Deal Report

Taking over the world. Alot of people want to get our thoughts on things, but are not willing to sell in this market. Restructuring have picked up a lot though

I can tell you buyside is waiting for valuations to come to a bottom. It is difficult explaining to LPs why you bought a company a 8.0x today and next month you had to write it down as comps deteriorated further.

Well if you can get leverage for 8.0x please let me know where? Is Vinny back in business?

MM in a Tech group is still decent, but definitely lot more pitching these days.

MM in a Tech group is still decent, but definitely lot more pitching these days.

Things are slow. There are a few high quality deals getting done, with little leverage (2x senior, 1x sub). More deals are requiring asset-backed facilities to keep pricing at sane levels.

A lot of companies unwilling to sell right now, as they're having down years, and prefer to wait until things get back on track before they sell in order to avoid taking a big hit on valuation.

• Capt K

Ok, so are you guys staying busy? I'm going out of my mind I'm so fucking bored. I gotta come up with shit to do or I'll go crazy. Any help on what I can do to pass the time?

Any help here is greatly appreciated. And yes, I've already used the search function. I'm pretty sure I've read every single WSO thread ever fucking created.

im working on 3 live deals, 2 sell-sides and a recapitalization.

lenders are looking for good places to put their money so the recap has generated A LOT of interest. the fact that the management team is awesome and the company has great endmarkets helps a ton.

sell-sides are moving along as well. strategics are starting to show a lot of interest as valuations come down and they feel they can get something that is well worth their cash.

I'm not that busy - spend a lot of time reading the news, blogs, and the whole rest of the f-ing internet.

• Capt K

you could also just read the firm's WSPs and pity the compliance department

I know you wanted an MM and BB report, but I'm at a boutique. Deal flow is massively down and job cuts have happened (yes boutiques are firing people, it's just not made public). As the only first year analyst left in my office, they are having me do a ton of research (both sector level and company level) which is great because I'm learning a lot, but it's not getting us anywhere. Also have started helping out with the portfolio companies of our PE arm, corporate planning stuff mostly.

Sort of between MM and BB but in Dubai. Staffed on one live deal, 2 others on hold/cancelled. Doing a lot of meetings with new clients now, not so much pitching. IPOs dead but some M&A interest there, actually. It was definitely worse in December; everyone's still wait-and-see.

At a Canadian bank in Toronto. Restructuring has picked up big time and there is some strategic M&A - everything else is fairly dead. I was getting smoked until December and things have been fairly chill since then.