About ACP

Flexible financing solutions with a partnership approach
Proud signatories of the UN’s Six Principles for Responsible Investment

Our Business

We back growing mid-market businesses in Central Europe 

Accession Capital Partners (ACP), formerly known as Mezzanine Management, pioneered private debt in Central Europe in 2000 and has since evolved to become a one-stop-shop for growth capital to mid-market businesses. We have successfully invested over EUR 1 billion across five funds, helping regional businesses grow organically and through acquisition; domestically and abroad.

We started out providing mezzanine finance alongside financial sponsors. The region has grown a lot since then, and so have we: today we provide all types of funding depending on what best suits a particular business at a specific point in its development. Nowadays half of our deals are done alongside a financial sponsor; the other half sees us providing a single-institution solution to growing businesses.

While a lot has changed in 24 years, a lot has stayed the same – namely our relationship-based approach. Being first-to-market means we have the experience to truly understand the markets which has made us a ‘preferred partner’ for regional financial sponsors and advisory firms.

Our People

An experienced, stable and motivated team of seasoned investment specialists

Our team comprises eighteen investment professionals across five regional offices. The team has developed unrivalled business and financial networks across the region, enabling a wide ranging proprietary deal flow for our clients as well as coverage of the spectrum of commercial and financial activity in the region.

Since 2000 Franz has been the Chairman and CEO of Accession Capital Partners GmbH. From 1992 to 1999 he was a Managing Director at Bank Austria Group for commercial banking/ international network management and from 1997 onwards a member of the managing board. From 1981 to 1991, he held various positions in the international division of the Austrian Creditanstalt Group, among others, deputy general manager at the Creditanstalt branch in New York. Franz holds a Masters and a Doctorate in economics from the Vienna University of Economy and World Trade.
Franz Hoerhager

Founding Partner & ChairmanVienna

Przemek has more than fifteen years of experience in corporate finance and audit in CEE. He started his professional career in Ernst & Young Audit and Corporate Finance before joining Accession Capital Partners in 2005. In 2008, Przemek launched the Kiev office and heads the Polish office since 2015. He is also responsible for restructuring efforts and special situations in the portfolio. He has been responsible for numerous AMC investments such as Telelink, Ceres, Invia, Dominium, PEM, Spearhead, Flucar, Nettle, Netrisk and ATM. Przemek holds a Master degree in Finance and Banking from the Warsaw School of Economics and has pursued study programs in the U.S. and the Netherlands.
Przemyslaw Glebocki

Managing Partner, CIOWarsaw

Chris is a Partner of Accession Capital Partners GmbH. Prior to joining Accession Capital Partners GmbH, he was Erste Bank's Prague-based head of acquisition finance for CEE from 2000 until 2005 and significantly responsible for establishing and maintaining a leading market position. Previously he worked in private equity and acquisition finance teams at Erste Bank and HSBC in London.

Chris holds a Bachelor degree in banking & finance from Loughborough University and a diploma in Marketing from the Chartered Institute of Marketing (UK).
Chris Buckle

Partner, CROVienna / Prague

Piotr Sadowski CFA, is a Partner at Accession Capital Partners and the Head of Baltic Region.

Since joining Accession Capital Partners in 2008, Piotr participated and has been responsible for investments in a Polish road maintenance company, IT equipment distributor, telecommunication company in Bulgaria, international capital goods producer, Poland’s leading car leasing company, consumer finance businesses in the region and commercial cooling equipment producer. Piotr started his career at Ernst & Young Poland.

Piotr graduated from the faculty of Quantitative Methods and Information Systems at the Warsaw School of Economics. He also pursued a study program at the Stockholm School of Economics.
Piotr Sadowski

Partner, Head of Baltic RegionWarsaw

Christian has more than eleven years of experience in investment banking and private equity.

Before joining Accession Capital Partners in 2010, Christian worked as Associate at M Cap Finance, a Frankfurt-based mid-market mezzanine fund. His key responsibilities included assessment of deals, financial modelling, due diligence and structuring of transactions. Christian started his career at Unicredit’s Markets and Investment Banking division focusing on transactions in Austria and CEE.

Christian holds a Masters Degree from the University of Economics and Business Administration in Vienna.
Christian Stix

Partner, Head of Investor RelationsVienna

Jakub Chechelski is a Partner at Accession Capital Partners in Poland. He has fifteen years of experience in corporate finance and private equity.

Jakub joined Accession Capital Partners from Bridgepoint, a leading European mid-cap fund where he spent over 6 years, covering the CEE region and working on a variety of projects. Prior to that he worked at Enterprise Investors, a leading CEE-focused fund. His sector experience is particularly strong in the consumer as well as business services space.

Prior to his first role in private equity, Jakub worked for Ernst & Young Corporate Finance.

Jakub graduated from faculty of Finance and Banking at the Warsaw School of Economics.
Jakub Chechelski


Marko Mitrovic is a Partner at Accession Capital Partners responsible for the firm's investments in the Western Balkans and Bulgaria.

Before joining ACP in 2019, Marko focused on restructurings and special situations, working in most countries of Central and Southeast Europe as well as in the United States, most recently at the European Bank for Reconstruction and Development. During his career, Marko also served as CEO and CFO in companies with EUR 50-200 million in revenues.

A graduate of City University, Marko has written a book about restructuring and is a member of the International Insolvency Institute.
Marko Mitrovic


Nika is an investment Associate of Accession Capital Partners, since 2024, with a primary focus on the Balkan region. Prior to joining ACP, Nika worked for Arthur D. Little as a Business Analyst, focussing on deals in the Telecommunications sector.

Originally from Slovenia, Nika pursued her BSc in Economics and Business, graduating with honours and a double degree from Kyungpook National University in South Korea. Post graduation she worked as a Business Development Manager in a fast-growing, early stage InsureTech start-up.

Nika holds an international MSc in Management from Catolica Lisbon School of Business and Economics.

Nika Hribernik

Investment Associate Vienna

George has more than fourteen years of professional experience in corporate finance and joined Accession Capital Partners in September 2021.

Before joining Accession Capital Partners George was director with KPMG Romania in the Deal Advisory department, coordinating the M&A and valuation practices.

George holds a Bachelor degree in accounting from Bucharest University of Economics. He is a member of the Association of Chartered Certified Accountants (UK) and the National Association of Authorized Appraisers in Romania.
George Dumitrascu

Head of Romania, Investment DirectorBucharest

Radana is an Investment Relations & ESG Manager of ACP since 2024. Previously, she worked as an independent strategy and fundraising consultant for corporate, start-up as well as NGO clients from Europe, Asia and the US. Prior to that, she worked at Rocket Internet ventures in Africa and Asia and at an early stage venture capital firm in Austria.

Radana comes from Slovakia and holds Master degree in Law from Comenius University in Bratislava. .
Radana Cheret

Investor Relations and Head of ESGVienna

Laszlo represents Accession Capital Partners GmbH in Hungary and has 20+ experience in investment banking and private equity.

Before re-joining ACP in 2020 Laszlo started his own SME-focused business support venture. During his earlier tenure at ACP, he looked after transactions in Hungary and in the Western Balkan. Laszlo sources investment opportunities in Hungary. He is a passionate volunteer of good causes.

Laszlo has obtained a MBA degree from the US. Besides the Weatherhead School of Management Laszlo attended INSEAD’s and CEU’s Business Administration master programs.
Laszlo Olah

Director Budapest

Cristian is an Investment Manager of Accession Capital Partners in Romania. He served on the board of directors of Carpatina.

Cristian has more than twelve years of experience in corporate finance and audit in CEE. Prior to joining Accession Capital Partners, Cristian worked in the financial advisory team of Deloitte Romania between 2005 and 2010, specialising in due diligence, business valuation and debt advisory. Previously he spent three years with KPMG Audit in Bucharest.

Cristian holds a Bachelor degree in banking & finance from Bucharest University of Economics. Between 2006 and 2012 he was a member of the Association of Chartered Certified Accountants (UK) and also pursued a study program at the American Society of Appraisers (US).
Cristian Stejar

Investment ManagerBucharest

Since joining Accession Capital Partners in 2011, Dmytro participated in numerous investment projects in different sectors across CEE with a focus on the Baltics and Poland. Earlier Dmytro worked for Ernst & Young over four years initially in the Audit practice and subsequently in Transaction Advisory. During his work at Ernst & Young, Dmytro participated in engagements in Ukraine, the Russian Federation and Republic of Belarus.

Dmytro is a graduate of Lviv Polytechnical University with a Master’s degree in Management.
Dmytro Kistechko

Investment ManagerWarsaw

Irena is an Investment Associate of Accession Capital Partners in Poland since 2024. Prior to joining ACP, Irena worked as an Investment Associate at Qemetica (previously Ciech Group), Poland’s leading chemical company. She has been responsible for origination and investments in Europe. Earlier she spent 3 years at Deloitte in Financial Advisory, focusing on valuation and financial modeling. She started her career at Capital One Advisers as a M&A Analyst, working on sell side deals.

Irena is a graduate of chemical engineering from AGH University in Cracow, and holds a Master degree in Finance and Accounting from the Warsaw School of Economics.

Irena Dobrowolska

Investment AssociateWarsaw

Karol has more than six years of experience in corporate finance in CE and joined Accession Capital Partners in early 2015. Between 2010 and 2015, he worked for well-known M&A advisory house Ernst & Young Corporate Finance in Warsaw, and before 2010 he worked for Deloitte.

Karol holds a Masters degree from the University of Economics in Poznan, Bachelor with Honours degree from the Abertay University and pursued study programs at the Harvard University.
Karol Kaminski

Investment ManagerWarsaw

Artur is an Analyst of Accession Capital Partners in Poland.

Prior to joining Accession Capital Partners on a permanent basis he successfully completed a professional internship at the firm’s Warsaw office. He is responsible for the analysis and screening of potential investment opportunities, as well as for devising business strategies to support portfolio companies in achieving their performance objectives.

Artur holds a Bachelor of Business Administration degree from the Schulich School of Business in Toronto, and a Master of Finance degree from the Lviv Polytechnic National University.
Artur Rusiyan


Paul is Group Chief Financial Officer of the Accession Capital Partners and has more than thirteen years accounting experience in private equity funds services and audit.

Between 2014 and 2019, Paul worked as a senior reporting manager at a private equity fund administrator across the Channel Islands, Luxembourg and Sweden, managing client reporting requirements as well as being responsible for technical accounting matters and quality control.

Prior to 2014, Paul worked in Financial Services Audit in Guernsey for Ernst & Young for six years.

Paul is a Certified Charted Accountant (FCCA) and holds a Physics degree from the University of Leicester.
Paul Moss

Chief Financial Officer Vienna

Iain heads the Luxembourg office as the Finance Director, embodying our steadfast commitment to Luxembourg as a prime jurisdiction for ACP's investment strategies.

With over a decade of invaluable experience gained in both Luxembourg and the UK, Iain's tenure at esteemed administration firm Aztec Group underscores his expertise and dedication to our mission.

Iain is a Certified Chartered Accountant (FCCA) and holds a degree in Accounting & Finance from the Robert Gordon University.
Iain Smith

Finance DirectorLuxembourg

Nick is an Investment Manager of Accession Capital Partners with a primary focus on the DACH region and joined the firm in 2024. Prior to joining ACP, Nick worked in the Investment Banking division at Citi in Frankfurt with a focus on industrials and business services. He also spent time in the Corporate Banking division at Citi, working on several debt and leveraged finance transactions in the industrials space.

Nick holds Master’s degree in finance from ESSEC Business School (Paris, France) and a Bachelor’s degree in General Management from the EBS Business School (Frankfurt, Germany).

Nikolaus Labak

Investment Manager Vienna

Ludwig is part of the Investor Relations Team of ACP since 2023, in which he contributed to the successful final closes of the latest two Funds. Previous to his employment, he received his education in the United Kingdom and studied Politics and International Relations at the University College London (UCL), Throughout his BSc he has conducted numerous internships, ranging from politics, foreign affairs and finance to interning at a mining company.
Ludwig Henckel

Investor Relations Vienna

Our Funds

Accession Capital Partners is a pioneering, independent investment advisory firm, with a focus on Central Europe. Funds we advise provide tailored financing solutions to established mid-market businesses and small and medium enterprises. Accession Capital Partners helped to create and now advises five successful mezzanine funds: Accession Mezzanine Capital I, II, III as well as Accession Capital Partners IV & V.

  • EUR +335m committed since 2022
  • 6 INVESTMENTS in direct portfolio
  • EUR 264m committed since 2017
  • 14 INVESTMENTS in direct portfolio
  • EUR 200m committed since 2011
  • 16 INVESTMENTS in direct portfolio
  • EUR 261m committed since 2007
  • 17 INVESTMENTS in direct portfolio
  • EUR 115m committed since 2002
  • 12 INVESTMENTS in direct portfolio

Regional Expertise

Central Europe – Europe’s fastest growing region

During our 20+ years of investing experience in the region, our Group has become the regional leader in Alternative Financing. With 5 country offices, the breadth of our coverage is our forte.
ACP map


Accession Capital Partners sp.z o.o
Zlota 59, 00-120 Warsaw, Poland

Tel: +48 22 654 6415
Fax: +48 22 654 6415


Accession Capital Partners s.r.o.

ArchiHUB, Puskinovo namesti 681|3, 160 00 Prague 6 - Bubenec, Czech Republic

Tel: +420 605 737052
Fax: +43 1 532 899020


Accession Capital Partners GmbH
Kohlmarkt 5/6, 1010 Vienna, Austria

Tel: +43 1 532 8990
Fax: +43 1 532 899020


Accession Capital Partners Hungary
Károly körút 5/a, 1075 Budapest, Hungary

Tel: +36 (30) 303 6781
Fax: +36 1 475 1111


Accession Capital Partners Romania
40 Pictor Barbu Iscovescu Street, second fl. 011938 Bucharest 1st district, Romania

Tel: +40 21 230 3219
Fax: +40 21 230 3226

A convergence play

We advised on mezzanine and associated private equity investments in countries which acceded to the European Union in 2004 and 2007, and we have a regional presence in Central and Eastern Europe for over 20 years.

Reasons for growth finance in Central Europe

Three equally important factors qualify the need for growth finance in Central Europe:

  • Improved macroeconomic, regulatory, and legal framework in Central Europe which allows for strong growth, even in a difficult global market environment
  • The region is underserved by traditional lenders, as Basel III regulations have had a negative effect on bank preparedness to lend generally, and to mid-caps in particular, therefore opening space for alternative capital providers
  • A funding gap resulting from a limited number of dedicated non-bank providers of non-equity term finance for growing companies

Response to the scarcity of classical funds

Investments are well differentiated across sectors within the region. Anticipating the growing opportunity for high-grade investments along with regional convergence, the credibility and demand for private debt will correlate in growth. This will occur – particularly as other sources of financing temporarily withdraw from the market or contract as a result of the financial crisis – and as the availability of increasingly attractive pricing is realised from an improved risk/return profile.

Local know-how

Doing business in a fragmented region comprising numerous countries, languages, legislations, economic frameworks and currencies such as Central Europe, requires the utmost dedication and expertise. The cumulated experience of our team provides for a structured business approach, and a long-term growth perspective.

We create a tailored solution for each partnership instead of offering a rigid off-the-shelf product.


If you want to talk to us about anything please contact us.