The Clarity Behind Every Confident Deal

We deliver institutional-grade Quality of Earnings (QoE) and financial due diligence — helping you understand what the numbers really say, whether you’re acquiring a business, preparing to sell, or lending against one. Our diligence helps uncover risk before it becomes your problem, and helps protect enterprise value before it gets negotiated away.

Schedule a Confidential Discovery Call

Nivara Stakeholder Framework

A financial due diligence engagement means something different depending on which side of the table you sit on. The Nivara Stakeholder Framework tailors our diligence approach to the distinct realities of Acquirers, Sellers, and Lenders.

Nivara Stakeholder Framework: each stakeholder’s mindset and how Nivara supports them
StakeholderStrategic MindsetExecutive Mandate
Acquirers & Institutional Investors (Buy-Side)
  • “Before we deploy capital, we need certainty that the target’s earnings are real, recurring, and not artificially inflated by one-time adjustments.”
  • “We can’t rely on management’s own adjusted EBITDA — we need an independent party to stress-test every addback.”
  • “Hidden liabilities, aggressive revenue recognition, or customer concentration risk could quietly destroy the investment thesis after we close.”
  • Normalise EBITDA and test true, recurring earnings to help anchor the investment thesis.
  • Objectively stress-test management’s addbacks and adjustments before they’re built into the purchase price.
  • Help identify cash leakage, concentration risk, and off-balance-sheet liabilities before the deal closes.
Founders, Owners & Shareholders (Sell-Side)
  • “I know a buyer’s diligence team will look for any excuse to re-trade our valuation — I need to control that narrative before they do.”
  • “I can’t afford for a buyer to discover an issue we didn’t already know about and disclose on our own terms.”
  • “I need our numbers audit-proofed so a lengthy buyer diligence process doesn’t stall or kill the deal.”
  • Conduct proactive vendor due diligence to help identify and address issues before buyer diligence begins.
  • Normalise historical EBITDA and anticipate likely buyer adjustments to help defend the asking valuation.
  • Prepare a clean, well-organised data room and reporting package to help accelerate the process and reduce re-trading risk.
Lenders & Financing Providers
  • “Before extending credit, we need independent verification that the borrower’s cash flow can actually service the proposed debt load.”
  • “We need to understand the quality and sustainability of earnings, not just the headline numbers presented.”
  • “Our risk committee requires objective, third-party financial validation before capital is committed.”
  • Assess debt-servicing capacity through cash flow and earnings quality analysis.
  • Assess the sustainability and quality of reported earnings to inform credit risk decisions.
  • Deliver objective, well-supported financial analysis to inform credit committee review.

Financial Due Diligence Solution Framework

Financial due diligence isn’t a single check — it’s a structured process of testing, normalisation, and risk identification. Here’s how we execute it, step by step.

  1. Scoping & Diligence Planning

    Every diligence engagement starts with knowing where to look.

    We scope the diligence approach around the specific deal, industry, and risk profile — before a single number is tested.

    • Diligence Scope & Materiality Threshold Setting
    • Data Request List (DRL) Development
    • Management Interview Planning
    • Industry & Sector Risk Contextualisation

  2. Quality of Earnings & EBITDA Normalisation

    The number everyone negotiates around, tested.

    We rebuild EBITDA from the ground up — testing every adjustment and addback against supporting evidence.

    • EBITDA Normalisation & Addback Review
    • Non-Recurring & One-Time Item Analysis
    • Revenue Recognition & Quality of Revenue Testing
    • Margin & Trend Analysis

  3. Working Capital & Net Debt Analysis

    Where deal value quietly moves.

    We analyse working capital trends and net debt-like items that directly impact purchase price mechanics.

    • Working Capital Trend & Peg Analysis
    • Net Debt & Debt-Like Item Identification
    • Cash Flow Conversion Analysis
    • Off-Balance-Sheet Obligation Review

  4. Risk Identification & Red-Flag Reporting

    Finding what the headline numbers don’t show.

    We help surface concentration risk, related-party exposure, and operational red flags before they become post-close disputes.

    • Customer & Vendor Concentration Analysis
    • Related-Party Transaction Review
    • Contingent Liability & Financial Exposure Screening
    • Findings Summary & Risk Ranking

  5. Negotiation & Purchase Price Support

    Turning findings into leverage.

    We translate diligence findings into quantified purchase price adjustments and supporting analysis for your negotiation team.

    • Purchase Price Adjustment Quantification
    • Diligence Findings Presentation & Negotiation Support
    • Post-Diligence Q&A Support
    • Final Reporting & Executive Summary Delivery

Ready to see what the numbers really say?

Schedule a confidential discovery call to discuss your transaction — whether you’re acquiring, preparing to sell, or lending against a business — and what diligence would help you understand before you commit.

Schedule a Confidential Discovery Call