Internship Memo

During my internship at Imperial Capital, I had the unique opportunity to work in the Mergers and Acquisitions department of the media and sports side. This department focuses on helping companies buy or merge with other companies within the sports industry. It was a fast-paced and exciting environment where every deal carried the potential to reshape entire businesses. However, given the specific department, the industry can be slow. Through this experience, I gained valuable insights into the banking industry, particularly in corporate finance, and developed skills I will carry forward in my career.

Day-to-Day

As an intern in M&A, my day-to-day tasks revolved around financial analysis and due diligence. One of my primary responsibilities was to help evaluate the financial health of companies and teams that were potential acquisition targets. Given that I was an intern, I was also tasked with reviewing old deals to help me understand the world I had joined. To do this, I would review financial statements, such as cash flows, balance sheets, and income statements, and input the data into models to forecast future performance.

In addition to financial analysis, I also assisted with preparing presentations for my MD, Associates, and Analysts. It was important to communicate our data findings clearly and compellingly so that they would be easier to understand. I often thought of these presentations as storytelling and making a recommendation on whether or not it would be a good investment. Even though most of these presentations were not important to the overall integrity of the firm, I believe that they helped me grow in knowledge.

Another exciting aspect of the M&A department was the negotiation process. I had the chance to sit in on meetings where bankers discussed the terms of a deal with clients and other banks. It was very similar to watching a chess game (I know chess is considered boring to most people), making strategic moves, and trying to get the best possible outcome. While I didn’t participate directly in negotiations, observing how the people I worked with balanced the interests of different stakeholders was fascinating. These negotiations could get quite complex, and sometimes, I would get lost in the shuffle of words.

Complex and Tedious

Working in M&A required an extremely high level of attention to detail. A small mistake in a financial model could lead to big problems down the line, so I quickly learned the importance of being meticulous. Even though it can be considered tedious work, it is a necessary evil to ensure that no mistakes occur down the line. Whether entering data into spreadsheets or double-checking calculations, I had to ensure everything was accurate.

This internship was incredibly beneficial to my future work and career. The internship also helped me develop strong analytical and problem-solving skills. Analyzing a company’s financials to determine its value involved identifying trends in the data I was given. If a company’s profits were declining, it would be up to me to dig deeper to understand why and explain to the people I worked for. Also, by asking questions, I was able to develop a deeper understanding of how businesses operate and what factors contribute to their success or failure.

Learning

One of the most valuable skills I gained during my time at Imperial Capital was the ability to communicate information in a simple way. In M&A, you often have to explain detailed financial data to clients who may need a background in finance. This summer helped me work on honing this skill through both written reports and verbal presentations. This ensured that my work was not only accurate but also accessible to a wide range of audiences, even though those audiences were just the three people I had been reporting to all summer.

In conclusion, my internship at Imperial Capital provided me with a wealth of knowledge and excellent hands-on experience in mergers and acquisitions. From analyzing financial statements to researching industry trends, I comprehensively understood the factors that drive corporate transactions. I really enjoyed the fast-paced environment this summer, which made this experience both challenging and rewarding. The skills and knowledge I gained throughout the summer from this incredible experience will help me with my future endeavors.

Flesh-Kincaid Grade Level: 12.1

Flesch Reading Ease : 44

Passive Sentences: 10.2