2. Operational Due Diligence (ODD): Testing the Value Thesis
Identifying one-time expenses, owner-related costs, or non-recurring income to find the true underlying profitability. Private Equity Company Due Diligence
The Private Equity Playbook: Mastering Company Due Diligence top 10 customers)
Analyzing customer concentration (e.g., top 10 customers), churn rates, and whether revenue is recurring or one-time. Private Equity Company Due Diligence