Financial Due Diligence

Service 01 · Financial Due Diligence

Know what you're
buying, clearly

A considered review of the target's financial history — structured so the findings are traceable, the assumptions visible, and the picture honest. Suited to buyers who want solid ground before they commit.

What This Delivers

A clear view you can rely on

When you're considering a significant acquisition, you need to understand what the numbers actually show — not a polished version of them. Financial due diligence, done carefully, gives you that.

The work we produce is structured to be challenged and queried. Every finding points back to a source. Adjustments to reported figures are identified and explained, not left as silent assumptions. You leave with a clearer understanding of what you're acquiring, where the numbers hold, and where they warrant further attention.

That clarity is worth having before the terms are agreed — not after.

Traceable findings

Every conclusion linked back to source data you can inspect

Plain language

Technical findings explained without unnecessary complexity

Scope-matched fees

Quoted against the transaction, not applied generically

Structured report

A format designed for review, not just executive summary

The Challenge

Acquiring without a clear view carries real cost

Reported figures and actual performance don't always align

Financial statements are prepared under accounting rules that can legitimately produce very different pictures of the same business. One-off items, timing differences, and management choices all shape what's presented. Without a careful review, it's difficult to know what recurring earnings actually look like.

The deal timeline creates pressure to move quickly

When exclusivity is running and advisers are pushing toward signing, there's a natural tendency to treat the financial review as a formality. That's precisely when careful analysis matters most — before the terms are locked in rather than after.

Assumptions embedded in a model are hard to question later

Once a price has been anchored around a set of assumptions, it's uncomfortable to revisit them. A review that surfaces those assumptions clearly — before they harden — gives you something genuinely useful: the ability to negotiate from a position of understanding.

Our Approach

Evidence-led analysis, scoped to your transaction

Financial due diligence at Mergevue starts from the documents and works outward. We don't begin with a conclusion. We read the accounts carefully, identify what's there and what's absent, and present findings in a way that supports your decision-making rather than substituting for it.

The scope is agreed with you before work begins. For some transactions that means a focused review of two or three years of earnings and cash flows. For others it extends to a more detailed examination of specific areas — working capital, related-party transactions, off-balance-sheet arrangements. The work is sized to what is actually needed.

We are independent of the transaction outcome. That means the analysis is not shaped by a preference for the deal to proceed or not — it reflects what the numbers show.

01

Historical earnings review

Analysis of reported earnings over two to three years, with adjustments to remove items that don't reflect ongoing performance — clearly identified and explained.

02

Balance sheet review

An examination of asset and liability positions, with attention to areas that carry risk or uncertainty — contingencies, receivables quality, debt arrangements.

03

Cash flow analysis

Understanding how earnings convert to cash — and where they don't — is often more revealing than the income statement alone. We examine cash generation patterns carefully.

04

Key findings and flags

A clear summary of what the review found, what it didn't resolve, and where further scrutiny would be warranted — without framing it as a recommendation to proceed or withdraw.

Working Together

What an engagement looks like in practice

The process is kept straightforward. You remain informed throughout, and there are no surprises in the output.

Step 1

Opening call

We talk through the transaction, the data available, and what you need to understand. No commitment involved at this point.

Step 2

Scope and proposal

A written scope of work and fee, agreed before anything begins. You know what's included and what sits outside the engagement.

Step 3

Data room review

We work through the financial data methodically, raising questions as they arise and keeping you informed of progress without unnecessary interruption.

Step 4

Report and debrief

Findings delivered in a structured report. We then walk you through the output and remain available for follow-up questions with you or your advisers.

Investment

Priced against the scope, not a standard rate card

Financial due diligence varies considerably in depth depending on the size and complexity of the transaction. We price accordingly.

Typical Range

USD 5,000 – 25,000

Quoted on scope after an initial conversation

The fee is agreed in writing before work begins. Scope changes during the engagement are discussed and re-scoped — there are no silent additions to the bill.

What's Included

  • Historical earnings analysis (two to three years, scope dependent)
  • Normalisation schedule with individual adjustment notes
  • Balance sheet and liability review within agreed scope
  • Cash flow and working capital overview
  • Structured written report with key findings and flags
  • Debrief call and post-delivery questions supported

Our Method

How the analysis is structured and measured

Every finding in a financial due diligence report is anchored to source data. We don't work from summaries or management packs as the primary source — we trace adjustments back to the underlying records wherever the data room allows it.

Where something cannot be verified, we say so clearly. Where assumptions have been made, we identify them. The output is most useful when a reader can understand not just the conclusion but the reasoning behind it — including its limits.

Findings are typically delivered within two to four weeks of full data room access, depending on the scope agreed at the start.

Timeline: 2 – 4 weeks from data access

Subject to data room completeness and agreed scope. Timelines are discussed and confirmed at the proposal stage so they align with the transaction timetable.

Progress: Questions raised as they arise

Rather than saving queries for the end, we surface them during the review. This reduces the risk of last-minute findings and allows you to seek clarifications from the target in good time.

Deliverable: A report built for scrutiny

The final report is structured to support review by you and your legal, tax, and financial advisers. It's designed to be read in full, not just executive-summarised.

Our Commitment

What you can expect from working with us

The scope is fixed in writing before work begins

No change to the scope, and no change to the fee, without your agreement. If the review reveals something that warrants additional work, we will tell you — and let you decide whether to extend the scope.

Independent analysis, not influenced by the outcome

We have no interest in whether the transaction proceeds. The findings reflect what we found — not what any party to the deal would prefer to see.

An initial conversation carries no obligation

The first step is simply a conversation about your situation and what you need. If we're not the right fit, or the timing isn't right, we'll say so honestly.

Getting Started

The path forward is straightforward

The first step is simply getting in touch. You don't need to have a fully formed brief — many conversations start with a transaction that's still taking shape. A short exchange about what you're looking at is enough to understand whether financial due diligence is something we can usefully help with, and at what scope.

From there, the process is clear: an agreed scope, a fixed fee, and work that produces something you can rely on.

01 · Send us a message or email [email protected]
02 · We'll arrange a brief call to discuss your situation
03 · If there's a fit, we'll prepare a written scope and proposal
04 · Work begins once the scope is agreed — no earlier

Financial Due Diligence

A transaction is worth understanding clearly

If you have an acquisition in view and want a careful, honest review of the financials before you proceed, we'd be glad to talk through how we might be useful.

Start a Conversation

No obligation — just an honest exchange about your situation