo­cuses on the most im­port­ant leg­al areas where elec­tron­ic sig­na­tures are usu­ally used: em­ploy­ment law, com­mer­cial con­tracts, real es­tate law, cor­por­ate law and bank­ing and fin­ance con­tracts. This guide ad­di­tion­ally in­cludes help­ful at-a-glance
10 May 2017
CMS Pub­lic Pro­cure­ment For­um
We are pleased to in­vite you to the CMS Pub­lic Pro­cure­ment For­um that will be held at the Busi­ness Centre Club in Warsaw, on 24 May 2017. The event will dis­cuss re­cent trends and de­vel­op­ments in the...
21 January 2020
Emer­ging Europe M&A Re­port 2019/2020
Re­gard­ing M&A deal activ­ity in emer­ging Europe, 2019 seems to have been a year of mixed sen­ti­ments. While both the over­all value and volume of M&A deals in the re­gion were down year-on-year, many M&A pro­fes­sion­als claim an­ec­dot­ally that it was a more buoy­ant year than the pre­vi­ous one. There are also pre­dic­tions that in­vest­ment activ­ity in emer­ging Europe will  in­crease even fur­ther in the next 12 months. 2019 M&A deal volume was the low­est in the dec­ade, with only 1958 trans­ac­tions on re­cord (down 6.5%), with a com­bined value of EUR 72.34bn (down 10.1%). However, look­ing at the five-year av­er­age, the re­gion re­mains re­l­at­ively stable and, if 2019 was not much more than a “rough” patch, as some mar­ket com­ment­at­ors have sug­ges­ted, there is little reas­on for con­cern.The 2020 edi­tion of the emer­ging Europe M&A Re­port takes a closer look at some of the key drivers be­hind cur­rent deal mak­ing: which mar­kets have been par­tic­u­larly hot, which sec­tors gen­er­ate most the op­por­tun­it­ies, and where in­vest­ments are ori­gin­at­ing. On a coun­try-by-coun­try basis there are nu­mer­ous pos­it­ive signs. The re­gion’s largest mar­kets, Rus­sia and Tur­key, pro­duced an al­most sim­il­ar num­ber of deals as in 2018, while both Ukraine and Ro­mania saw a sub­stan­tial up­tick in activ­ity. In some of the more ma­ture mar­kets in the re­gion where deal volume de­clined, mainly the Czech Re­pub­lic and Po­land, over­all deal value was up com­pared to 2018, in­dic­at­ing a growth in av­er­age deal size. Des­pite a drop in trans­ac­tions, real es­tate and con­struc­tion main­tained its top spot by both volume and value. De­mand for lo­gist­ic centres and ware­houses in­creased rap­idly, par­tially driv­en by a need for dis­tri­bu­tion and re­turn centres for on­line re­tail­ers. In­terest in com­mer­cial real es­tate came from a healthy mix of in­vestors in­clud­ing Ger­man open-ended funds, glob­al in­fra­struc­ture and real es­tate in­vestors, sov­er­eign wealth funds, loc­al in­vestors and in­creas­ingly South Korean pen­sion funds. An­oth­er con­stant has been private equity. Suc­ces­sion, cor­por­ate carve-outs and sec­ond­ary sales con­tin­ue to provide fer­tile grounds for in­vest­ment. Re­gion­al funds have seen re­cord levels of fun­drais­ing in re­cent years and the re­gion re­mains on the radar for glob­al funds com­pet­ing at the top-end of the mar­ket for new in­vest­ments and bolt-on ac­quis­i­tions. In fact, most of the re­gion’s top 20 deals out­side Rus­sia in­volved non-stra­tegic buy­ers. With valu­ations ex­pec­ted to be­come more real­ist­ic, plenty of funds avail­able to be de­ployed and some size­able dis­pos­als in the pipeline, private equity activ­ity in the re­gion is set to con­tin­ue on its up­ward trend.  Tele­coms & IT has taken over from man­u­fac­tur­ing as the second busiest sec­tor be­hind real es­tate. Sev­en of the top 20 deals in 2019 took place in the sec­tor, but activ­ity was not lim­ited to mega deals. In ad­di­tion to ven­ture cap­it­al funds, ded­ic­ated vehicles es­tab­lished by cor­por­ates were scout­ing the re­gion in search for start-ups with new tech­no­lo­gies or mar­ket share. In­vest­ment from Asia seems to have di­ver­si­fied, both in terms of ori­gin­a­tion and as­sets ac­quired. Al­though not yet on a par with China or Ja­pan, South Korean and Singa­pore in­vest­ment is rap­idly in­creas­ing with in­vestors from those coun­tries par­tic­u­larly vis­ible in com­mer­cial real es­tate deals. In­vest­ment from Asia now makes up one-sixth of total trans­ac­tion value. Mar­ket pres­sures and com­pet­i­tion from new play­ers are lead­ing to an in­crease in busi­ness trans­form­a­tions and cor­por­ate re­struc­tur­ings, in­clud­ing the dis­pos­al of non-core as­sets. A re­view of for­eign par­ti­cip­a­tions is lead­ing to op­por­tun­it­ies across a num­ber of in­dus­tries in­clud­ing en­ergy, the fin­an­cial sec­tor, tele­com­mu­nic­a­tion and phar­ma­ceut­ic­als.  Com­pared to west­ern Europe, GDP growth in the re­gion is pre­dic­ated to re­main above the European av­er­age and in­creas­ing loc­al con­sumer de­mand should to an ex­tent com­pensate for the ef­fects of a slow-down in some of emer­ging Europe’s main ex­port mar­kets. The slight de­cline in deal activ­ity can po­ten­tially be ex­plained by sev­er­al pro­trac­ted or abor­ted deals which res­ul­ted from a com­bin­a­tion of dis­ap­point­ing per­form­ance or out­dated busi­ness mod­els by the tar­get as­set (from the buy­er’s per­spect­ive) or un­sat­is­fact­ory valu­ations (from the seller’s per­spect­ive). As mul­tiples ap­pear to be gradu­ally com­ing down, busi­ness own­ers look­ing to sell in the short to mid-term are per­haps likely to do so soon­er than later. Over the next year, emer­ging Europe will live up to its repu­ta­tion as a stable pro­vider of in­vest­ment op­por­tun­it­ies, par­tic­u­larly in M&A. With a healthy pipeline, 2020 will show that the re­gion is not run­ning out of steam just yet.
20 November 2019
CMS ad­vises CEE Equity Part­ners on rail trans­port trans­ac­tion
CMS has ad­vised CEE Equity Part­ners, a PE fund, on the ac­quis­i­tion of a ma­jor­ity stake in EuroW­ag­on Sp. z o.o. by China Cent­ral and East­ern Europe In­vest­ment Co-op­er­a­tion Fund II. Read more here.
28 October 2019
CMS ad­vises OAS­IS on ex­pand­ing in­to the CEE re­gion
The CMS has ad­vised OAS­IS Group, one of the largest Re­cords and In­form­a­tion Man­age­ment pro­viders in Europe, owned by Montagu Private Equity fund, on the ac­quis­i­tion of 100% of the shares in Archidoc S.A. ArchiDoc was ac­quired from OEX S.A., a Warsaw Stock
31 May 2019
CMS wins Leg­al Ad­visor of the Year on the trans­ac­tion mar­ket in Po­land
9 October 2018
CMS ad­vises Mid Europa Part­ners on ex­it­ing its in­vest­ment in PKL S.A.
11 July 2018
CMS ad­vises on trans­ac­tions re­lated to the IT ser­vices mar­ket
CMS is ad­vising Sol­id Brain sp. z o.o. and its share­hold­ers on the sale of a ma­jor­ity stake of shares to IT Kon­trakt sp. z o.o - Find out more.
09 January 2018
CMS is num­ber one for M&A in Po­land and Cent­ral and East­ern Europe
27 October 2017
CMS works for Coast2Coast on the ac­quis­i­tion of Profi
CMS ad­vises Coast2Coast, a private in­vest­ment fund, on the ac­quis­i­tion of a man­u­fac­turer of pâtés and soups op­er­at­ing un­der the Profi brand – Wielko­pol­ska Wyt­wór­nia Ży­wności Profi. The clos­ing of the deal is sub­ject to clear­ance by the Of­fice of Com­pet­iti