How to pick the right bank to run M&A sale process?
My firm is looking to sell a mid-market asset (~$0.7-1b), and we begin a beauty parade next week. We are a global firm, and frankly haven't done a ton of US transactions. We have ~4-5 banks (a mix of BB/EB/MM IBs) in mind. As with any seller, when engaging a sell-side advisor, the number one priority is customer service and responsiveness of the team. Despite the size of the company, the top banks really want to do this deal given the brand of the company.
At the same time, we have a very clear idea on how we want the process to run, and definitely don't need to rely on the bank for financial advisory per se. However, we do want to make sure that whichever bank running the deal is not currently operating over capacity, and that senior bankers (MD/D) will be very involved through out the process (not pawning off the deal to VPs and juniors to do the selling/communication with bidders, after winning mandate).
I guess in other words...how do I gauge each bank's capacity, and whether the MD(s) will be invested in our transaction and be involved through out the process? The last thing we want is the MD disappearing, and it's just the juniors running the process.
Am I better off going with a EB/MM bank that I know will definitely value this transaction, as opposed to taking a risk with the BBs?
Any color here would be helpful.