What M&A journey for an early-stage startup (Seed to Series A)?

Start with an Essential subscription to structure your financial fundamentals. When your fundraising timeline takes shape, order the preparation deliverables (Modules 1-4). Then switch to a Fundraising mandate — all prior investment carries forward.

What M&A journey for a growing SME (build-up)?

Begin with a Strategy subscription to map your market. Module 10 (Acquisition Strategy) structures your thesis. When a target confirms, switch to an Acquisition mandate (Modules 10-13) — your prior investment carries forward.

What M&A journey for a selling owner (SME transmission)?

A Growth subscription optimizes your accounts upstream. Modules 5-9 prepare the divestiture documentation. When you're ready, the sell-side mandate takes over — all prior investment carries forward into the mandate.

Can I order a one-off M&A deliverable without a subscription?

Yes, Before Partners offers à la carte modules with no commitment: investor documentation (Module 2), diagnostic and valuation (Module 5), financial databook (Module 7), target analysis (Module 12). You choose the module you need.

Client Journeys

A system tailored to your profile

No prescribed plan. You start with a subscription, add deliverables when the need arises, switch to a mandate when you're ready. And everything you invest carries forward.

Subscription

Monthly subscription
Outsourced M&A Advisory

→

À la carte module

À la carte modules
when the need arises

→

Mandate

Fixed-fee mandate
+ reduced success fee 2%

4 example journeys, at your initiative

Example A — Startup fundraising

Profile: Tech startup, €1-3M revenue, 3-15 employees. Technical founders, no financial department. First institutional round at €2M

The journey: You're not yet sure about your fundraising timeline, but you feel the need to structure your fundamentals. You start with an Essential subscription. A few months later, the project takes shape: you order the preparation deliverables. When the conviction is there, you switch to a mandate — everything you've already invested carries forward.

Months 1-6
Essential Subscription

Months 4-5
Fundraising Prep

Months 6-10+
Fundraising Mandate

Phase	What Before Partners does	Modules
Months 1-3	Reporting, accounting structuring, cash flow forecasting	Essential Subscription
Months 4-5	Fundraising diagnostic, pitch deck, financial model, investor mapping	1234
Months 6-10+	Roadshow, process coordination, term sheet negotiation, closing	Monthly retainer, reduced 2% success fee

What carries forward

Essential Subscription	-10% on each module ordered
4 simultaneous modules	-15% automatic on all
Switch to mandate	Modules already paid are fully deducted

You move at your own pace, your budget adapts.

Example B — SME external growth

Profile: Industrial or service SME, €15-30M revenue, 60-200 employees. Owner-manager with a sector consolidation thesis. No internal M&A team.

The journey: You have a sector consolidation intuition but no identified target yet. You start with a Strategy subscription to map your market. Module 10 structures your acquisition thesis. When the first targets emerge, you move to active screening with in-depth analyses. The day a target confirms, you switch to a mandate — all your prior investment carries forward.

Months 1-3
Strategy Subscription

Month 2
Acquisition Strategy

Months 4-6
Active Screening

Months 7-11+
Acquisition Mandate

Phase	What Before Partners does	Modules
Months 1-3	Sector intelligence, monthly shortlist, initial target outreach	Strategy Subscription
Month 2	Full acquisition strategy	10
Months 4-6	Active screening + 5 in-depth target analyses	1112
Months 7-11+	LOI, DD, negotiation, closing on 1 selected target	Monthly retainer, reduced 2% success fee

What carries forward

Strategy Subscription	-20% on each module ordered
Switch to mandate	Modules already paid are fully deducted

You move at your own pace, your budget adapts.

Example C — Selling owner

Profile: Owner-founder age 55-65, profitable SME €5-15M revenue, 30-80 employees. First divestiture, no regular M&A advisor. 12-24 month divestiture horizon.

The journey: The divestiture isn't for tomorrow, but you want to prepare serenely. You start with a Growth subscription to optimize your accounts and maximize your valuation. When the project materializes, you order the divestiture preparation deliverables. The day you're ready to launch the process, you switch to a mandate — all your prior investment carries forward.

Months 1-4
Growth Subscription

Months 3-6
Divestiture Preparation

Months 7-12+
Sell-side Mandate

Phase	What Before Partners does	Modules
Months 1-4	Accounting cleanup, EBITDA normalization, working capital optimization, buyer-ready reporting	Growth Subscription
Months 3-6	Valuation + CIM + databook + data room + buyer mapping	56789
Months 7-12+	Buyer outreach, competitive process, DD, negotiation, SPA, closing	Monthly retainer, reduced 2% success fee

What carries forward

Growth Subscription	-15% on each module ordered
Switch to mandate	Modules already paid are fully deducted

You move at your own pace, your budget adapts.

Example D — One-off need

Profile: Startup or SME with a one-off need: pitch deck for a board, valuation for a shareholder agreement, databook for an investor. No immediate recurring need.

The journey: No commitment, no subscription. You choose a module, we deliver. If a second need arises later, you come back à la carte. And if the need becomes recurring, you can switch to a subscription — everything you've already invested carries forward.

Week 1
Scoping
Free call

Weeks 2-5
Deliverable
Module of your choice

Need	Deliverable	Module
« I need a pitch deck »	Investor documentation	2
« How much is our company worth? »	Diagnostic & Valuation	5
« Our investor wants a databook »	Financial databook	7
« Analyze an acquisition target »	Target analysis	12

Which journey for you?

Free 30-minute diagnostic. Together we identify the journey suited to your situation.

Book a Call → Write to us