拉扎德（Lazard）和杰弗里斯（Jefferies）A&D Groups

Not even interested in ADG but +1 to this comment for providing actually helpful info while also providing actual info on dealflow rather than just leaving it at "strong" or "weak" like most other comments.

Wish allWSOthreads could be this in-depth/informative. +1 SB, don't even care about the sector

Based on my interactions with the team over there, Jeff and Greg seem like phenomenal guys, so definitely would not be surprised if they built a great culture in the office from the top down.

HLand Baird are both great in the space, although they definitely focus more on theMMmarket. HL's ADG team is based in Nova. They lost some heavy hitters a few years ago (who actually went to Baird), but reloaded by buying Bluestone, an ADG boutique. We don't interact with them a lot as they operate in theMMthe vast majority of the time, but I've heard the seniors in the office are very bright while the juniors are grinded to the bone. They do a lot of deals (as with the rest of HL), but their deals are mostly in the LMM-MM space. A lot ofMMsponsor sell-sides. Some recent deals that I can think of:

- Mantech收购Gryphon Technologies的卖方顾问（3.5亿美元）

- Sell-sideadvisor for Macquarie's acquisition of Procentrix

- Buy-side advisor for CI Capital's acquisition of Cadmus

- ACP收购Stellant的卖方顾问

- Sell-side advisor for ACP's acquisition of MCR

- Sell-side advisor for Shield AI's acquisition of Martin UAV

贝尔德（Baird）的团队是国防和政府，我相信工业公司会处理航空。自从他们从HL的ADG团队中偷猎几个造雨者以来，他们肯定有了很多进步。办公室很忙，但是人们看起来很不错。他们的交易流量也很稳定，很多政府服务。manbetx 2.0下载最近的一些交易：

- Sell-side advisor for GovernmentCIO's acquisition of Salient CRGT

- Buy-side advisor for Parsons's acquisition of BlackHorse Solutions ($203M)

- Sell-side advisor for SAIC's acquisition of Halfaker & Associates ($250M)

- Sell-side埃森哲顾问收购Novetta

- Buy-side advisor for Leidos's acquisition of Dynetics ($1.7B)

- Sell-side advisor forBooz Allen's acquisition of Liberty IT ($725M)

Besides some ADG boutiques likeKippsDeSanto, I believeWilliam Blair also has夏洛特的ADG办公室。不知道他们是否招募SAs直接进入ADG组或CLTSAs不过是通才。

Baird不直接招募ADG组吗？我觉得这些办公室基本上是在Nova/Charlotte/LA的地理地理上的任何办事处，都必须直接招募。

They're located in Charlotte, and are a pretty small team. I believe the seniors are all poached from BlackArch. Don't know anybody there, but I've heard anecdotally that the group head is a nice guy. Deal flow is definitely weaker than the leadingMMADG groups,HLand Baird, but the Blair group is also smaller. Also do a fair number of LMM-MM sponsor sell-sides. Some deals:

- Sell-sideadvisor for JF Lehman's acquisition of CTS Engines

- Avon Rubber收购Wendy团队的买入顾问（1.3亿美元）

- Sell-side advisor for MDP Covant's acquisition of Aevex Aerospace

- Sell-side advisor for Ross aviation's acquisition of Retrix

They started with like 5 people in 2017. I think it's now up to 50+, but that's not just ADG. They now have Healthcare, Tech and T&L MDs in Charlotte. Heard second hand that it will be their second biggest office soon, so sounds like they are doing well.

It's honestly a lot more informative than the usual threads of "X bank is very strong/weak in the space". Wish most other threads onWSOwere nearly this comprehensive.

Both are solid but aren't the best in the space. CVP has Honeywell and GE, two conglomerates that have ADG operations, as clients, so they get those deals, but I can't think of too many deals they've done in the space besides those clients' deals.

I think PWP is stronger in the ADG space, but still not as strong as Jefferies or Lazard, and obviously nowhere close to their number of deals. A few recent deals (perhaps the only recent ADG deals they've done) that come to my mind:

- Sell-side advisor for NextGen Acquisition SPAC/处女轨道($3B)

- Sell-side advisor for诺斯罗普·格鲁曼（Northrop Grumman）'s divestiture of its IT business to Veritas ($3.4B)

GS/多发性硬化症/Citi are very强的from aBBpoint of view, andEvercore is another强的EB。在过去的几年中，女士雷神/UTC（$ 90B），Meggit/Parker-Hannifan（$ 10B），Cobham/Advent（$ 5B），Rocket Lab/vector Accorisition（$ 4B）和Ultra Electronics/Advent（$ 3.5B），用于姓名。女士和雷神公司的关系非常紧密，他们还经常向雷神公司提供较小的收购。GSdid Raytheon/UTC, Cobham/Advent, and Aerojet Rocketdyne/洛克希德·马丁($3.8B), and Cobham Mission Systems/Eaton Corp, off the top of my head. Evercore also did Raytheon/UTc, Aerojet Rocketdyne/Lockheed Martin, L3 Harris/Leidos, Arcutrus UAV/Aerovironment. Citi was the exclusive sell-side advisor for Raytheon/UTC (RBConly didthe fairness opinion), and also advised on Meggit/Parker-Hannifan, Bombardier/Alstom ($6B), Cobham/Advent, and Aerojet Rocketdyne/Lockheed Martin.

Macquarie is pretty strong in ADG, but mainly because of the firm's own infra fund, which Macquarie also advises for (some recent deals include selling the fund's Atlantic Aviation toKKRand selling Dovel to Veritas). The ADG head at Macquarie actually used to be co-head of ADG at Jefferies and has a pretty strong relationship with Veritas from those days so they advise Veritas quite a bit as well (one deal that comes to mind was advising Veritas on their sale of Alion Science to Huntington Ingalls). Other recent deals include是一般/ KPS。

DATS (Defense, Aerospace, and Tech Services) used to be one of WF's strongest verticals until the rainmakers left for Jefferies (The current Jefferies ADG seniors are ex-Wells).

overall, a number ofBBSare relatively active in the large-cap space because of financing relationships, withGS/MS/CITI领导背包。您会在同一头条新闻交易中看到很多东西，与这些交易一样，买方往往有很多顾问（由于融资）。

Among the non-BBs, Evercore is probably the most active in the large-cap space, with Lazard also making appearances as they have a few large-cap clients (Thales, Airbus). In the mid-cap and UMM space, Jefferies, Lazard, and Evercore are all very strong.