Sector 01 / Private equity
Support at every stage of the deal lifecycle.
From commercial due diligence through to post-acquisition value creation and vendor due diligence, with teams that are smaller and more senior than the alternative.
Overview
Hypothesis-led, and aligned to the thesis being tested.
We have worked with private equity funds across every stage of the deal life-cycle, from commercial due diligence through to post-acquisition value creation and vendor due diligence.
Our teams are deliberately smaller and more senior than those of other consultancies. On a prospective acquisition that shows up as a responsive, hypothesis-led approach, worked tightly around the investment thesis you need validated rather than a standard scope applied to every deal.
Post-acquisition, we support the execution of value-creation and turnaround strategies, providing the analytical weight management teams need to hold a complex growth plan together while they are still running the business.
The transaction cycle
Six points where we are useful.
Proprietary methods at each stage, a sector specialist alongside, and a team small enough to turn work around inside deal timeframes.
Stage 01 / Target screening
M&A strategy first: the role of M&A, the timeframe, the capability gaps to be closed by acquisition. Then long-list refinement, short-list screening against a defined framework, and in-depth primary research on the short list, including initial approaches made alongside your bankers.
Stage 02 / Commercial due diligence
Hypothesis development, then a bespoke program of analytical modules: market sizing, primary and secondary research, customer analysis, business assessment, financial modelling. Synthesised into a report that also carries into lender discussions on structure and financing.
Stage 03 / 100 day planning
Built on Zenith PMO Studio: value creation prioritised, responsibilities allocated clearly between acquirer and management, a metric-driven agile cadence that surfaces issues early, and a library of initiative templates so delivery starts in week one.
Stage 04 / Strategy execution
Proprietary methods, tools and templates applied collaboratively with the management team, which is what produces genuine alignment between acquirer and management rather than a plan imposed. Clients typically see a 40–100x return on our fees.
Stage 05 / Value creation
A rigorous, data-driven baseline of the operating model and cost base, clear prioritisation so trading holds through the change, and proprietary tools to track benefits through to run-rate. Also typically a 40–100x return on fees.
Stage 06 / Vendor due diligence
Commercial vendor due diligence covering market context, positioning and growth outlook. Where the growth story is thin, we work with management to identify the drivers that can support a higher valuation multiple at exit.
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Selected clients
Funds the leadership team has worked with.
Support provided to leading international and ANZ private equity funds, across diligence, value creation and exit.
Common questions
Questions we are asked.
When in a deal should we bring you in?
At any of the six stages, and often at more than one. We work with funds from M&A screening and commercial due diligence through to 100 day planning, value creation and vendor due diligence, so the team that tested the thesis can carry what it learned into the hold period rather than handing it over.
What does commercial due diligence cover?
Hypothesis development first, then a bespoke program of analytical modules: market sizing, primary and secondary research, customer analysis, business assessment and financial modelling. The synthesis validates or refines the investment thesis, and it carries into lender discussions on structure and financing.
Can you work to a deal timetable?
Yes. Our teams are deliberately smaller and more senior than those of other consultancies, which is what makes it possible to turn work around inside deal timeframes rather than staffing up and briefing down.
Do you stay involved after completion?
Usually. Post-acquisition we support the execution of value creation and turnaround strategies, providing the analytical weight a management team needs to hold a complex growth plan together while it is still running the business.
Starting a conversation
Schedule a call.
Most engagements begin with a short conversation with a principal about the thesis you are testing, and whether four weeks is enough to settle it.