Thoughts on Citizens M&A advisors
What are people thoughts on Citizens M&A advisors versus other middle market firms? Have anyone come across any deals by Citizens? It seems like the firm was formed through the acquisition of Western Reserve Partners in 2017, Bowstring Advisors in 2019 and Trinity Partners in 2020. Citizens bought these company all through a cash deal and it seems like they are heavily focus on expanding in the investment banking business. Curious to see what people thoughts are on this firm.
Bowstring is a very reputable shop in ATL and you'll get a lot of LMM M&A reps if that's what you're looking for. Can't speak to the other two firms but if you're looking at Bowstring and have an offer in hand I'd take it.
Any insight on what pay look like at bowstring for analyst and associate? I can't see the deal size that bowstring work on through their past transaction list, do you have any insight into that?
Western Reserve is a reputable firm in Cleveland. Pay is below street, but not by much when you account for the relatively low COL. I've heard good things about the culture and deal flow. I don't know much about exits, but I'd assume decent exits to the MM PE shops in Cleveland and possibly others in the midwest, as well as corporate finance in Cleveland. Overall, the firm isn't on the same level as a Blair or Baird, but it's probably a better place to start your career than say a smaller regional boutique or even a larger brand like BGL.
If I'm a 2nd year analyst at a BB doing IB credit, like revolver origination . Do you think it's worth it to make a lateral move to Bowstring or Western as a 2nd year analyst?
It depends on your goals and preferences. I don't know anything about Bowstring, so my answer will be tailored towards Western Reserve. If you're looking to do IB long-term (staying at WR or lateraling to a bigger MM) or want to stay in Cleveland long-term (LMM PE or Corp Fin), sure you could lateral. Without knowing more about why you want to do IB and what your long-term goals are, it's hard to answer this question as an outsider.
Do you know what are the size of the transaction that Citizens focus on? I know it's sub $500MM, but is there a range?
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