Ecologic, a Warsaw-based SaaS company founded in 2013 and specialising in fleet telematics and eco-driving, serves more than 30,000 vehicles and over 300 corporate clients including Unilever, British American Tobacco, Veolia and Santander. Its software helps fleet operators manage costs, improve driver safety and automate administration.

On paper, it's exactly the kind of asset that international buyers are actively hunting for. And yet, until recently, it was the kind of company that almost never crosses a buyer's radar outside Poland, built and still run by its founders. Marcin Boroń, founder and managing partner at Vision East Advisory, a Warsaw-based boutique M&A firm focused on software, SaaS and tech-enabled services across Poland and Central and Eastern Europe, led the advisory team that changed that.

An ownership model that suited the founders

Marcin and the Vision East Advisory team acted as exclusive transaction and financial adviser to Ecologic's shareholders, running the process from positioning the business through to closing. VEA's work covered preparation of the investment case, the buyer process, due diligence and negotiations.

The future of the business and its team mattered to the founders, who were looking for a partner that could support their plans for continued development, not simply the highest number on a term sheet.

Finding a buyer

The listing attracted interest on Dealsuite, giving Vision East Advisory access to a broader pool of potential candidates than its own network alone. Among the interests generated was a European buyer that acquires and grows vertical market and specialist software companies.

That buyer's companies operate on a decentralised model, keeping their own name, brand and management team within the wider group, a fit for the founders' plans to keep developing Ecologic with support from an experienced software group.

“We used Dealsuite specifically to reach buyers outside our own network, and that wider pool of interest was part of how we got this deal to the finish line." says Marcin.

Continuity after the sale

Ecologic's co-founders continue to lead the company, with the Warsaw team remaining in place. The buyer's ownership model allows the business to retain its brand and operational independence while drawing on support from the wider group.

Understanding the business behind the numbers

For international buyers assessing a Polish software business, public financial statements can provide an initial view. Understanding how the business earns and retains revenue, however, requires management information and consistent metric definitions.

VEA's approach starts with the problem a product solves, why customers continue paying, and how the company can serve more of them profitably. This connects customer value with the future cash flows an acquirer is assessing, retention and the cost of serving customers matter, alongside the investment needed to maintain the product and support further growth.

For owners considering a future sale, improving customer retention, making customer acquisition repeatable and strengthening margins can build the earnings and cash flows a buyer will assess. Developing a team that can support further growth matters too. These operating improvements take time; transaction preparation then makes their results verifiable and distinguishes current performance from plans for future growth.

Reaching the right buyer

Ecologic's sale combined access to a broader pool of buyers with advice from preparation through to closing. Dealsuite widened the field of prospective buyers, while VEA supported the shareholders in completing the transaction from start to finish. The founders continue to develop the business under an ownership model that supports their plans for the company.

To discuss software acquisitions in Poland or preparing a technology business for a future sale, contact Marcin Boroń and Vision East Advisory.

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