Corporate Development M&A - Should I reach out to Boutique Investment banks for deal opportunities?

I recently got hired in the M&A department of a mid sized private company (<1$b). The M&A group is very small, and we're looking to grow the company through acquisitions. I'm tasked with sourcing deals for the company and bringing them to the CEO/CFO. One avenue I was exploring was reaching out to boutique investment banks that operate in my company's industry, introducing myself, and letting them know we're open to acquisitions and to keep us in mind when deals come up that match our profile. Is this common in the industry? Is it a worthwhile use of time?

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Aug 10, 2018