BrazilJP Weber advises on IT and healthcare deals in Poland
Polish transaction advisory firm JP Weber has in the past weeks successfully completed two deals.
The first deal advised on is the acquisition of Polish IT companies Core Services and Prosoftlab by French information technology services group Astek International.
With offices in Wrocław and Warsaw, Core Services is a Polish technology consultancy that supports clients in Poland and beyond through outsourcing agreements in the area of software development, business analysis and IT infrastructure management. The company has expanded strongly in recent years, and last year its growth was recognised by both Deloitte (Technology Fast 50) and Polish business magazine Puls Biznesu.
Based in Wrocław, Prosoftlab is a software firm, working with clients across the full cycle of development, from building solutions to system integration, consultancy, maintenance and customer support. The Polish company focuses mainly on financial services institutions, including banks, asset managers and insurance companies.
Both groups joined Astek International late 2019, adding some 250 professionals and lifting the French group’s headcount to more than 4,000 IT professionals and engineers in 15 countries on five continent. Its Polish footprint now stands at 1,300 employees, generating €50 million in revenues. Globally, the group booked revenues of €300 million in its latest financial year.
JP Weber provided buy-side advisory to Astek International, comprising financial, legal and tax due diligence and transaction support spanning preparation, negotiation and closing services. The firm’s deal team was led by Associate Partner Piotr Dalak, supported by Tomasz Bartoszek (Director) and Izabela Janiszewska (Senior Associate). During the deal, the JP Weber team worked closely with Eight Advisory from France, whose team was led by Mathieu Morisot, a Partner at the M&A consultancy.
A deal closed with a smile
The acquisition of Smile Project at the Dental Center in Gdańsk by Lux Med – with 1 million customers one of Poland’s largest private medical healthcare service providers – is the second deal advised on. JP Weber’s team supported the buyer and consisted of Associate Partner Piotr Dalak, Director Tomasz Bartoszek and Business Advisor Maciej Pyszczek. The trio carried out due diligence and transaction support activities.
The deal is part of Lux Med’s growth strategy in the dentistry segment. Over the past twelve months, the company has opened nine own dentist facilities and bolted-on several ones, taking its total dental patient capacity to over two hundred chairs. The acquired Smile Project, which employs around 25 employees, offers a wide range of dental services and has its own modern x-ray lab.
Commenting on the deal, Lux Med leader Anna Rulkiewicz said, “Today we are the largest provider of dental services in the country. I am glad that the team of the Smile Project has joined us. Our common goal is to provide patients with the best and most comprehensive dental care.”
