Investment Banking Associate - Industrials

Investment Banking Associate - Industrials

About the Group

Blitzer, Clancy & Company is an award-winning, independent M&A and strategic advisory firm built on deep sector expertise for founders and investors navigating the transactions, opportunities, and strategic decisions that shape enduring businesses.

Our Industrials Group advises founders, family- and closely-held businesses, private equity sponsors, and global strategics across the industrial economy. Our coverage is organized around three core pillars — Industrial Technology, Advanced Manufacturing, and Aerospace & Defense — with a focus on businesses where differentiated technology, engineering expertise, specialized manufacturing capabilities, and mission-critical performance create durable competitive advantages.

Sub-sectors we cover:

• Industrial Technology: Automation & Controls; Test, Measurement & Instrumentation; Flow & Process Control; Motion Control; Industrial Software
• Advanced Manufacturing: Precision Manufacturing; Engineered Components & Systems; Advanced Materials; Manufacturing Technologies / Additive Manufacturing; Specialty Processes
• Aerospace & Defense: Engineered Components & Assemblies; Mission-Critical Systems; Mission-Critical Technologies; Electronics & Sensing; Aftermarket & MRO Services

Position Overview

Compensation Range: $185,000 - $225,000 / year

We are seeking an Investment Banking Associate to join the Industrials Group in Washington, DC. Associates are core members of lean, senior-led deal teams and have direct exposure to clients, counterparties, and firm leadership from day one. You will build the financial analyses, marketing materials, market intelligence, and diligence workstreams that drive live transactions, and you will own your work product end to end.

The analytical work centers on operating businesses and the factors that drive value across industrial markets — customer and program concentration, backlog, recurring and aftermarket revenue, pricing and volume, capacity utilization, manufacturing efficiency, capital intensity, working capital, and acquisition strategy. Because our teams are lean, high-performing Associates take meaningful ownership of execution, client interaction, and junior team development typically reserved for more senior professionals at larger institutions.

Key Responsibilities

Financial Analysis & Valuation

• Lead the development and review of three-statement operating models, LBO models, buy-and-build models, DCF valuations, and accretion-dilution analyses.
• Oversee comparable company and precedent transaction analyses across Industrial Technology, Advanced Manufacturing, Aerospace & Defense, and related industrial markets; maintain the group’s comps and transaction databases.
• Analyze revenue and margin by customer, program, product, facility, and end market, including organic growth, pricing, volume, mix, and acquisition impacts.
• Evaluate backlog, book-to-bill, recurring and aftermarket revenue, customer and program concentration, capacity utilization, throughput, labor productivity, and manufacturing footprint.
• Analyze capital intensity, working capital, inventory dynamics, maintenance and growth capex, and free cash flow conversion.

Transaction Execution

• Lead the preparation and review of confidential information memoranda, management presentations, teasers, buyer materials, lender presentations, and other transaction marketing materials.
• Manage key aspects of sell-side and buy-side processes end to end: buyer and target universe development, outreach tracking, IOI/LOI analysis, bid comparison, management presentations, negotiation support, and closing coordination.
• Own day-to-day diligence execution, manage virtual data rooms and request lists, and interface with legal, accounting, tax, insurance, environmental, technical, and commercial diligence advisors.
• Analyze customer contracts, backlog, program economics, manufacturing capabilities, supply-chain exposure, quality systems, certifications, and other operational diligence topics.
• Drive workstreams, timelines, and deliverables; coordinate junior team members and maintain status reporting for clients and internal stakeholders.

Sector Coverage & Business Development

• Maintain living coverage of the Industrials landscape across the group’s three pillars, including strategic acquirers, sponsor-backed platforms, active buy-and-build programs, and emerging independents.
• Track M&A activity, valuation multiples, capital flows, strategic priorities, and sector trends; oversee internal market updates and thematic research.
• Develop market maps and company screens across niche industrial verticals and fragmented consolidation markets.
• Lead the development of pitch books, market landscape studies, acquisition theses, and strategic alternatives analyses for prospective clients.
• Support origination through sector thesis development, target screening, prospective client research, and tailored outreach materials.

Qualifications

Required

• Bachelor’s degree with a strong academic record, preferably in Finance, Accounting, Economics, Engineering, or a related quantitative discipline.
• 3–5 years of relevant transaction experience, with prior investment banking experience strongly preferred; transaction advisory, corporate development, or private equity experience will also be considered.
• Demonstrated proficiency in financial modeling, valuation, and accounting, with the ability to independently review and improve junior team work product.
• Advanced Microsoft Excel and PowerPoint skills; ability to produce and review accurate, presentation-quality work product under tight deadlines.
• Exceptional written and verbal communication skills, including the ability to synthesize complex analysis into clear conclusions.
• Meticulous attention to detail, strong organizational skills, and the ability to manage multiple live workstreams and junior professionals simultaneously.
• Sound professional judgment and the discretion required to handle highly confidential client information.

Preferred

• Prior exposure to industrial technology, advanced manufacturing, aerospace & defense, engineered products, automation, electronics, specialty manufacturing, or related industrial sectors.
• Understanding of industrial business models and operating metrics, including backlog, book-to-bill, capacity utilization, price / volume / mix, aftermarket revenue, working capital, and capital expenditure requirements.
• Experience with roll-up or buy-and-build M&A programs, including add-on modeling, pro forma synergy analysis, and transaction execution.
• Familiarity with CapIQ, PitchBook, Grata, FactSet, Bloomberg, or comparable research and data platforms.
• Experience working in a virtual data room environment (Datasite, Intralinks, or similar).

What We Look For

We hire for ownership. The Associates who thrive in this group are intellectually curious about how industrial businesses actually operate, rigorous about accuracy, comfortable operating with limited direction, and able to keep their composure when a process gets difficult. Our clients are frequently founders and operators who have spent decades building highly specialized businesses; we expect our Associates to bring judgment, leadership, and commercial intuition to that relationship, not just execution.

What We Offer

• Deep specialization across Industrial Technology, Advanced Manufacturing, and Aerospace & Defense, with the deal flow to build genuine sector expertise and a differentiated industry perspective.
• Direct, sustained exposure to senior bankers, clients, and decision-makers, with meaningful responsibility for live transaction execution.
• Cross-border experience across North America, Europe, and Asia Pacific and collaboration across the firm’s broader sector practices.
• A meritocratic environment where responsibility, client exposure, and leadership opportunities are allocated based on demonstrated capability, not tenure.
• Comprehensive benefits including medical, dental, and vision coverage, 401(k), and paid time off.

Blitzer, Clancy & Company is an equal opportunity employer. We are committed to providing equal employment opportunities to all applicants and employees without regard to race, color, religion, sex, pregnancy, national origin, age, disability, genetic information, veteran status, sexual orientation, gender identity or expression, marital status, family responsibilities, personal appearance, political affiliation, or any other characteristic protected by applicable federal, state, or District of Columbia law. We believe diverse backgrounds, experiences, and perspectives strengthen our firm and our ability to advise clients. Employment decisions at Blitzer, Clancy & Company are based on qualifications, merit, performance, and the needs of the firm.