Bastion Group

What Bastion Group does

Bastion Group is a Warsaw-based investment banking boutique providing M&A advisory, capital raising, financial restructuring, and succession planning services to entrepreneurs, family foundations, corporations, investment funds, and asset managers across Central and Eastern Europe. Founded in 2009 by Tomasz Jaroń and Maciej Dworniak, the firm operates with a lean team of 1-10 professionals structured around four partners — Jaroń, Dworniak, Grzegorz Stabiński (joined 2010), and Paweł Chmielewski (joined 2015, Partner since 2023) — whose prior careers span Bank of America Merrill Lynch, UniCredit CA IB, Fortress Investment Group, Davidson Kempner, Advent International, Credit Suisse, Lazard, McKinsey, and ESO Capital. The legal entity is Bastion Advisory Sp. z o.o., privately held with no disclosed institutional investors or parent company.

The firm delivers four integrated advisory service lines — Mergers and Acquisitions (Przejęcia i Połączenia), Capital Raising (Pozyskiwanie Kapitału), Financial Restructuring (Restrukturyzacja), and Succession Planning (Sukcesja) — through partner-led mandates. It has executed over 50 disclosed transactions with cumulative deal value exceeding EUR 3.5 billion (14+ billion PLN) across 10 CEE markets, with individual team members having participated in 150+ deals worth over EUR 50 billion across their collective careers. International partner firms (CMD Global Partners, Freitag & Co, Reimei Global, Alpacar) provide cross-border deal-flow support, evidenced by multi-jurisdiction transactions covering Poland, Czech Republic, Hungary, Slovenia, Slovakia, the Baltics, Romania, Moldova, and Finland, plus inbound Asian and Western European capital.

Bastion Group generates revenue through transaction-based advisory fees — success fees tied to deal value, retainers, or hybrid structures — typical of investment banking boutiques. Distribution is partner-led and referral-driven; the firm relies on direct enterprise engagement, repeat sponsor relationships (MidEuropa, Montagu, Enterprise Investors, Chiltern Capital, Kartesia, Avallon, Waypoint Capital, MCI Capital), and cross-border deal flow from its international partner network rather than consumer-facing marketing channels.

Name

Bastion Group

Legal name

Bastion Advisory Sp. z o.o.

Website

https://bastiongroup.com

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

1–10 employees

Short description

Bastion Group is a Warsaw-based investment banking boutique providing M&A advisory, capital raising, financial restructuring, and succession planning services to entrepreneurs, family foundations, corporations, and investment funds across Central and Eastern Europe.

Ownership category

akta.pro rank

Product category

Investment Banking Advisory

NAICS

Portfolio Management and Investment Advice (52394), Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Institutional Consulting RIAs (OCIO/Endowments/Foundations/Pensions) (FSAAACAG)

akta.pro secondary industry

Private Banking Philanthropy & Impact Advisory (FSABADAJ)

Keywords

• Investment banking advisory
• Mergers and acquisitions
• Capital raising services
• Financial restructuring advisory
• Succession planning services

Headquarters

HQ city

Warsaw

HQ country

Poland

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Financial Advisory Services: Bastion Group generates revenue through advisory fees for M&A transactions, capital raising engagements, financial restructuring mandates, and succession planning services. As an investment banking boutique, fees are typically structured as success fees (percentage of transaction value), retainers, or a combination thereof.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels3 records

Core offering

Bastion Group is an independent investment banking advisory firm that provides four core service lines: Mergers and Acquisitions (buy-side and sell-side advisory), Capital Raising (debt and equity financing), Financial Restructuring, and Succession Planning for family businesses. The firm serves entrepreneurs, family foundations, corporations, investment funds, and asset managers across Central and Eastern Europe with cross-border transaction expertise.

Product overview

Bastion Group is a financial and investment banking advisory firm offering four integrated advisory service lines: Mergers and Acquisitions (Przejęcia i Połączenia), Capital Raising (Pozyskiwanie Kapitału), Financial Restructuring (Restrukturyzacja), and Succession Planning (Sukcesja). These services are delivered as a unified advisory offering rather than a modular software product, with the firm providing tailored, independent financial advice to entrepreneurs, family foundations, corporations, funds, and asset managers across Central and Eastern Europe.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• 150+ transactions completed with cumulative value exceeding EUR 50 billion
• +3 more outcomes

Named customers17 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered core.

• CMD GlobalcoreStrategic or Co-development PartnerCMD Global Partners is an international investment banking firm with long-standing partnership with Bastion Group, providing coverage in select markets and enhanced support for cross-border transactions in the CEE region.
• Freitag & CocoreStrategic or Co-development PartnerFreitag & Co is a partner firm in international investment banking with established relationship with Bastion Group, contributing to global coverage and transaction support capabilities.
• Reimei GlobalcoreStrategic or Co-development PartnerReimei Global is an international investment banking partner providing coverage support and transaction execution capabilities for Bastion Group clients in select markets.
• AlpacarcoreStrategic or Co-development PartnerAlpacar is a partner firm providing investment banking coverage and support for cross-border transactions, extending Bastion Group's reach in select international markets.

Scale indicators6 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Resource Partners: Polish mid-market private equity and advisory firm operating across CEE; comparable geographic focus, deal-size range and target customer base to Bastion Group.
• Trigon Investment Banking: Polish investment banking boutique offering M&A advisory, capital raising and restructuring services to mid-market clients in Poland and CEE — directly comparable in size, geography and service mix to Bastion Group.
• Pradoneo Doradztwo Finansowe: Polish mid-market investment banking boutique; co-advisor with Bastion on the Focus Telecom mandate, serving a similar entrepreneur and PE client base in CEE with M&A advisory and capital raising.
• Cornerstone Partners: Warsaw-based M&A advisory boutique serving entrepreneurs, family businesses and PE funds across CEE; similar headcount and boutique positioning make it a close peer to Bastion.
• Clipperton Advisors: European mid-market M&A advisory boutique serving entrepreneurs, corporates and PE funds — comparable boutique model, cross-border execution, and target deal size to Bastion's CEE mid-market focus.
• Innova Capital: Polish mid-market private equity and M&A advisory firm operating across CEE — overlaps with Bastion in PE-backed mid-market M&A execution in the same geography.
• Value4Capital: Polish M&A advisory boutique serving entrepreneurs, family businesses and mid-market corporates — similar boutique positioning, CEE focus and entrepreneur client base as Bastion Group.

Broad incumbents

• Alantra (formerly C.W. Downer & Co.): Global mid-market investment banking and asset management firm operating a broad mid-market advisory practice across Europe; directly comparable service offering at a much larger scale than Bastion.
• Rothschild & Co: Global independent advisory firm with deep CEE presence; broader scope and capital, but competes with Bastion for larger mid-market and cross-border mandates in Poland and the region.
• Canaccord Genuity: Global mid-market investment bank with a Frankfurt-based team (where partner Chmielewski previously worked); comparable mid-market M&A advisory offering in Europe but at materially larger scale.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights5 records

Customer concentration

• LinkedInlinkedin.com/company/bastion-group

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bastion Group