Fuel retail
Poland
PE exit
11 Jun 2026
Stonepeak & Energy Equation Partners to acquire MOYA owner Anwim
Stonepeak and Energy Equation Partners have agreed to acquire Anwim S.A. — Poland's largest independent fuel marketer and owner of the 540+ station MOYA network — from Polish Enterprise Fund VIII, managed by Enterprise Investors. Closing is expected in the second half of 2026, subject to regulatory approval. Terms were not disclosed.
Our take
A textbook mature-market exit: a private-equity fund realising an asset after years of ownership and handing it to larger international infrastructure capital. It shows the depth of Poland's upper mid-market — well above where most of the region's deals sit. The lesson from the top end: competitive processes form around businesses prepared years in advance, and buyers pay for that preparation.