Sale of CASP System to Ponar Wadowice

Cadenive acted as exclusive M&A advisor to the owners of CASP System sp. z o.o in the sale of 51% stake to PONAR Wadowice S.A. Under the terms of the agreement, the remaining 49% is retained by the target's existing shareholders, who form its current management team and will continue to run day-to-day operations for a period of at least five years. The transaction strengthens PONAR Wadowice's control over a critical element of its technological processes in the defence sector and supports its strategy of building a strong domestic engineering partnership, extending its competencies in non-destructive testing.

CASP System is headquartered in Jaworzno, Poland, and is one of the largest Polish companies specialising in the design and manufacture of non-destructive testing (NDT) equipment, which enables verification of product quality without interfering with a product's structure, functionality or technical condition. The company serves clients across the energy, aerospace, automotive, petrochemical, defence and construction sectors, including members of the Polish Armaments Group (PGZ) and global players such as Lockheed Martin, Pratt & Whitney, Leonardo and Safran. According to Dealroom, CASP System generated average revenue of over PLN 64 million and average EBITDA of over PLN 21 million between 2023 and 2025.

PONAR Wadowice S.A. is headquartered in Wadowice, Poland, and operates in the market for power hydraulics components and systems and high-pressure water systems. The PONAR Wadowice Group is one of Europe's leading technology providers in advanced dual-use power hydraulics, designing and manufacturing specialised components and complete hydraulic systems for modern industrial and military platforms.

For further information please contact portalewski@excaliburcapital.pl.