Deal diligence for private equity
Verify the seller's numbers from the documents in the data room, not from the summary that came with them.
SpreadSpace™ reads the financial statements, tax returns, bank statements and supporting schedules a seller places in the data room and spreads them for the deal team. Every extracted figure keeps a link to the page it came from, so an associate, a vice president or the investment committee can open the source behind any number.
Build adjusted EBITDA with the add-backs shown, line public comparables up from their 10-Ks and carry the exhibits into the memo in your firm's template. Work in SpreadSpace or embed the workspace in the deal platform your team already uses.
Start from the data room, not the summary
Upload private-company audits, reviewed financial statements, business tax returns, bank statements and debt schedules from the seller. SpreadSpace reads the supported statements and schedules and keeps each company, reporting period and stated unit identifiable.
Internal statements and exports from the company's accounting system enter the same review. Supported consolidating statements keep each entity's column and the reported eliminations beside the consolidated total, so the team sets the scope of the deal before a figure is counted twice.
As diligence progresses, add current earnings reports, quarterly earnings updates and bespoke financial updates, including 10-Q filings, 8-K earnings releases and 10-K/A amendments where relevant. Review the supported financial statements and schedules with their own reporting periods and source pages before carrying the updated figures into the analysis.
Open the page behind any figure
A source-linked figure opens the uploaded document at the highlighted line. When the investment committee asks where a number came from, the answer is the page, not a recollection.
For derived figures, the contributing rows and their own sources stay available. The reviewer sees what a total includes before relying on it.
Build adjusted EBITDA with the add-backs shown
The reported figure and the deal team's view of it stay separate. Analysts choose the add-backs, and the spread shows each one beside the reported line it adjusts, with the period and the supporting document attached.
Lay out management's proposed adjustments and the team's own in the spreadsheet, so the committee can see which earnings number is the seller's and which is yours.
Line up the comparables from their 10-Ks
Upload the 10-K filings of public peers and the extracted statements take the same presentation as the target's under your firm's chart of accounts. Compare margins, growth and leverage across the set with the reported lines kept behind the mapped figures.
Supported tables from the notes to the financial statements sit beside the primary statements, so the detail behind a reported balance is available where the comparison needs it.
Write the investment committee memo in your template
Upload the memo your committee already reads, as a PDF or Word document, and SpreadSpace reproduces its structure as a reusable template. Bring the spread, the adjusted EBITDA schedule and the comparables into it as exhibits and write the recommendation around them.
Reviewers open a figure in the exhibit and land on its source. Finalizing records the version the committee saw, and reopening it is an explicit, recorded step.
Bring the review into your deal platform
Use the native workspace or embed the review in the deal management system your team already runs. Documents, spreads, source review and the memo appear inside your application, and an integration can retrieve finalized spreads and memo renders through the API.
Keep exploring
Work together
Review loans
Private equity
M&A advisory
- M&A advisoryWork the sell side and the buy side from the same spread.
- Sell-side advisorySpread the company's numbers before a buyer does.
- Buy-side advisoryTest the seller's adjustments against the data room.
- 10-K and 10-Q extractionBring reported financials into your analysis.
- Business valuation memosWrite valuation memos in your firm's format.
Run the workflow on a representative data room
Bring the documents from a recent deal and the memo your committee reads. Follow one figure from the data room into the adjusted EBITDA schedule, the comparables and the exhibit, and see whether a second reviewer can do the same.