Business Services Industry
BIG 5 EYE NICHE WALL ST. IGNORES: GROWING PRACTICE IN M&A DEALS.
Crain's New York Business, August, 1999 by goldstein, matthew
When Sunbury Holdings wanted to buy a power plant from Pennsylvania's PPL Resources Inc., the Wisconsin power company didn't call on some big Wall Street investment firm to negotiate and arrange the financing for the $106 million deal. Sunbury instead turned to Big Five firm PricewaterhouseCoopers.
The global accounting and consulting firm assigned a team of four professionals to work on the Sunbury deal, which closed in May. ``A lot of investment banks weren't even interested in working with us because the deal was too small,'' says Dan Bittner, the chief financial officer for Sunbury Holdings, a subsidiary of Wisconsin Public Service Inc. While the deal is small by Wall Street standards, it's the kind of modest transaction that the Big Five are...
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