Potential Deal Fell Into My Lap, what should I do?
So a friend from high school started up an equipment rental business that he grew pretty well (13mm revenue). While we were catching up over the phone he said another company (~10mm revenue) wanted to do a merger with him and he called me to ask for advice. He actually asked if I could "run the deal" as if I'm not just a lowly AN1 lmao.
Is there some money in this for me if I refer a boutique bank to them (sourcing fee)? I'm trying to think of ways to monetize this transaction for myself. He's an old friend and I'm one of the only guys in high finance he knows so he trusts me to help him navigate this process. Would it be against my BB's policies if I tried to do the deal myself with a few other guys? Deal flow is a little slow so I have more time and I know I could grind right now.
At my BB at least, whether you're compensated or not, you'll have to get pre-approval from your bank to conduct an Outside Business Activity. If the service is banking related, even if you're not getting paid, I'm not quite sure it would be approved, but anything is possible...
That being said, I would seek out the advice of an MD you trust for what to do regarding referrals if your bank turns down the business (too small).
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