Key Takeaways
- • Akin advised Energy Equation Partners (EEP) and Stonepeak on the acquisition of Anwim S.A., a leading Polish fuel company, from private equity firm Enterprise Investors, marking the exit of an 8-year investment that began with a minority stake in 2018 and grew to majority control by 2020.
- • The transaction demonstrates continued momentum in the EEP-Stonepeak partnership, which completed a €2.5 billion majority acquisition of JET Tankstellen Deutschland GmbH from Phillips 66 in 2025, signaling aggressive expansion into European fuel retail and distribution infrastructure.
- • Akin's engagement spanned corporate, antitrust, and tax advisory functions, with senior leadership including corporate partner Shaun Lascelles, antitrust partner Davina Garrod, and tax partner Natasha Kaye, alongside Polish counsel Rymarz Zdort Maruta, reflecting the cross-border complexity of the transaction.
- • The deal represents Enterprise Investors' strategic exit from a long-held European energy infrastructure asset in Poland's competitive fuel sector, positioning Anwim under ownership by two major infrastructure-focused alternative investment firms.
Summary
Akin Gump Strauss Hauer & Feld has advised Energy Equation Partners and Stonepeak on their acquisition of Anwim S.A., Poland's prominent fuel company, from Enterprise Investors. The transaction concludes an eight-year investment cycle for Enterprise Investors, which initially acquired a significant minority stake in Anwim through Polish Enterprise Fund VIII in 2018 before expanding to majority control in 2020. The current sale marks the fund's exit from the asset.
The acquisition reflects the strategic direction of the EEP-Stonepeak partnership in European energy infrastructure. The two firms completed a €2.5 billion majority stake acquisition of JET Tankstellen Deutschland GmbH from Phillips 66 in 2025, establishing a pattern of consolidation in continental European fuel retail and logistics. Anwim's acquisition extends this footprint into the Polish market, a high-growth segment within Eastern Europe's energy distribution landscape.
Akin's advisory team was structured across three functional areas. Corporate counsel led by partner Shaun Lascelles—including counsel Charlotte Irvine and Andrew Finogin, alongside associates Shahnur Chauhan and Gloriya Andonova and international trade associate Simi Malhi—handled primary transaction mechanics. Antitrust and international competition work was directed by partner Davina Garrod with senior counsel Savas Manoussakis and counsel Marianna Meriani, addressing regulatory clearance in Polish and EU frameworks. Tax advisory was led by partner Natasha Kaye with counsel Mo Natha and associate Ivan Jelocnik. Polish counsel Rymarz Zdort Maruta provided parallel domestic legal counsel, underscoring the cross-border nature of the transaction.
The acquisition underscores continued institutional investor interest in European energy infrastructure assets, particularly fuel distribution networks positioned for operational efficiency gains under alternative investment ownership. No transaction value was disclosed in the announcement.
The acquisition reflects the strategic direction of the EEP-Stonepeak partnership in European energy infrastructure. The two firms completed a €2.5 billion majority stake acquisition of JET Tankstellen Deutschland GmbH from Phillips 66 in 2025, establishing a pattern of consolidation in continental European fuel retail and logistics. Anwim's acquisition extends this footprint into the Polish market, a high-growth segment within Eastern Europe's energy distribution landscape.
Akin's advisory team was structured across three functional areas. Corporate counsel led by partner Shaun Lascelles—including counsel Charlotte Irvine and Andrew Finogin, alongside associates Shahnur Chauhan and Gloriya Andonova and international trade associate Simi Malhi—handled primary transaction mechanics. Antitrust and international competition work was directed by partner Davina Garrod with senior counsel Savas Manoussakis and counsel Marianna Meriani, addressing regulatory clearance in Polish and EU frameworks. Tax advisory was led by partner Natasha Kaye with counsel Mo Natha and associate Ivan Jelocnik. Polish counsel Rymarz Zdort Maruta provided parallel domestic legal counsel, underscoring the cross-border nature of the transaction.
The acquisition underscores continued institutional investor interest in European energy infrastructure assets, particularly fuel distribution networks positioned for operational efficiency gains under alternative investment ownership. No transaction value was disclosed in the announcement.
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