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Numera

Quality of Earnings

Revealing the true financial story behind the numbers.


We go beyond the numbers to uncover hidden risks, validate earnings, and give your deal team the clarity to move decisively — whether you’re buying, selling, or raising capital.

The diligence practice of Hollywell Partners, now inside Numera.

Talk to a diligence expert What’s covered
  • $500M+Largest transaction supported
  • 110+PE & VC fund relationships
  • 60+Years of partner experience
  • 95%Senior Manager+–led engagements

The two offerings

Two offerings. One standard of rigour.

Whether you’re closing a sub-$20M asset deal or running diligence on a $200M revenue target, the same partners and the same standards apply — calibrated to the complexity of the transaction.

Scope planningStakeholder alignment, diligence calendar, and an internal walkthrough to define scope and deliverables.
Core financial diligenceQoE analysis, working-capital review, cost-out identification, and team-structure assessment.
Robust analysisValuation modeling, benchmarks, risk insights. Optional: SWOT, operational bottlenecks, market deep-dives.
Data room & transaction readinessCoordination with legal and tax, data-room prep, and diligence reports buyers and lenders can act on.
Scope & alignmentWe define the right depth based on deal stage, size, and stakeholder needs — before any work starts.
Lean executionFocused financial review, cost-out signals, and working-capital flags structured to move as fast as the deal requires.
Key findings reviewSummary of material risks, with optional add-ons: market scan, ops review, competitive context.
Summary reportingClean, consumable outputs aligned to buyer needs or the next diligence phase — not padded to justify the invoice.

Scope scales with the deal.

From core financial diligence to post-close integration support — the right depth for the deal in front of you.

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
  • Liabilities and potential off-balance-sheet exposures

Ops & value creation

Layered on for larger or more complex transactions

  • Valuation estimate and key assumptions
  • SWOT by business function, quantified
  • Operational bottleneck analysis
  • Customer and relationship portfolio scoring
  • Cost-out identification
  • Systems, process, and human-capital alignment with growth

Support & post-transaction

Deal-specific modules and after-close continuity

  • Regular updates to senior executives and key personnel
  • M&A data-room preparation
  • Post-transaction integration and value-capture support
  • Program design, management, monitoring, and reporting
  • Gap staffing and short-term executive support

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 rigour and technical depth, at the pace modern deals require.”

Adam Webster — Partner, Numera Advisory

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

Senior-led from the first call. Every engagement gets experienced eyes, not junior staff handed the work while partners take the credit.

01

Deep transaction experience

Decades of combined experience across deals from $10M to $500M+. We’ve seen the patterns others miss.

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

More than a report

Program management and post-close integration support, for when the deal needs more than a deliverable.

Trusted by operators. Proven on deals.

In the field

Oil & gas · Quality of Earnings

A $100M+ acquisition called off

A midstream company wanted a second opinion on a deal the first firm had already cleared. We found undisclosed material legal contingencies the target had no plans to surface before close. Our client walked away.

 Mining technology · Fractional CFO

Funded before the Big 4 started

A tech company needed a pro forma forecast and valuation to close its next funding round. A Big 4 firm quoted five times our price and three weeks to mobilize. We had a final deliverable by the following Friday. Funding closed the day the Big 4 was set to begin.

 Reservoir services · Post-transaction

From roll-up to NASDAQ IPO

A PE client combined three companies — a consulting firm, an oilfield manufacturer, and a rental/services firm — into a single entity with a deal value over $300M. We built the operating model, governance structure, and capital management framework. The combined company IPO’d on NASDAQ at over $1B.

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.

Talk to a diligence expert
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