M&A due diligence support

The list every deal runs on

Every transaction, whatever the sector, ends up working through the same core request list: historical financials, the add back schedule, working capital detail, who the customers actually are and how concentrated they are, related party transactions. Rather than a buyer's team or an outside quality of earnings firm assembling that from scratch, we build and organise it straight from your books, ready to hand across.

Getting from reported to real earnings

The adjustment schedule is the deliverable that gets argued over hardest, and for good reason: it is the bridge from what the accounts say to what the business genuinely earns once owner compensation above market rate, a one-off legal bill, a discontinued line or non-recurring repairs are stripped back out. Every single adjustment traces to a real transaction. An add back with no source document attached is the quickest way a number stops being believed.

The peg that decides the final price

A working capital target set at closing, usually an average across a trailing period, sounds like a technicality until it starts moving the price adjustment itself. We build the trend analysis behind that number and the proposed peg calculation, because this is routinely one of the most contested figures in the entire deal.

Whose side, and who signs off

We act for one side of a given transaction only, buyer or seller, never both, to keep the work free of conflict. The independent quality of earnings opinion itself still comes from an outside firm engaged for that purpose, working alongside your deal counsel; we build what feeds them. This connects directly to exit readiness, the same diligence lens run before anyone has even put the business on the market. Every schedule here is built by our team, with each adjustment through senior principal review before a buyer, a seller or their advisors sees it.