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Inspection, Cleaning, and Repair Services
Customer & Market Due Diligence of Municipal/Utility Services Company:  Deciphering a Niche Market to Validate Target’s Growth Plan

Conducted 4-week customer and market due diligence to:  (1) establish municipal budget outlook; (2) establish market size and growth outlook for wastewater infrastructure services;  and (3) understand the target’s competitive positioning. The effort included:  124 interviews with municipal and utility officials; in-depth research of environmental regulations; top-down/bottom-up municipal budget analysis; and creation of 3 bottom-up marketing sizing models. Gotham’s comprehensive, fact-based approach verified that the target’s aggressive growth plans were realistic and the target had established a strong reputation with its customers. This allowed our PE client to gain confidence in the target’s ability to meet its revenue plan and move forward with the acquisition.      

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Road Maintenance Equipment Supplier
Customer & Market Due Diligence of Leading Road Maintenance Equipment Supplier:  Assessing Revenue/Growth Risk Pre-LOI

Focused Pre-LOI due diligence effort on establishing state DOT/municipal budget dynamics (the target’s greatest dependency), the target’s competitive positioning, and growth trends of the target’s road maintenance equipment market. Gotham: 1) compiled 10 years of state DOT budget details for 30 key states; 2) conducted ~50 interviews with state DOTs (and some municipalities); 3) built a state DOT equipment fleet profile, including fleet size, replacement cycle, age distribution, and manufacturer by equipment type; and 4) established the competitive landscape of the road maintenance equipment market. Because Gotham’s fact-based assessment painted a less optimistic picture than management’s projections, our client decided not to pursue the acquisition.   

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Multi-disciplinary Engineering Services Firm
Operations Improvements at Multi-disciplinary Engineering Services Firm:  Improving Profitability and Revenue Performance

Conducted a 6-week operations assessment to turn around the company’s margin performance and position it for a successful exit in 2-3 years’ time. Analyzed historical project and employee utilization performance; developed target staffing leverage model; and created target business development model to improve efficiency of business development effort while driving profitable revenue growth. Our detailed assessment gave our client a solid understanding and roadmap of the levers to achieve the target margin performance (5-7% points growth); client requested Gotham to provide ongoing support through quarterly performance audits.

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Consumer Electronic Device Provider
Pragmatic Growth Strategy for Consumer Electronic Device Provider:  Developing Multi-brand Growth Strategy in Preparation of PE Exit 

Established feasibility of multi-brand strategy to support a transformative add-on acquisition, created company’s domestic and international growth strategy to position the company for a successful exit in 18-24 months, and developed an actionable strategic plan.  Effort included:  interviewing 160+ government officials, competitors, consumer/influencers, and other industry participants; researching market, competitive, and regulatory dynamics; building robust state-by-state market size/growth and cannibalization models; and developing multi-brand, Canada entry, and product line expansion strategies. Gotham’s assessment and recommendations allowed the client to move forward with the add-on acquisition and enter Canada, as well as start executing near-term aspects of growth plans to set stage for exit.

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Fluid Power Equipment Repair Company
Customer & Market Due Diligence of Fluid Power Equipment Company:  Assessing Adjacent Market Growth Opportunities in Several Technically-complex Niches

Conducted customer & market due diligence to validate adjacent market growth opportunities, including offshore oil & gas, forestry, marine, and civil infrastructure and other end-markets under consideration. Interviewed 150+ competitors, customers, prime contractors, and other key value chain participants, researched complex technical requirements, and leveraged government and industry data to develop a robust fact base, including size/growth models for each end-market, geographic gap analysis, and profiles of key competitors/potential acquisition targets. Based on Gotham’s findings and recommended expansion strategy, PE client closed the deal and is pursuing an acquisition to fill a key geographic gap.

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Specialty Engineering Consulting Firm
Customer & Market Due Diligence of Specialty Engineering Consulting Firm:  Clarifying Investment Potential in Highly Complex Niche Market

Conducted Customer & Market Due Diligence for Midwestern PE client to sort through target’s complex market dynamics, validate its competitive positioning, establish the criteria driving customer buying behavior, and provide clarity on growth opportunities moving forward. Profiled over 180 competitors, interviewed 60+ customers, and conducted extensive secondary research on market dynamics to provide PE client with a clear picture of in-going growth opportunities. Client proceeded with the acquisition based on Gotham’s findings.

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