Information Memorandum & transaction materials
The Information Memorandum is the central document of a sale process: it is what acquirers build their first conviction on. I produce all of it - equity story, document structure and drafting - fully autonomously or under your direction.
What I produce
Teaser
An anonymised presentation of the opportunity, designed to generate interest without revealing the target’s identity
Information Memorandum
The reference document of the process: market, business, clients, organisation, financials and equity story
Management Presentation
The material supporting management meetings with acquirers or investors in phase 2 of the process
One-pagers and pitch decks
Summaries and outreach materials for investors, acquirers or internal committees
Reformatting and upgrading
Taking existing documents up to standard before distribution
What a good Information Memorandum contains
An IM is not written for the analyst who receives it, but for the investment committee that will decide. Each part answers one of that committee’s questions. For an SME, expect 40 to 50 pages, appendices included.
Executive summary
The equity story in a few pages: the thesis, the key investment considerations, the proposed transaction. It is the part the decision-maker reads first, sometimes the only one.
Market
The market comes before the company: its size, its growth, what drives it. The target’s performance is then read in that frame.
Business
The business model, the offering and the edge that protects it. A technology is described by what it produces, not by its components.
Customers
Concentration, length of relationships, recurrence: three measures that show whether revenue will survive the change of ownership.
Organisation
Who runs the business, who holds the client relationships, who commits to stay. Your buyer is also buying a team.
Financials
A restated track record, then a business plan where every assumption points back to a fact established earlier. Every figure comes with its mechanism and its implication.
Demonstrate, don’t assert
Understand the business
Analysis of the business model, growth and margin drivers, client base and positioning - before any drafting.
Structure the equity story
Messages ranked from the acquirer’s point of view: every claim backed by a fact, a figure or an identified source.
Draft and format
Sober, factual drafting, formatting to the standard of competitive processes, figures checked for consistency from page to page.
Documents used in live processes
Groupe Betem - MBO with a minority investment by Parquest Capital
Production of the Information Memorandum and Management Presentation for a multidisciplinary engineering group with approximately €55m of revenue, working directly with the CFO and the M&A advisor
Fundraising of approximately €20m
Full production of the Information Memorandum for an M&A boutique specialised in energy, advisor to the transaction - equity story, structure and narrative produced autonomously - for a renewable energy company (end client confidential)
Case study - The Information Memorandum of the Groupe Betem MBO →
Case study - Investor materials for a fundraising of approximately €20m →
The transactions listed are public. The roles described reflect personal scope of work within the teams involved or through jmp advisory.
What the client says
“[…] The final document is not only complete and well structured, it also reflects a deep understanding of our needs and objectives.”
Who is this for?
Investment banks and M&A boutiques looking to outsource the document production of a mandate, owners preparing a sale, funds or companies preparing a raise. White-label engagements available, under your templates.
Discuss a document project →Frequently asked questions about the Information Memorandum
What is an Information Memorandum?
The reference document handed to buyers once they have signed a confidentiality agreement: market, business, customers, organisation, financials and the equity story. Also called an info memo, or CIM. For an SME, count on 40 to 50 pages including appendices. It is written by the seller’s advisor and validated by management.
What is the difference between a teaser and an Information Memorandum?
The teaser presents the opportunity in two or three pages without naming the company, before any confidentiality agreement. The Information Memorandum names it and tells the rest of the story, once the NDA is signed.
How long does it take to write an IM?
Four to six weeks for an SME, including two weeks to collect and check the figures. The timetable depends on the quality of the numbers more than on the writing.
Who writes the IM, the seller or the advisor?
The advisor, from interviews with management and from the figures. Management validates every page: the document commits the seller in substance, since everything it states will be checked in due diligence.
Does the IM bind the seller?
Legally, it has no contractual value and carries a disclaimer; a knowingly false statement can still expose the seller, on grounds of fraudulent misrepresentation. In practice, yes: every statement will be verified in the data room, and a false one comes back as a price reduction or a warranty claim.
Can you take over an IM that has already been written?
Yes. Restructuring it, bringing the figures into line, raising the formal standard before distribution: a document already drafted is reworked faster than a blank page.
An Information Memorandum to produce?
Describe your transaction in full confidence: I will come back to you within 24 hours with a proposed structure, a timetable and a quote.
Get in touch