Comments (18)

May 9, 2019

Houlihan Lokey has an office there. See thread below for more info.

https://www.wallstreetoasis.com/forums/investment-...

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May 9, 2019

Piper, Lazard MM, Houlihan, Harris Wiliams are the top shops in Minneapolis.

Then there's also BMO, TripleTree, Hennepin Partners, Craig Hallum (would avoid now).

Bunch of smaller shops / offices such as Cascadia, Dougherty, Cherry Tree, Prestwick, etc.

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May 9, 2019

What's wrong with Craig Hallum?

May 9, 2019

Entire M&A team basically left to form Hennepin Partners w/ Quetico Partners.

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May 9, 2019

To add here:

Don't think Dougherty has done an M&A deal in a long time.

There are a few others like Madeira (sells small shit businesses for 4-5x, but decent volume), Freeland Briese that are doing $2-5mm EBITDA (typically lower multiple) deals. There was that guy that used to be at Imperial Capital, a consumer guy that I think is still doing banking somewhere.

BMO is always hiring and will likely lose most of its senior team after lock-ups end later this summer/fall.

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May 10, 2019

Is BMO weaker over there?

May 10, 2019

I second this, there are a lot of smaller shops in the area.

Duff & Phelps seems to have a small team in Minneapolis too.

May 10, 2019

Two guys trying to do healthcare (mostly med tech/med device) deals. They've been slow. One of the MDs is a decent HC guy from the former GHF, the other guy is somewhat unknown.

May 10, 2019

Bank of America recently posted this position for an MD in Minneapolis: http://careers.bankofamerica.com/job-detail/180472...
Anyone have any knowledge or thoughts on this since BAC hasn't had an IB presence in MN prior to this (or at least to my knowledge they haven't).

Maybe they're expanding geographically or am I totally off the mark with this?

May 10, 2019

BAML is pushing to have more VP and up in regional IB. It is not a full blown office. They are trying to compete for deals that's north of $200MM by leveraging their MM and corporate bankers. Doesn't apply to analyst and associate. All analyst / associate are place out of NYC, SF, CTL, LA, HTX, CHI.

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May 10, 2019

Thanks for the clarity, I figured that might be the case but I wasn't sure.

Most Helpful
May 10, 2019

When things are competitive, you see the large balance sheet banks try to win mid-market deals and advisory fees with half-hearted MM IB attempts. I discussed this in another thread, but these banks (specifically referring to BAML, WF, JP - less extent) are just trying to piggy back off good relationships that their corporate and commercial bankers have with middle market companies and steal advisory fees for warm-leads and non-pitched deals in the $200-$500mm range (maybe a bit wider than this).

They are not going to win a bake off process against any decent MM and certainly not against any EBs. But, if they can get a couple of deals per year across the country, that's an extra $5-10mm+ in advisory fees, plus some tombstones.

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May 10, 2019
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