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. 

    Our investment partners and Portco clients include

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    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
    Codurance provided us with a clear, structured and highly insightful assessment of AI risk and opportunity across our portfolio. In a short timeframe, they delivered a comprehensive analysis that helped us better understand where AI presents defensibility, growth potential and competitive risk. The segmentation and executive summary made it easy to translate insight into strategic conversations with our portfolio leadership teams. Their independent perspective and technical depth brought real clarity to a fast-moving topic, and the work has strengthened our approach to AI across the fund.

    Steve Harrison

    Partner - YFM Equity Partners

    The Codurance team understood our business well and brought a fresh, innovative approach to our data management and forecasting process. The team demonstrated expertise across both data engineering and software development, to provide us with a comprehensive solution to our challenges. They worked iteratively, collaborating closely with colleagues across IWSR and at board level to understand our priorities and strategic direction. Codurance delivered their work to a very high standard, demonstrating progress throughout the project while expertly dealing with risks and issues as they arose. It was a pleasure to work with Codurance on this project.

    David Green

    CTO - IWSR

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

    Jonathan Morris

    CTO - Residence, Private Equity

    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

    Exit readiness engagement - Recently exited PE-backed B2B technology business

    The collaboration with Codurance helped us lay the technical and engineering foundations to scale our corporate tax application. Their approach was pragmatic, collaborative and aligned to our business goals. Together, we created a platform that supports the future of our business.

    Neil Robbins

    CTO - Alphatax

    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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    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

    Service_PE_image_5
    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

    Learn more
    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

    Exit Readiness Service

    Get clear, independent expert analysis and recommendations to surface and mitigate technical risks in your PE-backed business early, avoiding devaluation and credibility problems at exit.

    Learn more

    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.