PE Deal Evaluation

PE
Advisory.

Full-spectrum deal evaluation. The advisory pack a managing partner takes into IC.

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A Verdict workproduct

An IC-grade artifact, on every deal.

Sample output from a PE Advisory run. Synthetic deal, real workproduct shape.

Project Atlas
€420M LBO · NA specialty chemicals · Q1 2026
Verdict — Proceed with conditions
Key issues — 4 surfaced
  • Critical Customer concentration: top 3 = 47% of revenue. Single-buyer churn collapses the thesis.
  • Material EBITDA bridge unproven — $4.2M of synergy assumed without comparable-deal precedent.
  • Material Regulatory: EU REACH compliance review pending; outcome impacts 18% of forecast volume.
  • Watch Working capital seasonality understates Q4 cash pull by ~€8M.
Evidence — MOIC sensitivity
EntryBearBaseBull
9.5x1.8x2.6x3.4x
10.5x1.5x2.3x3.0x
11.5x1.2x2.0x2.7x

At 10.5x asking, base-case MOIC of 2.3x is below the 2.5x fund hurdle.

Recommended action

Proceed at 9.8x or below. Negotiate price down 70 bps from asking. Require seller indemnity on top-3 customer attrition (24-month tail). Make REACH clearance a closing condition.

Provenance
DocumentsCIM · QoE · Model · 3 industry reports
Confidence0.87 weighted
Sourced192 of 192 findings
Synthetic example · not a real deal Cortix Verdict · PE Advisory

What's in the advisory pack.

01
Executive summary & decision framework
Verdict, key findings, probability framing, red-flag triage, decision matrix — IC-ready in one pass.
02
Entry & exit pricing
MOIC sensitivity across multiples and scenarios. Comparable transactions, buyer universe, exit risks.
03
SPA risk & capital structure
Walk-away items, indemnity items, watch items. Recommended structure, lender universe, covenant package, downside stress.
04
Questions for management
Must-answer before binding offer. Should-answer before close. Generated from the gaps the analysis surfaced.
05
100-day value creation plan
Phased priorities, KPI dashboard, management incentive design, AI execution plan — derived from the deal-specific findings.

Who it's for.

PE deal teams evaluating acquisitions. Investment committees preparing for decision meetings. Operating partners scoping value creation before close. Placement agents and advisors who need independent analysis alongside vendor due diligence.

See PE Advisory on a deal of yours.

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The architecture
Cortix Stack.
Engines stacked and orchestrated at whatever scale the problem demands — running in parallel, without ceiling.
The reasoning
Cortix Lens.
A proprietary methodology that challenges, cross-examines, and resolves every finding before it surfaces.
Patent pending