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Grant Thornton Poland advised Lynx Trail Capital on the acquisition of ICEA

Another transaction in the technology sector with the involvement of Grant Thornton Poland experts has been successfully completed. Investment fund Lynx Trail Capital has acquired shares in ICEA, a Polish one-stop-shop digital agency.

Our advisory team — Dariusz Gałązka, Szymon Koszel, Aleksandra Kotlińska, and Nina Kaczanowska — provided financial due diligence services as well as support in structuring and negotiating clauses of the share purchase agreement. 

The partnership with Lynx Trail Capital paves the way for ICEA’s transformation into an AI-native E-Commerce Growth Platform – a comprehensive partner for online stores and major brands, delivering integrated solutions that drive online traffic growth and conversion, both in traditional search engines and within LLM environments such as ChatGPT or Perplexity. 

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Lynx Trail Capital is a search fund established in 2024 by Michał Kamiński and Constantin Marek. It is backed by investors from the United States – including Silicon Valley, New York, and Boston – as well as from Germany and Poland. The fund’s investors are experienced entrepreneurs, senior executives, family offices, and business operators who bring not only capital but also deep technological and transactional know-how to ICEA. 

For 18 years, ICEA has been supporting the growth of the e-commerce sector, serving over 1,000 clients and employing a team of 100 experts. The company has already invested over PLN 15 million in its technological transformation. In 2024, ICEA recorded PLN 37 million in revenues and PLN 11 million in EBITDA. Its strong market position is confirmed by numerous awards, including the title of one of Europe’s top eight large SEO agencies (European Search Awards 2025) and the Forbes Diamond 2023. ICEA operates not only in Poland but has also been present in the United States for several years. 

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