U.S. transaction advisory services
Figures helps family offices, investor teams, and business buyers examine the earnings, cash flow, and obligations behind an acquisition.
Buy-side and sell-side diligence, quality of earnings reports, acquisition and lender models, and transaction tax work are scoped around your deal.
Tell us your role and transaction stage. We will agree which analyses and deliverables the engagement needs.
For a family office or acquisition team, the income statement is only the start. The decision also depends on the quality of earnings, the cash the business needs, and the assumptions in the buyer's model.
Figures tests the financial records behind the proposed transaction, explains supported adjustments, and identifies questions the available evidence cannot yet answer.
Where the engagement calls for it, we connect those findings to a buy-side or lender-facing model. The diligence and the model have different jobs: one tests the information, while the other shows how assumptions affect a proposed investment or financing case.
A transaction can need more than one type of analysis. We agree which workstreams, reporting periods, and deliverables matter before we begin.
Examine earnings, margins, cash conversion, working capital, debt and debt-like obligations. We document what the available records support and where additional investigation is needed.
Assess recurring earnings, nonrecurring items, and proposed add-backs. A formal report explains the bridge from reported results to normalized earnings and the limits of the analysis.
Build a model around the transaction's agreed assumptions and scenarios. A buyer can use it to examine price, cash needs, and financing questions alongside the diligence findings.
Review historical tax positions and potential exposures relevant to the transaction. The taxes and jurisdictions examined depend on the target and the agreed scope.
The questions change with your place in the deal. We scope the analysis to the decisions you need to make, not a standard report sold to every team.
Test the earnings behind a direct investment and connect the findings to purchase price, cash needs, and the investment case.
Examine a target before you commit. Use financial diligence, a QoE report, and a buyer or lender model where the transaction requires them.
Prepare a supported view of earnings, identify questions a buyer will ask, and organize the financial evidence behind the proposed transaction.
These workstreams can sit in one engagement, but a report is not a financial model and a model is not a diligence opinion. The proposal defines which analyses and deliverables are included.
Scroll sideways to compare every workstream.
| Work | Financial diligence | Quality of earnings | Buyer and lender models | Tax diligence |
|---|---|---|---|---|
| Main question | What do the target's records reveal about performance and financial risk? | How much of reported earnings is supportable and recurring? | How do agreed assumptions affect the buyer's or lender's financial case? | Which historical tax positions may affect the deal? |
| Possible output | Financial findings and schedules | Formal QoE report and earnings bridge | Buy-side or lender-facing model with stated assumptions | Tax findings and exposure summary |
| Decision it informs | Price, working capital, and follow-up diligence | The earnings basis used in price discussions | Purchase and financing scenarios | Tax risk discussions with the deal team |
Outputs depend on the agreed engagement. A lender-facing model or QoE report does not guarantee lender acceptance or financing.
Tell us your role, transaction stage, target, and intended recipients. We define reporting periods, records, workstreams, model assumptions, and deliverables before the analysis begins.
We examine the financial and tax information within scope, assess adjustments, and work through the model assumptions. Open questions remain visible where records do not support a conclusion.
We walk your team through the agreed reports and models, their assumptions and limitations, and the questions that still matter for the transaction.
Figures examines the financial information relevant to a proposed acquisition or sale, including earnings, cash flow, working capital, debt and debt-like items, and financial risks. Reporting periods, procedures, and deliverables are agreed for each engagement.
Yes. A quality of earnings report assesses the sustainability of reported earnings and the support for proposed adjustments. Depending on scope, it can include a bridge to normalized EBITDA, revenue and margin analysis, and working capital observations. QoE can be part of a broader financial due diligence engagement.
Yes. Figures can prepare buy-side financial models and lender-facing models as part of a scoped transaction engagement. We agree the assumptions, scenarios, reporting periods, and intended use before work begins. A model does not guarantee financing or acceptance by a particular lender.
Figures works with acquisition buyers, including family offices and investor teams, as well as sellers preparing for a transaction. The deal's size, stage, and decision needs determine the scope, rather than a fixed package for every buyer.
No. A QoE report is transaction-focused analysis, not an audit opinion, assurance engagement, or a valuation. It can inform price discussions, but it does not establish the value of a business or guarantee future results.
The review examines tax positions and potential historical exposures relevant to the deal. Depending on the entity and jurisdictions, it can cover federal and state income tax, sales and use tax, payroll tax, elections, and open matters. It does not replace legal advice on a purchase agreement.
Common starting records include monthly financial statements, general ledger detail, tax returns, bank statements, debt schedules, and support for proposed earnings adjustments. The final request depends on the workstreams. Please use the inquiry form for initial contact, not for confidential financial records.
Acceptance depends on the intended recipient's criteria, including the work's scope, provider requirements, and permitted reliance. Confirm those requirements before commissioning the work. Figures does not claim approval by any particular lender or guarantee a financing outcome.
Timing and fees depend on the workstreams, number of entities, reporting periods, transaction complexity, and quality of the records. We discuss the scope before agreeing an engagement.
Tell us whether you are buying or selling, where you are in the process, and what financial questions you need answered. We will discuss the right diligence and modelling scope. Please do not include confidential financial records.