Prominent Belarusian businessman leaves Poland after our investigation
Following our investigation, “The Big Repairs”, Vadzim Hrynkevich, a successful Belarusian businessman, sold the Polish company SP Europe.
In the publication, we provided information about Armtek, a global holding company specialising in the distribution of automotive components on a worldwide scale. Belarusians Vadzim and Aleh Hrynkeviches are its founders. Buro discovered that Armtek serviced the personal motor pool of Aleksandr Lukashenko and supplied sanctioned dual-use goods – European-made bearings – to warring Russia.
The Buro investigation also mentioned SP Europe, a Polish company that owns a 10,000-square-metre warehouse near Warsaw and deals in auto parts. According to the register of beneficiaries of Polish companies, Vadzim Hrynkievich no longer owns SP Europe, which he controlled through the Irish firm Pantek Automotive Limited.
“As part of its corporate restructuring process, Pantek sold SP Europe in January 2025, and as a result, the Polish company is no longer part of our group”, a Pantek spokesperson told Buro.
Paul Boskma, a Dutch national, has become the new owner of SP Europe. Our investigation found links between him and Vadzim Hrynkevich’s business network. Boskma serves on the board of the Swiss company Lemeitr AG, which held shares in the Belarusian firms Alfa Motors and Evrozapchast during the time when Hrynkevich was in charge. The connections date back to July – December 2021 and January – September 2022. The Pantek representative would not comment on Hrynkievich’s “personal relationship” with Boskma. SP Europe did not respond to our request.
The Polish company’s continued trading of auto parts under the Stellox, Edcon and Areol brands was also noted on the SP Europe website. Armtek sells these brands in Belarus, Russia and Kazakhstan.
Against the backdrop of European sanctions against Russia and Belarus, SP Europe saw a significant increase in sales revenue. There was a fourfold increase in 2022 (to $9.69 million), followed by a 73.8% increase in 2023 (to $17.88 million) compared to previous years.
“Since its establishment in 2016, SP Europe has become one of the most important links in the supply of spare parts from European contractor factories to the markets of Russia, Belarus and Kazakhstan, despite international sanctions imposed between 2022 and 2024. <...> The Buro Media investigation, which uncovered the Hrynkevich companies’ operating schemes, seems to have prompted the brothers to dispose of their Polish assets”, shared journalist Vadzim Siakhovich, who specialises in Belarusian business, on his Telegram channel.