Help Needed!!! Buyer Lists
Honestly I feel like buyer lists can still be a challenge for me. Is this the same for others? I'd really appreciate any guidance on how analysts / associates tackle these.
Here's my process:
For strategics, I go on CIQ, filter by industry and a few buzzwords in business descriptions. I set the total revenue is greater than 0, and select the US for geography. This usually yields hundreds of businesses, which I then skim business descriptions and weed out candidates that are obviously unrelated. Once I find a lot of "maybes," I then start going on their websites. If they're a public company, it's easy to tell if they're big enough to purchase. If they're private, I try to find size indicators (i.e. how many locations).
For sponsors, I use pitchbook. I find that sponsors list tons of industries they "invest in" on CIQ, so it's not super helpful. I select the correct industry and throw in some business description buzzwords. This usually yields ~100, which isn't too bad to look through. I then make sure each firm that I include has enough dry powder to do the deal. I'll then search for similar PE backed companies and see if I can find any sponsors that way by clicking on their investors.
I always feel like this process takes longer than it should. How do other people create buyer lists? Any advice on streamlining this process?