Quality of Earnings
Independent Transaction Advisory Expertise
Transaction Advisory Services for Buyers, Sellers, and Investors
Financial Clarity. Better Decisions. Stronger Outcomes.
Comprehensive Transaction Advisory Services
Buy-Side Quality of Earnings
Gain confidence before closing.
Our buy-side Quality of Earnings analyses provide a detailed understanding of a target company's earnings, cash flow, working capital requirements, and key business drivers. We identify potential risks, normalize EBITDA, and help investors understand the true economics of the business.
Key Deliverables
- Adjusted EBITDA analysis
- Revenue and margin validation
- Customer concentration review
- Working capital assessment
- Debt and debt-like items identification and analysis
- Cash flow analysis
- Financial risk identification
- Proof of cash analysis
Sell-Side Quality of Earnings
Prepare for a successful exit.
A well-prepared seller enters the market with credibility and confidence. Our sell-side Quality of Earnings reports help management teams proactively address buyer concerns, streamline diligence, and support premium valuations.
Benefits
- Reduce buyer diligence disruptions
- Increase deal certainty
- Accelerate transaction timelines
- Support valuation expectations
- Improve negotiating leverage
- Boost valuation
Transaction Support
Experienced guidance throughout the deal lifecycle.
From initial diligence through closing, we provide practical transaction support to help stakeholders navigate financial complexities and maintain deal momentum.
Support Areas
- Financial due diligence
- Data room preparation
- Deal process management
- Financial modeling
- Purchase agreement support
- Closing adjustments review
- Support to closing
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Pre-acceptance client evaluation analysis
Working Capital Dispute Analysis
Resolve post-closing disputes with objective financial analysis.
Working capital adjustments are among the most common sources of post-closing disputes. We provide independent analysis and expert support to evaluate working capital calculations, identify accounting inconsistencies, and assist in dispute resolution.
Areas of Expertise
- Net working capital calculations
- Peg development and analysis
- Closing balance sheet reviews
- Accounting policy consistency
- Purchase agreement interpretation
- Expert financial support
Carveout Financial Analysis
Transform complexity into actionable insights.
Carveout transactions present unique challenges involving shared services, cost allocations, and stand-alone financial reporting. Our team helps buyers and sellers understand the financial realities of separated business units.
Capabilities
- Stand-alone EBITDA development
- Shared cost allocation analysis
- TSA assessment
- Carveout financial statement preparation
- Separation planning support
- Synergy and dis-synergy evaluation
M&A Valuation Services
Independent valuations grounded in market realities.
We provide valuation analyses that support acquisitions, divestitures, strategic planning, and investment decisions. Our valuation approach combines financial rigor with industry-specific insights.
Valuation Services
- Fair market value assessments
- Purchase price allocation support
- Strategic acquisition analysis
- Sell-side valuation readiness
- Financial modeling
- Comparable company and transaction analysis
- Fairness opinions
Why Clients Choose Us
Deep Transaction Experience
Our professionals have advised on transactions across multiple industries and deal sizes, providing practical solutions that drive results.
Independent Perspective
We deliver objective, fact-based analyses designed to support informed decision-making.
Responsive Execution
Transactions move quickly. Our team delivers timely insights to keep deals progressing.
Actionable Recommendations
We focus on findings that matter, helping clients prioritize key risks and opportunities.
Service Offerings
Buy-Side QoE
Sell-Side QoE
Transaction Support
Working Capital Disputes
Carveouts
Valuations
Clients Served
Private Equity Groups
Independent Sponsors
Investment Bankers/Brokers
Corporate Development Groups
Search Funds
Revenues between $2mm-$200mm
Industries Served
Manufacturing
Distribution
Business Services
Healthcare Services
Healthcare Technology
Construction & Infrastructure
Transportation & Logistics
Consumer Products
Industrial Services
Technology & Software
Commercial/Residential Foundation Repair and Home Services
- Company was approached with a buyout offer from a large PE-backed rollup on a tight closing timeline.
- Performed a 2-week abridged sell-side QOE to boost valuation by ~20%
- Assisted sell-side advisor with buyside diligence support and modeling through closing
- Shortened timeline to less than 75 days from LOI to close
- Provided tax structuring and post-transaction integration support
Commercial Construction (Roofing Installation and Services)
- Provided buyside QOE services to support carveout of roofing and services business from integrated platform owned by independent sponsor
- Conducted extensive analysis on seller's percentage of completion accounting methodology including lookback analysis to properly allocate revenues/margin across the historical period based on project estimates
- Provided working capital support to successfully negotiate additional working capital payment to buyer at close by illustrating seller shortfall in relation to agreed-upon working capital peg
Multi-Entity Upfitter and Modification Services of Large Commercial Vehicles
- Provided buyside QOE services to support combined view of multi-entity financial statements for debt placement and acquisition of previously non-combined entities
- Supported transaction through debt-raise efforts serving as point of contacts for lenders and credit committee
- Referred additional lenders and debt providers to support additional buyer options and term sheets
Let's Discuss Your Next Transaction
Whether you are evaluating an acquisition, preparing for a sale, resolving a working capital dispute, or assessing a carveout opportunity, our team can provide the financial insights needed to achieve a successful outcome.
