One of the first projects I was assigned to when joining McQ Holdings was to find a prospective buyer for a Metal Injection Molding (MIM) company. MIM is a metal working technology that uses finely powdered metal and binder to create a base that can be injected into plastic molds. This technology makes small elaborate metal pieces that are used for medical, automotive, industrial, and commercial applications. For example this process creates the small metal screws and fixtures in a pair of eyeglasses. As the technology is rather new and there are not many companies that have it as their main facet of business it was difficult to conduct research on comparables, major market players, and competitors. This made it harder to value our company and to find an accurate selling price.
The business our firm was hired by was a medium sized metal injection molding company based in the Northeast United States. The founder and CEO reached out to my boss with the hopes to liquidate this business for capital to inject into various other ventures that had been performing better over the last few years. The CFO provided us with the companies financials and a Discounted Cash Flow model which I used to help evaluate the company and to find a proper selling price. I was also in charge of putting together a company pitch deck presentation to send around to potential buyers. Our main targets were other larger MIM companies based in the US that may have an interest in acquiring a profitable asset or Private Equity funds that have been active in the metals/industrials industry in the past. The list of perspective buyers I put together were sent the pitch deck I created along with some of the companies financials and other information on the opportunity.
One of the best things about working in New York this summer was the work that I did outside of the office, meeting various investors for lunch or drinks, sitting in on meetings with well respected PE and VC funds, and attending different business conventions. During my second week of work my boss and I visited the Javits Center for MD&M East, the largest meditech event on the east coast. This convention had many business that specialized in MIM creating pieces for medical devices. We visited our clients booth and spoke with him for a while, but out main objective was to visit the companies at the other booths and to gain more information on the industry and comparable businesses. We even set up a few meetings with people that were interested in acquiring our clients business. This type of real life experience that I gained outside of the office this summer during my internship really has gotten me comfortable coming into recruitment this fall and for full time employment.