Investment Banking Process
Most transactions are won before the first buyer sees the book.
Every engagement moves through the same three stages: preparation, marketing, and negotiation through closing. How we move through them depends on the company, its owners, and the market at the time.
A typical engagement runs five to seven months. Timing depends on the company and on market conditions.
See how it is pacedThe Timeline
How a typical engagement is paced.
Durations are illustrative and assume normal market conditions. The solid portion of each bar reflects a typical minimum; the hatched portion shows how far a stage can extend.
Preparation
6–9 weeks
We build the case before anyone is asked to buy it.
Strategic planning
2 weeks
A plan endorsed by your board, with clear and measurable objectives for value, structure, and timing.
Internal due diligence
2–4 weeks
We review the company the way a buyer will, across legal, financial, and commercial matters, so any issues come to light while there is still time to address them.
Valuation
2–3 weeks
We build financial models using several valuation methods to arrive at a value range that holds up in negotiation.
The Market
12–18 weeks
The aim is to put the right buyers in competition for the company.
Marketing preparation
2–3 weeks
We prepare the descriptive memorandum, the target buyer list, and the go-to-market strategy.
Marketing effort
8–12 weeks
We distribute materials to a targeted list of buyers, manage every conversation, and report back on where serious interest lies.
Buyer due diligence
2–3 weeks
We select participants on price and terms, then coordinate and oversee their diligence and site visits.
Negotiation & Close
2–4 weeks
Terms agreed in the final weeks determine what the deal is really worth.
Negotiation
1–2 weeks
We draft the term sheet and negotiate the key legal and financial points, with every decision resting with you.
Closing
1–2 weeks
We oversee transaction documentation and manage the closing process with your counsel.
Our Approach
You keep running the company. We run the process.
A transaction is a second full-time job, and the business cannot afford to feel it. We carry the workload, protect confidentiality, and bring you in where your judgment changes the outcome.
Start with a conversation about your timing.
This is an illustrative timetable deemed realistic under “normal” economic, market and sector conditions. Specific timetables may vary, and such variances may be substantial.