Aletheia Insight

Financial due diligence · Portfolio reporting

Understand a situation in depth.Decide with no blind spots.

Aletheia Insight supports investors, acquirers and their portfolio companies, from deal to post-deal. A transaction services practice, backed by agentic tools we build ourselves.

Discuss a dealOur services

  • 100+

    transactions completed by the partners

  • 2 services

    one common foundation, from deal to post-deal

Transaction services expertise, better tooled

We run our due diligence the way we were trained to: management interviews, a critical read of the data room, every test performed one by one. What changes is everything that comes before the analysis. Data collection, formatting, reconciliations and consistency checks are handled by agents we designed and supervise. The time saved goes where it matters: judgement.

Two services, one foundation

The adjustment rules written during due diligence become the foundation of the portfolio company's reporting. From deal to post-deal, nothing is redone.

01 · Before the deal

Due diligence & modelling

Securing the acquisition at every stage of the transaction.

On small and mid-cap deals, due diligence budgets often lead to a narrower scope. We keep the full scope: it is production that costs less, not analysis.

  • Buy-side financial due diligence: quality of earnings and normalised EBITDA, net debt and debt-like items, normalised working capital and seasonality.
  • Business plan review: consistency of assumptions with historical performance, sensitivity analysis.
  • Bespoke modelling: business plan, normalised working capital, locked-box pricing mechanisms.

What you gain

  • A well-supported view within the deal timetable, to reach a go/no-go decision quickly.
  • Documented, quantified adjustments, ready for price negotiation.
  • An adjusted database, reusable after closing.

Terms

Deliverable
Red flag or full report
Fees
Fixed fee, based on the scope agreed at kick-off

02 · After the deal

Portfolio reporting & CFO support

Reliable figures, on time, comparable from one portfolio company to the next.

What we see almost everywhere: Excel plays three roles at once, database, calculation engine and presentation layer, with business rules buried in formulas. Every close is a race against the clock.

  • Reporting design: a single data model, with documented and versioned business rules.
  • Automated production and controls.
  • Hands-on support for the finance teams of portfolio companies.

What you gain

  • Figures available at any time, not only at quarter-end.
  • One format across portfolio companies, comparable line by line.
  • Traced and reviewed information that stands up to third parties, at a fundraise or a board meeting.

Terms

Phase 1
Fixed fee: a short study run alongside your processes. It delivers the documented reclassification rules and a costed implementation plan.
Phase 2
Milestone-based: implementation, with a go/no-go decision at each step.

You can stop after phase 1: its deliverables remain fully usable.

Build-ups: from due diligence to reporting, without a break

When acquisitions follow one another, disparate charts of accounts and information systems slow down the consolidated view and weaken the validation of the business plan.

Diagram: three targets with different accounting systems go through a single rulebook and feed consolidated reporting in one common format.

Integrate fast

Each target's accounting history is normalised in minutes per financial year.

Document from day one

Reclassification rules are written and dated during due diligence, target by target.

Reuse after closing

The data model and rules built during due diligence become the direct foundation of the portfolio company's reporting.

Agents that serve the analysis, not replace it

There is nothing magical about an agent: it performs a specific task well, provided it is properly configured and controlled. We only build one once the manual process is stable, and we keep control of everything that calls for judgement.

DD agent · Project Atlas · FEC 2022–2024

Illustrative example

  1. General ledger import (FEC)

    3 financial years · 142,318 entries · debit/credit balance checked

  2. Account mapping

    96% of accounts mapped · 11 flagged for review

  3. Adjustments

    14 rules applied (rulebook v2.4) · normalised EBITDA computed

  4. Consistency checks

    balance sheet balances · 3 variances documented, sources linked

  5. Human checkpoint

    decision on material adjustments · awaiting a partner

Illustrative example, fictitious case.

  • Written rules

    Every adjustment is formalised, dated and versioned. The same rule produces the same result from one deal to the next.

  • A full audit trail

    Every figure in the report links back to its source: accounting entry, contract or data room document.

  • Human checkpoints

    Mapping validation, decisions on material adjustments, management interviews, conclusions for the buyer, review before release: these steps stay with the partners.

  • Technology independence

    Our tools do not depend on any single AI provider. We choose the right engine for each task and keep its cost under control.

Who we work with

Investment funds

Small and mid-cap private equity and venture capital: a full-scope due diligence, with a budget in proportion to the deal and no cuts to scope.

Acquisitive groups

M&A and corporate development teams: a method that repeats from one target to the next, and reporting ready from integration.

Acquirers and managers

MBO, acquisition or fundraise: a business plan and working capital analysis that stand up to investors and lenders.

Portfolio company finance teams

Reliable reporting, delivered on time, and extra hands when the workload demands it.

Let's talk about your next deal

A transaction in preparation, reporting to make reliable, a need for extra hands: tell us about the situation and we will get back to you within two business days.

Or directly: contact@aletheia-insight.com · 58 rue de Monceau, 75008 Paris, France

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