Natural Gas
Customer & Market Due Diligence Of NG LDC Equipment Supplier: Establishing Natural Gas Consumption Outlook In Light Of Decarbonization
Conducted 5-week customer & market due diligence to: (1) establish macro trends in NG usage; (2) establish market size and growth trends for NG LDC equipment; and (3) determine the competitive landscape for NG LDC equipment. To this end, Gotham: established historic and projected NG consumption trends by leveraging data available from government agencies; developed a country-level market sizing model; conducted interviews with customers, distributors, and competitors across Europe and North America; and performed extensive primary and secondary research to pin down the decarbonization trend and competitive landscape. Armed with a reliable, fact-based assessment of NG demand outlook, our client moved forward with confidence and closed the transaction.
Show Details
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.
Show Details
Customer & Market And Operational Due Diligence Of Leading Propane Distributor: Determining Branch-level Margin Expansion Opportunities And Market Position
Conducted 2-week customer & market and operational due diligence to: validate capture of pricing and operating efficiencies at acquired companies; establish local market dynamics and target’s competitive positioning; and assess regulatory and substitution threat. Gotham: surveyed ~750 propane consumers in target’s service areas; identified/profiled key competitors and conducted 32 competitor interviews in target’s local markets; analyzed zip-code-level propane supply, consumption, pricing, and heating degree day trends; determined pricing optimization and segmentation opportunity; assessed substitution threat from natural gas, electricity, and heat pumps; and analyzed pricing, delivery, and backoffiice expenses at 25+ acquisitions. Comfortable with the target’s opportunity to acquire family-owned local propane distributors and capture pricing/operations improvements, our client was able to move forward with an aggressive but well-informed bid.
Show Details
Customer & Market Due Diligence Of Niche Natural Gas LDC Safety Equipment Supplier: Establishing Addressable Market And Growth Outlook In An Undefined Market
Conducted 1-week customer & market due diligence to establish the addressable market size, growth trends, and competitive landscape for flow control safety equipment in natural gas distribution systems. Gotham: conducted 78 interviews and 44 online surveys with natural gas utilities; built a market sizing model extrapolating interview/survey data; and developed a robust technical profile of natural gas local distribution system configurations and flow control equipment. Armed with valuable clarity and detail in an otherwise information-poor industry, our client was able to complete the add-on acquisition with confidence.
Show Details
Customer & Market Due Diligence Of Technical Services Provider: Establishing Competitive Positioning And Demand Outlook
Conducted a 3-week customer & market due diligence to establish the refinery market outlook, the target’s competitive positioning, and the target's growth opportunities. To this end, Gotham: conducted 38 anonymous interviews with refineries, petrochemical companies, contractors/fabricators, and other industry participants; analyzed refined product demand, refinery production, capacity utilization, plant retirements and consolidation, COVID-related shutdowns, refined product transportation network, and the impact of environmental regulations; profiled the target’s customer/project mix and project profitability; validated the target’s near-term project pipeline; researched heat-treating technical specialization and ASME Code requirements; established the competitive landscape; developed bottom-up heat-treating market sizing model; and determined end-market (LNG Export, Chemical, and Natural Gas Power Plant), geographic, and service line expansion opportunities. Gotham's detailed, fact-based approach provided our client a clear understanding of the refinery market outlook, confirmed the target’s competitive positioning as the leading player in the heat-treating services market, and helped our client develop confidence in the near-term revenue outlook.
Show Details
Customer & Market Due Diligence Of Electric And Gas Utility Contractor: Establishing Market Size, Competitive Positioning, And Margin Sustainability
Conducted 3-week customers & market due diligence to establish the target’s margin sustainability, reputation, competitive positioning, and growth opportunities. To this end, Gotham: performed a utility-specific spend and competitive dynamics assessment leveraging data from 30 utilities in 8 states; conducted interviews with key transmission and distribution executives at top customers; carried out a state-by-state deep dive to develop a competitive landscape and profile key competitors; and analyzed the target’s financial data to establish a margin profile by division, state, and project size. Gotham’s utility-by-utility assessment of the target’s current and expansion markets provided our client with clarity on the target’s margin sustainability, competitive positioning, and growth opportunities, allowing them to pursue the target aggressively.
Show Details