52:
strength of management team, scalability of operations, opportunities in the external market place and known risks, not to mention disclaimers. As an example, a table of contents or outline will open the pitch book for discussion. Name, title, and department present a management description of the deal team and other contributors within the firm's internal wealth of resources. An "overview", "financing requirements" (such as satisfying
859:
849:
114:
104:
The pitch book is not to be confused with a public information book ("PIB"), which is an internal resource for the investment bankers to glean transactional and historic information on a particular company. There are several types of pitch books, from general pitch books providing an overview of a
51:
Key areas covered in a typical pitch book include information on the investment highlights, key financial figures, the company's core customers and diversification of the customer base, barriers to entry for competitors, ability and plan to achieve future projections, future growth opportunities,
43:
intermediaries advising on the sale or disposal of the shares or assets of a business. It consists of a careful arrangement and analysis of the investment considerations of the client business and is presented to investors and potential investors with the intent of providing them the information
75:
presents industry specific details, trends, macro- and microeconomic and company specific analyses, which support reasoning for a particular valuation. (Comp has an alternate meaning: It's used as code for "comparative price" or the multiple of earnings at which similar businesses have sold.)
44:
necessary for them to make a decision to buy or invest in the client business. There are many contributors to an intermediary's pitch book. In an investment bank contributors may include anyone from an analyst to an associate, a vice-president or even the managing director. See
83:
banks, compete to win the business of established clients as either the lead or co-manager of a syndicate. If a firm is less established, the firm, and not the investment bank, tends to make the pitch to secure the relationship. (See
263:
56:
and capital budgeting), and finally as mentioned a description of the company's universe, the "comparable company analysis" are all essential elements to an investment banking pitch book.
256:
249:
101:
to market themselves to potential clients. It provides the bank with a chance to show and prove why the client should instruct them instead of any competitor.
132:
124:
228:
150:
730:
643:
789:
204:
190:
583:
898:
700:
64:
663:
105:
firm to pitch books designed to best present the firm to potential service partners or, in M&A, to investors.
834:
819:
809:
648:
463:
852:
829:
767:
593:
518:
478:
458:
40:
176:
563:
553:
523:
493:
433:
883:
804:
705:
568:
406:
376:
93:
888:
720:
742:
737:
53:
893:
692:
862:
774:
757:
715:
638:
630:
416:
401:
276:
85:
794:
779:
710:
653:
598:
573:
543:
533:
443:
426:
347:
342:
302:
297:
284:
272:
224:
45:
752:
747:
658:
613:
513:
411:
332:
317:
292:
36:
241:
814:
725:
678:
668:
603:
528:
498:
448:
396:
368:
312:
98:
72:
32:
762:
673:
877:
381:
89:
80:
60:
620:
468:
453:
327:
578:
548:
391:
322:
824:
784:
588:
508:
386:
307:
799:
558:
421:
28:
608:
503:
488:
438:
337:
63:(Strengths, Weaknesses, Opportunities, and Threats). "Comps", or
245:
107:
221:
Monkey
Business: Swinging Through the Wall Street Jungle
79:
Full-service investment banking conglomerates, a.k.a.
691:
629:
477:
367:
356:
283:
191:"How to impress investors to buy your business"
257:
8:
46:Financial analyst § Investment Banking
234:Downes, John & Goodman, Jordan Elliot;
858:
848:
364:
264:
250:
242:
205:"What is a Public Information Book (PIB)?"
35:, entrepreneurs, corporate finance firms,
31:presentation (information layout) used by
151:Learn how and when to remove this message
168:
7:
25:Confidential Information Memorandum
123:tone or style may not reflect the
97:.) The pitch book is also used by
14:
857:
847:
133:guide to writing better articles
112:
644:Debtor-in-possession financing
16:Type of marketing presentation
1:
584:Staggered board of directors
67:may also be presented. In a
59:The pitch book may employ a
701:Accretion/dilution analysis
65:Comparable Company Analysis
915:
664:Leveraged recapitalization
843:
835:Valuation using multiples
820:Sum-of-the-parts analysis
790:Modigliani–Miller theorem
649:Dividend recapitalization
464:Secondary market offering
236:Barron's Financial Guides
853:List of investment banks
768:Free cash flow to equity
594:Super-majority amendment
519:Management due diligence
459:Seasoned equity offering
564:Shareholder rights plan
554:Post-merger integration
524:Managerial entrenchment
494:Contingent value rights
434:Initial public offering
127:used on Knowledge (XXG)
706:Adjusted present value
569:Special-purpose entity
407:Direct public offering
377:At-the-market offering
131:See Knowledge (XXG)'s
94:Securities Act of 1933
721:Conglomerate discount
743:Economic value added
738:Discounted cash flow
179:. 23 September 2015.
328:Senior secured debt
193:. 29 December 2016.
899:Types of marketing
863:Outline of finance
775:Market value added
758:Financial modeling
716:Business valuation
639:Debt restructuring
417:Follow-on offering
402:Corporate spin-off
360:(terms/conditions)
277:investment banking
871:
870:
795:Net present value
780:Minority interest
711:Associate company
687:
686:
654:Financial sponsor
574:Special situation
544:Pre-emption right
534:Minority discount
444:Private placement
343:Subordinated debt
298:Exchangeable debt
285:Capital structure
273:Corporate finance
161:
160:
153:
125:encyclopedic tone
906:
861:
860:
851:
850:
753:Fairness opinion
748:Enterprise value
731:Weighted average
659:Leveraged buyout
514:Drag-along right
412:Equity carve-out
369:Equity offerings
365:
361:
333:Shareholder loan
318:Second lien debt
313:Preferred equity
293:Convertible debt
266:
259:
252:
243:
209:
208:
201:
195:
194:
187:
181:
180:
173:
156:
149:
145:
142:
136:
135:for suggestions.
116:
115:
108:
99:investment banks
37:business brokers
33:investment banks
23:, also called a
914:
913:
909:
908:
907:
905:
904:
903:
874:
873:
872:
867:
839:
815:Stock valuation
810:Residual income
726:Cost of capital
683:
679:Project finance
669:High-yield debt
625:
604:Tag-along right
529:Mandatory offer
499:Control premium
480:
473:
449:Public offering
397:Bought out deal
359:
358:
352:
279:
270:
217:
215:Further reading
212:
203:
202:
198:
189:
188:
184:
177:"What is a CIM"
175:
174:
170:
166:
157:
146:
140:
137:
130:
121:This section's
117:
113:
73:investment bank
17:
12:
11:
5:
912:
910:
902:
901:
896:
891:
886:
876:
875:
869:
868:
866:
865:
855:
844:
841:
840:
838:
837:
832:
830:Terminal value
827:
822:
817:
812:
807:
802:
797:
792:
787:
782:
777:
772:
771:
770:
763:Free cash flow
760:
755:
750:
745:
740:
735:
734:
733:
723:
718:
713:
708:
703:
697:
695:
689:
688:
685:
684:
682:
681:
676:
674:Private equity
671:
666:
661:
656:
651:
646:
641:
635:
633:
627:
626:
624:
623:
618:
617:
616:
606:
601:
596:
591:
586:
581:
576:
571:
566:
561:
556:
551:
546:
541:
536:
531:
526:
521:
516:
511:
506:
501:
496:
491:
485:
483:
475:
474:
472:
471:
466:
461:
456:
451:
446:
441:
436:
431:
430:
429:
419:
414:
409:
404:
399:
394:
389:
384:
379:
373:
371:
362:
354:
353:
351:
350:
345:
340:
335:
330:
325:
320:
315:
310:
305:
303:Mezzanine debt
300:
295:
289:
287:
281:
280:
271:
269:
268:
261:
254:
246:
240:
239:
232:
216:
213:
211:
210:
196:
182:
167:
165:
162:
159:
158:
120:
118:
111:
15:
13:
10:
9:
6:
4:
3:
2:
911:
900:
897:
895:
892:
890:
887:
885:
884:Banking terms
882:
881:
879:
864:
856:
854:
846:
845:
842:
836:
833:
831:
828:
826:
823:
821:
818:
816:
813:
811:
808:
806:
803:
801:
798:
796:
793:
791:
788:
786:
783:
781:
778:
776:
773:
769:
766:
765:
764:
761:
759:
756:
754:
751:
749:
746:
744:
741:
739:
736:
732:
729:
728:
727:
724:
722:
719:
717:
714:
712:
709:
707:
704:
702:
699:
698:
696:
694:
690:
680:
677:
675:
672:
670:
667:
665:
662:
660:
657:
655:
652:
650:
647:
645:
642:
640:
637:
636:
634:
632:
628:
622:
619:
615:
612:
611:
610:
607:
605:
602:
600:
597:
595:
592:
590:
587:
585:
582:
580:
577:
575:
572:
570:
567:
565:
562:
560:
557:
555:
552:
550:
547:
545:
542:
540:
537:
535:
532:
530:
527:
525:
522:
520:
517:
515:
512:
510:
507:
505:
502:
500:
497:
495:
492:
490:
487:
486:
484:
482:
476:
470:
467:
465:
462:
460:
457:
455:
452:
450:
447:
445:
442:
440:
437:
435:
432:
428:
425:
424:
423:
420:
418:
415:
413:
410:
408:
405:
403:
400:
398:
395:
393:
390:
388:
385:
383:
382:Book building
380:
378:
375:
374:
372:
370:
366:
363:
355:
349:
346:
344:
341:
339:
336:
334:
331:
329:
326:
324:
321:
319:
316:
314:
311:
309:
306:
304:
301:
299:
296:
294:
291:
290:
288:
286:
282:
278:
274:
267:
262:
260:
255:
253:
248:
247:
244:
237:
233:
230:
229:0-446-67695-0
226:
222:
219:
218:
214:
206:
200:
197:
192:
186:
183:
178:
172:
169:
163:
155:
152:
144:
134:
128:
126:
119:
110:
109:
106:
102:
100:
96:
95:
91:
90:United States
87:
82:
81:Bulge Bracket
77:
74:
70:
66:
62:
61:SWOT analysis
57:
55:
49:
47:
42:
38:
34:
30:
26:
22:
889:Presentation
805:Real options
621:Tender offer
538:
481:acquisitions
469:Underwriting
454:Rights issue
357:Transactions
235:
220:
199:
185:
171:
147:
141:January 2024
138:
122:
103:
92:
86:Regulation D
78:
68:
58:
50:
24:
20:
18:
579:Squeeze-out
549:Proxy fight
479:Mergers and
392:Bought deal
323:Senior debt
894:Publishing
878:Categories
825:Tax shield
785:Mismarking
589:Stock swap
539:Pitch book
509:Divestment
387:Bookrunner
308:Pari passu
164:References
39:and other
21:pitch book
800:Pure play
693:Valuation
559:Sell side
422:Greenshoe
29:marketing
631:Leverage
609:Takeover
504:Demerger
489:Buy side
614:Reverse
599:Synergy
439:Pre-IPO
427:Reverse
348:Warrant
88:of the
41:M&A
27:, is a
238:, 1995
227:
338:Stock
71:, an
54:Capex
275:and
225:ISBN
69:comp
880::
48:.
19:A
265:e
258:t
251:v
231:)
223:(
207:.
154:)
148:(
143:)
139:(
129:.
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.