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.


Michał Portalewski is the Managing Partner and founder of Excalibur Capital, a Polish M&A advisory boutique he established in 2014. The firm advises on sell-side and buy-side mandates and broader financial advisory across Polish and Central & Eastern European markets. Michał brings nearly 20 years of experience in M&A and financial advisory. Prior to founding Excalibur Capital, he held roles at several advisory boutiques, building deep expertise in valuation, transaction structuring, and capital raising across a range of industries. Over the course of his career, he has advised on several dozen transactions and financing assignments with a combined value in excess of PLN 5 billion, spanning both corporate acquisitions and divestitures as well as debt and equity financing mandates. His primary focus is the Polish and CEE mid-market, with sector depth across industrials, food & beverage, technology, energy, and healthcare.


Paweł Pawłowski
Managing Partner

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.


Paweł gained professional experience at Polish and foreign companies operating in Central and Eastern Europe.

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 participated in the execution of numerous transactions, including those exceeding several billion zlotys in value. Before that, he worked at Church&Co for nearly 7 years, first as an Associate and then as a Partner in the firm.

Paweł completed the ACCA course at Elite College in London and passed the Corporate Finance Consultancy exam held by the FSA in the UK.


Marcin Tobor
Partner

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.


Agata Wąsowska
Chief People Partner

Over a dozen years of experience in strategic advisory within the People & Culture domain, with a particular focus on organizational transformations, cultural integrations, and building team engagement.


She has developed her career in both Polish and international dynamic environments – from global corporations to fast-growing scale-ups – managing international teams and delivering complex projects across Central and Eastern Europe, Belgium, Italy, Germany, Scandinavia, and the United States. She has experience working with a variety of sectors, including consulting, technology, and professional services.

Agata is an assessor, a management and coaching expert, and emphasizes the synergy between people, processes, and business goals.


Marcin Pokorski, PhD
Director

M&A and corporate finance advisor with over 15 years of experience in investment banking, transaction advisory and strategic M&A.


Prior to joining Excalibur Capital, Marcin held senior roles in investment banking and M&A, including VP/Director at Pekao Investment Banking and M&A boutiques. His experience includes sell-side and buy-side M&A and ECM transactions, MBO/LBO processes, project finance, financial modelling, valuation and due diligence coordination. He advised and led transactions across a broad range of sectors, including manufacturing, engineering services, energy storage, healthcare, retail, technology and industrials.

He holds a PhD in Economics and an MA in Finance and Banking from the University of Warsaw. He is also passed all three levels of the CFA Program.


Jakub Święcicki
Director

M&A and corporate finance advisor with over 12 years of experience executing complex cross-border transactions across Europe


Prior to joining Excalibur Capital, Jakub worked at a top-tier international investment bank, advising listed and privately held companies, private equity funds, and institutional investors on complex transactions. His experience spans sell-side and buy-side M&A, carve-outs, private equity processes, and capital markets mandates. Sector coverage includes industrials, energy and infrastructure, transport, real estate, and consumer goods. He has also advised clients on debt refinancing and capital structure optimisation.

At Excalibur Capital, Jakub leads sell-side processes and strategic advisory assignments, working directly with founders, owners and shareholders, and management teams. He combines experience from leading capital markets institutions with deep expertise in mid-market transactions, with particular focus on cross-border processes where structuring complexity and investor positioning are critical to the outcome. He holds an MSc in Finance and Accounting from the University of Southern Denmark and a BEng in Management and Production Engineering from Łódź University of Technology


Majka Rucińska
Senior Manager

M&A and corporate finance advisor with over 10 years of experience executing transactions across Central and Eastern European and Western European markets.


Prior to joining Excalibur Capital, she worked in investment banking, private equity, international investment advisory, and as a transactional lawyer. She has advised public and private companies, private equity funds, and institutional investors on M&A and capital markets transactions. Her experience spans sell-side and buy-side M&A, management buyouts (MBOs), public-to-private transactions, carve-outs, joint ventures, auction processes, ECM/DCM and debt financing projects. At Excalibur Capital, she leads transaction and strategic advisory projects, working directly with business owners, investors, and management teams. She combines financial and legal expertise, applying it to deal structuring and risk assessment in M&A processes. She is a co-founder and President of WOM&AN, Association for Women in M&A. She is a graduate of the Warsaw School of Economics, holding a master's and bachelor's degree in Finance and Accounting as well as a postgraduate degree in business valuation, and holds a master's degree in Law from the University of Warsaw. She has passed all levels of the Chartered Financial Analyst (CFA) and Chartered Alternative Investment Analyst (CAIA) exams.


Michał Hajduk
Associate Manager

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.


Rafał Goluch
Associate Manager

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.


Łukasz Mikuła
Senior Analyst

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.


Przemysław Bury
Senior Analyst

M&A and corporate finance professional with experience in transaction advisory, financial analysis and strategic consulting.


Przemysław gained experience at McKinsey & Company and PwC, supporting analytical, financial and operational projects. His background includes work on M&A projects, financial due diligence and transaction execution across advisory and consulting environments. He holds degrees in Finance and Accounting as well as Business Development Strategy from the Cracow University of Economics and completed the ACCA Accelerate programme at SGH Warsaw School of Economics.


Mateusz Ochnio
Analyst

M&A analyst with experience in transaction advisory, financial analysis and capital markets research. His background includes work on investment analysis, macroeconomic forecasting and market development projects within both advisory and financial institutions.


Prior to joining Excalibur Capital, Mateusz gained experience at bValue Fund, the Warsaw Stock Exchange and the National Bank of Poland, where he worked on market research, economic analysis and financial modelling projects. He holds a degree in Economics from The University of Manchester and has completed quantitative and data analysis programmes, including Data Analysis with Python by IBM.


Bartosz Budny
Analyst

M&A analyst with experience in sell-side advisory, valuation and financial modelling.


Prior to joining Clairfield International, Bartosz worked in corporate finance and capital markets roles at Baker Tilly TPA and Citi Private Bank. His experience includes company valuation, market analysis, transaction documentation and investor communication. He has supported transactions across healthcare, medtech and manufacturing sectors, including preparation of investment materials, financial analyses and due diligence processes. He is a CFA Level II candidate and holds degrees from the Warsaw School of Economics and Lille Catholic University.


Eryk Stryjak
Analyst

M&A and investment analysis professional with experience in transaction advisory, financial analysis and market research. He has supported M&A projects through preparation of teasers and information memoranda, valuation analysis and investor research.


Prior to joining the advisory industry, Eryk gained experience at Navigator Capital, IPOPEMA Securities and Market One Capital, where he worked on investment analyses, market research and financial data evaluation. He holds a degree in Management from the University of Warsaw.


Maja Musur
Junior Analyst

Finance student with strong analytical and organisational skills and a particular interest in financial markets and investment advisory. She combines academic knowledge with a proactive approach to teamwork, communication and problem solving.


Maja is currently studying Finance, International Investment and Accounting at the University of Warsaw. She is fluent in English (C1 IELTS certified) and has developed practical competencies in project organisation, teamwork and digital content creation.


Bartłomiej Moździoch
Junior Analyst

Finance and investment analysis professional with a strong interest in M&A, valuation and financial markets. His experience includes company valuation, financial and non-financial due diligence, and investment research focused on the Polish market.


Bartłomiej is currently pursuing a degree in Finance and Accounting at Kozminski University. He has developed practical analytical skills through investment activities, participation in finance-related projects and academic initiatives focused on corporate finance and M&A.



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.

RA Capital
San Diego : USA
Network Corporate Finance
Dusseldorf : Niemcy
Quore Capital
Amsterdam : BeNeLux
Scouting Capital Advisors
Bolonia : Włochy
RA Capital
San Diego : USA
Network Corporate Finance
Dusseldorf : Niemcy
Quore Capital
Amsterdam : BeNeLux
Scouting Capital Advisors
Bolonia : Włochy