Private Equity 2025 – Poland

Poland remains one of the most dynamic private equity markets in Central and Eastern Europe and 2025 is shaping up to continue this trend. The market has rebounded strongly after a slower 2023, with private M&A transactions driving activity. Investors are particularly active in IT/technology, media and telecommunications (TMT), healthcare, consumer goods and services, as well as energy, reflecting broader structural changes in the Polish economy. Recent macroeconomic developments, including falling inflation, interest rate cuts and the long-awaited release of EU recovery funds, have provided additional momentum. Defence spending at unprecedented levels and the ongoing transformation of the energy sector are also generating new opportunities for private equity investors.

At the same time, Poland’s transaction landscape reflects its unique corporate profile, where many mid-sized, family-owned businesses attract both PE funds and industrial buyers. This mix of players shapes deal structures and negotiation dynamics, with private equity investors focused on value creation and exit strategies, while strategic buyers often pursue consolidation and synergies. Tools such as warranty and indemnity insurance, once associated primarily with PE, are now widely used across M&A transactions. Taken together, these factors highlight Poland’s continuing appeal as a sophisticated and investor-friendly jurisdiction. Against this backdrop, this chapter of the ICLG Private Equity 2025 guide – co-authored by Anna Dabrowska, Izabela Zielinska-Barlozek, Bartosz Lewandowski and Krzysztof Libiszewski – provides an in-depth overview of the key legal, regulatory and market considerations shaping private equity transactions in Poland.

This chapter was originally published on 22 August in the 2025 edition of ICLG – Private Equity.