MFW Fiałek advised the owners of Zakład Przetwórstwa Owocowo-Warzywnego “ROLFROZ” sp. z o.o. on the sale of 100% of the shares to Cedo Capital. The deal ranks among the largest search-fund transactions in Europe to date.

Our M&A advice

Our support covered all stages of the M&A transaction – from assistance in the due diligence process to drafting and negotiating the SPA, advisory agreements, real estate sale agreements, and the remaining transaction documentation through closing. The deal ranks among the largest search fund transactions in Europe to date.

MFW Fiałek project team

The team was led by Mirosław Fiałek – Partner, with legal support also provided by Wojciech Lichterowicz – Senior Associate and Maciej Kiraga – Associate. The team further included Franciszek Furmaniak – Junior Associate and Maksymilian Gnat – Junior Associate.

Transaction parties — sellers and buyer (search fund)

ROLFROZ is a family-owned company built on tradition and commitment. For over 30 years, it has been one of Poland’s leading producers of sterilized and salad vegetables, vegetable and fruit concentrates and purées, as well as pickled vegetables for the food industry.

Cedo Capital is a project founded by entrepreneurs, experienced managers, and trusted investors. Its mission was to identify and acquire Polish SMEs with a solid track record and significant growth potential. The fund is led by Founder and Managing Partner Monika Wincel, supported by an international group of search fund investors from Poland, the USA, Mexico, Australia, Spain, Germany, and Belgium.

Planning a transaction?

Legal advice is important in M&A processes because it ensures risk mitigation, compliance, and optimal transaction outcomes. A legal advisor minimizes risks, negotiates favorable terms, and manages the transaction from start to finish.

M&A processes are complex and involve multiple legal and financial risks. Without professional support, deals may result in less favorable contract terms, undiscovered liabilities that the seller may be charged for in the future, or prolonged negotiations.
An experienced legal advisor not only identifies and mitigates risks but also leads negotiations and safeguards the client’s interests at every stage. This ensures smoother transactions and minimizes potential pitfalls.

Contact our M&A team for expert legal advice on your next transaction.

We are delighted to share that MFW Fiałek has been shortlisted for the fourth time as a finalist in the “European Specialist Law Firm of the Year” category at The Lawyer European Awards 2025.

This prestigious recognition places us once again among the top European law firms delivering specialist legal services, in particular in the area of transactional legal advisory. The awards ceremony will take place on 27 November 2025 at the JW Marriott Grosvenor House in London.

We are proud that the progress, results, and consistent performance of MFW Fiałek – a Polish law firm with a strong track record in M&A, private equity and cross-border transactions – continue to be recognised by international experts.

The Lawyer European Awards celebrate excellence across the legal profession in Europe, showcasing the standout achievements of independent law firms and global players operating on the Continent. Each year, the judging panel assesses firms’ strategic vision, innovation, client service, and market impact.

A big thank you to our clients for their continued trust, and congratulations to the entire MFW Fiałek team for making this possible! 👏

We look forward to meeting the other finalists in London.

👉 See the full shortlist: The Lawyer European Awards 2025 Shortlist

When preparing a company to attract an investor, it is crucial to organize corporate matters, intellectual property rights, contracts with counterparties, and to identify potential risks and issues that should be addressed before starting the investment process.

Proper preparation of the company for investment increases its attractiveness and helps achieve better transaction terms. In practice, this primarily means organizing corporate documentation (articles of association, resolutions, shareholders’ registers), clarifying intellectual property ownership (trademarks, patents, software), and reviewing employment matters and key commercial contracts with suppliers and clients.

Before entering into talks with investors, it is worth conducting an internal due diligence review to identify and resolve legal, financial, or tax issues in advance. This allows the transaction process to proceed more efficiently and gives investors greater confidence in the stability and value of the business.

At MFW Fiałek, we advise clients on how to prepare their company for investor involvement, providing legal analysis and supporting them throughout the entire process – from structuring the transaction, through negotiations, to closing.

Why prepare in advance?

The better prepared the company, the higher the chances of achieving a better valuation, a faster due diligence process, and greater investor trust. From our experience, completing formal preparations before engaging with investors can shorten the transaction timeline by several months.

If you are planning to attract an investor or sell a stake in your company, contact our M&A Team – we will be happy to help you prepare your business for the investment process and support you in discussions with potential investors.

Yes, MFW Fiałek has extensive experience with cross-border M&A projects involving both Polish and foreign companies.

Many M&A transactions involve entities operating in different jurisdictions – both investors and target companies. Our experience covers advising on projects with companies from the UK, Germany, Czech Republic, Norway, and the Baltic region countries. We have advised foreign investors entering the Polish market as well as Polish companies expanding abroad.

Thanks to our network and cross-border legal expertise, we support clients throughout the process – from transaction structuring to document negotiations.

Planning a transaction? Talk to our M&A Team

Our advice

MFW Fiałek advised Fiinu Plc. on the acquisition of shares in Everfex P.S.A.

Our advisory services included legal due diligence, preparation of transaction documentation, and comprehensive legal and regulatory advice on the Polish aspects of the transaction.

Under the terms of the transaction, the initial amount of £8 million will be covered by the issue of new shares in the Company, which will be acquired by Everfex’s holding company  Granicus Holdings O.Ü. An additional amount of up to £4 million may be paid upon the achievement of certain financial and operational results by Everfex.

The transactional team was led by Mirosław Fiałek – Partner, Wojciech Lichterowicz – Senior Associate, and Maciej Kiraga – Associate. The team also included Mariusz Domagała – Senior Associate.

The due diligence team consisted of Krzysztof Drzymała – Senior Associate, Paweł Siwiec – Senior Associate, Jakub Wilk – Associate, Franciszek Furmaniak – Junior Associate, and Maksymilian Gnat – Junior Associate.

Parties of transaction

Fiinu Plc is a London AIM-listed fintech company developing innovative digital banking solutions.

Everfex P.S.A. is a Warsaw-based company operating under the Stały Kurs brand. The company specialises in providing currency hedging solutions for small and medium-sized enterprises, particularly importers and exporters. Everfex enables clients to secure fixed exchange rates, offering competitive spreads and proactive market support to help businesses manage exchange rate risk.

Our advice

MFW Fiałek advised the V4C fund on financing of the acquisition of a majority stake (51%) in Univio S.A.

Our services included comprehensive legal advice in connection with obtaining financing, including the preparation and negotiation of facilities documentation and security documents.

The team was led by Mirosław Fiałek Partner, Mariusz Domagała Senior Associate and Wojciech Lichterowicz Senior Associate.

The team also included Paweł Siwiec – Senior Associate, Jakub Wilk – Associate, Franciszek Furmaniak – Junior Associate, Maksymilian Gnat – Junior Associate, Paulina Kucharska – Junior Associate and Agata Mulawa – Intern.

Parties of transaction

Value4Capital (V4C) is a private equity fund manager. It focuses on investments in lower-mid market service companies in Poland and other Central European EU countries. Value4Capital actively supports its portfolio companies in their organic growth and add-on acquisitions.

Univio is a Polish IT company specializing in digital transformation for enterprises. The company provides comprehensive consulting and technology services, including the implementation of B2B and B2C e-commerce solutions, business process automation, development of data-driven IT systems (including AI, BI, and machine learning), as well as cloud and integration services.

Our advice

MFW Fiałek advised Jet Investment a.s. fund on obtaining financing in connection with the acquisition of 65% of shares in Plastiwell International S.A. and its subsidiaries: Polplast Polska sp. z o.o., Tarnwell Polska sp. z o.o. and TMR Plastics sp. z o.o. The financing structure included, among other elements, the refinancing of existing indebtedness.

Our services included comprehensive legal advice in connection with obtaining financing, including the negotiation of facilities agreement and security documentation.

The transaction team was led by Mirosław Fiałek – Partner, Mariusz Domagała – Senior Associate and Wojciech Lichterowicz – Senior Associate.

In addition to the above-mentioned individuals, the team included:  Krzysztof Drzymała – Senior Associate, Maciej Kiraga – Associate, Bartosz Romanowski – Associate, Natan Fischer – Associate, Jakub Wilk – Associate, Franciszek Furmaniak – Junior Associate, Maksymilian Gnat – Junior Associate, Paulina Kucharska – Junior Associate, and Agata Mulawa – Intern.

Parties of transaction

Jet Investment is a Czech private equity firm with more than 25 years of experience, specializing in investments in the industrial sector in Central Europe. They focus on medium-sized industrial and manufacturing companies, but the scope of their investments covers a broad spectrum of industries.

Plastiwell International is recognized as the leading independent producer of plastic components in the Central and Eastern Europe (CEE) region. With over 24 years of uninterrupted market presence, it has solidified its position as the go-to provider for industry leading solutions.

Add-on transactions are acquisitions by a private equity platform to consolidate the market and increase group value.

Add-on transactions are part of a strategy to build investment platforms. They involve a private equity portfolio company acquiring additional businesses in the same sector. This allows the platform to grow faster, expand its reach, and strengthen its market position.

The benefits include economies of scale, reduced costs, stronger bargaining power with contractors, and broader product or service offerings. It is also a way to consolidate fragmented markets and create a more attractive target for a future buyer. Add-on is an alternative to organically developing a product/service within an existing company.

Planning a transaction? Talk to our M&A Team