RE: M&A Execution
what exactly do you do as an M&A execution banker? Have been reading hundreds of articles on WSO for the past few days and I get the big picture-In M&A you don't pitching, just executing transactions and you have better financial modelling skills than Industry bankers. But what exactly do you do in execution BESIDES financial modelling? An analyst that I know in a BB industry group told me the idea that industry bankers know less f modelling than product bankers is complete myth-he's doing models day in day out everytime he puts a pitchbook together. Pitchbooks by definition must include valuation models as well, be it comparables, DCFs, LBOs, operating models, etc.
So if industry bankers do modelling as well, what the hell does execution really mean. Please be specific, not the usual modelling stuff. What else?????
Pitch books do not typically include lbo or operating models. The more likely a deal is to happen, the more work that goes into it, but detailed models are usually not something that are even considered at the pitch stage. Industry groups do a lot of pitching and execution is what takes place post-engagement. For example, an industry group might be 50/50 whereas a product group could be more like 10/90. Hope that helps.
thanks but that didnt really answer my question. what do execution bankers do BESIDES financial modelling? What dies execution entail? what is the typical execution process? do you do due diligence... etc?
offer memorandum, management presentations, data room management, operating models, due diligence meetings, and etc.
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