Market entry & local execution · Hungary

How we work, in detail.

Penmark helps international investors and businesses establish a presence in Hungary, originate and complete transactions, and develop projects. We work alongside your team through construction, with specialist contractors, and into operations.

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Where
Hungary. On the ground, as your local team.
Who
International investors and businesses: energy developers, infrastructure investors, industrial groups, agri-food businesses, family offices and funds.
What
Market entry, opportunity origination, M&A and transaction support, and project development. Where the mandate calls for it, a continuing role into construction and operations, working with specialist partners.
Sectors
Energy, with a focus on renewables and storage · Agri-food · Manufacturing
01 The need

Capital and ambition need a local team.

You bring the investment mandate and the capital. We bring the local execution capacity to turn that mandate into a workable Hungarian business or project. We take responsibility for the workstreams we agree with you.

The question you face What we do about it
01What is the right route into the market?

We assess the entry options against your mandate: greenfield, acquisition, partnership or a local entity. Then we set out the decisions you need to take, in order.

02Which opportunities fit the mandate?

We turn your investment criteria into a search, then identify and screen projects, businesses, sites and partners against it. You see a shortlist with reasons, not a long list.

03Who will assess counterparties and coordinate local work?

We run the initial counterparty assessment and coordinate the legal, tax, technical and other specialist advisers under one plan, with named responsibilities.

04How will the project move from initial interest to an executable plan?

We manage the agreed development workstreams, report against milestones and prepare the materials for each decision point.

02 Services

Six stages, from first look to an operating business.

Engage us for a single stage or a broader mandate. The scope below shows typical work at each stage; what we take on is agreed for each engagement, not sold as a package.

Stage 01 · Typical scope

Assess the market

  • Market and commercial assessment
  • Entry options: greenfield, acquisition, partnership or local entity
  • Initial feasibility
  • Stakeholder mapping
  • Identification of material constraints
Typical outputA market entry roadmap with priorities and decision points.
Who deliversPenmark delivers this stage directly, with specialist advisers where the work requires it.

Stage 02 · Typical scope

Establish a presence

  • Coordination of local business setup
  • Office and operating setup
  • Recruitment support
  • Early, structured engagement with investment agencies and local authorities, prepared and documented
  • Coordination of legal, tax, accounting and other specialist advisers
Typical outputA local setup plan with responsibilities and an implementation schedule.
Who deliversPenmark delivers this stage directly, with specialist advisers where the work requires it.

Stage 03 · Typical scope

Originate and transact

  • Translate your mandate into search criteria
  • Identify and screen projects, businesses, sites and potential partners
  • Support initial discussions with counterparties
  • M&A and transaction support for acquisitions, joint ventures and partnerships: valuation input, structuring and negotiation support
  • Coordinate due diligence with your legal, tax and financial advisers
Typical outputA screened shortlist with a clear assessment of fit. Where you proceed, a coordinated path to signing.
Who deliversPenmark delivers this stage directly, with specialist advisers where the work requires it.

Stage 04 · Typical scope

Develop the project

  • Business planning
  • Commercial and financial assessment
  • Development planning
  • Local stakeholder coordination, including investment agencies and municipalities
  • Management of permitting and technical workstreams with qualified specialists
Typical outputA coordinated development plan, milestone reporting and decision materials.
Who deliversPenmark delivers this stage directly, with specialist advisers where the work requires it.

Permits and approvals are decided by the relevant authorities. We manage the workstream; we do not guarantee its outcome or timing.

Stage 05 · Typical scope

Build

  • Selection and coordination of specialist construction partners
  • Interface management between contractors, advisers and your team
  • Construction progress oversight and investor reporting
  • Support through commissioning and handover
Typical outputA defined contractor structure, clear responsibilities and construction reporting.
Who deliversConstruction is delivered by specialist partners under their own contracts. Penmark coordinates the interfaces and oversees progress on your behalf, in a role agreed for each mandate.

Stage 06 · Typical scope

Operate

  • Mobilisation of the local operating team
  • Operational management of the asset or business, where agreed
  • Coordination of specialist operating and maintenance partners
  • Ongoing investor reporting and local oversight
Typical outputA clear operating model, responsibilities and a regular reporting framework.
Who deliversOperations can be run by Penmark or together with specialist operating partners, in a role agreed for each mandate.

Where an activity requires a licence, it is held by the appropriately licensed operator or project company.

03 Sectors

Three sectors where our experience is deepest.

Our work concentrates on energy, agri-food and manufacturing.

Energy · Renewables

Renewable energy, with wind and storage at the centre.

For renewable energy developers and infrastructure investors considering Hungary, with particular interest in wind and in battery storage, standalone or paired with generation. Our role is strongest in the early and development stages, where local coordination carries the most weight, and can continue through construction and into operations.

Typical work

  • Screening of wind, storage and hybrid opportunities
  • Coordination of site assessment with technical specialists
  • Development planning and milestone reporting
  • Coordination of construction partners and interfaces
  • Operational oversight and investor reporting, where agreed

Agri-food

For agricultural producers, food processors and the supply chain between them, entering Hungary or building capacity here.

  • Local business entry and setup
  • Acquisition and partnership opportunities
  • Identification and development of production, processing and storage facilities
  • Building local operating capacity

Manufacturing

For industrial groups establishing or expanding production in Hungary.

  • Industrial entry route assessment
  • Site and partner identification
  • Acquisition or greenfield route comparison
  • Coordination of facility development and local setup

We also consider mandates in other sectors where our experience and local delivery capabilities are relevant.

04 How we work

Every stage ends in a decision you can take.

The scope is shaped around what your own team already covers. We fill the local gaps and make clear who owns each piece of work.

  1. 01

    Understand your mandate

    Your investment criteria, internal capabilities, timetable, and what you need handled locally.

  2. 02

    Define the scope and decision points

    Agreed workstreams, deliverables and responsibilities, and the points at which you decide whether to proceed.

  3. 03

    Execute the agreed local work

    Penmark’s partners do the work themselves and bring in the specialists each workstream needs.

  4. 04

    Report progress and prepare the next decision

    Regular reporting against the plan, and the materials you need for the next decision.

Senior involvement
Penmark’s partners run the work. You deal with the people doing it.
Clear responsibilities
Every workstream has an owner: Penmark, your team or a named specialist.
Practical deliverables
Roadmaps, shortlists, plans and reports you can act on.
Tailored scope
We complement your internal team rather than duplicate it.

Four ways to start

Commercial terms are agreed for each mandate.

Defined

Market entry assessment

A fixed piece of work: the route into the market, priorities and the decision points ahead.

Ongoing

Local representation and execution mandate

Penmark acts as your working team in Hungary across the workstreams we agree.

Transaction

Acquisition or partnership mandate

Search, assessment and support through to signing for a specific acquisition, joint venture or partnership.

Project-specific

Project delivery engagement

Development, construction oversight or operation of a single project, business or site.

05 Team

The people behind your local team.

You work directly with Penmark’s partners. The background below is each person’s own career, in transactions, investment, energy and running businesses.

Péter Grafjódi

Péter Grafjódi

Partner · Co-founder

Background

Co-founder of Penmark. 13 years in M&A, investment and advisory across Hungary and the CEE region. Former Head of M&A at the Hungarian Lottery, where he built the M&A function and its international expansion strategy, after starting at Morgan Stanley’s Investment Banking Division and EY Transaction Advisory. Deep financial due-diligence background, especially in agri-food and real estate. Corvinus University of Budapest; USC Marshall School of Business.

At Penmark: opportunity origination, counterparty assessment and transaction workstreams.

LinkedIn ↗
Rajmond Percze

Rajmond Percze

Partner · Co-founder

Background

Co-founder of Penmark and an entrepreneur by track record, not just by title. He has founded and scaled an agri-food company. A senior, cross-functional background across energy and control engineering, quality and compliance systems, law, finance and investment, including raising ~€35M of institutional and bank financing. Having sat on the owner’s side of the table, he approaches a project the way the people who will run it do.

At Penmark: business planning, local setup and the technical and development workstreams.

LinkedIn ↗
Kristóf Székely

Kristóf Székely

Partner

Background

Joined Penmark as Partner in 2026. Seven years as Partner at Lead Ventures, a €100M CEE investment firm he helped build from day one: around €35M deployed across the region and eight portfolio board seats, including AImotive through its sale to Stellantis. Six years at MOL Group in natural gas and biofuel trading and M&A business development. Corvinus University of Budapest; MBA, Warwick Business School.

At Penmark: energy and project management mandates.

LinkedIn ↗
06 Contact

Let’s discuss your plans for Hungary.

Tell us your sector, the investment or project you have in mind, where it stands today and where you need local support. Enquiries are read by Penmark’s partners and treated in confidence.

Email
Office

Medve Corner
Medve utca 25-29, 1027 Budapest

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