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The Pipeline: M&A and IPO Insights

Joe Mantone
M&A
Private Equity
Tariffs
IPO
IPO Market
Cross-Border M&A
KPMG
Industrial Manufacturing
M&A Activity
Middle East
Japan
India
Southeast Asia
Volatility
Regulatory Changes
Geopolitical Risk
Technology Investments
Energy and Infrastructure
Interest Rates
Mergers and Acquisitions

S&P Global Market Intelligence leverages its industry sources, data and analysis to discuss M&A, IPOs and all things dealmaking. Tune in for interviews with industry insiders who offer insights on the latest deal trends.

PublishesMonthlyEpisodes25Founded3 years ago
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Artwork for The Pipeline: M&A and IPO Insights

Latest Episodes

This episode of The Pipeline features a conversation about SpaceX that took place recently on MediaTalk, an S&P Global Market Intelligence podcast. The discussion breaks down the early trading days following SpaceX's historic IPO and notes how SpaceX... more

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In this episode of The Pipeline podcast, Vinod Chandiramani, head of capital advisory at Solomon Partners, explains why middle-market M&A has remained sluggish, noting higher borrowing costs, margin pressure and valuation gaps between buyers and sell... more

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Jay Ritter has spent decades studying IPOs, and he has become a go-to source on the topic for policymakers and journalists alike. Ritter joined the Pipeline podcast to discuss his work as the director of the IPO Initiative at the University of Florid... more

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Kevin Desai, PwC's US and Mexico deals leader, joined The Pipeline podcast to discuss how recent market volatility is impacting M&A. The increase in uncertainty can give buyers and sellers pause as they face a more complicated financing picture and l... more

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Recent Guests

John Fletcher
Senior Research Analyst at Kagan, leads America's Research Teams for broadband, multi-channel video and mobile tower
Kagan
Episode: Breaking down SpaceX's historic public offering, post-IPO funding priorities
Iuri Struta
Tech Capital Markets Reporter covering AI, data centers, and M&A
S&P Global Market Intelligence
Episode: Breaking down SpaceX's historic public offering, post-IPO funding priorities
Vinod Chandiramani
Head of Capital Advisory at Solomon Partners
Solomon Partners
Episode: How hybrid capital can unlock value in a slow middle-market M&A market
Jay Ritter
Director of the IPO Initiative at University of Florida
University of Florida
Episode: The challenges the SEC and high-profile companies face with the IPO market
Kevin Desai
US and Mexico Deal Team Leader at PwC
PwC
Episode: Dealing in an uncertain M&A environment
Chris Fenske
Head of Capital Markets Research, S&P Global Market Intelligence Primary Markets Group
S&P Global Market Intelligence
Episode: Taking a scientific approach to studying IPOs
Mark Lehmann
Vice Chair of Citizens Commercial Bank
Citizens Commercial Bank
Episode: IPO window widening; the importance of equity research
Paul Aversano
Managing Director with Alvarez & Marsal and leader of the Global Transaction Advisory Group.
Alvarez & Marsal
Episode: Cross-border M&A hotspots emerge from a 'vortex of volatility'
Gerard Cassidy
Analyst at RBC Capital Markets, covering large cap bank stocks
RBC Capital Markets
Episode: Discussing the key drivers behind a big deal quarter for the large banks

Host

Joe Mantone
Host of The Pipeline

Chart Rankings

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Talking Points

Recent interactions between the hosts and their guests.

Breaking down SpaceX's historic public offering, post-IPO funding priorities
Q: What are the main drivers you're watching for SpaceX in the coming months after the IPO?
The hosts highlight CapEx and OpEx dynamics, broadband pricing strategies, and the Starlink/data center strategy as critical levers; they also stress the need to see how the AI division contributes to EBITDA and whether the AI-focused growth translates into sustainable profits.
Breaking down SpaceX's historic public offering, post-IPO funding priorities
Q: What did you make of SpaceX's acquisitions and how they might influence the AI story and overall stock performance?
Iuri and John discuss the Anisphere (Corsair) deal as an all-stock transaction that boosts SpaceX's AI ambitions and signals how management intends to convert equity value into strategic growth, though this raises questions about future dilution and the pace of AI-driven revenue.
Breaking down SpaceX's historic public offering, post-IPO funding priorities
Q: Can you tell us about the metric you looked at ahead of the IPO comparing SpaceX to .com era valuations?
John explains that the key comparison was the revenue multiple; SpaceX traded around 100x revenue, a figure that stands out when contrasted with prior tech bubbles where valuations were less tied to revenue momentum. He notes the unusual nature of SpaceX's revenue base and that the perspective shifts when considering trailing revenue versus pre-revenue models.
How hybrid capital can unlock value in a slow middle-market M&A market
Q: What drew you to Solomon Partners and how has the role evolved?
The opportunity was twofold: to leverage Solomon's client base to expand the product offering beyond traditional M&A and to monetize the firm's strong industry content in new markets, particularly through creditor advisory work.
The challenges the SEC and high-profile companies face with the IPO market
Q: How might high-valuation private companies like SpaceX and OpenAI fare if they go public?
valuations at IPO must be justified by future revenue growth and profits; data suggests large, high-valuation IPOs can underperform unless revenue visibilities are strong, and the presence of a huge price-to-sales ratio increases the risk that expectations aren't met post-IPO.

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Frequently Asked Questions About The Pipeline: M&A and IPO Insights

What is The Pipeline: M&A and IPO Insights about and what kind of topics does it cover?

A business-focused series that centers on dealmaking, with recurring discussions on M&A activity, IPO dynamics, regulatory shifts, and market volatility. Episodes frequently feature senior practitioners and researchers from top firms and market intelligence providers, offering practitioner perspectives on deal timelines, valuation trends, cross-border activity, and the evolving role of capital markets in financing growth. A standout aspect is the guest mix: deal advisory leaders, investment bankers, equity researchers, and market researchers share actionable insight on how policy, rates, and geopolitics shape M&A and IPO activity. The show is especially useful for listeners who want timely, strategy-oriented views on how large and mid-marke... more

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1. Exchanges
2. WSJ What’s News
3. Making Sense
4. At Any Rate
5. Thoughts on the Market

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The Pipeline: M&A and IPO Insights launched 3 years ago and published 25 episodes to date. You can find more information about this podcast including rankings, audience demographics and engagement in our podcast database.

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What guests have appeared on The Pipeline: M&A and IPO Insights?

Recent guests on The Pipeline: M&A and IPO Insights include:

1. John Fletcher
2. Iuri Struta
3. Vinod Chandiramani
4. Jay Ritter
5. Kevin Desai
6. Chris Fenske
7. Mark Lehmann
8. Paul Aversano

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