Financial, Commercial and IT Due Diligence plus Transaction Support and SPA execution - under one roof, with one consistent valuation logic, for buy- and sell-side. Specialised in IT, Software and Tech.
Aligned findings, fixed points of contact and one consistent valuation logic - from the first red-flag analysis to the price formula in the SPA.
Earnings and asset position down to sustainable EBITDA, true net debt and normalised working capital - including target-specific KPIs such as ARR, churn or deferred revenue. On the buyer and the seller side.
Market, competition and demand assessed, and the business plan mirrored against market reality - we test whether the planned growth holds. With deep understanding of IT, software and technology companies.
Architecture, scalability, tech debt and security examined from an operator view - every tech risk translated into cost and price impact, including integration and buy-and-build readiness.
DD findings carried into price mechanics, warranties and earn-outs, plus support through signing, closing and post-closing - so insights do not get lost in a report, they land in the contract.
The price-relevant red flags are on the table within five working days. If the deal turns out to be a breaker, the mandate ends with a reduced flat fee.
You know the total price including the inclusive contingent before the process starts - no renegotiation at the end and no incentive to inflate the scope.
We answer ad-hoc questions within 24 hours and are reachable around the clock - full commitment for as long as your deal runs.
The transaction-services teams of the large audit firms often recruit internally from audit - the audit lens stays on. We come from deals and think from the transaction point of view.
Transaction services with an audit-DNA at their core, processes and people included.
CAPVIA - advisors who negotiate deals themselves.
Net Revenue Retention, ARR bridge and CAC payback instead of pure P&L mechanics - with IT and tech targets, it is the understanding behind the numbers that decides.
Structured databook from P&L, balance sheet and source files including revenue, margin and cash bridges - the factual base for all further analysis.
Sustainable EBITDA after adjusting for one-off and special effects and capitalised own work - the level on which the purchase price is set.
ARR/MRR, Net Revenue Retention, churn and deferred revenue - we separate recurring from one-off revenue and show the true revenue quality.
Full derivation including debt-like items, loans and provisions - directly connectable to the purchase price bridge.
Normal level and seasonality including minimum liquidity as a robust basis for the WC peg in the SPA - no later dispute about the target figure.
Bottom-up analysis of pipeline and growth assumptions including sensitivities and downside scenarios - we say whether the plan holds.
Market, competition and demand in the tech space - from SaaS to MedTech. We test not only the market size but the business model behind it.
Market size, growth, structural drivers and regulation - we quantify how attractive the addressable market really is.
Market shares, differentiation, pricing power and entry barriers - including how defensible the technological lead or moat really is.
Customer concentration, retention and cohort and churn analyses - we test how stable and how dependent demand actually is.
Recurring vs. project business, land-and-expand and pricing logic - we understand where the company really makes its money.
We mirror management growth assumptions against market reality - and identify where the plan diverges from reality.
Buy-and-build logic, cross-selling and internationalisation from a market view - the value drivers that actually carry the business case.
An operator perspective instead of a checklist - assessed by people who have built and scaled software and IT companies themselves, not from an audit template.
Does the architecture carry ten times the users - or are there single bottlenecks on which everything depends? We show where growth becomes risky.
How much hidden remediation is in the code - and how fast and safely can the team ship new features? We quantify the technical debt.
How easily would an attacker get in and what would a data breach cost? We test the real weak points, not just the certificate on display.
Can the product really do what sales promises - and how much of it is already outdated? We reconcile roadmap and reality.
Does the company really own what it sells? We check whether third-party or open-source code later becomes a legal problem.
What does operation cost per customer - and does the bill rise faster than revenue? We translate the technology into concrete euro figures.
DD insights do not get lost in the report - they land in price mechanics, warranties and earn-outs. On the buyer and the seller side.
We translate DD findings into concrete warranties, indemnities and price adjustments - so insights arrive in the contract.
Locked box vs. closing accounts, net-debt and working-capital bridges and definitions - the mechanics that decide what actually flows in the end.
KPI definition, covenants and shield and catch-up mechanics - earn-outs that hold in a dispute instead of becoming the breaking point.
We steer financial, legal, tax and the counterparty from one hand - a consistent factual base across all advisors.
Support through the closing process, from closing conditions to post-closing adjustments - so a signed deal also becomes a completed one.
Every price position is backed by robust numbers and available in real time - so claims are substantiated, not merely asserted.
One data room, one Q&A process, one central findings log. All workstreams run together and feed into the SPA.
We show the sustainable earnings power - adjusted for one-off effects.
We test whether the planned growth holds against market reality.
We assess whether the technology carries the planned growth.
Commercial assumptions validate the plan, technical risks flow into planning and purchase price.
Insights become price mechanics and contract clauses.
Investor-grade due diligence focused on transaction relevance, value levers and actionable findings - not audit documentation that is not decision-relevant.
Constant personal contacts instead of changing teams. No hire-and-fire culture, no revolving door of people across the process.
Every insight is trimmed to valuation, negotiation or integration relevance - no findings that only raise the invoice.
One integrated view of business model, financial performance, market attractiveness and tech scalability - the business behind the numbers, not silo reports.
Focus on small- and smaller mid-cap in IT, software and tech. We know the market, players, value drivers and specifics - many large-cap principles do not apply.
Besides academic finance expertise, our team has hands-on experience building and scaling businesses. That gives us practical judgment on what really drives value - not just theory.
We are happy to present our offering in a 30-minute scoping call - whether buy-side, sell-side or Vendor Due Diligence.
