Capital acquisition

We select the most favorable form of financing for our clients, providing access to Polish and international financial and industry investors. We propose solutions and a cooperation time frame with the investor that best matches the preferences and needs of our clients.

FINANCIAL INVESTOR: PRIVATE EQUITY OR VENTURE CAPITAL FUND

A financial investor, such as a private equity or venture capital fund, seeks to achieve the maximum possible rate of return on invested capital, with a medium-term investment horizon of 3 to 5 years. The primary source of profits for financial investors comes from the increase in the value of the capital employed, realized through the sale of shares in companies, as well as income from dividends paid by the companies. Financial investors acquire existing or new shares, taking minority or majority stakes in the capital in return.

INDUSTRY (STRATEGIC) INVESTOR

A strategic investor typically operates in the same or similar industry as the investee. The investment horizon is virtually unlimited – the investee fits into the investor’s long-term development strategy. The benefits for a strategic investor arise from operating on a larger scale, entering new markets, gaining access to new distribution channels, and generating higher revenues. Strategic investors practically always aim to ultimately gain control over the company.

WHAT DOES THE ASSISTANCE OF AN ADVISER INVOLVE?

Bringing in an investor for a company through an offer addressed to private equity funds, venture capital funds, or industry investors requires conducting its economic and financial analysis, developing a financial model with financial projections, and valuation. We define the medium-term ownership strategy for the client, prepare an Investment Memorandum, and a list of institutions to which the investment proposal will be addressed. We collect initial offers from interested parties and coordinate meetings between potential investors and the Company’s Management Board and owners. We take part in preparing and negotiating the Term Sheet, coordinating the due diligence process (examination of the Company), after which we negotiate the post-transaction corporate relationships within the Company (Corporate Governance), and the ultimate financial terms and conditions of the transaction, up to the conclusion of the Investment Agreement and Shareholders’ Agreement.

AFTER THE INVESTMENT AGREEMENT IS SIGNED

We ensure assistance with the execution of the final terms of the transaction, oversee the fulfillment of the conditions precedent to completion under the signed agreements, and monitor the company’s progress in achieving goals outlined in the business plan, financial model, and budget.

HOW WE ACT

During the process of acquiring a financial or strategic investor, we propose to adopt a specific ownership strategy, which the planned transaction will align with in the long-term time horizon. It is then crucial to properly define the company’s development strategy and plans, and to prepare information materials about the company in accordance with international standards. We define potential investors taking into account the scale, industry, company’s condition and needs, as well as the Client’s preferences. The list of selected investors in Poland and abroad is then presented to the Client for approval. Our task involves full communication with investors, organizing and participating in meetings between investors and the Company and its Owners. When negotiating the Term Sheet, we pay special attention to the company’s need for the investor’s contribution and the mutual relationships between the existing Owners and the new investor. Our supervision over the preparation of the so-called “data room,” containing crucial documents subject to investor analysis during the due diligence process (examination of the Company), helps optimize the investment terms for our client. We negotiate the final terms of the transaction and then oversee their execution.

SELECTED CAPITAL-RAISING PROJECTS

Projects in which we advised on bringing in an investor or raising capital:

• iTaxi.pl: raising funds for growth, including from Experior Venture Fund (2016)
• eSky.pl: financing from Syntaxis Capital for growth in foreign markets and the buyout of a minority shareholder (2014, EUR 10 million)
• Nestmedic S.A.: private placement of shares raising more than PLN 8.4 million (2017)
• SDS Optic S.A.: capital raised from an investment fund supporting innovative companies
• Polski Bank Komórek Macierzystych S.A.: bringing in a private equity investor (2005–2006)

SECTORAL SPECIALIZATIONS

Internet marketing

E-commerce

New technologies

Technologies for the construction industry

IT

Gaming

Smart home

Industrial production

Healthcare

Sales and distribution

FMCG

Building materials and construction

Pharmaceuticals

Transport

Renewable energy

B2B and B2C services