Private Equity Companies

You have a value creation plan. Can technology deliver it?

Engineering is typically the largest cost line with the least visibility. The Operating Partners hear "engineering is fine" but lack independent data to confirm or challenge that. CEOs can't answer the board's questions about delivery capacity. CFOs can't benchmark what they can't measure.
Our PE-tailored team diagnostic gives a data-driven, objective and evidence-based view not just of engineering performance, but of the  system around it. Where the real constraints are. Whether they sit inside engineering or somewhere else. And what to do about them.

Our APPROACH

Most engineering assessments treat engineering as the unit of analysis. We treat the whole organisation as the unit of analysis, with engineering as the lens.

Delivery problems are rarely just engineering problems. They might be a missing product management function, a CEO injecting work directly into the backlog, poor sales discipline creating reactive demand, or a lack of strategic clarity at the board level. Engineering metrics alone won't surface any of that. That's why we combine delivery data with targeted interviews, competitive analysis, strategy review, and organisational capability assessment gain a full picture of not just what's happening in engineering, but why.

Start with the thesis

What's the investment mandate?

Every engagement starts by understanding the thesis. It determines which questions matter, which metrics to benchmark, and what the diagnostic needs to reveal.

The situation
Engineering usually becomes the constraint within 90 days — but is it an engineering constraint, or is it that there's no product function translating commercial ambition into a deliverable roadmap? We show you which it is.
What we assess
Delivery throughput and feature velocity
Engineering capacity vs. strategic ambition alignment
Product management effectiveness
Roadmap congestion root causes — technical or organisational
What you get
Clear picture of whether the bottleneck is capacity, process, or leadership
Benchmarked delivery metrics against comparable businesses
Specific interventions mapped to the actual constraint
Board-ready view of engineering's role in the growth plan
the situation
Engineering is typically the largest cost line in a tech business. We show you whether the cost profile is being driven by engineering itself or by organisational demands on it.
What we assess
Engineering spend efficiency benchmarked
Capacity allocation — strategic vs. reactive
Low-ROI projects consuming resource
Organisational drivers of cost: demand fragmentation, scope churn, rework
What you get
CFO-ready view of engineering economics
Identified savings without capability sacrifice
Clarity on whether cost is driven by engineering or by what's asked of it
Benchmarked R&D spend narrative for board and exit
the situation
The next buyer will run hard diligence on the product and tech function. Because we look at the full system, not just engineeering, the story holds up when they ask "why does the roadmap look like this?"
What we assess
Product and engineering capability against buyer expectations
Technical debt and architecture gaps that will surface in DD
Product story credibility — roadmap, leadership, organisational maturity
CPO/product leadership gap assessment
What you get
Pre-exit readiness assessment that mirrors buyer DD
Gap remediation plan prioritised by exit impact
Credible product narrative backed by evidence, not assertions
Interim CPO engagement option where leadership is missing
the situation
Buy-and-build only works if you know what you've bought — and how each entity's engineering is shaped by its organisational context. We give you a clear picture so you can integrate with confidence.
What we assess
Engineering health across portfolio entities
Technology stack rationalisation — what survives, what doesn't
Resource allocation across entities and shared services
Integration readiness and organisational compatibility
What you get
Consistent benchmarking across all acquired entities
Integration risk map with organisational, not just technical, factors
Platform scalability assessment for the combined business
Evidence-based rationalisation recommendations
Across the hold period

Four moments where we engage

Different stages of the PE lifecycle surface different questions. The diagnostic adapts to where you are.

01
Pre-deal diligence

Technology and delivery capability assessment for deal underwriting. Targetted diagnostic of delivery to gain visibility on what you are actually buying.

Pre-acquisition
02
Post-acquisition diagnostic

A 360 assessment of the technology and wider organisation to provide a full-system diagnostic. The foundation for the value creation plan.

First 100 days
03
Delivery optimisation

Ongoing performance measurement, monitoring and intervention to inform continuous delivery optimisation. Keeping delivery on track against the thesis.

Mid-hold
04
Exit readiness

Preparing the product and technology narrative for buyer scrutiny. Evidencing the story, fixing what matters, and building credibility to achieve maximum value.

12–18 months pre-exit
How we work

Data tells you what. Research tells you why.

Engineering metrics show the symptoms. Interviews, research, and analysis reveal the organisational causes. We combine both — no workshops, no six-month programmes. Focused, rigorous, and light on management bandwidth.

01
Engineering metrics from existing tools

We connect to the delivery and engineering tools the team already uses — no new platforms to deploy. This gives us the quantitative picture: throughput, cycle time, capacity allocation, quality signals.

02
Targeted interviews across the organisation

Focused conversations with engineering, product, commercial, and leadership stakeholders. Not a survey exercise — structured interviews designed to surface how work flows into engineering, where priorities break down, and what the data can't show on its own.

03
Desk research, competitive analysis, and strategy review

We assess the business context the engineering function operates in — market positioning, competitive landscape, product strategy coherence, and organisational capability. The data only makes sense when you understand the strategic demands being placed on the team.

04
Benchmark against peers

Cross-company benchmarking that no internal team can replicate. Engineering performance contextualised against comparable businesses — independent data that carries weight at the board and at exit.

05
Deliver a board-ready picture

Not a report — the ability to act. Quantitative evidence and qualitative insight synthesised into clear findings, root causes, and specific interventions. Rich enough to support investment, restructuring, or leadership decisions.

Tool agnostic
DX
LinearB
Swarmia
Pluralsight Flow
Jira
GitHub
GitLab
…and whatever your teams already work in
Role-specific view

Tailored for context, and action

The same diagnostic surfaces different value depending on your role.

PE Firm
Operating Partner

You need to drive operational and commercial improvements in portfolio companies and drive the value-creation initiatives.

The problem

You hear "engineering is fine" from the CTO but lack independent data to confirm or challenge that at the board level. Engineering is the fastest-changing specialism in your portfolio — and most mid-market funds don't have a dedicated technology OP.

What you get

Diagnostic accuracy. Not just "engineering is slow" but "engineering is slow because there's no product function triaging demand and the CEO is injecting work directly." That's an entirely different intervention than hiring more engineers.

Our message to you

We give you an independent view of engineering performance and the system around it — because most of what looks like an engineering problem turns out to be a product management problem, a prioritisation problem, or a leadership problem. We show you which it is.

Portfolio Company
Portfolio CEO

Executing the value creation plan under PE board oversight. Needs evidence for board conversations and the confidence to act.

The problem

The board wants evidence, not opinions. If growth is the thesis but the roadmap is congested, you're caught between the board's expectations and the CTO's assurances. You need independent data to resolve the gap.

What you get

A board-ready objective view of engineering performance and, critially, which levers to pull to optimse. The diagnostic shows whether the constraint is in engineering, in product management, in how work is prioritised, or in how the business itself generates demand.

Our message to you

Too many delivery problems aren't engineering problems. They're product management gaps, unclear strategy, reactive prioritisation, or organisational noise. The diagnostic shows you which levers to pull.

Portfolio Company
CTO

Accountable for engineering execution and, very often, product management and internal operations too. You need engineering work and issues translated into financial metrics and board narratives.

The problem

The board is asking why the roadmap is slipping and you know it's not your team's fault. But you can't prove it. Requirements change mid-sprint, there's no product management layer filtering demand, and priorities shift weekly. Your metrics dashboards show what's happening inside engineering but not why.

What you get

Independent evidence that covers the full system including the things outside your control that affect your team's performance. If the bottleneck is in engineering, we'll find it. But if it's upstream, we'll find that too. Hugely valuable when you know the problem isn't yours but can't prove it.

Our message to you

We assess engineering performance in context — not just what your team delivers, but what's being asked of them, how work reaches them, and whether you and the wider organisation are set up for them to succeed.

Portfolio Company
CFO

Needs engineering translated into the same financial language applied to every other cost line.

The problem

Engineering is typically the largest cost line with the least visibility. You can't benchmark R&D efficiency against peers, and a buyer at exit will ask "what does engineering cost relative to comparable businesses, and what do you get for it?" You need a credible answer.

What you get

A financially-framed view of engineering economics with spend efficiency, capacity allocation, and the organisational drivers behind the cost profile. This is an auditable narrative for the board and for exit.

Our message to you

Engineering is typically the largest cost line with the least visibility. We give you a clear, financially-framed view of what that spend is producing — and whether the cost profile is being driven by engineering itself or by how the rest of the business demands work from it.

Portfolio Company
CPO / VP Product

Owns the product roadmap and commercial alignment. In many mid-market portcos this role is vacant — which is itself a signal.

The problem

Without a functioning product management layer, engineering absorbs the chaos of unfiltered commercial demand. Everyone blames engineering for being slow, but the constraint is upstream — and nobody is measuring that.

What you get

Independent data connecting product management effectiveness to engineering delivery outcomes. If the CPO role is vacant, the diagnostic surfaces that gap — and our interim CPO engagement provides methodology-led leadership, not just a body.

Our message to you

We assess how work flows into engineering — including whether there's a functioning product management layer between commercial demand and engineering capacity. In many mid-market businesses, this layer is thin or missing entirely. We make that visible.

Start with a diagnostic on your most recent acquisition

A four-week engagement that gives you a board-ready view of engineering health and the organisational system around it. Low commitment, high signal — most engagements start here.

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