Rebuilt from the transactions, not the summary tabs.
Sell-side figures arrive in summary form. We rebuild the figures that drive valuation from the lowest level of data available in the room: invoices, ledgers, and bank activity.
A second set of numbers, rebuilt from the ledger, before anyone signs.
What we rebuild
- Revenue by customer, product, and channel
- Customer cohorts, retention, and churn
- Customer and supplier concentration
- Gross margin by product or service line
- Working capital trends
- Proposed EBITDA adjustments, tested against the underlying entries
How it relates to your QoE
The QoE pre-read is an input, not a replacement. Lenders and insurers will still expect a signed QoE from an accounting firm. What changes is where that work starts: your QoE provider receives a map of the accounts and adjustments that need attention, and can spend the engagement testing them rather than finding them.
What it gives your team
01
A head start on the most expensive workstream
QoE work in the lower middle market typically runs three to six weeks. A pre-read on day three focuses it.
02
A second opinion on the seller's adjustments
Add-backs the ledger does not support are flagged early, when they can still be negotiated.
03
A cross-check on your own QoE
If our rebuild and the QoE disagree, the reason should be understood before signing.
Discuss a transaction under LOI.
Share the sector, the deal size, and the end of exclusivity. We respond within one business day with an assessment of fit and the proposed scope of the report.