Warsaw, 26 March 2026 – Clyde & Co provided legal advice to a consortium of leading Polish financial institutions, including PKO Bank Polski, Fundusz Ekspansji Zagranicznej 2 FIZAN managed by PFR TFI S.A., and KUKE S.A. on a complex, cross-border financing provided to VIGO Photonics a global leader in photonics technologies supporting its expansion in the United States.
Our cross-jurisdictional team advised on all key aspects of the financing, including preparation and negotiation of the facilities agreement, the loan agreement, the intercreditor agreement, as well as Polish and U.S. law security documents. The matter involved close collaboration between Clyde & Co’s Warsaw and U.S. teams to ensure seamless execution across the two jurisdictions.
The Clyde & Co team in Poland was led by Michał Kalicki, Counsel provided by Marcin Lorenc, Associate and Ernest Dymel, Counsel. U.S. law advice was coordinated by Elizabeth Evans, Partner, with the support of Cassidy Black, Associate.
The financing arranged for VIGO Photonics supports the company’s acquisition of assets from InfraRed Associates, a long established U.S. manufacturer of liquidn itrogen cooled infrared detectors. The transaction is a key element of the company’s geographic expansion strategy and further strengthens VIGO’s position in the global hightech sector.
PKO Bank Polski provided financing to VIGO Photonics S.A. to refinance existing debt, meet working capital needs and support the U.S. acquisition completed through its American subsidiary. At the same time, Fundusz Ekspansji Zagranicznej 2 FIZAN extended financing to VIGO Photonics Corporation to facilitate the acquisition of InfraRed Associates’ assets. Both financing lines were further supported by guarantees and insurance issued by KUKE S.A. This acquisition represents an important milestone in the international growth of Polish high tech companies and stands as another successful project delivered under the Team Poland framework.
Michał Kalicki, Head of Banking & Finance in Poland, said “The transaction also reflects a broader trend in which Polish institutions and domestic capital play an increasingly strategic role in enabling local innovators to scale globally. By supporting a high tech leader in entering the U.S. market, this financing demonstrates how coordinated financial, legal and institutional cooperation can accelerate the international ambitions of Polish companies and strengthen their position in global value chains“.