Reported EBITDA is where you start, not where you finish. Quality of earnings work separates the recurring from the one-off, normalises what the owner was paying themselves, finds the deferred maintenance and the capital the business is going to need, and surfaces the contingent liabilities that come along with the entity. Unregistered state exposure. Misclassified workers. Uninsured risk.
We run diligence across the financial, tax and operational side, and tell you what we found in plain language. What changes the price. What changes the structure. And what should stop the deal.
What you get
Quality of earnings
Normalised EBITDA with every adjustment explained and backed up.
The working capital peg
A defensible normal level. It’s the term that most often costs money after closing.
What comes with it
State tax, classification and coverage exposure that transfers along with the entity.
Findings in plain English
What affects price, what affects structure, and what should end the process.
Due Diligence
Let's talk about due diligence.
Financial, tax and operational diligence: quality of earnings, working capital, contingent liabilities, customer concentration, and the adjustments that change what a business is worth.