Which transactions, in your opinion, scored greatest success in Poland and why?
First, let’s define what we mean by a transaction success. In a very simple this will be adding value for shareholders or sponsors of the project, which can be verified after an agreed time by a reverse transaction or an appraisal. Or by reaction of the public company’s share price to the announcement/conclusion of the transaction. More widely – reaching numerical and soft objectives, defined in advance. What was considered to be a greatsuccess upon the transaction conclusion, may turn into a Pyrrhic victory from the time perspective.
There are many examples of successful transactions in Poland, both private ones and privatisations. Among those with closed positions and realised profits, let me mention the Abris Capital Partners’ investment in Alumetal. And out of those building long term value and competitive position – a series of Maspex transactions, starting withacquisition of Kubus still in 1995, through the takeover of Lubella (2004) and many others. They demonstrate that acquisitions are a part of the Maspex development strategy, and the company pursues them very rationally, building success in the long-term perspective.
What would be your message to a PR expert, who wants to deal with communication in the merger and overtaking process? Is there any „golden advice”?
The key is to comprehend expectations and build relations with persons involved in the transaction: starting from the sponsor, leader, to end up with the leading advisor. Later, getting familiar with the environment in which the client operates and the purpose of the transaction. This is of major importance for cooperation with the PR advisor, especially in the „hot moments” of the process.
Do you believe that companies and experts responsible for the merger and takeover transactions need Public Relations services? If so, why?
Demand for PR services comes up in case of bigger, more complicated transactions. Especially when we talk about entry onto foreign markets and/or work with public companies. It is here that the game is played on may fields, and the stake is high – it is not worth ignoring the communication aspect.
“Piotr Olejniczak has been active as a corporate finance advisor from 1994. He advised Polish clients and international corporations on the occasion ofseveral M&A transactions, privatisations as well as consolidation and restructuring projects, also abroad (France, Germany, Ukraine). Recently, he was a Director in the Capital Markets Departmentin IPOPEMA Securities and cooperated with and international network of advisory companies http://www.mergers-alliance.com/. Earlier he worked for KPMG Corporate Finance (Associate Director), BRE Bank (presently mBank) and started his career with Doradca Consultants Ltd. He is the Master of Economics (University of Gdansk, diploma cum laude) and completed post graduate studies in corporate and capital markets law (Warsaw University). For more details see https://www.linkedin.com/in/piotr-olejniczak-41b4681”