M&A financial due diligence for operators making consequential decisions.
Buy-side and sell-side financial analysis, quality of earnings thinking, and transaction support for small-scale M&A — applied with institutional discipline.
Diligence built for operators, not just spreadsheets.
Small-scale M&A is where most value is created and most value is destroyed. The financial story behind a target — or a seller — is rarely as clean as the CIM suggests.
We bring quality-of-earnings discipline to lower middle-market and SMB transactions: normalized EBITDA, working capital pegs, customer concentration, margin durability, and the operating realities that don't appear in the data room.
These engagements are intentionally not branded as audits, attest engagements, or formal QoE opinions — they are advisory and consulting analyses, structured to make your decision sharper.
What changes inside your business.
Clearer view of the target
Normalized earnings, working capital, and capex picture — translated into a defensible valuation conversation.
Risk-adjusted decision
Surfaced concentration, margin, and integration risks before they become post-close surprises.
Cleaner negotiation posture
Analytical support that strengthens your price, structure, and terms negotiations.
Sell-side readiness
For sellers: a financial picture organized to defend value and accelerate diligence.
What you can expect.
- Quality of earnings-style normalization analysis
- Working capital and net debt analysis
- Customer, product, and margin analysis
- Capex and run-rate assessment
- Buy-side or sell-side financial model
- Diligence findings memo
Best suited for operators who:
- Are evaluating an acquisition under $50M in enterprise value
- Are preparing a business for sale within the next 12–36 months
- Need analytical horsepower without a Big-4 engagement
- Want operator-grade thinking on margin, concentration, and integration risk
Frequently asked.
- Is this a formal Quality of Earnings (QoE) report?
- Our engagements are advisory and consulting in nature, structured to provide QoE-style analytical rigor without being represented as a formal QoE or attest engagement. Where a formal QoE is required, we coordinate with appropriate firms.
- Do you support sell-side preparation?
- Yes — sell-side readiness is a frequent engagement. We help owners organize the financial picture 12–24 months ahead of a transaction to defend value.
Bring institutional thinking to your next decision.
A 30-minute strategy call to pressure-test the financial questions in front of you — no pitch, no obligation.