Getting Your Sell-Side Deal Done – Documentation
- 16.05.2019 Author Christopher Bräuer
Part 1: Preparation & Documentation
In a sell side process various steps must be taken in order to successfully sign and close an M&A transaction. Creating marketing materials such as blind profiles or anonymous teasers (that often do not have to be anonymous, depending on the readers knowledge or purpose) as well as confidential information memoranda is a task well known to the M&A Analyst. However, to create such materials thorough preparation and a comprehensive understanding of the business at stake is essential and key to market a company and to eventually get your deal done. Especially for those that are new to the industry or want to start out in M&A, it can sometimes be a bit difficult to gain insights and a solid idea of the individual steps of a sell side process in closer detail. Those with some M&A experience – possibly through an internship at an investment banking division (IBD) – might know about the first steps in a sell side process in perfect detail. Find out more about step 2 and step 3
Let’s assume you did that IBD internship for two months and spent most of your time preparing pitch books, financial models and fixing the printer. Everyone is happy with your work and you get a return offer to start as an analyst next week. Pleased as you are and since that is truly what you want, you don’t think twice and immediately sign the employment contract. Now the deal maker for whom you mostly worked so far calls you and it turns out that one of those sell side pitches you worked on so hard convinced its audience and your company has been chosen as the financial advisor for the sell-side process. Having won the mandate and being staffed on a project from the beginning the first time the question arises – what’s next?