M&A due diligence support

The request list drives everything

A deal's diligence phase runs on a checklist: financial history by entity, add-back schedules, related-party disclosures, customer concentration, working capital trend. We build that material directly from your books, organised so a buyer's accountants or an outside quality-of-earnings firm can move through it without chasing gaps, in euros with the entity detail intact underneath.

Where normalised earnings actually come from

The add-back schedule walks from reported earnings to a normalised figure, entity by entity: above-market owner pay, a one-off legal bill, a discontinued line, a repair that will not recur. Each adjustment is tied to a specific invoice or transaction, because an add-back a buyer cannot trace back to a source document gets challenged, and that challenge spreads doubt to everything else on the page.

The number that decides the closing peg

Most deals set a working capital target at closing based on a trailing average. We build the trend behind that target and the proposed peg, a figure that gets argued over more than almost any other line in a deal, especially once it is converted between currencies from more than one entity into the closing structure.

Confidentiality, and staying on one side

We act for the buyer or the seller, never both on the same transaction. Personal data inside a data room moves under Standard Contractual Clauses with a transfer impact assessment on file before reaching our team. A formal quality-of-earnings opinion, and any local statutory sign-off, sits with an outside firm or credentialed local partner; we prepare what sits underneath it, and this connects closely to exit-readiness work done ahead of a sale rather than under deal pressure.