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Quality of Earnings & Financial Due Diligence

Diligence you can build on.

Institutional-grade Quality of Earnings and financial due diligence, built to stay comprehensive without the runaway hours or the blind spots of a sampled review. For independent sponsors, searchers, private equity, and business owners.

1 wk
QofE Lite turnaround
100%
of transactions reviewed
Buy & Sell
Both sides of the deal

A deal is only as sound as the numbers beneath it. We dig past the income statement to the cash, the trends, and the risks, so you negotiate, lend, or sell from a position of certainty.

Our Advantage

The depth of a Big-Four review. Without the Big-Four hours.

Most diligence still works by sampling: a team reviews a slice of the data and extrapolates the rest. We review all of it. Experienced analysts, paired with AI that reads the entire ledger and every dollar that moved through the bank, so the work stays comprehensive without turning slow, and the findings follow the data rather than whoever happens to be reviewing it at the end of a long day.

Thorough

Every transaction in the ledger and every line through the bank gets read. Nothing important hides in the slice a sample skipped.

Faster

A focused review can land in about a week. When you are racing an exclusivity clock or weighing a live offer, that speed is the edge.

Objective

The full population gets reviewed the same way every time. No sampling, no fatigue, no anchoring on the number the financials were dressed up to show.

Fast & Lean

QofE Lite

A comprehensive read, delivered in about a week, for buyers or sellers. Reviewed by our team and right-sized for smaller deals or an early look before you commit.

  • About a one-week turnaround
  • Built for smaller deals or an early look
  • Comprehensive, not a spot-check
  • Reviewed by our senior team
Full Depth

Full QofE

Institutional-grade diligence with senior judgment on every finding and nothing left to a sample. The depth of a Big-Four engagement, without the Big-Four hours.

  • Every transaction examined, never sampled
  • Adjusted EBITDA, working capital, proof of cash
  • Senior judgment on every finding
  • Comprehensive, with senior judgment throughout
What We Do

Diligence, scoped to the deal in front of you

Focused, senior-led engagements that give you the financial clarity to move with confidence, whether you’re buying, lending, or selling.

01

Quality of Earnings

The cornerstone analysis: we normalize EBITDA, test revenue quality, and validate that reported earnings are real, recurring, and sustainable post-close.

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02

Financial Due Diligence

A complete read on financial health, balance-sheet review, debt and debt-like items, working capital trends, and the operational drivers behind the numbers.

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03

Sell-Side QofE & Valuation Support

Selling your company? We surface and resolve issues before buyers do, build a defensible earnings story, and help you understand what your business is truly worth.

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04

Net Working Capital Analysis

We set a fair, data-driven working capital target so you don’t overpay at close or get squeezed in the true-up, one of the most contested numbers in any deal.

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05

Proof of Cash

We tie reported revenue and earnings to actual cash that moved through the bank, the most reliable test of whether the financials reflect economic reality.

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06

Buyer’s Reports & Quick Reviews

Earlier in a process, or working a smaller deal? Right-sized assessments flag the deal-breakers fast, before you spend more time and capital.

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Who We Serve

Built for the people with capital on the line

We work the lower middle market the way it deserves to be worked, with senior attention, genuine independence, and an understanding of what’s actually at stake for you.

Buy-Side

Independent Sponsors

Win investor confidence and close with conviction. We give you LP-ready diligence that stands up to scrutiny.

Buy-Side

Searchers & ETA

It’s often your own capital and one shot. We pressure-test the numbers so your first acquisition is the right one.

Buy-Side

Private Equity

A reliable diligence partner for add-ons and platforms, institutional rigor, responsive teams, and no surprises.

Sell-Side

Business Owners

Know what your company is worth and sell from strength. We prepare your earnings story before buyers test it.

Why Greenwood

Big-Four rigor. Boutique attention. Genuine independence.

The largest firms are thorough but expensive, layered, and slow. The cheapest options miss what matters. Greenwood was built for the deals in between, where the diligence has to be sharp, the partner has to be reachable, and the attention has to fit the deal. It’s the kind of partner we’d want on our own deals.

Senior people on your deal

The person who scopes your engagement is the person doing the work, not a rotating cast of first-year associates.

Speed that fits a live process

Most reports land in two to four weeks of data access, fast enough to keep your exclusivity window and momentum intact.

Independent and conflict-free

We are not your broker, your lender, or your counsel. Our only job is to tell you what the numbers really say.

We treat every engagement as if our own capital were on the line, because for the people we serve, it usually is.

The Greenwood Diligence Standard

$1M–$75M
Transaction range served
2–4 wks
From data access to final report
Buy & Sell
Diligence for both sides
Independent
Unbiased, third-party work
Our Approach

A clear path from data room to decision

A proven process that keeps your deal moving while we get to the truth beneath the numbers.

1

Scope & Plan

A short call to understand the target and your goals, with a clear scope and timeline before any work begins.

2

Data & Discovery

We send a focused request list and analyze the financials, ledgers, and bank activity, reconciling what’s reported to what’s real.

3

Analysis & Findings

EBITDA normalization, working capital, proof of cash, and revenue quality, with management Q&A to resolve open items.

4

Report & Debrief

A clear, defensible report and a live walkthrough, so you can negotiate, lend, or sell with total confidence.

Insights

Diligence, explained

What a Quality of Earnings is, what’s inside one, and where the work is heading. Written for buyers, sellers, and operators.

Let’s talk

Confidence in your next deal starts with a conversation

Tell us about the transaction. We’ll tell you exactly how we can help and how fast we can deliver.