We do not sell packages. Every engagement is scoped against the decision it supports, the capital at stake and the seniority required to get it right. The ranges below reflect where our work actually lands.
A defined piece of analysis with a clear deliverable and an end date. Financial models, valuations, feasibility studies, market and competitive analysis, pro formas, diligence preparation.
Priced on scope at engagement. Most land in the middle of the range once the work is defined.
A full mandate where we are accountable for an outcome rather than a document. Transaction processes, economic development strategies, capital structure work, multi-phase development advisory.
Phased against milestones on longer mandates, so fees track delivery rather than arriving in a single invoice.
Standing capacity for organisations that need senior financial and strategic judgment available continuously rather than project by project.
Scoped to the workload and the seniority required. Reviewed at agreed intervals as the mandate evolves.
A model supporting a $15M acquisition and one supporting a $500M multi-phase master plan take different amounts of work, carry different consequences if wrong, and are priced accordingly.
A single valuation is one engagement. A valuation running alongside a capital structure review and a market analysis is three, and they interact.
Some mandates are principally build work with a defined output. Others require us in the room through months of negotiation and board discussion. The second costs more because it consumes senior time.
Work that has to be delivered against a compressed deadline requires more of the team at once. Where a timeline is driven by a regulatory date or a closing schedule, that is priced in.
One buyer is simpler than a competitive process. A single lender is simpler than a syndicate. Multi-party joint ventures and cross-border structures carry more of everything.
Where financials are clean and the data room exists, we start on the analysis. Where they are not, the preparation is part of the work and the scope reflects it.
Scope, deliverables and fee are set in the engagement letter before work begins. If scope changes materially, we agree the change before doing the work, not after.
Our founding partner is on every mandate alongside the partner who specialises in the sector. Analyst support is added on larger engagements, but the senior judgment is not delegated.
Financial models are delivered as editable files with full rights. You are not renting access to a model you paid us to build.
Our fees do not depend on a transaction closing or on which option you choose. We are paid for the analysis, which is the only way the analysis stays useful.
Mutual NDA at scoping. Client information is compartmentalised within the firm, and we disclose any potential conflict before an engagement begins.
We scope the work in the first conversation and follow with a written proposal setting out deliverables, timeline and a fixed fee. On larger mandates that proposal includes an estimated hours breakdown by phase, so you can see what you are paying for rather than taking a number on trust.
Yes, and larger mandates usually are. We sequence the work so each phase produces something usable and you decide whether to continue before the next phase begins. It reduces your exposure and keeps the scope honest.
We agree the change and the fee before doing the work. Our rate card for change orders is set out in the engagement letter at the outset, so there is no negotiation at the point you are least able to have one.
No. Our fees are fixed or retainer-based and do not depend on a transaction closing or on which recommendation you accept. That independence is the reason our analysis is worth commissioning.
Often the right first step is a defined piece of analysis rather than a full mandate. It gives you a view of the work before committing to more, and it gives us a real understanding of the business before we advise on it.
The partners you meet at scoping are the partners on the work. Analyst and associate support is added on larger mandates, under partner direction.
The first conversation is exploratory, confidential and free. We scope the work, tell you what it would cost, and put it in writing before anything begins.