Has anyone heard of Auctus Group Inc in Chicago? I recently found an internship posting there. -Judging from their website they are an IB and recruiting firm -Some senior bankers have real IB experience while some are random previous business owners Does anyone have insight? Are they legit?
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Curious as well. Got hit up by a recruiter from there recently and he seemed to be somewhat legit. I plan on asking around
Never heard of them but after looking at the site I'd stay away. I'd think of them more as a business broker instead of as an actual investment bank.
Metal Spinners / Missouri Metals deal was in January 2008, Altivia / Haverhill deal was in September 2015 but only $2.5M, Groeb Farms / Int'l Honey Producer was in March 2010. Also the Local Marketing Solutions group deal was only for a $1.5M credit facility - that's barely more than the minimum success fee for any given transaction charged by reputable MM firms.
Then at the bottom "Includes transactions completed by Auctus Group team members while at a previous firm" is concerning considering how few deals there are on the transactions page and how many people are profiled on the professionals page.
Do you have any recommendations for IB firms that deal with the small/mid market?
Can confirm, the IB side is a joke. The search side is also terrible. Better to stick with brand names for MW MM IB.
A lot of the bankers worked previously at Madison Street Capital which i dont know if i would classify as a legit IB shop. One thing to note is Madison was recently suing Auctus for "stealing" financial models and other "proprietary" information when they left the firm.
What really raises a red flag about this shop for me is that their associates are all responsible for business development (according to their profiles). Senior bankers, not associates, should be bringing in business into an IB. This leads me to believe that junior employees at Auctus are probably spending a large amount of time cold calling.
You're absolutely right boom.
Anyone have any updated info on this firm? Got an interview invite for an Associate role so any insights would be helpful
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