Company of the Week: Behind the scenes of EY’s Transaction Advisory Services
Saying that I have worked for EY’s Transaction Advisory Services (familiarly referred to as ‘TAS’) for two years and my current title is Senior Analyst in our Transaction Support team may not say much about the actual work especially if you are unfamiliar with the scene of transactions. So let me walk you through what kind of a day I had on Wednesday 7th of September 2016.
Our job is to prepare financial due diligence on the target companies i.e. we go through all the relevant financials provided to us based on the special information request list. Having a detective-like spirit does not harm as the primary reason for due diligence is to identify all the possible risks prior the potential transaction. At times, we acknowledge risks, which might be deal breakers, and hence, the client might not want to proceed further.
After the summer holidays I’ve been working on a buyside engagement consisting of three companies which we have been analyzing for the past weeks. Today we had a management interview which I was priviledged to hold.
The interview with the Target’s management was very fruitful and we managed to cover most of the topics during three hours (usually the interviews take up to 1,5-2 hrs so you can imagine the amount of exhaustion after speaking three consecutive hours..) Luckily, the canteen does not close at 1pm sharp as our whole team was starving by the time the interview ended.
Right after lunch, we went through the main findings from the interview and prepared a shorter list of the remaining questions to the target and started to draft the report. Similarly to many other reports, this includes analyses of profit and loss statement, balance sheet and customer data to name but a few. In the afternoon, I got an email related to another project in which we have updated our seller information documents regarding a real estate portfolio based on the latest information available. Our director had reviewed the changes and showed green light! ‘Perfect’, I thought to myself – now I could finally fully focus on this current buyside engagement.
My motivation was pretty skyhigh to finish off the report , as our team is going to head to Barcelona tomorrow for a Nordic TAS kick-off which are held every second year somewhere around Europe. It’s a great way to meet up with colleagues that we have had trainings with and also to get to know new joiners. Apart from networking, the event also provides latest news from Nordic M&A field. It will be interesting to hear what is going on in the Nordics sector-wise and within our TS team. And of course it will be great to feel the last beams of sunlight of the summer!
Senior Analyst, Transaction Support
Master’s Degree from Aalto University School of Business in 2014 (International Business)
PS: The application period for the EY Experience trainee program is coming soon (19.9.-9.10.) – see a list of all the open positions and apply at ey.com/fi/careers