Knowledge bank

Every year since 2006 AVALLON has prepared, in collaboration with FORBES, ranking of the largest management buyouts (MBOs) and leveraged transactions (LBOs), which have taken place in the Polish market in the previous year. The ranking is published annually in the May issue of Forbes magazine.

Ranking 2005
Ranking of the largest MBOs and LBOs implemented in Poland in 2005

Ranking 2006
Ranking of the largest MBOs and LBOs implemented in Poland in 2006

Ranking methodology

1. Subject of the transaction:  the organised purchase of shares or of a whole enterprise from the current owner(s)

2. Transactions are related to entities based in Poland or conducting most of their operations in Poland

3. A leading entity in the buyout is not a sector investor

4. Managers participate in the buyout and engage their own financial resources (or have the opportunity to subscribe for shares through options)

5. Buy-outs are distinguished by type:

• MBO (Management Buy Out) - the leading role played by managers in the buyout
• LBO (Leverage Buy Out) - leveraged transaction, significant use of debt financing
• IBO (Institutional Buy Out) - redemption executed by a financial investor