Pitch Books and Investor Materials

Overview

Investors and buyers form their first view of a business from the materials they are sent. A pitch book or investor presentation has to explain the opportunity quickly, put the numbers in context and give the reader confidence that the figures can be relied on.

We prepare investor materials in which the story and the financials support one another. Every number on the page ties to the underlying model, the definitions are used consistently, and the claims made can be evidenced if questions follow.

What the service covers

The materials are tailored to the audience and the stage of the process, and may include:

• A short teaser or one-page summary for initial approaches.
• An investor presentation or pitch book setting out the proposition, the market, the strategy and the investment highlights.
• An information memorandum with a more detailed description of the business, its operations and its financial performance.
• A management presentation for meetings, with speaker notes and expected questions.
• Financial summary pages: historical performance, forecasts, key performance indicators, funding requirement and use of proceeds.
• Valuation or returns summaries for transactions and fundraising rounds.
• A financial section for the data room that matches the narrative materials.

Key activities and deliverables

Key activities

• Identify the audience, the objective and the key messages with you and your other advisers.
• Draw out the investment highlights and test each one against evidence.
• Build the financial pages directly from the model, so changes to assumptions update the materials.
• Design and write the document in a clear, professional format consistent with your brand.
• Review the pages for numerical consistency, defined terms and tone.
• Prepare you for meetings by anticipating the questions investors are likely to ask on the numbers.

Deliverables

• A pitch book or investor presentation in an editable format.
• An information memorandum or teaser, where required for the process.
• Financial summary pages reconciled to the model.
• A list of likely investor questions on the financials, with suggested responses.
• Updates for each stage of the process, as new information or trading becomes available.

Our approach and methodology

We start from the reader. A strategic acquirer wants to see fit and synergy. A financial investor wants growth, cash generation and returns. A lender wants cash flow and downside protection. The structure, emphasis and level of detail follow from that.

Credibility is the priority. We present the numbers on the basis defined in the model, show how earnings and cash flow are derived and make clear what is historical and what is projected. The statements in the materials are those of management, who remain responsible for their accuracy. Legal and regulatory review of offering documents stays with your legal advisers, and these materials do not constitute an offer of securities.

Benefits for clients

• A clear, professional first impression for investors and counterparties.
• Numbers that are consistent across every document and tie to the model.
• Fewer follow-up questions and less back-and-forth during the process.
• Faster preparation, because materials update from the model when assumptions change.
• Better-prepared management teams in investor meetings.

Who needs this service

Pitch books and investor materials are needed by:

• Companies raising equity or debt from external investors.
• Owners and advisers launching a sale or seeking a strategic partner.
• Fund managers and investment teams presenting an opportunity to an investment committee.
• Management teams preparing roadshows, lender presentations or board approvals.
• Corporate finance advisers who need support with the financial content of their documents.