Stout provided sell-side financial due diligence services for the sale of a middle-market, private-equity-owned agriculture services business. The business was a leading provider of vegetation management and emergency storm response services in the Southeast and Midwest United States.

The Stout Financial Due Diligence team worked closely with management in performing a quality-of-earnings analysis and net-working-capital procedures. A key focus during diligence was customer revenue and margin by project, as the contracts tended to be long-term in nature and structured as either fixed price or time and materials. Stout was involved throughout the process assisting management, financial advisors, and legal advisors with buyer inquiries, roll-forwards, net working capital peg, and purchase agreement review.