Poland

Reviews

Practice area

IFLR1000 Reviews

Overview

Solicitors governing body: Krajowa Izba Radców Prawnych (National Council of Legal Advisors)

Competition authority: Office of Competition and Consumer Protection

Financial regulator: Polish Financial Supervision Authority

IFLR1000 ranking categories for this jurisdiction: 

Banking, Capital markets : Debt, Capital markets : Equity, M&A, Project developmentProject finance 

Jurisdiction overview

Poland is a civil law jurisdiction backed by the country’s constitution. The two primary groups in the Polish legal market are adwokat (advocate) and radca prawny (legal adviser). Radca prawny is the equivalent of a solicitor as they don’t handle criminal matters.

As a member of the EU, the country abides by the freedom of movement regulations for lawyers from the EU and EEA. In general foreign lawyers can practice their home country and international law and EU lawyers do have the option of requalifying as a Polish lawyer.

There are few restrictions on foreign firms practising and there is no licensing regime except the requirement to register with the local bar.

The market has a number of international firms present, most being the Polish offices of UK or US firms. Those firms tend to employ Polish or dual qualified lawyers with the occasional foreign lawyer employed to coordinate cross border matters. 

The market’s domestic firms are in general larger operations by headcount and dominate the market in areas such as regulatory and licensing work.

Financial and corporate lawyers in Poland can often cover a range of work and will handle matters across the corporate finance or M&A areas, however the market is becoming increasingly specialised with lawyers dedicating more time to one or two specialisms.

Financial and corporate
Allen & Overy A Pędzich

Allen & Overy A Pędzich has one of the leading finance practices in Poland and has a strong banking and debt capital markets offering. Its English law capabilities also make it a go-to firm for transactions governed by this jurisdiction’s law. 

The firm's banking team has a wide range of expertise across acquisition finance, debt restructuring, project finance and refinancing transactions. Strong on the lender side, it advises a mix of local and international banks, financial institutions and alternative lenders across energy, real estate and financial services sectors among others. 

Its project finance work is often related to renewable power plants developments where it advises international financial institutions and banks as lenders and sponsors. It is also strong on the borrower side mandates advising real estate funds, private equity firms and corporations on mid to large-scale financing. 

Its working relationship with banks extends to debt capital markets work. Working as issuer or arranger side counsel, the firm advises on bond issues under Polish and English law. The firm has experience advising on green, euro, sovereign/treasury and covered bonds, and the establishment of EMTN programmes. 

In M&A the firm's banking sector expertise is obvious again and it is often the recurring name on the buy or sell side of banking consolidation in the market. It is strong in both domestic and cross border transactions and has sector capabilities that go beyond banking and include private equity, real estate, entertainment and telecoms sector. 

During the research period the firm's energy lawyer Kamil Jankielewicz stepped down from his role as counsel to operate as the firm's legal consultant instead.

Recent Deal Data highlights

•Banco Santander $325 million acquisition of Deutsche Bank

•BRUA gas corridor

•Griffin Real Estate and Redefine Properties €200 million acquisition of Panattoni Europe logistic portfolio

•Heineken’s Grupa Żywiec $131.6 million acquisition of Browar Namysłów

•Inpost €125 million financing

•PKO Bank Hipoteczny €1 billion international mortgage covered bond programme

•Republic of Poland €1 million sovereign green bond issue

•Santander €5 billion EMTN programme

Client feedback

"Very good, very responsive and understand the needs of their client." – Banking

"I am satisfied with the legal services provided by A&O. Therefore, my assessment is very positive. I regard A&O as one of the best law firms on the Polish market in terms of the debt capital market and banking." – Capital markets: debt

"Deep expertise and experience in the sector, high level of reliability and accessibility; they give the client comfort by being in control over the whole process, and bring the positive and constructive atmosphere in the transaction." – Capital markets: debt

"Projects-oriented, good industry knowledge, highly helpful during negotiations and provides innovative ideas." – Project finance

Baker McKenzie Krzyzowski

Baker McKenzie Krzyzowski has a balanced practice offering services across the board on a mix of domestic and cross border transactions.

In the banking space the firm has a wide range of capabilities, typically advising domestic banks on the financing of acquisitions, projects and real estate developments involving foreign investors. In the project space the firm is active in PPP waste to energy projects, advising contractors on the development and financing of such projects. One of its ongoing mandates is for a foreign sponsor and project company on the development and financing of Potęgowo wind farm. 

Its finance team also includes a capital markets practice and the team advises arrangers, underwriters, offering agents and issuers on bonds issued by European entities and domestic banks under Polish law. In the equity space it advises on IPOs, listings and delistings from stock exchanges. 

The firm often advises on public M&A advising listed CEE entities on takeover bids and tender offers. The firm's recent private M&A transactions include both local and cross border acquisitions, divestments, sales and joint ventures across several sectors including real estate, automotive, food and beverages. Traditionally it advises European corporations and private equity firms, however, it works for American clients too.

During the research period the firm strengthened its corporate practice by recruiting DLA Piper lawyer Magdalena Nasiłowska as partner. 

Recent Deal Data highlights

•ALSO Holding and MCI Euroventures takeover offer for ABC Data

•Carlyle Group acquisition of Wilson & Brown in Poland

•Flex Films Europa €60 million financing

•Magna International €230 million acquisition of OLSA Group

•Mekonomen €395 million acquisition of FTZ and Inter-Team

•PKN Orlen €1 billion acquisition of Unipetrol

•Plus Bank PLN85 million bond issue programme

•Poznań waste incineration plant PPP

Client feedback

"For over a decade we have issued several dozen of bonds' series, with total value exceeding two billion zlotys. We have been working on these projects with Baker McKenzie from the beginning. Over the years, we have created a relationship built on trust and experience. The lawyers are reliable." – Capital markets: debt

"Great knowledge and client management and outstanding client relationship led by key partner involved." – M&A 

"Pragmatic, proactive approach and broad experience in the field of capital markets." – M&A

Bird & Bird Szepietowski & Partners

The polish branch of global firm Bird & Bird is active in finance, M&A and project development, particularly in the energy sector. 

During the research period in banking and finance the firm advised lenders on credit facilities. It took on multiple regulatory compliance roles and advised on MiFID II and Payment Services Directive II. 

In project development the firm was active in the real estate and energy sectors, advising on acquisitions, lease agreements, regulatory compliance, due diligence, and PV project construction.

Aleksandra Widziewicz joined the firm as banking and finance of counsel from G-Rock. The firm’s banking and finance Counsel Jakub Ziemba left the firm to join Allianz Group. 

Recent Deal Data highlights

•Baltic Pipeline

•E-Energija heating facility

•Sun Investment Group solar photovoltaic power plants

•Sun Investment Group / E-Energija €42 million acquisition of portfolio of 43 solar photovoltaic power plants

Client feedback

"All assigned lawyers are experienced, always professional, have a thorough understanding of client's needs and prepare all agreed deliverables on time." – Banking 

"Their work is good and there are no objections." – Banking 

"I appreciate working with B&B (especially with Slawomir Szepietowski and Jakub Ruiz) for their extensive legal knowledge on the matter, great interpersonal skills, client orientation and the ability to smoothly connect legal perspective with the business view." – Banking 

"Knowledge and experience of Bird&Bird in area of Payment Services Directive 2 supported by its cooperation with leaders on the Polish banking market is helping us to find the best solution and eliminate the legal and compliance risk." – Banking

"I am very pleased with the quality of their work. Their lawyers are client-oriented, goal-driven and well aware of the business needs. I am always impressed by the attention to detail and thorough knowledge of the transaction, which helps very much on achieving great results during negotiations." – M&A 

"Very professional approach to the process and co-operation. Deep M&A knowledge and experience of Rafal Dziedzic and his team was a key asset in negotiations of two complex and non-standard deals." – M&A 

 "The energy team is very strong and competent in the renewable energy sector in Poland. They are quick to response, have excellent knowledge of the market and are very proactive. Overall I am very pleased with their performance." – Project development

BSJP Brockhuis Jurczak Prusak Sroka Nilsson

BSJP Brockhuis Jurczak Prusak Sroka Nilsson is active in M&A and project development.

During the research period in M&A the firm advised on cross-border mergers and takeovers, with work for buyers and sellers, and was active in the renewable energy sector.

In banking and project finance the firm advised on financing and refinancing of multiple real estate acquisitions. 

Ewa Boryczko joined the firm as a corporate and M&A partner from BMSP Boryczko Malinowska i Partnerzy Adwokaci i Radcowie Prawni. 

Recent deal data highlights

•Stadtwerke München €30 million acquisition of WKN Jasna 130MW wind farm 

Client feedback

"They understand the legal needs of German banks and speak German. They are organised most efficiently so that responsiveness both as regards legal advice and administrative issues are always prompt." – Banking 

"Primary contact person at BSJP is Dr Katarzyna Domanska-Moldawa, partner in the banking and finance department. She has an overwhelming knowledge of the Polish banking and real estate law. Further strength is the extraordinary diligence applied in drafting of the finance documents and their commercial knowledge." – Banking 

CDZ - Chajec Don-Siemion & Zyto

CDZ legal advisors is a financial and corporate law firm that is active across banking and finance, M&A and capital markets practice areas.

In banking and finance the firm advises investment companies on acquisition and real estate development finance. During the research period it also picked up solitary regulatory advice work on behalf of a German bank.

In capital markets work the firm advised a consultancy firm on its private bond issue.

In M&A the firm advises investment and private equity funds on acquisitions in the Polish market across several sectors. During the research period it was particularly active on the IT and technology sector.  

Recent Deal Data highlights

•CP Closed Investment Fund / Capital Partners Investment I Closed Investment Fund sale of Symbio Polska

•Nevu acquisition of Eubioco

•ProService Finteco acquisition of makeitright

•IT Kontrakt acquisition of Solid Brain

Client feedback

"Very flexible and easy access to partner." – Banking

"Strengths include providing professional services, quick responses and wide range of services." – M&A

Szymon Skiendzielewski

"Very experienced and flexible"

Eliza Szulc-Sierańska

"Amazing job and always ready to help. Very wide knowledge of the law"

Clifford Chance Janicka Krużewski Namiotkiewicz

Clifford Chance Janicka Krużewski Namiotkiewicz is one of the strongest firms in Poland. Highly respected for its work in finance, debt capital markets and M&A, the firm often acts on some of the largest deals in the country and the region.

In the banking space the firm is one of the strongest on the lender side of transactions. It often acts as counsels to leading Polish banks and international financial instructions on syndicated loans, project finance, credit facilitates, refinancing, and restructuring transactions in Poland and foreign jurisdictions. It’s equally active on the borrower side of mandates and the team often advises leading international private equity firms and funds and real estate developers on acquisition finance, real estate development and mezzanine financings. It is also active on the buy-side acquisitions of performing and non-performing loan portfolios. 

In project finance the firm is strong in energy sector work, often working on the lender side. However, it also has notable expertise in the financing and development of infrastructure projects in foreign countries. 

The finance team has a strong debt offering and often advises banks as issuers and arrangers on a mix of vanilla, hybrid, euro bond and green bond issues. It also often advises the banks on the country's treasury bond issues. 

The firm's corporate practice has a strong M&A expertise. The firm is active in both traditional M&A and private equity transactions. It has a sector-wide knowledge and acts on both buy and sell side of domestic and cross border transactions. 

Recent Deal Data highlights

•Apollo Global Management €800 million financing

•Bank Millennium PLN1.8 billion acquisition of Euro Bank

•Blackstone €600 million acquisition of Goodman Group European logistics portfolio

•Hoist Finance PLN400 million acquisition of GetBack non-performing portfolio

•IFM Global Infrastructure Fund, Polish Development Fund and PSA International acquisition DCT Gdańsk

•Integer €125 million financing

•Republic of Poland €2 billion dual tranche green bond issue

•Santander €5 billion EMTN programme

Client feedback

"Highly professional advices provided by professional team with cross-border services." – Banking

"Very satisfied with the support. Always available, knowledgeable, client-friendly and nery nice to interact with." – M&A

"Excellent substantive preparation and commitment, flexibility within the team to achieve goals, creative problem solving, resistance to stress and high negotiation skills." – M&A 

"Excellent service, high dedication and top quality of work." – M&A 

"Extremely high experience and negotiation skills." – M&A

"Excellent negotiations skills and exceptional experience in M&A deals." – M&A

"Highly professional and engaged." – M&A 

"The firm is focused on delivering timely high quality product. The lawyers have always business-practical approach." – M&A

"I am satisfied with the legal services provided by Clifford Chance. In my opinion, Clifford is one of the best law firms on the Polish market in terms of the M&A and capital markets practices." – M&A 

"Strengths include very thorough analysis of the case, preparation of several detailed documents, excellent communication across various stake-holders (management, banks, shareholders etc), as well as personal commitment to achieving successful results. Given the winning result, I cannot indicate any weakness." – Project finance

"High professionalism, knowledge of the topic, precision and speed in action and strong communication skills." – Project finance

CMS Cameron McKenna Nabarro Olswang Pośniak i Bejm

CMS in Poland has a strong project finance team. The firm has a strong presence in energy and infrastructure sector engaging in a mix of acquisitions, financing and development work. Renewed interest in the Polish renewable energy sector has brought in new clients for the firm. 

During the previous research period the firm had reshaped its project finance team by bringing in a new head of department from Clifford Chance. With further additions from Dentons, CMS became one of the leading figures in the area. The firm is very active in the financing of raod transport and social infrastructure PPPs, advising lenders and sponsors. 

In other banking work the firm regularly advises on syndicated loans and cross border financings. Acquisition financings, real estate and corporate financings are among the common transactions on which the firm advises domestic and international banks and financial institutions. It also represents borrowers including leading industry corporates and private equity firms on similar types of transactions.

Private companies and private equity firms mandate the firm on the acquisition, development and financing of renewable power plant portfolios. It also has strong client base in the oil and gas sector, advising the likes of state owned companies and large European gas companies on a mix of exploration projects and construction of offshore and onshore pipelines. 

The firm's corporate team has a strong M&A offering and often advises on a large volume of deals each year. The firm acts for some of the leading international private equity firms, domestic funds and large multinational and regional corporations on domestic and cross border acquisitions, sales and joint ventures across a wide range of sectors. The corporate team also handles work for publicly listed companies, advising them on tender offers, delistings and public offerings. It also has expertise on the issuer side of IPOs and SPOs on the Warsaw Stock Exchange. 

Recent Deal Data highlights

•A4 toll motorway

•Abris Capital Partners acquisition of ITP

•Baltic Gas

•Golub GetHouse and Mennica Polska €130 million financing

•Jaworzno 910MW power plant

•Kraków fast tram PPP

•Polimery Police project

•Polish Development Fund acquisition of Polskie Koleje Linowe

Client feedback

"CMS Poland did a very good job - solid drafting and negotiations skills. They were good at adjusting strategies as the transaction progressed and provided pragmatic and thoughtful advice." – M&A

"Deal and customer-oriented and straight forward." – M&A

"We were very pleased with the quality of support we received from CMS. Whether the issues was contract law, taxation, or HR, their lawyers and partners provided excellent guidance and support." – M&A 

"Very competent M&A and ECM team." – M&A

"CMS' branch in Poland excelled in their advice, commitment and expertise with regards to all matters concerning this PPP bid." – Project finance

Czabański Gałuszyński & Partners

Independent Polish firm Czabański Gałuszyński & Partners is active in banking and finance and M&A. 

In banking and finance the firm mainly represented lenders in the refinancing of capital groups. It also represented clients in project financing and debt portfolio sales.

During the research period the firm advised on both the buy and sell side of acquisitions. It also worked in capital investments.

Recent deal data highlights

•Grodno Group €18.5 million refinancing

•Groupe Beneteau acquisition of Delphia Yachts Kot

•Novotek Pharmaceuticals Pl15 million acquisition of optional action package in Bioton 

•Pamapol €23 million refinancing 

•PFR Ventures €16.5 million investment in Biomed Innovations

•Piast Group €30.1 million refinancing 

DeBenedetti Majewski Szcześniak

DeBenedetti Majewski Szcześniak is a boutique that advises its clients on corporate domestic and cross border transactions. 

During the research period the firm was active in the insurance sector advising Vienna insurance group on several acquisitions and mergers in Poland. 

Recent Deal Data highlights

•Vienna Insurance Group acquisition of Gothaer Towarzystwo Ubezpieczeń 

•Vienna Insurance Group acquisition of 50% in Towarzystwo Ubezpieczeń Wzajemnych

•Vienna Insurance Group acquisition of 50% in ITIS

Client feedback

"We have come across no problems during our cooperation with DeBenedetti Majewski Szcześniak. Their team of lawyers and legal counsels are of the highest class of specialists. The law office provides comprehensive customer service on commercial matters. They provide services tailored to each client. I highly recommend cooperation with the law firm." – M&A

Dariusz Szcześniak

"Cooperation with Dariusz Szcześniak is without any problems. I highly recommend cooperation with him on commercial and civil matters."  

Hab. Jarosław Majewski

"Cooperation with Prof. Dr Hab. Jarosław Majewski is without any problems. He provides comprehensive, long-term experience in business cases. I have no complaints on his contact, availability and cooperation."

Dentons Europe Dąbrowski & Partners

Dentons Europe Dąbrowski & Partners is one of the largest law firms in Poland. It is also among the strongest. Active across the board the firm's expertise lies in real estate and energy sector.

The firm's banking team is strongly active in real estate finance. Advisors to multinational banks, real estate developers and REITs, the firm acts on both the lender and borrower side of syndicated and bilateral loans. It typically advises on acquisition and construction financings and refinancings of retail and office portfolios. The team also acts on similar transactions in the energy sector. It is experienced on large domestic and cross border financing transactions. 

The firm's capital markets team suffered the departure of debt specialist and co-head Robert Dulewicz to Gide Loyrette Nouel in the beginning of 2019. This has limited the firm's debt work, however, its presence in the equity market remains strong. Work for issuers and shareholders on IPOs, SPOs, and delistings provided the bulk of recent equity work. 

In M&A, Dentons often leads large regional real estate and energy sector transactions. Foreign investors look to the firm to advise on entry into the sector via acquisitions. Elsewhere it is also active in the private equity space and often advises international private equity firms on large regional, global and domestic transactions. 

The firm's energy expertise extends to the projects space where it advises energy companies on renewable power plant developments in both Poland and foreign jurisdictions. The firm is also notably experienced advising on the PPP model and active in social infrastructure projects advising both the state and private entities. Public procurement is another strong offering of the projects team. It advises both foreign and domestic contractors on public procurement proceedings in the railway infrastructure and energy sector.

Recent Deal Data highlights

•AccorHotels €337 million tender offer for 33% in Orbis

•Auga Group secondary share offering

•Chariot Top Group €635 million acquisition financing

•Goldman Sachs and Revatas €450 million acquisition of Trigranit

•Mbank €3 billion EMTN programme

•Tramwaje Warszawskie 123 trams procurement

•Varso Place €350 million financing

•Warsaw National Stadium PPP 

Client feedback

"I am highly satisfied with Denton's performance in all recent deals. They provided excellent service and were able to close all deals in time. I appreciate their high degree of industry knowledge and experience. They are able to represent the bank's best interest, but never without keeping in mind our client's satisfaction." – Banking 

"The team showed a professional approach and high-end knowledge in the matters related to the project. Their dedication and fast response time as well as ability to solve problems and very good communication skills were part of the success of the project. Dentons team were professional in communication and focused on achieving and finalising particular goals. They understood our business needs and adjusted their work to our expectations and demanding environment." – Banking   

"Big team of lawyers and a professional banking team with high knowledge of banking law and real estate sector." Banking

"They gave us a very good service in reasonable budget." – Banking

"Work has been performed in a highly professional and time-efficient manner with business-orientated approach." – Banking

"I am highly satisfied with Dentons' service and my overall impression is very positive. The team working on the deals was well-organised and flexible." – Capital markets: equity

"Dentons team provides us with excellent services. This is definitely one of the leading capital markets teams on the market." – Capital markets: equity

"Dentons is capable of performing very complicated tasks in a very efficient manner. We can always count on their prompt support and competent advice. Their deep understanding of capital markets proves very useful in dealing with even the most complicated cases. On top of that, our relationship with Dentons has always been very close, thus facilitating greatly the understanding of our transactional needs. Dentons goes the extra mile and has never failed us in delivering top-notch quality of work." – Capital markets: equity

"Excellent legal knowledge, very pro-active and pro-client oriented, reasonable in negotiations, great attention to detail and speedy reactions." – M&A

"Professional and good industry knowledge." – M&A

"Excellent work - diligent, creative, problem solvers and business-oriented." – M&A

"Very high quality of service and fast response times." – M&A

"Core team working on the project was highly capable, knowledgeable, commercially-oriented, helpful and professional." – M&A

"Overall assessment is excellent. Their main strengths include prompt responses, commitment, and consideration for clients. They also have full scope view of the market, which is very helpful if you are not local." – M&A

"The cooperation was very professional. The team was very well prepared to provide comprehensive business and legal advice. They were very inventive and goal-oriented." – Project development

DLA Piper Giziński Kycia

DLA Piper Giziński Kycia is a full-service law firm that has established notable presence in the real estate market. 

Advising a mix of banks, real estate developers and private equity firms, the banking team is regularly engaged in real estate acquisition and development financing and refinancing transactions. It advises European Investment bank as lender under the Jessica initiative, providing loans to Polish banks to finance the SMEs in the jurisdiction.

Over the years the firm has also developed bank side expertise in securitisations and has recently gained financing experience in the fintech sector. 

In M&A the firm has a wide range sector experience including the real estate and energy sectors. Active on both the buy and sell side, the firm advises on a mix of domestic and cross border transactions. Clients often include leading Polish entities, regional players, multinational corporations and private equity firms. 

The corporate team handles equity capital market transactions space, It advises a mix of issuers, global coordinators and listed companies on IPOs, SPOs, tender offers, share capital increase and delisting mandates on the Warsaw Stock Exchange. 

In the projects space the firm is active in the energy sector, advising state-owned companies on investments in wind power plants in the country. The firm is also active in the infrastructure sector with particular expertise in transport projects.

During the research period country managing partner Krzysztof Wiater left the firm to establish his own practice, NGL Legal. He was joined by regulatory lawyer Maciej Wesołowski. Counsel Magdalena Nasiłowska also left the corporate team to join Baker McKenzie. Incoming was the new head of Energy Magdalena Mitas who joined from Magnusson.  

Recent Deal Data highlights

•Allegro acquisition of eBilet

•Apollo Global Management €800 million financing

•EPF €300 million acquisition of Galeria Katowicka

•Getin Nobel Bank PLN273 million loan agreements

•Globalworth €100 million refinancing

•Novaturas Warsaw Stock Exchange IPO

•RAFAKO €47 million secondary share offering

•Varso Place €350 million financing

Client feedback

"Banking team of DLA Piper is extremely experienced with a wide range of capabilities. Competent, responsive, flexible and available with reasonable cost budget." - Banking

"High value and quality of services." – Banking 

"DLA employs dedicated business-oriented lawyers with a very sensible and well balanced approach for very reasonable fees." – Banking 

"Highly dedicated, ready to meet tight deadlines, responsive and operational." – Banking

"Broad knowledge of capital markets practice." – Capital markets: equity

"DLA  team has become one of the few top tier corporate teams on the Polish market, if not the best one right now in Poland. The team demonstrates strategic thinking and very business-oriented approach. I'm particularly impressed with their commitment and work ethic and open minds. They have long bench. They are the most responsive law firms that we work with. If needed, they are working round the clock." – Capital markets: equity

"DLA Piper team provides us with excellent services. This is definitely one of the leading capital markets teams on the market." – Capital markets: equity

"I am positively impressed by DLA Piper - experienced, dedicated and well-rounded. They are very pro-active and business-oriented." – Capital markets: equity

"DLA Piper is a law firm with a very good understanding of the business aspects of advisory and therefore is a very good partner from our (banking) perspective. DLA Piper is proactive and has hands-on approach; they are result-driven and stick to deadlines." – Capital markets: equity

"Creative and responsible." – Capital markets: equity

"Highly engaged and professional team. Together, we solved all the problems necessary to conclude the project." – Capital markets: structured finance and securitisation

"Very high quality advice. Partner was available at all times throughout and post transaction. The finance team was also highly professional. They were always highly engaged and I never had to chase for answers and feedback." – M&A

"Very talented and experienced team that is able to address complex transactional issues. They offer high quality work at competitive fees." – M&A

"We appreciate their dedication and client approach." – M&A

"DL Piper provided us with excellent level of services. The team is very skilled and effective. They are very commercial and committed to the project. I am fully convinced that this is currently one of best capital markets teams on Polish capital market." – M&A 

Domański Zakrzewski Palinka

Domański Zakrzewski Palinka is the largest domestic law firm providing full spectrum of services across the board. The firm is strong in project work and has notable expertise in M&A too. It is one of the go-to firms for domestic transactions.

In the banking space the firm has a healthy portfolio of international banks, financial holdings and investment companies as its clients. The firm's transactional expertise includes advising on the polish aspects of cross border financings, refinancings and debt restructurings. Foreign payment services also look to firm's local law expertise to advise them on regulatory matters in relation to establishment and operation of services in Poland. 

In capital markets work the firm has picked up work in private placement and bond issues for issuers advising them on Polish law. 

The firm stands out for its expertise in energy and infrastructure sector. Active on road infrastructure, railway and waste management projects, the firm advises a mix of international construction and industrial companies and infrastructure funds on public procurement, tender bids and financings. The firm's expertise also lies in PPP projects where it has developed a strong presence in renewable projects – photovoltaic and offshore wind mostly. 

The firm is also active in oil and gas sector. Advisors to Polish operators, the firm advises on a range of contracting and tender processes on both regional and domestic pipeline and LNG projects. It has also picked up work on the largest merger in the Polish market representing domestic oil company as one of the merging party. Elsewhere, the firm's corporate team represents a host of industry leading Polish companies on acquisitions, sales, joint ventures and mergers under Polish law. 

Recent Deal Data highlights

•Baltic Gas

•Gdańsk thermal waste treatment plant PPP

•Gestamp Automocion €400 million 3.25% high yield bond issue

•Jaworzno 910MW power plant

•Owens Corning $900 million financing 

•Lotos Group and PKN Orlen merger

•Szczecin waste incineration plant

•Zarząd Komunalnych Zasobów Lokalowych PLN178 million financing

Client feedback

"Professional and competent." – Capital markets: debt

"Domański Zakrzewski Palinka gave us professional impression about the company. It has lots of experts in one place, lots of experience on the field we were interested in and strong recommendations from others." – M&A

"Highly responsive and quality work." – M&A

"Professional, hands-on approach. Very good quality, customer-oriented and great value for money." – M&A

"The staff was professional with excellent law knowledge and high communication and negotiation skills. All M&A processes were perfectly prepared." – M&A

"High quality of consultancy, excellent knowledge of the market and the business environment, good understanding of client's needs and responsiveness." – Project development

"The scope of work commissioned was carried out properly with care to ensure compliance with ToR requirements and securing the interests of the employer. Great attention to details that makes it impossible to appeal the offer." – Project development

"Good quality of services and very good communication." – Project finance

Katarzyna Kuźma

"High analytical skills supported by good substantive preparation, professional preparation of discussion materials and punctual preparation of commissioned works."

Marcin Krakowiak

"Marcin has excellent knowledge of law and Polish business perspectives. He can effectively solve complicated legal regulations and advise on business matters. He has the ability to explain complex legal issues in a way that is understandable for non-lawyers."

Marek Świątkowski

"Excellent lawyer, very solution-oriented and responsive."

Michał Przychoda

"Effective, communicative and timely."

"Open, responsible and accessible."

Paweł Pioruński

"Very professional, hands-on approach and extremely good customer service. Highly Recommended!"

Piotr Andrzejczak

"He was responsible for the whole process, supervising other members of the team. Piotr is very professional, always prepared, discreet and concrete. Maintains good business relations and keeps calm. He is communicative and very friendly."

Damian Szczygielski and Marek Świątkowski

"Excellent law knowledge, excellent communication and negotiation skills."

Magdalena Skowrońska, Piotr Jackowski and Bartosz Karolczyk

"Very professional, always open minded, helpful and easy to cooperate with and always meet the deadlines."

Dubiński Jeleński Masiarz and Partners

Dubiński Jeleński Masiarz & Partners is active in banking and finance, investment fund work and restructuring and insolvency.

During the research period in banking and capital markets work the firm mainly advised lenders on bond financing in connection to senior bank financing. It also advised on real estate acquisition financing and bond issuances. 

In investment fund work the firm advised on private equity fund formation and the creation and management of Employee Capital Plans for investment fund companies and pension companies. 

Additionally, in restructuring and insolvency, the firm has advised bondholders in restructuring, and has undertaken debt restructurings representing management and shareholders. 

Anna Zalewska and Krzysztof Czyżewski joined the firm as counsels in banking and finance from Romanowski I Wspólnicy and BSWW respectively.

Recent Deal Data highlights

•Action restructuring 

•GetBack €786 million debt restructuring 

•Małpka restructuring 

•Sygnity restructuring 

Client feedback

"Deep knowledge of the matter, extensive experience, including in dealing with regulator." – Investment funds

"Good in-depth knowledge of the subject at hand, flexible and responsive." – Investment funds 

"The firm has proved to be one of the most trusted, professional and involved partners of our company. We perceive them as a very reliable law firm and one of the most important contributors to our success over the years." – Investment funds 

"Very experienced team with good understanding of the market." – Investment funds 

"Very experienced, highly professional, active and high negotiation abilities." – Investment funds 

"Very strong negotiators, deep law knowledge, great M&A expertise and very good timing." – M&A

"Highly experienced in Polish restructuring law and strong negotiation skills." – Restructuring and insolvency

EY Law

EY Law firm is active in corporate and M&A transactional work.

During the research period the firm mainly advised the sellers in acquisition work, particularly share transactions in technology and e-commerce, agriculture and online retail industry sectors.

In other work it advised on reorganisations in the aviation and TV media sector.

Recent deal data highlights 

•MCI Pl160 million acquisition of 51% in IAI

•Merlin Group €4.03 million acquisition of Profit M 

•Polska Grupa Lotnicza restructuring

•SuperDrob Zakłady Drobiarsko–Mięsne €44 million acquisition of Indykpol stake

FKA Furtek Komosa Aleksandrowicz

FKA Furtek Komosa Aleksandrowicz is active in banking, debt capital markets and M&A.

During the research period in banking work the firm advised lenders in project and acquisition financing transactions, including the financing of a merger in renewable energy. The firm also undertook debt restructurings for clients. 

In capital markets work the firm advised on drafting a prospectus for a new issue of shares. 

In M&A the firm advised on the buy and sell side of acquisitions in real estate and media sectors. It also advised a bank in a real estate asset transfer to a special purpose vehicle (SPV) and aided private equity investors on a share acquisition in the media sector.

In restructuring and insolvency the firm worked with clients (mainly financial institutions) on restructuring, and acted for debtors in bankruptcy cases. 

In recent departures, Edyta Jusiel, a partner in commercial and corporate law, M&A and private equity, left the firm to join Rykowski Jusiel, and Malgorzata Szczotka-Kida, a senior associate in M&A, banking, capital markets and restructuring left to join WPW Wołczek, Proksa & Wspólnicy. In corporate and M&A Paulina Smulska joined the firm as a senior associate from private practice. 

Client feedback

"Fast, reliable and business-oriented. Biggest value is that they understand the business needs and can relate to the issue and look at it from customer's perspective." – Banking

"Excellent drafting skills, quick turnaround and superior skills in explaining particulars of local market rules to international investors." – Capital markets: debt

Gessel

Gessel is a full service financial and corporate firm that advises on Polish and German law. 

In banking and finance the firm is active on both the lenders and borrowers’ side. It advises its clients on the loan agreements, acquisition and real estate finance.

In capital markets the firm advises listed companies on regulatory compliance matters. In the transactional space the firm advises its clients on the preparation of prospectus, buyback programmes, and share issues, in addition to bond issues. 

In M&A the firm covers both public and private transactions across several sectors. It is particularly active in the private equity space where it advises international private equity and venture capital funds on acquisitions in the Polish market. 

Recent Deal Data highlights

•Arbis Capital acquisition of Velvet Care

•CVI Dom Maklerski €155 million buy-out of Exact Systems

•Enterprise investors PLN100 million acquisition of minority stake in Anwim

•Flokk acquisition of Profim

•H88 and R22 share buyback

•Jantoń acquisition of Platinum wines

•Reino Partners, Reino Dywidenda Plus and Poligo Capital acquisition of Graviton Capital

•Resource Partners fund acquisition financing

Client feedback

"Good cooperation. Wide knowledge, experience and good communication." – Capital markets: equity

"In my opinion this is the best domestic law firm in the ECM market in Poland. Very productive, reliable and helpful." – Capital markets: equity

"Our cooperation with Gessel has always met our expectations. We highly value Gessel's responsiveness and professionalism. Gessel provides additional comfort by keeping close relationship with counterparty." – Capital markets: equity

"Overall, Gessel is a very good firm. The legal documents were delivered according instructions. Gessell is client oriented law firm, and lawyers were actively negotiating the agreements." – M&A

"High competence, strong focus on customer's needs and creativity." – M&A

Krzysztof Marczuk

"Very experienced and reliable, helpful, innovative and great industry knowledge."

"Krzysztof is very competent and is always proactively acting to find solutions to expected problems. I highly value his responsiveness and the ability to act fast."

Maciej Kożuchowski

"Maciej is an experienced lawyer. He specialises in M&A transactions, day-to-day corporate services and negotiations of financings for businesses. He is client oriented and very good in negotiations. Deep professional knowledge and strong personality supports the efficiency of work and communication with the client."

Marcin Macieszczak

"Very focused on customer needs, willing to understand the company and the background, very creative and open to share his network."

Leszek Koziorowski, Maria Dudzińska and Tomasz Drągowski

"Wide knowledge, experience and good communication."

Greenberg Traurig Grzesiak

The Polish arm of US law firm Greenberg Traurig specialises in real estate sector work, acting on both acquisitions and financings. Its client portfolio of real estate developers and investors provide almost half of the firm's work stream. However, its activity in other sectors is also quite notable. It acts for large Polish and international financial services, investment firms and corporates across a mix of banking, M&A and capital markets work.

In the banking space the firm is active on a mix of acquisition, construction and corporate financings, refinancing and debt restructuring transactions. It has greater workflow from the borrower side but does lender side transactions on behalf of international banks too. Most of these transactions take place in the real estate sector. 

Acquisitions of retail parks, offices and properties are quite common mandates for the firm. Either working on buy or sell side, the firm represents a mix of domestic and foreign REIT, property developers and investment firms. During the research period the firm was quite active in banking consolidations, advising several banks on the Polish element of regional sales. The firm also acted on public M&A deals, advising listed companies and acquirers on public tender offers and eventual acquisitions. 

On more traditional equity transactions, the firm works with its parent office on US transactions with Polish elements. It is capable of advising on IPOs, rights issues and capital increases under both Polish and US law. On the debt side the firm is capable of handling the establishment of debt programmes and bond issues for issuers that vary between private companies, banks and publicly listed companies. 

During the research period the capital markets partner Federico Salinas left the firm to go independent. He eventually joined the newly established Warsaw office of Rimon law firm. Former Weil Gotshal & Magnes banking lawyer Michał Bobrzyński joined the firm as a banking partner.

Recent Deal Data highlights

•Banco Santander $325 million acquisition of Deutsche Bank

•Bank Millennium PLN1.8 billion acquisition of Euro Bank

•BNP Paribas PLN3.25 billion acquisition of core banking business of Raiffeisen Bank

•Cyfrowy Polsat Group PLN12.5 billion refinancing

•Golub GetHouse and Mennica Polska €130 million financing

•Madison International Realty acquisition of 50% stake in Warsaw Spire A

•Maxima Grupe €276 million acquisition of 93.7% shares of Emperia Holding

•Silvair Warsaw Stock Exchange IPO

Client feedback

"Strong, passionate and hardworking team with great communications skills." – Capital markets: equity

"Top of the class in all areas." – M&A

"Very strong in all practices and very consistent in all respect." – M&A

"The most professional and trustworthy advisor." – M&A

"GT provides a very professional and effective legal support. They are able to take over a big part of contacts with the customer and third parties and effectively support the restructuring process within the scope of duties and rules agreed with the banks." – Restructuring and insolvency

JSLegal

JS Legal Jankowski Stroinski I Partnerzy has been active in M&A work over the research period. 

The firm advised sellers in acquisition work, including advising Velvet CARE in the sale of its controlling stake in the company to Abris Capital Partners. It also advised multiple investors, including private equity investor Resource Partners in its acquisition of Artgeist, an interior decoration company. 

In recent hires, Luiza Wyrębkowska, formerly from Benefit Systems, and Jerzy Kiełbasiński, formerly from a private practice, both joined the firm as corporate counsels. Corporate counsel Mateusz Bednarz left the form to join TBD.

Recent deal data highlights

•TDJ Pitango Ventures Capital Management $4.5 million investment into CallPage 

Kochański & Partners

Kochański & Partners, formerly Kochański Zięba & Partners, went through a split in the beginning of the year that saw its former name partner Rafał Zięba leave with his team to establish his own firm. The firm continues to provide extensive services in financial and corporate area focusing on 10 key sectors including real estate, energy and financial services among others.

In banking the firm advises foreign banks and credit institutions on syndicated loans, credit facilities and real estate financing, the firm is active on such transactions on behalf of the banks active in Poland.

In M&A the research period saw the firm act as local counsel to private equity and investment firms on acquisitions across real estate and financial services sectors. It also advised an asset management company on its joint venture and subsequent acquisition of shopping centre in Belgium.

The firm hired Olgierd Świerzewski as a new banking and finance partner from an in-house counsel position at Accor.

Recent Deal Data highlights

•Beneteau Group acquisition of Delphia Yachts

•Echo Polska Properties €100 million acquisition of King Cross Marcelin shopping mall

•Glas Trösch Euroholding €60 million financing

•Pepkor Europe £180 million financing

•Pollen Street capital acquisition of majority stake in BIK companies

•Universal Fibers / Stilon joint venture

Client feedback

"Wide scope of services, professional and competent experts, very business minded, experienced in many businesses, comfortable working with international companies, customer oriented and wide network in the business society. One of the top 10 law firms in the market." – Banking 

"In-depth legal knowledge of the respective field, highly effective negotiation skills and perfect understanding of clients' needs." – M&A 

Gabriel Olearnik

"In depth-legal knowledge in corporate and M&A transactions, extremely efficient negotiation skills, perfect understanding of client's needs and cross border network."

Paweł Mardas

"In depth-legal knowledge in corporate and M&A transactions, efficient negotiation skills and perfect understanding of client's needs."

Rafał Rapala

"Professional, perfectionist, extremely customer oriented, excellent listener, excellent market knowledge, wide experiences, open minded, very reliable partner and top legal advisor."

Krassowski

The local firm Krassowski is active in M&A and private equity work.

During the research period the firm advised a mix of buyers and sellers in acquisition work, particularly within the medical services and healthcare, technology and consumer goods sectors. Some of the firm’s clients include Neomedic, Innova Capital Partnerss, CD Projekt, Maczfir and Aludesigns.

Recent deal data highlights

•ABC Medicover Holdings €70 million acquisition of Neomedics

Kycia Legal

Kycia Legal is a Warsaw-based boutique particularly active in banking and finance work.

During the research period the firm advised lenders on the senior and mezzanine financing of an e-commerce group, and on refinancings and acquisition financings for businesses in the real estate, water processing, shipbuilding, and food production and manufacturing industries. 

Client feedback

"Overall we are very satisfied with MDDP's performance. They have a very broad legal knowledge and never fail to answer my queries with well-advised answers. The contact with the company is very good; they are very open and always reply to my emails quickly." – Project development 

Linklaters C Wiśniewski

The polish office of the magic circle firm Linklaters has financial and corporate strength in Warsaw. Known for its banking and M&A capabilities, the firm is well suited to handle large cross border financial and corporate deals

In banking and finance the firm is active on domestic and cross border financings, advising both lenders and borrowers. Domestic banks, international financial institutions and Polish funds look to the firm to utilise its lending expertise on real estate and acquisition financings. Its borrower side clients include real estate developers, investors and Polish companies active in manufacturing and energy sectors among others. 

In M&A the firm is active in both public and private transactions. Real estate is once again an active sector for the firm and it advises domestic and foreign listed property groups on acquisitions in Poland. .

Recent Deal Data highlights

•Chariot Top Group €1 billion acquisition of Polish retail portfolio

•Globalworth €190 million acquisition of skylight and Lumen office buildings

•Globalworth €101 million acquisition of Spektrum Tower

•Griffin Real Estate and Redefine Properties €200 million acquisition of Panattoni Europe logistic portfolio

•Grupa Azoty PLN3 billion financing

•Henderson Park acquisition of 70% in Echo Polska Properties portfolio

•ING Bank Śląski acquisition of 45% shares of NN Investment Partners

•Klaipedos Smelte €80 million financing

MDDP Olkiewicz & Partners

MDDP Olkiewicz and Partners is active in M&A and restructuring.

During the research period the firm worked mainly in the real estate sector. In M&A it advised sellers and investors in property acquisitions, and worked on capital group corporate restructuring for a Warsaw real estate owner.

In other work, the firm advised Capital Park on an intra-group merger of seven companies, and advised SUSI Energy Efficiency Fund on the receivables financing framework agreement with Philips Lighting’s Light-as-a-Service (LaaS) projects. 

Bartłomiej Sadura, the acting head of litigation, joined the firm from Dentons to work in restructuring and insolvency practice areas. 

Recent deal data highlights

•Capital Park intra-group merger

Client feedback

"Overall we are very satisfied with MDDP's performance. They have a very broad legal knowledge and never fail to answer my queries with well-advised answers. The contact with the company is very good; they are very open and always reply to my emails quickly." – Project development 

Mrowiec Fiałek

Mrowiec Fiałek is an independent firm that focuses on M&A and capital markets transactions. 

In the capital markets space the firm is mostly active in the debt space where its advisory role ranges from issuer side to arranger side counsel. During the research period equity side mandates saw the firm advise funds management on the delisting of an entertainment company from Warsaw Stock Exchange.

The firm often advises portfolio companies and private equity funds on M&A transactions in Poland. It is also active in the public M&A space where it advises listed companies on the sale of shares. During the research period it was active across healthcare, financial services and the manufacturing sectors among others. 

Recent Deal Data highlights

•Argus Capital divestment of shares in KCR

•Centrum Rozliczeń Elektronicznych Polskie ePłatności on acquisition of PayLane

•Innova Capital acquisition of Nuss

•ZAP Sznajder Batterien acquisition of NEF Battery Holding

NGL Wiater

NGL Wiater is active in project development, particularly in the energy and power sectors, and M&A work. 

In M&A, the firm worked on both the buy and sell side of acquisitions, including advising cable operator Multimedia Polska on the disposal of all its shares to Vectra. It also worked on the restructuring of Ruch, a Polish newspaper distributor on behalf of the main creditor.

During the research period in projects work the firm worked closely with utility companies, advising on electricity distribution agreements, regulatory issues and asset transfers. In construction the firm advised on issues related to electro mobility and the construction of recharging stations, and on the construction of a new high voltage power line. Some key clients include PKP Energetyka and The Polish Association of Alternative Fuels.

A large team of team joined the firm from DLA Piper recently. The hires included energy partners Maciej Wesołowski and Filip Opoka and corporate partners Grzegorz Godlewski, Jarosław Witek and Krzysztof Wiater. Jarosław Jatczak, another corporate partner joined the firm from Jatczak i Wspólnicy.

Norton Rose Fulbright Piotr Strawa and Partners

Norton Rose Fulbright Piotr Strawa and Partners has built a strong reputation in finance matters. 

Known for its bank side expertise, the firm is active in syndicated loans and advises on the financings of projects, acquisitions and assets. 

The firm has built a specialism in asset finance, acting on deals related to the automotive and aviation sectors. The firm is also capable of taking on leasing and factoring transactions. 

The firm's project financing transactions typically includes work for the banks on transport and energy projects. 

During the research period real estate counsel Aleksandra Mazur joined the firm from Greenberg Traurig Grzesiak.

Recent Deal Data highlights

•Barlinek Group €200 million financing

•Galeria Mokotów €200 million refinancing

•Hillwood Europe Zalando Lounge warehouse development financing

•ISOC €92 million acquisition of the Argon building

•Polskie Koleje Państwowe PLN700 million financing

•Synthos Group €850 million financing

Client feedback

"The team was professional and properly addressed and mitigated risks for the bank. They have good knowledge of the market and the ability and willingness to propose solutions." – Banking 

"Very high skilled employees and advisors." – M&A

"Extremely professional, client friendly and solution-oriented lawyers." – M&A

Ożóg Tomczykowski

Ożóg Tomczykowski is active in corporate advisory and M&A work. 

In M&A the firm worked for buyers in acquisitions in the IT sector and advised on real estate investments. It also advised REAS, real estate consultants, on a merger with Jones Lang LaSalle.

During the research period the firm also advised clients in reorganisation and restructuring. 

New hires included Łukasz Warszawski and Monika Wystrychowska joining the firm as senior associates from Olczak-Klimek van der Kroft Węgiełek. 

Peterka & Partners

The Polish office of Peterka & Partners is active in corporate and M&A transactional work, working mainly on the buyer’s side of acquisitions. 

During the research period the firm advised on acquisitions in furniture production and manufacturing, but also worked within the energy, food and pharmaceuticals industry sectors. It also worked on the demerger of Falck Medycyna, a medical transportation and services company.

Recent deal data highlights

•Hermes Energy Group €7 million acquisition of Energie2 Holding’s Polish subsidiary

Prof Marek Wierzbowski & Partners

Prof Marek Wierzbowski & Partners is a local firm active in capital markets and M&A.

During the research period in capital markets work the firm advised on various local equity issues, including the share capital increase of MaxiPizza, a company that owns a restaurant chain.

In M&A the firm was active on the buy and sell side of acquisitions.

Recent deal data highlights

•MaxiPizza capital increase 

Client feedback

"Prof Wierzbowski is the authority figure even for the regulators. They have a very good understanding of regulatory framework." – Banking

Radzikowski Szubielska & Partners

Radzikowski, Szubielska & Partners is an independent firm active in M&A and banking and finance.

During the research period the firm mainly advised lenders in real estate and infrastructure financing. 

In M&A the firm advised on share purchase and cross-border asset acquisitions. It advised the seller Global City Holding in the sale of a real estate asset and advised a buyer in the acquisition of wind and photovoltaic power plant projects. 

Recent deal data highlights

•ZF Polpharma spin-off 

Client feedback

"Excellent, precise, imaginative and hard working. Excellent client relationship." – Capital markets: debt

"I work with Martyna Kamińska-Tabaka on the transaction. I appreciate her profound knowledge and transactional experience. She is a very professional, talented and business- oriented lawyer." – M&A

"Very good cooperation with lawyers, very good specialists, professional preparation of legal opinions and very good understanding of customer's problems and trying to solve them." – M&A

"They understand both the business and legal aspects of the matters and have an understanding of the market trends. They are flexible, professional and open-minded. They promptly respond to our requests. We can rely on them." – M&A 

"I'm of a very positive opinion about them for providing professional and effective legal assistance. They always analyse our issues thoroughly and scrupulously. They are also very good negotiators – Martyna Kamińska-Tabaka participated in many meetings and negotiated contracts with our Polish and foreign partners. They have always provided us with reliable legal assistance." – M&A

"I see them as a harmonious team of talented lawyers. They always support each other and are a very reliable team." – M&A 

"We are very satisfied with the work done. The quality is perfect and they completed the work in a timely manner." – Project finance

Schoenherr Poland

The Polish office of Schoenherr is active in finance, capital markets and M&A work.

During the research period the firm acted for borrowers, arrangers, lenders and facility agents on banking deals. 

In capital markets work the firm acted as Polish counsel to the issuer in senior secured note offerings.

In M&A the firm advised both sellers and buyers in acquisition and due diligence work.

Banking and finance counsel Daniel Radwański joined the firm from Dentons and corporate M&A counsel Krzysztof Pawlak joined the firm from Sołtysiński Kawecki & Szlęzak. Managing partner Katarzyna Terlecka left the firm in the research period.

Client feedback

"Fast reaction, always prepared, well organised and very strong in negotiations." – Project development 

Sołtysiński Kawecki & Szlęzak

During the research period Sołtysiński Kawecki & Szlęzak advised on the establishment of a mortgage bank and advised on a Brexit-related restructuring and the implementation of Payment Services Directive II (PSD2). 

The firm also acted as Polish advisor to the buyer in an asset acquisitions in the insurance sector and was lender’s counsel in a financing for an education facility.

Banking and finance of counsel Sławomir Stawczyk left the firm during the research period. 

Recent deal data highlights

•ING Bank Hipoteczny mortgage bank

•Phoebe IVS / Indigo Agencies Holding PL498 million acquisition of Latona 

Client feedback

"Very high level of expertise in comparison to competitors, business-oriented advise and good price/value ratio." – Banking 

"In my opinion they are best experts in the regulatory banking issues." – Banking 

"Excellent support, responsive, knowledgeable and with a great understanding built up of internal business clients." – Banking 

SSW Pragmatic Solutions

SSW Pragmatic Solutions is active across the financial and corporate space.

In banking and finance the firm recently advised borrowers on acquisition financings and loan restructurings. It also advised Santander Bank Polska in the process of establishing and licencing a new bank in Poland, and advised BPM Capital as lender on a mezzanine financing in the medical industry. In cryptocurrency work the firm supported MobileWeb Pro in an initial coin offering.

In capital markets work the firm advised on multiple issuances of corporate bonds, in both private and public offerings, and the establishment of bond issuance programmes. 

In equity work the firm advised multiple games development and new technology clients in pre-IPO restructuring and on the IPO process for listing shares on the Warsaw Stock Exchange. Clients included BoomBit, Games Operators, Advanced Protection Systems and Ten Square Games. 

In M&A the firm advised sellers and buyers in acquisition work, particularly in the agriculture, dairy production, real estate and utilities sectors. It also advised on the creation of joint ventures. 

In project development work the firm had mainly advisory roles in energy, transport, oil and gas sectors.

Recent deal data highlights

•BoomBit WSE IPO 

•Games Operators WSE IPO

•GetBack €70 million bond issuance programme

•GetBack restructuring

•Polenergia €50 million debt restructuring 

•Ten Square Games WSE IPO

Client feedback

"Professional support, fast response and focus on solving the problem and not creating it." – Banking 

"Energy Team and Insolvency Team are exceptional - very hard working lawyers with great attitude towards clients." – Banking

"The firm provided an efficient, timely and good value service." – Banking 

"We can definitely recommend cooperation with SSW Solutions due to the professionalism of the entire team, a wide range of their competences and very quick handling of all matters. Each of the entrusted cases was resolved with the utmost care." – Banking 

"The team is very supportive and reactive; the advice they provide is technically excellent and highly pragmatic. They are the leaders in capital markets area in Poland – a top notch firm and the team." – Banking 

"Efficient service and practical knowledge." – Capital markets: debt 

"Reliable and hard working." – Capital markets: debt

"Very good availability, knowledge about current legal environment in Poland and innovative approach to restructuring process." – Capital markets: debt

"Young, energetic, very professional and much better than the big 4." – Capital markets: equity

"The Company provides high quality services on time. Its employees have high qualities and a lot of experience and provide clients with lot of support and advice." – Capital markets: equity

"Flexible approach, good track record and understanding of regulatory requirements." – Capital markets: equity

"They offer very high quality services, especially on IPO transactions. They are responsive and always deliver on time. They are a leading capital markets firm in Poland." – Capital markets: equity 

"The professional knowledge and attributed of SSW is one of the strength of the company. They are trying to solve the issues the shortest way." – M&A

"Good service, good organizational skills, work in a relatively small team and  good transfer of information." – M&A

"Very good performance, high calibre legal advice, project management and  pragmatic approach." – M&A 

"Key strengths of SSW are their business-oriented approach aimed at making things happen and excellent skills (both technical and soft)." – M&A 

"B&F Team is very dedicated to their work. Tomasz Kwaśniewski was a leading lawyer who really impressed us. We also work a lot with the Energy Team. SSW is a good local law firm with a lot of experience." – Project finance

Taylor Wessing e|n|w|c

Taylor Wessing in Warsaw is active in banking and finance.

During the research period the firm had lender side roles on financings for clients including IKB Deutsche Industriebank.

New hire Krzysztof Borżoł joined the firm as senior associate from Chałas i Wspólnicy.

Wardyński & Partners

Wardyński & Partners is a local firm active across M&A, banking, and capital markets and with a particular strength in project development.

In banking and finance the firm recently was mostly active on the lender side.

In capital markets the firm advised issuers on bonds and bondholders in restructurings. In equity work the firm advised Bank Ochrony Środowiska on its listing and a secondary share offering. 

In M&A and private equity the firm advised a mix of buyers and sellers in acquisition work, including the private equity acquisition by Investindustrial PE of HTL-Strefa shares from EQT PE. The firm also worked on a demerger and transfer of shares. 

In project development work the firm worked with client Mitsubishi Hitachi Power Systems Europe on multiple power plant construction projects and tender bids. It also advised on multiple tenders in waste incineration and transportation and on a public-private partnership for a broadband network in the Mazovian region. 

Recent deal data highlights 

•Agencja Rozwoju Przemysłu €59 million bond issue

•Bank Ochrony Środowiska €70 million secondary share offer

•Investindustrial PE €405 million acquisition of HTL Strefa 

•Jaworzno Power Plant 910MW coal-fired power plant

•KBTO Mazavian region broadband PPP

•Ostrołęka 1000MW power plant

•OT Logistics Pl330 million debt restructuring 

•SGL Carbon €175 million revolving credit facility

Client feedback

"Very responsive, precise advice and good value for money." – Banking 

"The team at Wardyński & Partners was responsive, proactive and adept at distilling the key issues and commercial concerns for our client." – Banking 

"Wardyński is one of the best friend firms in our network. We value their responsiveness and smooth cooperation, which our clients have come to appreciate." – Banking 

"I have been very happy with Wardyński. Their advice has been clear and to-the-point, and workflow management has worked flawlessly." – Banking 

"We received a proactive service from Wardyński when time was of the essence for our client." – Banking 

"Strong communication with the client and regulator, explaining what needs to be done, which information is necessary and representing the client's best interest." - Banking

"Overall very happy with their assistance. The team was responsive, available and service minded." – Banking

"Wardyński & Partners is a leading law firm and highly recommended in the banking matters. The banking & finance team I have worked with is strong and it has been a pleasure to work with them.  They provide timely and professional advice, complying fully with our and client' s requirements and expectations." – Banking 

"We've see the lawyers from Wardyński as almost a part of our company. They know our business so we do not have to spend money teaching them about funds as it was with other law firms." – Banking

"Flexible, creative, persistent in negotiations and adopted bank's perspective." – Banking 

"I'm very satisfied with the cooperation with W&P. Their analysis and work is of great quality. Communication is one of their greatest strengths." – Capital markets: debt

"Quick, accurate and sharp." – Capital markets: equity 

"Katarzyna Wójcik-Bąkowska and her team provided outstanding support during the transaction. Her control of the negotiations was superb." – M&A 

"Very good and commercial thinking M&A firm. Very strong partners and associates." – M&A

"Excellent service - very well coordinated multi-practice team with strong specialization and always available to support, even under great time pressures. Their team demonstrated technical strength on legal issues across multiple practice areas, and transactional and organisational capabilities in the implementation of a highly complex structure, with multiple vendors under tight timetables.  Their team worked with the very highest standard of English capability." – M&A 

"Speaking to Wardyński was always a pleasure. Their responses were to the point, timely, and they were always friendly, even though the transaction set-up changed quite frequently. In addition, Wardyński was always thinking proactively to resolve imminent issues for the client. Their general pragmatic approach to Polish law issues was very helpful in this respect." – M&A

"Strong attitude, good substantive knowledge in IT and public tender issues in Poland and perfect communication skills and reliability. Overall assessment - very good." – Project development

Weil Gotshal & Manges – Paweł Rymarz

Weil Gotshal & Manges – Paweł Rymarz is one of the strongest firms in Poland. 

The banking team typically acts on the financing transactions on the borrowers side. It advises investment funds, private equity firms and large domestic and international corporates on the financing and refinancing of acquisition, real estate transactions and projects. 

In the debt capital markets area the team's transactions are mostly on the issuer side of corporate bonds. In the equity space the firm covers IPOs and SPOs for listed companies and issuers that includes steel trading companies and international banks, among others. The firm is also active on public M&A. 

In M&A generally the firm is active across a wide range of sectors. It has acted on some large multinational transactions for investment funds, private equity firms, property groups, leading oil company and other industry leaders in Europe. 

In the projects space the firm is active on energy infrastructure projects, advising natural gas suppliers on the development of LNG terminals. However, its strength lies in the power sector where it advises on the development of traditional and renewable energy power plants, covering EPC contracts, licensing, financing and tender preparations. 

Recent Deal Data highlights

•AccorHotels €337 million tender offer for 33% shares in Orbis

•BNP Paribas PLN3.25 billion acquisition of core banking business of Raiffeisen Bank

•Ciech PLN1.59 billion credit facility

•Construcciones y Auxiliar de Ferrocarriles €300 million acquisition of Solaris Bus & Coach

•DE Heus and DE Heus Animal Nutrition acquisition of Komponenta 

•IFM Global Infrastructure Fund, Polish Development Fund and PSA International acquisition DCT Gdańsk

•Kentaur greenfield investment financing 

•Lotos Group / PKN Orlen merger

Client feedback

"They are always available, responsive and business-oriented. The rates are on reasonable level." – Banking

"Precise approach to the issues, especially in terms of understanding the matter, the subject of our activity, which is crucial for the adoption of appropriate assumptions. The company shows high professionalism in business activities." – Banking

"Very professional and efficient advice with particular attention to client satisfaction. Supported effective negotiations and identified and efficiently addressed key structural and legal risks." – Banking  

"Very engaged and quick responses." – Banking 

"Very good work - very professional and business-oriented people." – Capital markets: debt

"They provide top-notch service, which is always above expectations. They are timely, efficient and professional." – Capital markets: equity

"Highly motivated lawyers with strong experience in managing transactions." – Capital markets: equity

"Excellent knowledge of market standards and regulations; lawyers are happy to find new unique solutions." – Capital markets: equity   

"Very good understanding of ECM and public M&A." – M&A

"Very high work ethic and great advisory service." – M&A

"One of the best M&A and ECM teams in the country - always available and delivering work to very high standards." – M&A

"Owing to the firm's vast experience and long presence in Poland, it can successfully analyse and address the local client's needs. In our case, engaging the firm in this project allowed our company to make substantial saving on legal expenses." – M&A

"Highly qualified senior counsels overseeing well organised and responsive team of lawyers. Rapid delivery of documents and analysis in a difficult price bid environment." – M&A

"I am pleased with the level of offered service. Key strengths include very business-oriented mind set and understanding client's needs." – M&A 

"Very good quality of work and support to the client, including finding commercial solutions to issues. Highly recommended as the key legal advisor." – M&A

"Weil Team is a pure example of a role model for legal specialists. Deep industry expertise, top-notch transaction skills and impeccable personal qualities. Very committed to reach common goals." – M&A

"They worked extremely hard and proved to be expert negotiators, helping us to reach a successful outcome. The team was clearly very knowledgeable and clearly dedicated to supporting us every step of the way. No real complaints." – M&A 

"Strong knowledge of the Polish energy sector." – M&A

"Flawless execution, huge commitment and great seniority." – M&A

"One of the two or three law firms who could handle issues of huge magnitude in the Poland. Good teamwork with delivery of high quality services without star attitudes." – M&A 

"Very reliable, well organised, and capable of handling large transactions under severe time pressure." – M&A  

"Competent people with deep industry knowledge, easy, quick and effective communication with top managers and quick response rates. They are trustful and reliable." – M&A 

"Very good cooperation, communication, responsiveness, feedback and client focused." – M&A

"Professional approach, thorough experience, good communication and co-ordination of the whole process." – M&A

"The solid knowledge and pro-business approach, as well as an ability to provide clients with assistance 24/7 when needed, are the key strengths of WGM. The team also offer a great cross practice services when an advice from another field of law is needed." – M&A

"The firm stands out for its ability to deal with complex and dynamic projects. Our key contact Marek Durski is by far one of the most creative lawyers, and has a deep understanding of not only energy law but also number of other fields of law. He also brings in a solid understanding of business and industry. What also makes the Weil team stand out is their enthusiasm and ability to meet tight deadlines that other law firms are unable to." – Project development

"Very high expertise and smooth cooperation." – Project development 

"The team of Weil lawyers is always willing to help at all times. The company is deeply involved in renewable energy sector and understands our company business approach." – Project development

"I value Weil, Gotshal & Manges for their high professionalism, availability and experience on large projects." – Project development

"Strong expertise in the energy commodities business. They have good understanding of business underpinnings of legal tasks and very good coordination of lawyers' work in cases involving attorneys from several offices/jurisdictions." – Project development 

"Highly competent and detail-oriented." – Project development 

"Very highly skilled and professional personnel working within set time constraints and open to finding new solutions to the problems that arise." – Project finance

"I have been particularly pleased with the work of Weil because of the deep insight into investments funds and restructuring law, as well as their infallible approach, make the Weil team a strategic asset in liquidation matters." – Restructuring and insolvency

White & Case M Studniarek & Partners

The Polish office of White & Case has a balanced practice and is strong across the board. It is particularly recommended for its capital markets and M&A practices.

The firm's banking and finance practice largely focuses on lender side refinancing and financings of acquisition and real estate transactions. The team is active on a mix of syndicated and bilateral loans and is capable of handling financings under English law. The lending side expertise also extends to projects where it acts on the financing of projects in the renewable energy, oil and gas and infrastructure sectors. 

In capital markets work the firm has one of the strongest debt and equity offerings locally. Mostly active for banks as issuers and coordinators, the firm advises on a range of bond issues including covered bonds under domestic and international law. The firm's equity expertise includes work in IPOs, accelerated booking buildings, public offerings and shares issues where it advises a mix of listed companies, new issuers, global coordinators and underwriters.

In M&A the firm acts on both public and private acquisitions, both domestic and cross border.

During the research period the firm's project development work was concentrated in the transport sector, advising construction and operating companies on PPP projects and contractual arrangements. 

Recent Deal Data highlights

•Cargill acquisition of Konspol

•Globalworth Poland Real Estate €450 million share private placement

•Mabion $51 million share private placement

•Mid Europa Partners €1 billion acquisition of Intive

•Nets PLN315 million acquisition of eCard and Dotpay

•Paged Group PLN530 million refinancing

•PKO Bank Hipoteczny €1 billion international mortgage covered bonds programme

•Wielton PLN413 million refinancing

Wierzbowski Eversheds Sutherland

The Polish arm of Eversheds Sutherland is active across the financial and corporate space, particularly within project finance and development and M&A. 

During the research period the firm advised lenders and borrowers in project and real estate financings and refinancings 

In M&A the firm advised on the buy and sell side, including assisting buyer Geo Renewables in the acquisition of shares in SPVs owning a portfolio of photovoltaic projects, and advising Grupa Netsprint on its acquisition of Way To Grow. It also advised on the reorganisation and merger of a pharmaceutical wholesaler.

In project development work the firm represented clients in tender bids in the transport, heating and power sectors.

Paweł Stykowski was hired from an in-house position as counsel and Michał Markowski was promoted to practice head in banking. The firm hired Witold Sławiński as counsel and Jan Styliński as of counsel from LSS Slaw Firm to work in construction and public procurement areas. Magdalena Łuczak-Golenia was hired as a senior associate from an in-house position to work in construction and public procurement. Tomasz Zalewski, a partner in public procurement, left the firm to join Bird & Bird. Michał Karwacki, a partner in private equity, joined the firm from Squire Patton Boggs.

Recent deal data highlights

•Ghelamco Poland €25 million financing and refinancing of construction of ‘.big Kraków’ office building 

•Reliance Worldwide Corporation (RWC) £687 million acquisition of John Guest Holdings

•Medicare Galenica €43 million (value of merged companies) merger with Galenica Nova

Client feedback

"Excellent service - very responsive, technically strong, a lot of industry experience and competitive pricing." – M&A 

Wiewiórski Legal

Wiewiórski Legal was active in banking and finance work during the research period.

The firm advised borrowers on financing transactions, including advising Selena FM, a global construction chemical manufacturer, on an increase and amendment to a financing agreement with PKO Bank Polski. It also worked on debt restructuring and a new factoring financing for a human resources group.

Recent deal data highlights

•Selena FM €12 million financing 

•Selena FM €20.1 million financing

•Work Service Group €13.6 million debt restructuring

Client feedback

"Comprehensive professional services." – Banking  

WKB Wierciński Kwieciński Baehr

WKB Wierciński Kwieciński Baehr is local firm active in M&A, banking, and project development, with experience in the power and infrastructure sectors.

During the research period in banking and finance the firm advised borrowers and lenders on municipal and mezzanine financing. It advised Siemens Finance on setting up a factoring business line. 

In project finance a highlight was advising lender Banco de Chile on the prolongation of a guarantee granted in connection to the Sierra Gorda Copper-Molybdenum open pit mine project. The firm also worked closely with client NewCold.

In capital markets work the firm advised issuers in a public offering of mortgage-covered bonds under a programme. It also advised on commodity derivatives as financial instruments under MiFiD 2, the assimilation of publicly traded mortgage covered bonds and updates to bond issue programmes.

In M&A the firm worked on acquisitions in the manufacturing, technology, infrastructure, pharmaceuticals and real estate sectors for both the buyers and sellers. It also advised on mergers, including the merger of PKO TFI and Gamma TFI investment funds.  

In project development the firm has mainly been working for private companies and advised on advanced metering, rainwater retention and waste treatment infrastructure projects. It advised on multiple transport tenders and express roads projects too. 

Recent deal data highlights

•Avallon MBO Fund II / Genesis Private Equity Fund III €20 million acquisition of EQOS Energie Polska and EQOS Energie Česko

•Mbank and Mbank Hipoteczny Pl300 million covered bond issue 

•Ostrołęka 1000MW power plant

Client feedback

"Commitment, good advice in some areas and flexibility." – Banking

"Wide experience in the financial sector, client focus approach with deep engagement and understanding of client's business needs and excellent communication." – Banking 

Wolf Theiss P Daszkowski

Wolf Theiss is active in banking and M&A.

During the research period in banking and finance, the firm worked mainly in the real estate sector. It advised on financing for office and commercial building development and for acquisitions. A highlight was advising the lender PKO Bank Polski in the refinancing of two real estate properties owned by the EPP group. It also advised lenders on term loan facilities. 

In M&A the firm mainly worked for buyers in acquisitions. A highlight was advising Hisense Group in the successful public takeover offer for the acquisition of all shares of Gorenje. The firm advised ALSO Holding, an ICT distribution solution and services provider, on a tender offer for ABC Data shares, and advised on restructurings for multiple clients.

Recent deal data highlights

•ALSO Holding €14 million tender offer for ABC Data 

•Czech Media Invest €73 million acquisition of Lagardère CEE radio assets

•Elektrociepłownia Stalowa Wola PL900 million term loan

•Hisense Group €250 million takeover of Gorenje

•PKO Bank Polski €186 million refinancing

Client feedback

"High quality services, quick response and significant experience in orchestrating high value, long-term projects that involve complex structuring, facilitating negotiations, navigating legal and regulatory issues." – Banking 

"Very good experience and knowledge." – M&A 

"Strong management of overall transaction, especially the corporate structuring of our acquisition." – M&A