PRIVATE EQUITY SERVICES

Technology that drives portfolio value from deal to exit

We work with PE firms and their portfolio companies across the full investment lifecycle, from pre-acquisition technical & AI due diligence through to value creation delivery and exit readiness. 

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Our investment partners and Portco clients include

More Success Stories

Your trusted delivery partner

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PE-backed tech businesses assessed or delivered across the UK and Europe
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PE firms across buyout, growth equity, and venture stages who have engaged Codurance
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of exit readiness engagements where sale completed without TDD disruption
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of Software craftsmanship with Principal-level practitioners
A massive thank you for preparing our business for the tech due diligence: today we completed on the sale. The work Codurance did was absolutely invaluable – the auditors commented specifically on the quality of the documentation. After all the preparation we did together, the presentation to the buyer passed without issues.

CTO

Recently exited PE-backed B2B technology business · Exit Readiness engagement

Codurance is a valued delivery partner across multiple portfolio companies for diligence, turn­around and new product development technology projects.

Jonathan Morris

CTO In Residence, Private Equity

Codurance provided us with a clear, structured and highly insightful assessment of AI risk and opportunity across our portfolio.

Steve Harrison

Partner, YFM Equity Partners

THE LIFECYCLE

Four stages. One continuous partnership.

We can enter at any point in your investment cycle or partner with you across the full journey, from the first look at a target through to exit day. Every engagement is led by Principal Craftspeople with deep engineering and architecture experience.

Codurance Principal Craftsperson leading a technical discussion with a private equity portfolio company team
  • Step 1

    Technical & AI Due Diligence

    Independent, buyer-side assessment of the target's technology estate before you commit capital.


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  • Step 2

    First 100 Days Deep Dive

    Technology deep dive post-close to validate the value creation plan and surface early-stage risk.

     

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  • Step 3

    Value Creation Roadmap

    Embedded delivery to accelerate the engineering transformation underpinning your 5× return target.

     

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  • Step 4

    Exit Readiness

    Board-ready technical risk assurance to protect valuation and ensure a clean, confident data room.

     

     

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  • Step 1

    Technical & AI Due Diligence

    Independent, buyer-side assessment of the target's technology estate before you commit capital.


    Read more icon-arrow-down

  • Step 2

    First 100 Days Deep Dive

    Technology deep dive post-close to validate the value creation plan and surface early-stage risk.

     

    Read more icon-arrow-down

  • Step 3

    Value Creation Roadmap

    Embedded delivery to accelerate the engineering transformation underpinning your 5× return target.

     

    Read more icon-arrow-down

  • Step 4

    Exit Readiness

    Board-ready technical risk assurance to protect valuation and ensure a clean, confident data room.

     

     

    Read more icon-arrow-down

BUY SIDE · STAGE 01

Technical & AI Due Diligence

Before you commit capital, you need to know what you are actually buying. Our independent technical & AI due diligence gives you a clear-eyed view of the target's engineering capability, architecture quality, and the real cost of what's been left undone so valuation conversations are grounded in evidence, not optimism.

  • Codebase health, architecture coherence, and scalability 

  • Security posture, compliance status, and data governance

  • Technical debt quantification and cost-of-delay modelling

  • Engineering team capability, key-person risk, delivery predictability

  • AI and data readiness, increasingly expected by deal teams

  • IP ownership, licensing exposure and vendor lock-in

DELIVERABLES

Red-flag executive summary

Deal-level risk narrative framed for the investment committee with key findings, valuation sensitivities, and recommendations

Domain-level RAG assessment

Risk-rated findings across architecture, security, debt, team, data, and IP with financial exposure estimates

Post-close action plan

Prioritised 90-day remediation plan to form the basis of the First 100 Days engagement

Management Q&A support

Attendance at management presentations and technical Q&A sessions where required

DELIVERABLES

Value creation plan for technology

Sequenced roadmap aligned to the investment thesis, with milestones tied to value creation events

Full technical assessment report

Detailed findings across all domains with post-close access confirming, revising, or escalating pre-deal risk ratings

Engineering team evaluation

Capability assessment, leadership gap analysis, and hiring and structure recommendations for the hold period

Quick-win delivery plan

Prioritised short-horizon improvements that demonstrate momentum and reduce near-term operational risk

POST-CLOSE · STAGE 02

First 100 Days Deep Dive

The first 100 days set the trajectory for the entire hold period. Our post-close technology deep dive goes beyond the pre-acquisition assessment to validate the value creation plan with full access to systems, data, and people and to confirm whether the investment thesis is technically achievable at the speed and cost the model assumes.

We surface the hidden risks that only become visible after close, stress-test the roadmap assumptions, and produce a clear technology value creation plan that the portco leadership team can execute against with confidence.

  • Full codebase and infrastructure assessed 

  • Validation of the pre-close technical findings aligned to risk

  • Investment thesis stress-test: tech able to deliver planned growth? 

  • Engineering team assessment - capability, structure, leadership 

  • Identification of quick wins for the hold period

  • Technology value creation plan aligned to 100-day plan 

POST-CLOSE · STAGE 02

First 100 Days Deep Dive

The first 100 days set the trajectory for the entire hold period. Our post-close technology deep dive goes beyond the pre-acquisition assessment to validate the value creation plan with full access to systems, data, and people and to confirm whether the investment thesis is technically achievable at the speed and cost the model assumes.

We surface the hidden risks that only become visible after close, stress-test the roadmap assumptions, and produce a clear technology value creation plan that the portco leadership team can execute against with confidence.

  • Full codebase and infrastructure assessed 

  • Validation of the pre-close technical findings aligned to risk

  • Investment thesis stress-test: tech able to deliver planned growth? 

  • Engineering team assessment - capability, structure, leadership 

  • Identification of quick wins for the hold period

  • Technology value creation plan aligned to 100-day plan 

DELIVERABLES

Value creation plan for technology

Sequenced roadmap aligned to the investment thesis, with milestones tied to value creation events

Full technical assessment report

Detailed findings across all domains with post-close access confirming, revising, or escalating pre-deal risk ratings

Engineering team evaluation

Capability assessment, leadership gap analysis, and hiring and structure recommendations for the hold period

Quick-win delivery plan

Prioritised short-horizon improvements that demonstrate momentum and reduce near-term operational risk

HOLD PERIOD · STAGE 03

Value Creation Roadmap

The engineering transformation work that turns the investment thesis into a demonstrable reality, accelerating the path to 5× returns.

Most of the value in a PE-backed software business is locked inside the engineering capability and the technology platform. Releasing it requires more than a project plan; it requires embedded practitioners who can lead technical change, transfer knowledge, and build the internal capability that sustains delivery after Codurance's involvement ends.

Our Principal Craftspeople work embedded within portco engineering teams, delivering the modernisation, platform improvements, and AI adoption that the value creation plan requires, while leaving the team genuinely stronger than we found it.

  • Growth aligned platform & architecture transformation

  • Delivery capability uplift: engineering practices, CI/CD maturity

  • AI and agentic tooling adoption to accelerate development velocity

  • Technical debt remediation, turning drag into investable capacity

  • Knowledge transfer as a first-class deliverable, not an afterthought

  • Board-level technology progress reporting tied to milestones

HOW WE WORK

Embedded Principal Craftspeople

Senior engineers and architects working inside the portco team, not advisory, hands-on delivery

Milestone-based value reporting

Quarterly board packs showing technology progress against the value creation plan in commercial terms

AI-accelerated delivery

Agentic coding and AI-first SDLC practices embedded to accelerate engineering output materially

Anti-dependency by design

Built-in knowledge transfer so internal teams own the capability when we leave, no reliance on Codurance to sustain delivery

DELIVERABLES

Cross-domain RAG heatmap

Board-level risk visualisation across all six control domains, refreshed quarterly, with financial exposure estimates

12-month readiness roadmap

Sequenced remediation priorities with accountable owners and milestone tracking through to exit

Board-ready risk pack

Quarterly reissued board pack demonstrating measurable movement in risk posture, defensible under buyer scrutiny

Formal exit readiness statement

Confirmed, defensible technology narrative. The portco enters formal due diligence in control, not in explanation mode

PRE-EXIT· STAGE 04

Exit Readiness

Technical risk discovered for the first time in the data room triggers discounts, delays, and management distraction at exactly the wrong moment. Our Exit Readiness programme runs 12–18 months before anticipated exit, surfacing and remediating risk in a controlled way, so that by the time the buyer arrives, the technology narrative is defensible and the data room is clean.

We deliver a board-ready technical control position: a cross-domain RAG heatmap, a 12-month remediation roadmap, quarterly risk refresh cycles, and a formal exit readiness statement your board can stand behind. Full codebase and infrastructure assessment with unrestricted access

  • Six-domain assessment: product advantage, architecture, debt, data and AI, resilience, security

  • Cross-domain RAG heatmap with financial exposure estimates

  • Quarterly Value Acceleration reviews to track remediation and refresh board reporting

  • Buyer-lens stress testing and data room readiness confirmation

  • Formal exit readiness statement, defensible under Big 4 TechDD

PRE-EXIT· STAGE 04

Exit Readiness

Technical risk discovered for the first time in the data room triggers discounts, delays, and management distraction at exactly the wrong moment. Our Exit Readiness programme runs 12–18 months before anticipated exit, surfacing and remediating risk in a controlled way, so that by the time the buyer arrives, the technology narrative is defensible and the data room is clean.

We deliver a board-ready technical control position: a cross-domain RAG heatmap, a 12-month remediation roadmap, quarterly risk refresh cycles, and a formal exit readiness statement your board can stand behind. Full codebase and infrastructure assessment with unrestricted access

  • Six-domain assessment: product advantage, architecture, debt, data and AI, resilience, security

  • Cross-domain RAG heatmap with financial exposure estimates

  • Quarterly Value Acceleration reviews to track remediation and refresh board reporting

  • Buyer-lens stress testing and data room readiness confirmation

  • Formal exit readiness statement, defensible under Big 4 TechDD

DELIVERABLES

Cross-domain RAG heatmap

Board-level risk visualisation across all six control domains, refreshed quarterly, with financial exposure estimates

12-month readiness roadmap

Sequenced remediation priorities with accountable owners and milestone tracking through to exit

Board-ready risk pack

Quarterly reissued board pack demonstrating measurable movement in risk posture, defensible under buyer scrutiny

Formal exit readiness statement

Confirmed, defensible technology narrative. The portco enters formal due diligence in control, not in explanation mode

Improved technology delivering higher returns

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of acquisitions surface tech issues in the first 90 days
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more likely to achieve deal success with tech due diligence
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of acquisitions delayed by 6 months due to undiscovered risk
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returns target value creation built around your investment thesis

WHO WE WORK WITH

Built for PE firms who take technology seriously

We work with deal teams, operating partners, and value creation leads across the full spectrum of PE from growth equity to buyout. If technology is material to the investment thesis, we can help

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1_Who we work with_Operating Partners

Operating Partners & Value Creation Teams



2_Who we work with_deal teams

Deal Teams & Investment Committees



3_Who we work with_Portfolio

Portfolio Company Boards
& CTOs



4_Who we work with_Growth Equity

Growth Equity & Venture



5_Who we work with_Mid-Market Buyout

Mid-Market Buyout



6_Who we work with_Large cap

Large-Cap & Corporate PE



FAQs

If you can’t find the answer you are looking for here, please contact us

 

What does Codurance offer for private equity firms?
We provide technical and AI due diligence, value creation delivery, and exit readiness services for private equity firms and their portfolio companies across the full investment lifecycle.
What are the four stages of Codurance’s private equity engagement lifecycle?
Our private equity engagement lifecycle covers four stages: Technical & AI Due Diligence (pre-acquisition), First 100 Days Deep Dive (post-close), Value Creation Roadmap (hold period), and Exit Readiness (pre-exit). 
What is Exit Readiness and when does it start?
Exit Readiness is our pre-exit programme, typically beginning 12 to 18 months before a planned sale. We identify and address technology risks so the data room, operating model, and technology narrative are ready for buyer due diligence. 
Who typically works with Codurance?
We work with deal teams, operating partners, value creation leads, portfolio company boards, and CTOs across growth equity, mid-market buyout, and large-cap private equity. 
How does Codurance avoid creating long-term dependency?
Our delivery model is built around “anti-dependency by design”, with knowledge transfer embedded throughout the engagement so internal teams own the capability once our work ends. 
What experience does Codurance have in private equity?
We have assessed or delivered work for more than 50 PE-backed technology businesses and worked with over 15 private equity firms. Across our engagements, deals involving technical due diligence have been 2.8 times more likely to succeed, while 85% of acquisitions have uncovered technology issues within the first 90 days. 

Other ways we can help

ACCELERATOR

Technical & AI Due Diligence

Get clear, in-depth and independent expert analysis of bespoke software products, people and processes to inform your investment decisions during M&A

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ACCELERATOR

Data and AI Readiness Assessment

Get clear, in-depth and independent expert analysis and recommendations to evolve your data strategy and jumpstart your adoption of AI technologies

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ACCELERATOR

Software Quality Assessment

Clear, in-depth assessment of your bespoke strategic software covering code quality, complexity, security risks, and a practical remediation plan.

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Ready to talk about your portfolio's technology?

Whether you're assessing a target, 100 days into a new hold, or 12 months from an anticipated exit, we can help. Most conversations start with a 30-minute call to understand the situation and confirm whether we are the right fit.