Lensential

WHO WE SERVE · FAMILY OFFICES

Your office sees every kind of deal.

For single-family offices that invest directly. A founder's seed round, a co-investment offered by a private equity firm and a company for sale can reach your office in the same month. Our analysts screen each one within 24 hours with our own AI research systems, Lensential Venture for startups and Lensential PE for buyouts. Then they check the facts the deal depends on and work out what you could earn at the price you would pay. The decision stays with your family.

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WHAT YOU CAN ASK US

Which of the deals in front of us deserve our time?Answered by: Sorting against what your office invests in, then a screen, in Lensential Venture or Lensential PE A founder pitched our family directly. Is what we were told true?Answered by: The diligence report in Lensential Venture A private equity firm offered us a co-investment. Are the numbers as good as the firm says?Answered by: A screen of the documents that came with the offer, and a test of each adjustment to earnings, in Lensential PE Can we make money at this price?Answered by: The Exit Brief in Lensential Venture, or the buyout model in Lensential PE What does this SAFE or convertible note actually pay us?Answered by: The Note Brief in Lensential Venture A company our family owns directly is behind its plan. What can its board still decide?Answered by: A turnaround study, using Lensential Venture, Lensential PE and Lensential Consult Can our office ask its own documents a question and see the page each answer comes from?Answered by: A company brain, which we build in your office's systems

WHAT YOU RECEIVE

One standard for a seed round and a buyout.

FINDINGS REGISTER · THE NUMBERSSPECIMEN
RefFindingDirectionFirmnessThe company's best answerDoes it survive?
F-07USD 240,000 ARR is one USD 18,000 invoice, grossed up and multiplied by twelve▼ ADVERSEVERIFIED"Every early company annualizes a pilot."Yes, in full. It is the company's arithmetic on the company's documents.
F-06One customer credit, USD 18,000, in 31 consecutive monthly bank statements▼ ADVERSEVERIFIED"We are pre-commercial."Yes. The answer concedes it.
F-10Recomputed runway after the round is 11.8 months, against 18 in the model▼ ADVERSEPARTIAL"The study can be scoped down and hiring slowed."Partly. Both levers are real, and neither is quantified in the file.
F-15The bank record is complete, consecutive and free of gaps▲ FAVORABLEVERIFIEDNone needed.Yes. Every credit in the company's life is identifiable to a counterparty.

Four of forty findings in the specimen diligence report, which ranks every finding by how well it survives the company's best answer.

Specimen. Thornlark Diagnostics is a fictional company.

See the reports in Lensential Venture
EARNINGS QUALITY · TESSALINE PACKAGING GROUPSPECIMEN

€7.0M of addbacks on €41.0M reported

LineAmountEvidenceLabelIn the range
Reported EBITDA, last twelve months€41.0MThe starting point, not the CIM's figureBoth ends
Belgian severance+€1.6M23 signed settlement agreements, the payroll register and the ledgerVERIFIEDBoth ends
Monitoring fees+€1.4MThe ledger and the monitoring agreementVERIFIEDBoth ends
"Efficiency program"+€1.2MLedger account 6480 shows 0.7, 0.9, 0.8 and 1.2 in four consecutive periodsPARTIALHigh end only
ERP and other one-off costs+€1.2MInvoices support phase 1; the ERP contract schedules a phase 2 for 2027PARTIALHigh end only
Run-rate energy savings+€1.6MThe contract took effect after the twelve monthsREPORTEDLeft out
Repairs capitalized-€0.8MLeft out of the seller's bridgeBoth ends
Bonus accrual released-€0.4MLeft out of the seller's bridgeBoth ends
€48.0MThe CIM's adjusted EBITDA
€42.8M to €45.2MDiligenced EBITDA

The €4.0M between the CIM and the midpoint of the range (€44.0M) is worth €38.0M of price at 9.5x and €19.0M of debt at 4.75x.

The low end counts the Verified lines and the two lines the seller left out. The high end adds the two Partial lines.

Specimen. Tessaline Packaging Group is a fictional company.

See the reports in Lensential PE

HOW IT WORKS WITH YOU

More deals, without more staff.

On stated deadlines.

A screen within 24 hours of the pitch deck or the documents that come with the offer. For a venture deal, the diligence report within ten business days of access to the company's documents. For a buyout or a co-investment, a check of the numbers within five business days of that access. The full diligence report follows within fifteen business days of that access and of the transcripts of your calls with the company's customers. One of our principals reads and signs every paper.

Two ways to buy the research.

Per paper, or a retainer for an agreed number of screens and reports each quarter. Fees are agreed before any work begins.

Private by default.

What your office sends us is never shown to another customer, and we name no customer without consent. If you want an NDA, we sign it. Before we start work on a deal, we tell you about any investment or role our principals have in the company or its direct competitors.

When we already work on the deal.

If we work on the same deal for another party, such as the private equity firm leading it, we tell you before we start, without saying what we found. If you ask us not to take the work, we do not take it.

Your advisers keep their roles.

We send tax, legal and regulatory questions to your advisers, each question with the date its answer is needed.

Software for your office, too.

We can also build software that runs in your office's systems. One example is a searchable record of every deal your office has looked at; another is an AI agent that collects the quarterly updates from the companies your family owns directly.

We do not recommend for or against an investment, and we give no tax, legal or regulatory advice.

THE SYSTEMS BEHIND IT

Lensential Venture Lensential PE Lensential Consult Build with us

Send us the last deal your office turned down, or the last one it made.

We screen it free within 24 hours, once per office. Or ask for a specimen report first.

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