Due Diligence Analytical Services for Small Business Buyers
Wall Street-grade diligence for the deals Wall Street ignores: faster, and at a fraction of the cost.
Institutional analysis for Main Street acquisitions.
- Delivery
- Days, not weeks
- Focus
- Sub-$10M EBITDA deals
- Pedigree
- 20 years institutional buy-side
Overview
Too small for Wall Street.
Too important to get wrong.
Workup provides due diligence analytical services for buyers of small businesses: independent searchers, search funds, and high-net-worth acquirers targeting sub-$10M EBITDA companies. Workup delivers institutional-grade diligence analytical services at speed, priced for Main Street acquisitions rather than Wall Street budgets. Deals too small for Wall Street, but too important for buyers to get wrong.
Two passes on every number
An AI-native analysis engine performs the tie-out, add-back testing, and benchmark pull at speed; the reviewer of record confirms or overrides every finding and signs the report.
Institutional pedigree
Built on a 20-year institutional buy-side background, bringing hedge fund-caliber analysis to every engagement.
Priced for Main Street
Institutional-grade diligence priced for Main Street acquisitions rather than Wall Street budgets.
How the analysis is built
Two passes on every number.
The model does the mechanical work
An analysis engine performs the tie-out (books reconciled to tax returns, revenue traced to bank deposits), tests every seller add-back against bank data, and pulls the industry benchmarks. Every schedule foots and cross-foots before anything renders; a run that does not reconcile does not produce a report.
The reviewer of record signs
A practitioner with twenty years of institutional portfolio management experience confirms or overrides every finding, adjudicates every judgment call, and signs the report. Reviewer overrides are recorded in the engagement file with their source and date.
Your data stays yours
Documents are processed through enterprise AI services under agreements that prohibit training on your data, encrypted in transit and at rest, and deleted 90 days after delivery unless you ask us to retain them.
Service Tiers
Rigor calibrated to where you are in the deal.
Delivered in days, not weeks.
Pro
A fast, rigorous read on a deal
$3,500 per deal
Two-pass analysis of target-company financials and key documents, delivered as a structured diligence report and reviewed by the reviewer of record. For buyers who need a fast, rigorous read on a deal.
Delivery: Within 5 business days of complete document receipt.
Pro fees are credited in full toward a Diligence engagement on the same deal within 60 days.
Diligence
The complete workup
Comprehensive workup: full financial analysis, contract and operational document review, risk flags, and a written synthesis with an experienced practitioner’s judgment layer. For buyers moving toward LOI or close. A reliance letter to your named lender is included at your election, so the report you commission is the report your bank relies on.
Delivery: Within 5 business days of complete document receipt.
Expedited: 48 to 72 hour delivery available at a premium for deals under LOI deadline pressure.
Self
Coming soonSoftware access, self-serve
Self-serve software access to the Workup analytical engine.
Join the waitlistAdd-ons
LOI Review
$1,50048-hour analytical review of the terms and structure of a specific offer against your workup’s findings; memo plus a 30-minute call. Tactical: the deal in front of you.
CheckoutDeal Perspective
$5,000The reviewer of record’s read on the business in market context: industry dynamics, competitive position, comparable transactions, and an implied range at market multiples with the characteristics that place it there; six to ten page memo plus a 60-minute call. Strategic: what you are buying and why the market prices it as it does. Founder-delivered; requires a Workup Pro or Diligence engagement; does not credit toward Diligence.
CheckoutExpedited delivery
+45%48 to 72 hours from complete materials, arranged at engagement.
Workup provides analytical context, not valuations, appraisals, or investment advice.
Your documents
Encrypted in transit and at rest · never used to train AI models · deleted 90 days after report delivery · E&O and cyber insured.
About the Founder
Gray Smith
Founder, Workup AI
Workup was founded by Gray Smith, who spent twenty years on the institutional buy side, including senior portfolio management roles at major hedge funds and founding a consumer and internet-focused fund, before building Workup to bring that analytical standard to small business acquisitions. He also builds and QA-reviews financial modeling evaluations for AI systems.
Every workup applies the same discipline used to evaluate public companies: rigorous financial analysis, document-level verification, and clear-eyed judgment about what the numbers actually say.
Two minutes on what Workup does
Contact
Start your workup.
Send us your deal. We’ll respond within one business day.