Red flag financial due diligence support ONLY: - Industry: veterinary industry - Growth model: Buy & build in Germany - Deal structure: Mainly asset deals (95%) - no B/S, net debt, working capital - Only fixed fee arrangements FDD Scope - Red flag only - Direct contact to sell-side tax advisor - Expected duration per project (based on fully loaded VDD): first FDDs up to 2 weeks, further projects within 1 week realistic - Basis: German full ledgers (BWA, SuSas) - P&L: historicals, no business case, current trading (YTD, LTM), quality of earnings, check for adjustments/one-offs, etc. - Revenue per key employees (vets), salaries check (Lohnjournale) - Output: no report, only financial data book, 1-2 limited and short Q&A iterrations possible