Setting up Management Presentations

Bostonbanker1 -- I would do the following. Hope this helps. Don't over think this at all, it is a relatively simple process.

- Once sll CIM's have been distributed, how long do you wait until you make calls to people who received books? - What is the general script for those calls? What do you NOT want to say?

Response: We don't distribute CIMs to people until after they have signed a confidentiality agreement, so you ought to already have some sort of dialog going with the person already. If you don't, wait a few days and lob in a call, let them know that you're available to answer any questions if they have any. There is no script to follow. Only say things that will help them to better understand the company and don't give away inside information such as the CEO is looking to sell cause he just divorced his wife and needs to make alimony payments...

- If the prospect says they're not interested, how do you respond?

Response: Thank them for their time and taking a look. Ask them what turned them off, record, and share it with your team.

- My MD doesn't want to ask for indications of interest prior to meetings with management on this one. What if the prospect asks what price the seller is looking for or the seller's minimum price/multiple? Or how about how many other meetings are being set up? How do you answer these questions?

Response: Never had that happen. However, whenever anyone asks about price, tell them that you are not giving valuation guidance at this time. If they press hard, point them to a few comparable companies that are trading at ridiculous multiples. That ought to shut em up! As for any questions relating to the process (how many other meetings, etc.), just tell them that you aren't sharing that information. They don't ever expect to get it, but sometimes they ask to see if they can get some info out of the junior guys.

- How do you actually go about all the scheduling the meetings? Assuming we want to schedule several over a 1-3 day period. In one or two cities. Do you get dates from your client and then get dates from prospects? How do literally get everyone scheduled?

Response: Usually you'll have a week or two set up as designated presentation dates. Your team should be helping you with this. Find out the dates they want to hold meetings. Like setting up calls, you'll just have to ping the buyers a few times for their availability and slot them in where necessary. I'd take the approach of emailing the buyers and saying: "Mgmt would like to meet with you Thursday at 2pm at XYZ in NYC -- is your team available?" Rather than asking for multiple times, just offer up a suggestion and see if they bite.

~~~~~~~~~~~ CompBanker