For buyers
The seller's P&L says one thing. What did the business actually earn?
You have a target, a broker's CIM, and sixty days to decide. The numbers you're shown were built to sell. Boardroom reads them the way they'll be read at close: what's real, what's adjusted, and what's missing.
Sound familiar?
- The add-back schedule is longer than the P&L. Every one "normalizes" the earnings up.
- Revenue is growing but you can't tell if it's price, volume, or one customer who might leave with the seller.
- The books are cash-basis, the CIM is accrual, and nobody will say which numbers the multiple is on.
- Everyone on the deal has an opinion about the numbers. Nobody owns them.
- You know how to run the business. You want someone who's torn apart a hundred sets of books to tell you what's in this one.
If two of those are you, keep reading.
Your numbers person, for the whole deal
From first CIM to close, every version of the model is one person's job: Boardroom's.
The model, managed.
The seller's numbers rebuilt into a model you actually trust, updated every time the story changes: new financials, a revised price, a different structure. You always know what the business earns and what it supports at your terms, as of today, not as of the CIM.
The risks, sized.
Concentration, seller dependence, revenue that leaves with the seller. What each one does to the number, so you negotiate with reasons instead of feelings.
The right amount of diligence.
Not every deal needs the full process, and no deal should get less than it needs. Boardroom tells you which one you're in, and stands up the right people when you need them.
A number you can defend.
To the seller, to your lender, to your investors, and to yourself.
How it runs
You send what you have. From there the model stays current through the deal, at deal speed. Scoped to the deal on a call.
After you close
You own a business now, with the same questions every owner here has. That's the other half of what Boardroom does.
For owners →Fixed fee, agreed upfront. No success fees, no percentage of the deal, ever.