Is it necessary for a buyer to utilize an investment bank in their search for acquisition targets?

Utilizing an investment bank in the search for acquisition targets is not a strict requirement for a buyer. While investment banks can offer valuable services, such as financial advisory, market analysis, and assistance with negotiations, buyers can choose to pursue acquisition opportunities independently or with other advisors. Companies might have internal teams equipped to handle acquisition searches or may rely on alternative advisory services. This flexibility allows buyers to tailor their approach based on their specific needs, resources, and the scale of the acquisition. While engaging an investment bank can enhance the process through expertise and established networks, it is ultimately the buyer's decision whether to involve them or not.