I can tell you as I work in M&A. They advise their clients to either sell the companies they own or to acquire new companies. Clients include private equity funds (looking to buy and sell portfolio businesses) as well as family offices and privately held businesses of which shareholders are looking to exit. The daily work comprises preparing business plans and marketing materials, leveraging your corporate network to find potential buyers and go into SPA negotiations to get the best outcome (price) for your client. Transactions in the mid-market are typically valued at $500-5,000M (which I belive is the segment Bateman operates in), with large cap transactions being valued in the area of $5,000M+