No, interestingly enough it is a distinct advantage when selling a company. Identifying buyers is primarily a question of coupling strategic planning skills with diligent research. Then the best way to approach buyers is directly, at the highest level, using a senior member of the project team who knows how to present the opportunity and parry objections to it.
Local offices get in the way of that direct communication - and don't help in keeping things confidential. Local offices also tend to be more concerned to assist a local client win the auction than to assist the selling client of the bank.
A professional sell-side M&A team does its own buyer work discreetly, without triggering market murmurs and without introducing any conflicts of interest. |
