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FirmLedge · SMB + LMM Transaction Support

Deal, diligence, and value-creation support for SMB and lower-middle-market transactions.

FirmLedge delivers investor-grade financial analysis and decision-ready models for searchers, independent sponsors, business buyers, owners, intermediaries, and lower-middle-market investors — as fixed-fee or hourly transaction support. Senior-associate-level analytical capacity on your deal, without adding headcount.

  • Searchers & Independent Sponsors
  • Business Buyers & Operators
  • Business Owners
  • M&A Advisors & Brokers
  • Boutique PE / Family Offices

Built by a former private equity senior associate and investment banking analyst · 7 closed transactions · closed-transaction experience up to ~$250MM.

00 · Track Record


A practitioner record, not a pitch.

7 Closed transactions, buy-side and sell-side
~$250MM Closed-transaction experience by deal size
200+ Platform & add-on opportunities screened / evaluated
20+ LOIs supported through diligence
PE + IB Prior PE Senior Associate and former IB analyst

01 · Who We Help


Built for the people doing the deal.

FirmLedge plugs in as on-demand analytical capacity for the operators, investors, and advisors who need investor-grade work without standing up a full deal team.

Searchers & Independent Sponsors

Senior-associate-level modeling and diligence so you can move on a deal without carrying full-time analyst overhead.

Business Buyers & Operators

Pressure-test the numbers before you sign, so you buy on a model you actually trust.

Business Owners & Operators

Organize financials, KPIs, and operating data into cleaner analysis for buyers, lenders, advisors, or internal decisions.

M&A Advisors & Brokers

Add analytical bandwidth to client engagements without expanding your bench.

CPA Firms & Fractional CFOs

Overflow, deal-specific analytical support when client transactions exceed your in-house capacity.

LMM Investors, Boutique PE & Family Offices

Outsourced deal-team analytics for direct deals, add-ons, and portfolio work.

02 · What We Do


Decision-ready models and diligence support.

Six lines of investor-grade analytical support, scoped to your deal and priced fixed-fee or hourly. We build the analysis; you keep the decision.

Acquisition Model & Returns Support

LBO builds and rebuilds that hold up under scrutiny.

  • Sources & uses, debt schedules, returns bridge
  • Sensitivity tables and scenario toggles
  • Model pressure-testing and rebuilds of inherited files

Diligence Support

Financial and commercial diligence that surfaces the real risks.

  • Diligence question lists and add-back analysis
  • Customer, vendor, revenue, margin, and KPI analysis
  • Red-flag identification and IC-memo support

Working Capital / NWC

Net working capital work that protects the purchase price.

  • NWC analysis, peg support, and true-up review
  • AR / AP / inventory and cash-conversion analysis
  • Seasonality and working-capital bridges

Lender / ABL Support

Financing-ready packages for your debt process.

  • Borrowing-base models and lender case builds
  • Covenant analysis and pro forma debt
  • Debt-capacity and downside-coverage analysis

Seller Financial Readiness

Buyer-ready financial organization before a sale, financing process, or investor conversation.

  • Historical financial cleanup and P&L recast support
  • Adjusted EBITDA and add-back support
  • Evidence organization and seller / advisor process support

Value-Creation Analytics

Post-close analytics that turn data into decisions.

  • KPI dashboards, pricing, and margin analysis
  • Customer profitability and vendor-spend analysis
  • Synergy modeling and post-close integration analytics
Not sure which fits your situation? Start a conversation

03 · Representative Experience


Sectors we've worked in.

A cross-section of buy-side and sell-side situations across SMB and lower-middle-market industries. Engagements are anonymized; no client names or confidential figures are shown.

Specialty Food & Seafood Distribution

Margin, customer-concentration, and working-capital analysis for a perishable, high-velocity distribution model.

Value-Add Medical Equipment Distribution

Revenue, margin, and add-back analysis supporting a buy-side diligence process.

Managed IT Services / MSPs

Recurring-revenue, retention, and KPI analysis for a services platform with contracted revenue.

HVAC Services

Seasonality, service-mix, and margin analysis in a field-services operating model.

Building Products & Industrial Distribution

Pricing, inventory, and working-capital analysis across cyclical industrial demand.

Industrial Services & Industrial Filtration

Diligence and modeling support across industrial services and filtration operating models.

Sectors illustrative of prior buy-side and sell-side work; no client names or confidential figures.

04 · How Engagements Work


Scoped, senior, and fast to start.

Fixed-fee or hourly, with a clear scope before any work begins. Most engagements move from first call to delivered analysis in days, not weeks.

01

Scope

We define the deliverable, timeline, and fee before work starts — no open-ended retainer.

02

Review

You send the financials, model, or data room; we review inputs and confirm scope.

03

Build

We build the model, diligence analysis, or financial package to investor-grade standards.

04

Deliver

You receive decision-ready files plus the supporting workings, ready to use with buyers, lenders, or your IC.

48-Hour Model Review Fast pressure-test of an existing LBO or operating model before you act on it.
Pre-LOI Diligence Burst Focused financial and commercial diligence to support a go / no-go and an LOI.
Post-LOI Support Deeper diligence, NWC, and confirmatory analysis through signing and close.
Lender-Readiness Package Borrowing-base model, lender case, and covenant analysis for your debt process.
Seller Financial Readiness Buyer-ready recast, adjusted-EBITDA, and add-back support before a sale.
Portfolio KPI / Value-Creation Analysis KPI dashboards and margin, pricing, and profitability analytics for owned companies.

05 · Scope & Boundaries


Analytical support — not regulated transaction services.

FirmLedge provides fixed-fee or hourly analytical work product. We are not a fractional CFO shop, an accounting or audit firm, a QoE or valuation-opinion provider, an investment bank, a broker-dealer, or a securities or capital-raising advisor. Clear lines keep engagements clean.

What we do

  • Acquisition and operating model support, builds, and pressure-testing
  • Financial and commercial diligence support and IC-memo input
  • Net working capital and peg analysis
  • Lender-package, borrowing-base, and covenant support
  • Buyer-ready financial packaging and adjusted-EBITDA support
  • KPI, margin, and value-creation analytics
  • Management, investor, and lender materials support

What we don't do

  • Legal, tax, audit, or assurance services
  • Formal Quality of Earnings (QoE) reports
  • Fairness or valuation opinions
  • Investment advice or securities advisory
  • Broker-dealer services, capital raising, or investor solicitation
  • Transaction negotiation or success-fee-based deal services

FirmLedge delivers analysis and supporting materials. Decisions, opinions, attestations, and regulated services remain with your own legal, tax, audit, banking, and advisory professionals.

06 · Who's Behind It


Built by a practitioner, not an outsourcer.

Andrew Gallagher

Founder · FirmLedge

FirmLedge is led by Andrew Gallagher, a private equity investor and former investment banking analyst. Most recently a private equity Senior Associate at SNH Capital Partners (promoted from Associate), Andrew previously worked in Industrials investment banking at Wells Fargo Securities, in M&A advisory at a top-10 U.S. accounting firm, and at Nephila Advisors, then the largest insurance-linked securities manager. Across buy-side and sell-side mandates he has closed seven transactions — three buy-side private equity acquisitions and four sell-side and carve-out deals — with closed-transaction experience up to ~$250MM, 200+ platform and add-on opportunities screened, and 20+ LOIs supported. FirmLedge brings that same senior-associate-level analytical capacity directly to your deal.

  • Former PE Senior Associate
  • Former IB Analyst (Industrials)
  • 3 buy-side PE acquisitions
  • 4 sell-side M&A / carve-outs
  • Multi-billion-dollar strategic M&A analysis

Andrew is also the creator of UpLevered, a practitioner desk reference for middle-market private equity.

07 · Start a Conversation

Have a live deal, overloaded diligence workstream, or a model that needs pressure-testing?

Tell us the situation and the timeline. We'll tell you whether it's a fit, how we'd scope it, and what it costs — fixed-fee or hourly.

Please do not include confidential, MNPI, or sensitive transaction materials in the initial email. If the project is a fit, FirmLedge will coordinate a secure intake process.