Private Equity, VC & Family Offices
Independent Audit & Financial Due Diligence for Private Capital.
Deliver uncompromising Quality of Earnings (QoE) analyses, substantiate net debt bridges, and safeguard portfolio value creation.
Audit-AAM supports Private Equity, Venture Capital, and Family Offices through rigorous Financial Due Diligence (Buy-Side / VDD), Quality of Earnings, tech asset valuations, and statutory contribution audits. Our partners deliver actionable executive findings within 10 to 15 business days to support your investment committees.
Partner Leadership
Direct Partner Involvement on Every Transaction.
Zero boilerplate reports without conviction. Our signing partners engage directly on deal criticalities to illuminate your Investment Committee decisions.
Sylvain Raynal
Partner — Transaction Services & Private Equity
Transaction Services Jurisdictions:
- ▪ Buy-side Financial Due Diligence and Vendor Due Diligence (VDD) across tech & mid-market
- ▪ Quality of Earnings (QoE) analytics and normalized EBITDA reconciliations
- ▪ Working Capital Peg definition and adjusted Net Debt scope modeling
- ▪ Contractual price adjustment mechanisms safeguarding (Locked Box vs. Closing Accounts)
Jean-Paul Lacombe
Managing Partner — Certified Public Accountant & Statutory Auditor
Transaction Services Jurisdictions:
- ▪ Statutory contribution and merger audits during LBO and build-up transactions
- ▪ Independent fairness opinions and complex intangible asset valuations
- ▪ Contractual audit of holding structures and management equity incentive plans
- ▪ Certified regulatory reporting for investment committees and LP advisory boards
Florian Lacombe
Partner — Legal Audit & Forensic Financial Investigation
Transaction Services Jurisdictions:
- ▪ Pre-acquisition forensic audits, fraud risk detection, and hidden liability tracing
- ▪ Financial reporting system compliance reviews and data integrity assurance
- ▪ Mandatory 2026 electronic invoicing readiness and CSRD/VSME ESG compliance
- ▪ Post-acquisition reviews (100-day reviews) and management control enhancement
Methodological Demonstration
Rigor in Quality of Earnings (QoE).
Test our interactive financial waterfall simulator to visualize how each normalization item impacts Free Cash Flow generation and net acquisition price.
Quality of Earnings: From Reported EBITDA to Actual Cash
Legal Impact on SPA & Price Adjustment Clauses
QoE adjustments allow legal counsel to substantiate net debt clauses, define a normalized Working Capital Peg, and safeguard Representations & Warranties.
Investor Track Record & Deal Studies
3 Recent ReferencesBuy-Side Due Diligence on an Industrial Target (€28M EV)
Mid-Cap Private Equity Fund (Paris)
Family-owned target showing an EBITDA of €3.8M with volatile inventory fluctuations and entangled founder expenses.
Complete Quality of Earnings (QoE) normalization over 36 months and identification of €1.2M in capex under-investment.
Negotiated a €1.6M purchase price reduction at closing and secured senior debt leverage ratios for the Investment Committee.
Financial VDD Accelerating a Competitive Auction Process
PE portfolio exit in B2B Services
Prepare the sale to an international panel of strategic and financial buyers demanding total transparency on cash conversion.
Produced a comprehensive VDD report, audited gross margin cohorts, and substantiated normalized working capital.
Flawless 6-week auction process, preserved an 11x EBITDA valuation multiple, and granted full buyer reliance.
Technological Asset Valuation & Portfolio Review
Deep Tech Venture Fund (Paris-Saclay)
Contradictory appraisal of proprietary software platforms and patent portfolios prior to a major syndicated reinvestment round.
Discounted Cash Flow (DCF) modeling and peer comparable transaction benchmarking with a formal valuation certificate.
Valuation formally adopted by the fund's valuation committee, unlocking successful syndicated follow-on funding.
M&A Assessment Tool
Due Diligence Readiness Calculator
Instantly gauge the financial deal readiness of your client or target to preempt friction points during SPA negotiations.
Closing Slippage Risks Identified
Key components (QoE, working capital, off-balance sheet items) require upstream audit scoping to prevent aggressive post-offer price re-negotiations.
Evaluating an active investment opportunity or build-up?
Our partners are available within 24 hours for a confidential preliminary Data Room review and a tailored Due Diligence proposal.