Quality of Earnings · Accounting Leadership · Assurance Support

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Quality of Earnings

Quality of earnings that tells you what you’re buying.

For searchers and small business buyers using SBA financing, for independent sponsors and family offices, and for private credit and middle market private equity. More than 100 engagements a year. The scope changes with the size and complexity of the deal. The standard of work doesn’t.

Hollywell Partners is now part of Numera. Your Hollywell partners are still your partners—same senior team, bigger bench.

Why Numera

The experience of a large firm. The focus of a specialist.

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01

Deep transaction experience

We run diligence for searchers buying their first business with an SBA loan and for private equity buying their fifteenth add-on. Decades of combined experience across both.

02

Senior attention, always

Your deal gets experienced eyes from the first call. No juniors handed the work while partners take the credit.

03

Fast, actionable outputs

Timely reports that support negotiations, lender discussions, and internal decisions—not padded to justify the invoice.

04

One team after close

Diligence is usually the first engagement, not the last. The same connected team continues into fractional CFO work, already knowing the business from the inside.

Track record

Proof in the work.

Quality of earnings engagements a year100+
PE & VC fund relationships110+
Years of partner experience60+
Engagements led by senior leaders100%

Who does the work

The experts on your deal.

The partners who scope the engagement are the ones who run it. You will speak to them on the first call and on the findings call.

Adam Webster

Adam Webster

Due Diligence Practice Leader and Partner, Numera Advisory

15 years at PwC in Transaction Services and Assurance. CPA, State of Florida.

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Mike Jerman

Mike Jerman

Senior Partner and Advisory Leader, Numera Advisory

Over 19 years in accounting advisory leadership. Former PwC Director in the US and UK. CFO to private-equity-backed companies.

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Carrie Reoh

Carrie Reoh

Partner, Numera Advisory

15 years building accounting functions for growing companies. Former controller at Eagle LNG and CAM Integrated Solutions. CPA, State of Texas.

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How we scope

Scope changes with the deal. The standard doesn’t.

A $2 million SBA deal and a $200 million platform get different numbers of procedures, because one business has fewer moving parts than the other. They do not get different levels of scrutiny.

You will see “QofE lite” offered across the market, and it usually means a thinner review at a lower price. That is not what it means here. We scope to the size and complexity of the deal in front of us, and on smaller deals we are still doing considerably more work than the firms quoting against us. There is no lite diligence.

  1. 01 Scope & alignment We define the right depth based on deal stage, size, and stakeholder needs, before any work starts.
  2. 02 Financial diligence Quality of earnings analysis, working capital review, cash proof, debt-like items.
  3. 03 Key findings review A walkthrough of the material risks with the people who found them, in time to act on them.
  4. 04 Summary reporting Clean, consumable outputs aligned to buyer and lender needs or the next diligence phase—not padded to justify the invoice.

What’s covered

What’s covered.

The work that is core to every engagement, and what happens once the deal closes.

01

Financial diligence

Core to every engagement

  • Historical earnings and pro forma adjustments
  • Full revenue cash-proof procedures
  • Multi-year income statement and balance-sheet quality and trend analysis
  • Working capital trends and requirements
  • Debt and debt-like items, including off-balance-sheet exposures
02

After the deal closes

For buyers who need the numbers run, not just checked

  • Bookkeeping and monthly close
  • Controller support
  • Fractional CFO leadership
  • What diligence learned, handed to the team that runs the books

More than diligence

A finding shouldn’t sit in a silo. Numera Advisory works alongside the broader Numera network—so when a deal needs technical accounting across international standards, a cross-border structuring view, or a controller to hold things together after close, the people who do that work are already in the building.

Every engagement is scoped to the deal, not to the billable hour.

“The market demands sophistication and speed. We deliver both—Big 4 rigor and technical depth, at the pace modern deals require.” Adam Webster — Due Diligence Practice Leader, Numera Advisory

Ready when timing matters

Diligence that moves at deal speed.

Tell us the deal size, the timeline, and what’s keeping you up at night. We’ll tell you what scope makes sense and how fast we can move.

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