We guide our Clients in recognizing optimal prospects for acquisitions, divestitures, or strategic collaborations. Our approach involves customizing the finest strategies and timing to ensure the attainment of optimal outcomes.

The foremost mergers & acquisitions, strategy and corporate finance advisor for small and medium-sized enterprises.


Excalibur Capital has been delivering mergers & acquisitions, corporate finance, and strategic advisory services to entrepreneurs and small to medium-sized enterprises across Poland and the Central and Eastern European region since 2014.


Our Team

Our team has several decades of accumulated experience in various branches of investment banking and corporate finance, as well as operating positions in different industries. The complementarity of our expertise allows us to offer tailor-made and top quality services. Drawing from our extensive track record of serving numerous global leaders, we offer our experience to businesses of all scales.

Michał Portalewski
Managing Partner

Michał has been working in investment banking, specialising in raising capital, as well as handling Mergers and Acquisitions and strategic management.


He developed his management skills in managerial and consulting positions in companies in the financial and manufacturing industries.

Michał organized and carried out capital raising processes with a total value of several hundred million zlotys in the form of equity and debt capital, including in the form of bond and share issues.

He provided services to companies listed on the Warsaw Stock Exchange. He cooperated with investment and pension funds, private equity funds in Poland and Central and Eastern Europe.


Paweł Pawłowski
Partner Zarządzający

Paweł has been involved in corporate finance and investment banking for many years. Prior to founding Excalibur Capital, he worked in management positions at financial institutions in London and Poland.


He gained previous professional experience in Polish and foreign companies operating in the Central and Eastern European region.

He was responsible for handling M&A transactions, Project Finance, corporate financial restructurings and the purchase and sale of financial instruments on the private market. Serving as managing director of the Polish branch of London-based investment bank Gryphon Emerging Markets, he took part in the implementation of many transactions, including those exceeding several billion zlotys in value. Prior to that, he worked at Church&Co for nearly 7 years, first as an Accociate and then as a Partner in the firm.

He completed the ACCA course at Elite College in London, and attended and passed the Corporate Finance Consultancy exam held at the FSA in the UK.


Marcin Tobor
Dyrektor

An experienced practitioner who has built a portfolio of experience in France and Poland in the areas of corporate finance, investment funds and investment banking.


An expert with nearly 20 years of experience working in France and Poland. His professional path includes working for renowned European companies in various sectors, such as HoReCa, pharmaceuticals, construction and consulting. He also gained valuable experience working for investment funds and financial institutions.

His areas of expertise include financial management, comprehensive corporate consulting, complex equity investments and M&A liquidity.

He has earned his CFA® (Chartered Financial Analyst) certification.

In addition to his native language, Marcin is fluent in English, French and German, making him an excellent partner in international negotiations.


Tomasz Zaręba
Associate Menedżer

Experienced expert with a successful track record of conducting transaction processes for clients in a holistic manner.


He has over 8 years of experience in corporate finance and financial modeling.

He has led more than a dozen projects being responsible for the efficient execution of Due Diligence processes, creation of realistic forecasts of clients' financial results, conducting valuations of companies, searching for and attracting investors and financing institutions. He was involved in the processes of acquiring financing for Polish entrepreneurs in the formula of equity, debt and grants with a total value of several hundred million PLN.

Before joining Excalibur Capital, he gained experience in investment banks and one of the largest Polish consulting firms.

He is a candidate for the prestigious U.S. CFA® (Chartered Financial Analyst) program, a certificate of financial analyst in corporate finance and asset management, in the process of completing the second of three levels of certification.


Bartosz Kiejrys
Associate

He is passionate about the practice and theory of finance, especially mergers and acquisitions, at which he started working as early as his 2nd year of undergraduate studies, in 2017.


During his studies, he distinguished himself with wide extracurricular activity. From the 1st year of studies, he belonged to one of the oldest scientific clubs in Wroclaw focused on the finance.

The theory and practice of finance, especially in the area of Mergers and Acquisitions is his genuine interest. Just in his 3rd year of undergraduate studies, he completed Level 1 of the prestigious international Chartered Financial Analyst exam at the earliest possible formal date.

He studied at the Wroclaw University of Economics, where he was one of several people admitted to the individual specialization "Capital Markets - advanced level" under the direction of Prof. K. Jajuga. He defended his bachelor's thesis with the title "Valuation of Non-Public Enterprises".

In addition, he studied at the American John L. Grove's College of Business, where he completed a series of classes in Leadership and Decision Making, Negotiation, Investment and Accounting.

He completed his master's degree at Kozminski University in Warsaw, majoring in Finance and Accounting (specializing in Corporate Finance) in English, ranked 17th in the world in 2018 by the Financial Times.


Rafał Goluch
Starszy Analityk

Rafal has expertise in both corporate and commercial real estate M&A transactions.


He has been gaining experience in investment banking since early 2020. He supported Polish and international clients, family businesses and companies listed on the Warsaw Stock Exchange in M&A transactions.

Previously, he supported clients in the purchase and sale of commercial real estate transactions while working for an international consulting firm, in the Research & Advisory and Capital Markets departments.

He defended his master's thesis at the Warsaw School of Economics, majoring in Quantitative Methods in Economics and Information Systems. In addition, he completed postgraduate studies in real estate valuation at the Warsaw University of Technology.

He focuses on expanding his knowledge of investing in capital markets, of which he is an active participant.


Michał Hajduk
Starszy Analityk

Experienced professional advising on debt financing, mergers and acquisitions and financial modeling.


He joined Excalibur Capital in 2023, and prior to that, from an Associate position, he worked as an advisor at Mazars in the financial advisory department. In this role, he was involved in M&A projects in the telecommunications, healthcare and pharmaceutical sectors in Central and Eastern Europe. He also provided valuation and financial modeling services to fintechs and financial institutions. He worked as an analyst at Oakway Europe, focusing on strategic consulting and securing debt financing for European commercial real estate projects. Prior to that, he held internships at JLL and Ghelamco in Warsaw.

He holds a master's degree in finance from GBSB Global Business School and a bachelor's degree in civil engineering from HZ University of Applied Sciences. He speaks Polish, English and Italian.


Łukasz Mikuła
Analityk

Lukasz is a finance enthusiast who graduated from the Warsaw School of Economics, where he was actively involved in various projects within the university's scientific clubs.


In 2020, he began his professional career in the industry, where he focused on handling and optimizing internal fund processes for corporate clients. In the same year, he graduated from the Warsaw School of Economics, where he was active as a member of both the Investor's Club and the Student Business Academic Circle.

He took part in the "High School Business Challenge" initiative, a nationwide competition aimed at assessing the business aptitude of high school students, as well as the "Stock Exchange Academy", aimed at capital markets enthusiasts, which included a series of lectures given by experts from renowned investment industry companies.



Global Reach

We cooperate on a daily basis with over 200 talented professionals from our trusted network of international financial advisory firms operating on 4 continents. This gives us access to developed regions around the world, enabling us to provide services with a global reach not available to other firms.

Learn more
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Birmingham : United Kingdom
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Melbourne : Australia
RA Capital
San Diego : USA
Network Corporate Finance
Dusseldorf : Germany
Largilliere Finance
Paris : France
MAPE Group
Chennai : India
Quore Capital
Amsterdam : BeNeLux
Scouting Capital Advisors
Bologne : Italy
ProRate
Bratislava : Slovakia
ProRate
Prague : Czech Republic
Metro Ascent
Hong-kong
Frontier Management
Tokyo : Japan
Transcend Corporate
Birmingham : United Kingdom
Presser & Co
Melbourne : Australia
RA Capital
San Diego : USA
Network Corporate Finance
Dusseldorf : Germany
Largilliere Finance
Paris : France
MAPE Group
Chennai : India
Quore Capital
Amsterdam : BeNeLux
Scouting Capital Advisors
Bologne : Italy
ProRate
Bratislava : Slovakia
ProRate
Prague : Czech Republic
Metro Ascent
Hong-kong
Frontier Management
Tokyo : Japan