Advising on private equity (PE) and venture capital (VC) fund transactions is a key part of our M&A specialization .

We are the legal leaders of the PE/VC market in Poland, as evidenced in particular by the accolades of the Polish Private Equity and Venture Capital Association (PSIK) granted to us as private equity law firm of the year for three years in a row (2020, 2021 and 2022).

We advise on all types of transactions in the PE/VC market, including buyouts and expansion / growth capital transactions, in all phases of enterprise development – from seed capital or start-up transactions to investments in developed and large companies, including public companies (PIPE investments).

We also provide legal assistance in structuring and conducting leveraged buyouts (LBOs), advising on raising or providing debt in the form of a bank loan as well as mezzanine financing. We advise on institution of incentive programmes for managers.

We advise on exit transactions – whether through a sale to an industry investor or financial investor, or through a company’s IPO.

We also advise, both from the legal (including regulatory) and tax perspectives, on the structuring and formation of PE/VC funds (fund formation).

  • Capital raising
  • Structuring and buy-outs
  • Business consultancy

The basic principle that unites our team is to build relationships based on respect and trust.

We have been advising entrepreneurs for 30 years, so we understand the nature of business and how to properly support it. We focus on efficiency, transparency and partnership.

Private Equity

Maciej Kożuchowski

Partner
Attorney-at-law

Maciej Kożuchowski
Private Equity

Karol Sokół

Partner
Advocate

Karol Sokół
Private Equity

Małgorzata Badowska

Partner
Attorney-at-law

Małgorzata Badowska
Private Equity

Karolina Krzal-Kwiatkowska

Managing Associate
Attorney-at-law

Karolina Krzal-Kwiatkowska
Private Equity

Aleksandra Szyszko-Kamińska

Managing Associate
Attorney-at-law

Aleksandra Szyszko-Kamińska
Monika Żulińska

Monika Żulińska

Managing Associate
Attorney-at-law

Monika Żulińska
Private Equity

Bartłomiej Woźniak PhD

Managing Associate
Advocate

Bartłomiej Woźniak PhD
Private Equity

Michał Osowski

Managing Associate
Attorney-at-law

Michał Osowski
Private Equity

Klaudia Krawiec-Guz

Counsel
Attorney-at-law

Klaudia Krawiec-Guz
Private Equity

Katarzyna Olszak

Senior Associate
Attorney-at-law

Katarzyna Olszak
Private Equity

Diana Strzałkowska-Grad

Senior Associate
Attorney-at-law

Diana Strzałkowska-Grad
Private Equity

Edyta Podgórska

Managing Associate
Attorney-at-law

Edyta Podgórska
Private Equity

Marcin Walczak

Associate
Attorney-at-law

Marcin Walczak
Private Equity

Karolina Sobóla

Associate
Advocate

Karolina Sobóla
Private Equity

Rafał Smolik

Senior Associate
Attorney-at-law

Rafał Smolik
Private Equity

Katarzyna Zarzycka

Senior Associate
Advocate

Katarzyna Zarzycka
Private Equity

Experience

2025

  • Advised the selling shareholders on the disposal of six Centrum Diagnostyczno-Lecznicze Barska medical facilities to the Unity Care network, backed by the private equity fund Enterprise Investors
  • Advised the owners of DomData on the sale of a 65% equity stake to Kulczyk Investments, a private investment firm owned by Sebastian Kulczyk

2023

  • Enterprise Investors fund’s investment in Bisar S.A. (Transaction value: PLN 125 million)
  • BNP Paribas Bank Poland’s investment in the High Perch Group
  • Buyout of shares in Polska Grupa Biogazowa S.A. from PFR and their sale to TotalEnergies Group
  • Sale of a majority stake in Hymon Fotowoltaika sp. z o.o. to a consortium of Kajima Partnership Europe and Griffin Capital Partners

2022

  • Lux Med Group’s investment in Mediss Dental Clinic
  • Selsey’s acquisition of an investment from Wirtualna Polska Media S.A.
  • Investment by Inplus sp. z o.o., a portfolio company of Accession Capital Partners, in Smart Factor sp. z o.o.
  • Sale of Famed Żywiec sp. z o.o. by PE fund EMSA Capital
  • BNP Paribas Bank Polska’s investment in Autenti
  • Klima Energy Transition’s (Alantra Group) investment in Sunroof Technology
  • Famur S.A. and DC24 ASI’s investment in Impact Clean Power Technology
  • DC24 ASI’s investment in Syntoil S.A.

2021

  • Accession Capital Partners fund’s investment in Inplus-Cenatorium
  • Resource Partners fund’s investment in Buglo Play
  • Acquisition of 100% of Skyrise.Tech shares by Finnish public company Etteplan Oyj
  • Avallon‘s sale of a majority stake in EBS
  • Avallon‘s sale of a majority stake in MPS International
  • BaseLinker’s acquisition of investment from Kulczyk Investments
  • Sale of a stake in VirtusLab sp. z o.o. to Aquiline Capital Partners LLC
  • Inovo Venture Partners’ investment in Sunroof Technology

2020

  • Sale of JARS S.A. to GBA Group
  • Increased involvement of the Enterprise Investors fund in Anwim S.A., operator of MOYA gas stations
  • Investment by Anwim S.A., a portfolio company of the Enterprise Investors fund, in the eMila chain of unmanned gas stations
  • Sale of MotionVFX business to Nextline (first transaction in Poland involving search funds, a management buyout entity with the support of global investors)
  • Granting of financing in the amount of PLN 110 million for investments in photovoltaic farm projects between DC24 ASI and Columbus Energy S.A.
  • Sale of shares of R2G Polska sp. z o. o., operating under the Apaczka brand, to Abris Capital Partners Ltd. fund
  • Sale of shares in MBL Group by Mezzanine Management fund to INVL Baltic Sea Growth Fund
  • Investment by Luxembourg-based btov Partners fund in Neptune Labs company
  • Sunfish Partners’ investment in Aether Biomedical
  • Investment by SMOK Ventures, InnoEnergy and LT Capital in Sunroof Technology
  • Sale of a stake in XTRF Systems S.A. by Experior Venture Fund
  • Black Forest Fund’s investment in ExploRNA
  • Sale of majority stake in Akomex Group by Highlander Partners fund
  • Acquisition of a majority stake in Clovin S.A. by the Avallon fund
  • Investment in Corab by the Black Forest fund
  • Enterprise Investors fund’s sale of shares in Danwood S.A. to Korean firm GS Engineering & Construction (value of transaction: €140 million)
  • Market One Capital’s investment in SonarHome

2019

  • Sale of a stake in PayPro S.A. (operator of Przelewy24) to Nets Denmark a.s. (a portfolio company of Hellman & Friedman, Advent International and Bain Capital)
  • Acquisition of 100% of Platinum Wines sp. z o.o. by Jantoń, a portfolio company of the Enterprise Investors fund
  • Repurchase of H88 shares from 3TS Capital Partners fund
  • Leveraged management buyout of Krosno Glass S.A. with CVI fund participation
  • Enterprise Investors fund’s sale of 100% of 3S S.A. shares to Play (value of the transaction: PLN 410 million)
  • Sale of ArchiDoc S.A. by OEX S.A. to Offsite Archive Storage & Integrated Services (OASIS) (transaction value: PLN 65 million)
  • Black Forest fund’s investment in Tikrow company
  • BNP Paribas Bank Polska‘s investment in Dafo Plastics S.A.
  • VC fund Sunfish Partners’ investment in Molecule One
  • BNP Paribas Bank Poland’s investment in Asprod company
  • Inovo Venture Partners’ investment in the company Tidio Poland
  • Raising funding for start-up SonarHome

2018

  • Enterprise Investors fund’s investment in a significant minority stake in Anwim S.A., operator of MOYA gas stations
  • Finch Capital’s investment in PerfOps
  • BNP Paribas Bank Polska’s investment in JARS sp. z o.o.
  • Sale of shares in Profim to Flokk Group by way of share exchange
  • Acquisition of a majority stake in Golpasz S.A. by the Resource Partners fund
  • BNP Paribas Bank Polska’s investment in PG Energetyka and indirectly in Elektromontaż Poznań S.A.
  • Leveraged management buyout of Exact Systems S.A with participation of CVI fund
  • Sale of majority stake in Velvet Care sp. z o.o. by Avallon fund to Abris Capital Partners fund
  • Sale of shares in Kuźnia Jawor S.A. by the First Private Equity FIZAN fund

2017

  • Bounty Brands’ investment in the company Bezgluten
  • Mezzanine Management fund’s investment in Nettle S.A.
  • Enterprise Investors fund’s investment in Jantoń
  • Enterprise Investors fund’s sale of shares in Harper Hygienics S.A., a public company listed on the WSE, to Latvian firm iCotton SIA
  • Sale of majority stake in Inelo Poland and OCRK Poland to Innova Capital fund
  • Investment of BNP Paribas Bank Polska TLC Group
  • Resource Partners fund’s sale of Melvit stake to Polfood Group
  • Sale of majority stake in Profim to Innova Capital fund
  • Sale of shares in companies controlling MILA chain of stores to Eurocash (transaction value: PLN 350 million)
  • Sale by the Krokus PE fund of 100% of Comfort S.A. shares to the Goldbeck group
  • Polish Development Fund’s investment in H. Cegielski – Poznañ
  • Highlander Partners fund’s investment in Rotometal
  • Sale of a 32.99% stake in Skarbiec Holding, a public company listed on the WSE, by the Enterprise Investors fund
  • Sale of a stake in the Avia Prime group (Linetech and Adria Airways Tehnika d.d.) to the Hartenberg Holding fund
  • Acquisition of a majority stake in EBS by the Avallon fund
  • Sale by the Krokus PE fund of a stake in Catermed S.A. to Naprzód S.A.

Older

  • Sale by the Highlander Partners fund of 100% of the shares of ProService Agent Transferowy sp. z o.o. to funds managed by Oaktree European Principal Group and Cornerstone Partners
  • Sale by the Highlander Partners fund of 100% of the shares in ZREW Transformatory S.A. to Rauscher & Stoecklin International Holding
  • Mezzanine Management fund’s investment in DP Poland plc
  • Acquisition by H88 and its shareholders of an investment from the 3TS Capital Partners fund
  • Mezzanine Management fund’s investment in MBL company
  • Ponar Silesia S.A. group’s acquisition of an investment from BNP Paribas Bank Poland
  • Mezzanine Management fund’s investment in Private Equity Managers S.A.
  • Acquisition of a 60% stake in food company QFG by Highlander Partners fund
  • Sale of Gemini Pharmacy Group shares to Warburg Pincus fund
  • Avallon fund’s investment in the company EMERSON Direct Communication
  • Enterprise Investors fund’s investment in 3S S.A. (Transaction value: PLN 86 million)
  • Sale by the Enterprise Investors fund of 100% of shares in GAMET S.A. to Stalmot & Wolmet S.A.
  • Acquisition of DRUK-PAK by AKOMEX, a company backed by the Highlander Partners fund

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GESSEL advised on the sale of a majority stake in Betasi to Spire Capital Partners

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GESSEL advised on the sale of a majority stake in Betasi to Spire Capital Partners

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GESSEL advised on the sale of Centrum Diagnostyczno Lecznicze Barska to Unity Care

GESSEL advised the selling shareholders on the sale of Centrum Diagnostyczno Lecznicze Barska sp. z o.o., a privately owned healthcare provider, to Unity Care sp. z o.o....

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GESSEL advised on the sale of Centrum Diagnostyczno Lecznicze Barska to Unity Care

08.10.2025

GESSEL advised on the sale of KARTON-PAK to Pella Capital

GESSEL provided legal and tax advice to the owners of KARTON-PAK S.A. on the sale of 100% of the company’s shares to Pella Capital sp. z o.o. The project involved a bro...

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14.04.2025

GESSEL advised on the sale of shares in Ela Wyrób Folii i Opakowań to TEP Capital

GESSEL law firm advised the shareholders of Ela Wyrób Folii i Opakowań sp. z o.o. (the “Company”), a Polish manufacturer of films and packaging with over 40 years of exp...

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GESSEL advised on the sale of shares in Ela Wyrób Folii i Opakowań to TEP Capital

10.04.2025

GESSEL advised BNP Paribas Bank Polska on co-investment in the leveraged buyout of Medical Mazella

As a trusted legal advisor supporting clients in key investment transactions, we had the honor of advising BNP Paribas Bank Polska S.A. on a co-investment, as part of th...

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GESSEL advised BNP Paribas Bank Polska on co-investment in the leveraged buyout of Medical Mazella
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