Tech M&A - London
Hi guys, I'd be particularly interested in getting some insights on the tech M&A industry in London -- Which teams have the strongest deal flow in the BB/EB space, which have the best exits to PE/growth equity, is a move to a corporate feasible (if yes, for which position and at which level of seniority), etc.
Many thanks !
If I were interested in Tech I would target shops like Arma Partners and Jefferies. Very strong teams and great exits to Tech PE/VCs. Especially for tech, I think the way is EB, because of the specialisation. You can also check GP Bullhound, Silverpeak etc.
On the BB side, obviously GS, MS as well as Barclays and Citi.
Thanks for your comment.
You mentioned the EB space: What about Evercore, which I believe has a dedicated tech team ? Is the team performing well ?
Evercore is fine but still a while behind places like Arma / Lazard and the BB’s
Canaccord is semi-decent as well in private tech M&A.
How is JPM's tech team in London?
bump
Arma partners is probably the best place to be for Tech M&A in London, very high profile mandates and strong deal flow.
I think this is an exaggeration (on the high profile mandates) but Arma does have decent and mostly mid market deal flow... That being said, BB and EBs will not touch 2/3 to 3/4 of the deals that Arma is involved in due to size. Just have a look at their website: yes, there are a few large deals but most of the deal flow is small and mid market stuff...
1. MS Tech
2. GS TMT
3. JPM TMT
4. Evercore Tech
5. Other BB/Arma
First four - yes. Torch, well, maybe in some parallel universe. Even Arma is much more established than Torch who have much more sporadic deal flow (usually reliant on a small handful of relationships) and a smaller team. Come on, be objective. I would not discount Citi, CS, BAML and Barclays. All have decent teams.
Evercore is not that great in London, their typical deal size is around £200 million. A lot of people on WSO and in general (recruiters etc.) fangirl over Evercore but in reality outside of the US they're nothing special, there are far stronger shops in London especially for Tech (pretty much all the BBs, Arma, Lazard etc..).
Also Torch are still miles behind the BBs/Lazard/Arma for Tech.
Bullshit
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