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Due Diligence Case Studies

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Commercial Due Diligence Case Study

Client: Growth Equity Firm

Target: Vertical SaaS company serving healthcare providers

Deal Type: Platform acquisition

Timeline: 3-week diligence window

 

🔹 The Challenge

The firm needed to understand the sustainability of top-line growth and market defensibility of a high-performing SaaS business with limited customer churn data and aggressive revenue projections.

 

🔹 Our Role

Creston led a focused commercial diligence effort, including customer interviews, churn cohort analysis, competitive benchmarking, and GTM model review.

 

🔹 The Outcome

  • Identified revenue concentration risk in two enterprise accounts
  • Flagged weak upsell motion masked by high net retention
  • Validated expansion opportunities into adjacent verticals
  • Supported deal thesis with actionable GTM acceleration plan

Operational Due Diligence Case Study

Client: Strategic Corporate Acquirer

Target: Logistics and fulfillment provider

Deal Type: Capability acquisition

Scope: Warehouse operations, procurement, and service SLAs

 

🔹 The Challenge

The acquirer needed to evaluate scalability of the target’s operations to support a planned multi-state expansion within 18 months.

 

🔹 Our Role

Creston conducted a full operating model assessment — analyzing facility throughput, headcount leverage, vendor management, and technology dependencies.

 

🔹 The Outcome

  • Flagged facility-level throughput bottlenecks and labor cost inefficiencies
  • Identified underutilized automation technology with expansion potential
  • Highlighted lack of standardized vendor SLAs and contract exposure
  • Informed a post-close margin improvement roadmap

IT Due Diligence Case Study

Client: Private Equity Firm

Target: Carve-out of a data analytics business from a public company

Deal Type: Buyout with TSA dependencies

Focus: Infrastructure, data architecture, and TSA exit risk

 

🔹 The Challenge

The carve-out involved legacy systems, unclear application ownership, and significant TSA reliance for core services.

 

🔹 Our Role

Creston assessed infrastructure risk, identified entangled systems, and created a staged IT separation plan, including cloud migration roadmap and Day 1 readiness plan.

 

🔹 The Outcome

  • Mapped 27 mission-critical systems with 12 requiring separation
  • Developed 3-phase TSA exit strategy with IT stand-up milestones
  • Identified cybersecurity gaps and prioritized remediation
  • Reduced TSA term from 12 months to 6 through pre-close planning

HR Due Diligence Case Study

Client: Corporate Acquirer

Target: Multi-location business services provider

Deal Type: Add-on acquisition

Scope: Org structure, compensation, retention, and culture

 

🔹 The Challenge

The target had grown quickly via acquisition, with inconsistent HR policies, compensation bands, and employee communication practices.

 

🔹 Our Role

Creston assessed workforce data, retention risk, span of control, and compensation alignment. We also conducted stakeholder interviews to understand cultural integration risk.

 

🔹 The Outcome

  • Flagged 19 key roles with flight risk indicators
  • Recommended executive retention program to support integration
  • Uncovered pay disparities that could affect morale post-close
  • Advised on unified culture narrative and change management roadmap