Entry · Hold
Revenue quality is what determines whether a revenue number will hold after acquisition. How to assess it, what standard diligence misses, and what customer behaviour data reveals. By Natalie McCrae, Keystone IQ.
Read article →The thinking behind the Diagnostic
Four areas where customer behaviour evidence changes how PE deals are priced, managed, and exited.
The articles in this section are built from twenty years of work inside the customer bases of listed consumer, subscription, streaming, loyalty, financial services and retail businesses. Each article is a pillar piece — long-form, evidence-anchored, and written for the operating partner, the deal team partner, and the sponsor preparing an exit.
Entry · Hold · Exit
How customer behaviour evidence turns goodwill from an accounting residual into a defensible asset. Evidencing customer-driven goodwill at entry, PPA, hold and exit. Keystone IQ.
Read article →Hold · Exit
Cambridge Associates data shows average buyout MOIC at 1.7x, top-quartile at 2.3x. The gap is primarily a revenue growth gap. Here is how customer base improvement closes it. By Natalie McCrae, Keystone IQ.
Read article →Exit
How to build the customer evidence layer before the bankers arrive. The buyer’s DD team will ask. Here is how to have it ready four to six months before you go to market. By Natalie McCrae, Keystone IQ.
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