Commercial truth for capital decisions.

VAERG delivers independent, IC-grade analysis of pricing, margins, and value risk. The work is designed for transactions and board-level decisions where assumptions carry material downside.

VAERG is used by private equity funds, serial acquirers, corporate M&A teams, and investment companies to test commercial cases before capital is committed.

What VAERG does.

VAERG provides IC-grade commercial underwriting and economic validation. We assess structural robustness, identify breakpoints, and validate economic reality at transaction level.

Structured. Disciplined. Decision-focused.

1. VAERG Commercial Underwriting. (24 hours turnaround)

Structured commercial underwriting of pricing logic, margin structure and revenue durability. Designed to identify structural fragility, concentration exposure and economic breakpoints, and to assign a calibrated commercial grade (A–E). Based on seller-provided IM, teaser or pitch deck.

Output: focused underwriting report and commercial grade.

Use case: Commercial decision support during the acquisition process, for platforms and add-ons.

2. VAERG Commercial Underwriting Extended. (3–5 days)

Expanded structural commercial underwriting applying the same framework and grading logic with greater evidentiary depth. Based on IM, management materials and structured financial data.

Output: expanded underwriting report and commercial grade.

Use case: Commercial decision support during the acquisition process, for platforms and add-ons.

3. VAERG Commercial Value Audit. (5–10 days)

Comprehensive analysis of pricing architecture, margin structure and EBITDA potential based on full data room access, including customer databases, pricing history, SKU and product margins, contract logic and churn.

Output: quantified transaction-level economic map identifying value pools and structural risk.

Use case: Used pre-closing, during ownership, and ahead of exit to validate economic reality.

Harmonisation as a value driver.

Harmonisation is treated as a commercial truth test, not a blanket initiative. The purpose is not to make all customers equal, but to make differences explicit, justified, and governable. Where structures are incoherent, margin becomes fragile and value creation becomes aspirational.

Commercial truth at transaction level.

VAERG analyses transaction-level behaviour to reveal how margin is created and where it quietly leaks. For investors, this makes pricing quality and downside risk visible before the deal is locked.

One doctrine. Three analyses.

VAERG applies a single commercial underwriting framework across the acquisition lifecycle.

In every case: a defensible base case, calibrated risk, and explicit breakpoints.

Why it matters.

Capital decisions rarely fail due to lack of data. They fail because weak assumptions are allowed to pass as truth. VAERG exists to prevent that. When pricing quality, margin structure, and revenue durability are understood early, valuation discipline improves and bad cases die faster.

From truth to action, selectively.

VAERG is not an implementation firm. In selected operating company engagements, execution support can be provided as a separate mandate when boards or owners require measured value capture. The analysis always remains the same. Independent. Evidentiary. Non-excusable.