Sell-side M&A Bankers - How regularly do you have/conduct expert calls?

Quite common in PE for understanding a TargetCo or Industry. 

But for you sell-side bankers, do you ever conduct expert calls?

If so; what are the most common reasons for doing so, and how many calls will do have?

7 Comments
 

Sell-side M&A bankers do conduct expert calls, but not as frequently as buy-side professionals like those in private equity. Based on the most helpful WSO content, here are the key insights:

  1. Reasons for Conducting Expert Calls:

    • Industry Insights: To gain a deeper understanding of the target company's industry, especially if it's a niche or complex sector.
    • Market Positioning: To better position the target company in the market and highlight its unique value proposition to potential buyers.
    • Strategic Advice: To refine the narrative or strategy for the sale process, ensuring it aligns with market trends and buyer expectations.
  2. Frequency of Expert Calls:

    • Sell-side bankers typically conduct fewer expert calls compared to buy-side professionals. The number of calls depends on the complexity of the deal and the industry. For example:
      • In highly specialized industries (e.g., biotech or tech), there might be a higher reliance on expert calls.
      • For more straightforward industries, the need for expert calls diminishes.
  3. Common Scenarios for Expert Calls:

    • When preparing marketing materials like the Confidential Information Memorandum (CIM).
    • During the due diligence phase to address specific buyer questions or concerns.
    • To validate assumptions in financial models or projections.

While sell-side bankers may not rely on expert calls as heavily as their buy-side counterparts, they are a valuable tool in certain situations to enhance the quality and credibility of the sale process.

Sources: Why Buy-Side M&A is So Important, What's happening during live deals?, As an M&A Investment Banker, What Value Do You Actually Add?, How to pick the right bank to run M&A sale process?, M&A consultant Q&A

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 

All the time. You should have your own content but bouncing ideas off the experts and more importantly being able to talk to targets like someone in their industry is vital for any content credibility. I encourage all our vps and EDs to build relationships with both people I'm I dusty and the Consultants that cover those sectors. 

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