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TrueValue

M&A software for business buyers and advisers

Run the entire deal from one workspace.

Source opportunities, value businesses, structure transactions, manage the pipeline and execute documents — without stitching together five different systems.

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Find. Adverts and register companies judged against your mandate.

SourceUK B2B software, £2–6M EV
Sample data

Project Northgate

Opportunities

£2m – £6m EV · £400k – £1.5m EBITDA · North West

5 shown

  • Established B2B SaaS workflow platform

    Manchester · Asking £4.25m · EBITDA £780k

    Strong fit

  • Business software developer

    Stockport · Filed turnover £3.15m

    Good fit

  • IT managed services provider with 60+ contracted clients

    Leeds · Asking £3.1m · EBITDA £610k

    Near mandate

  • Cloud software business with 90% recurring revenue

    Bristol · Asking £5.6m · EBITDA £1.05m

    Near mandate

  • Precision engineering and CNC machining

    Sheffield · Asking £3.8m · EBITDA £640k

    Outside mandate
Deal created · Project NorthgateThe advert, its figures and its fit travel with it

Sample deal built on an advert from the demo workspace. Its fit, value and price ceiling come from TrueValue's own engines. Condensed: a real deal takes weeks between these steps.

Judge the product, not the pitch.

  • 01Real product

    The demo is the real interface

    Open the demo without an account: the product's own screens on a sample workspace, in your browser. No form, no call, no card.

    Open the demo workspace

  • 02Computed, not generated

    Engines do the arithmetic

    Valuations and returns come from versioned, tested calculation engines. The AI writes commentary and cannot change a figure.

    Value a business on the engine

  • 03Traceable figures

    Figures labelled by source

    A figure read from filed accounts, one a seller stated and a projection are labelled differently. A line the accounts do not state is shown as missing, never filled in.

    How the valuation is built

  • 04Workspace security

    Deal data, handled like deal data

    Encryption in transit and at rest, each workspace kept apart in the database itself, and changes to core deal records logged by database triggers.

    Read the security statement

One record

One deal. One record. Every stage.

The mandate that found the business, its valuation, its structure, its place in the pipeline and its signed NDA sit on the same deal. The valuation reads the accounts, the returns read the valuation, and the committee memo cites both.

DealsProject Northgate
Sample data

Project Northgate

B2B workflow software · Manchester, North West

Deal record

Mandate fit
Strong fit100% fit · 5 of 5 criteria read against the mandate
Valuation range
£2.97m–£4.93mMidpoint £3.95m
Most you could pay
£3.16mCash cover binds
Stage and next action
In DialogueNext: Add the accounts or the CIM
NDA
SignedMutual · England and Wales
Asking price
£4.25m
Revenue
£2.4m
EBITDA
£780k
Stated in advert

SampleSample deal built on an advert from the demo workspace. Each value on the record is the one its section computes further down this page.

01Find

Tell TrueValue what you want to buy.

Write the mandate as numbers: size, sector, region and the returns you need. Adverts from UK business-for-sale marketplaces and broker websites, and companies on the Companies House register are then judged on size, sector and region by fixed rules, each with its reason.

The mandate

Active

UK B2B software, £2m – £6m EV

Figures in GBP – British pound

£2m – £6m

The followed advert asks £4.25m.

£400k

The followed advert states EBITDA of £780k.

6 of 11 match the mandateSee them

Also on this mandate

Sector
Technology and software
Region
North West
EBITDA
Up to £1.5m
Revenue
£1.5m – £8m

Rules every result is held to

  1. A figure an advert does not state stays unknown. It is never a pass and never a fail.
  2. A sector miss is outside the mandate, whatever the price.
  3. Figures in two stated currencies are never compared.
SourceUK B2B software, £2m – £6m EV
Sample data

6 of 11 match the mandate

Mandate lens v1.9.0

  • Strong fit1
  • Good fit1
  • Near mandate4
  • Needs evidence1
  • Outside mandate4

Best fit first

  • Followed through this page as Project Northgate

    Continue to Assess

    Criterion by criterionEvery criterion the mandate states was read, and the business fits on all of them.

    • Match: Asking price £4.3m fits your £2.0m–£6.0m
    • Match: EBITDA £780k fits your £400k–£1.5m
    • Match: Turnover £2.4m fits your £1.5m–£8.0m
    • Match: Sector: The category words "software" (Software & IT services) — within Software & IT services.
    • Match: Region "North West, Manchester" is within North West

SampleSample adverts from the demo workspace and two sample register companies, all fictional, scored in your browser by TrueValue's mandate engine. The adverts are fictional; a real workspace reads live UK sources on a rolling schedule.

How to build an acquisition mandate

02Assess

Understand what the business is worth — and why.

The valuation engine runs up to five methods, weights them for the sector and the size of the business, and shows the range and the weights. The AI writes the commentary; it cannot change a figure.

The business

Change a figure and the engine values the business again, in your browser.

£780k

The advert states £780k. Revenue moves with it at the advert's margin.

5%

Not stated in the advert: 5% is an assumption.

At this size the EBITDA multiple is held by the engine's size cap, so the sector changes less than you might expect.

Valuation range

£2.97m–£4.93m

See how it is built
Project NorthgateValuation
Sample data

Valuation

B2B workflow software · Manchester

  1. Stated figures

    • Revenue

      £2.4m

      Stated in advert

    • EBITDA

      £780k

      Stated in advert

    • Recurring revenue

      81%

      Stated in advert

    • Revenue growth

      5% a year

      Assumption

    Not stated in the advert

    • Net profit
    • D&A
    • Balance sheet
    • Net debt
    • Customer concentration
    • Owner dependency
    • Owner's pay
    • Financial documents

    The engine counts what it was not given. The fewer figures it has, the wider the range.

  2. Adjustments

    Sector base multipleTechnology
    12.0x
    CountryUnited Kingdom
    ×0.950
    SizeRevenue £2.4m
    ×1.016
    Growth5% a year
    ×0.850
    Recurring revenue81% of revenue
    ×1.122
    Adjusted multiple
    11.04x
    Size cap at £780k EBITDA
    4.60x
    Multiple applied
    4.60x
    Held by the size cap

  3. Methods

    • Discounted cash flow

      £4.52m

      50%

      Five years of cash flow at a 15.0% discount rate; tax on EBIT.

    • EBITDA multiple

      £3.58m

      40%

      4.60x EBITDA, held by the size cap.

    • Seller's discretionary earnings

      £2.56m

      10%

      3.28x the owner-managed earnings.

    • Net asset value

      —

      0%

      Not used: the sample states no balance sheet.

    • Comparable transactions

      —

      0%

      Not used: it needs three recorded deals in the sector and size band.

    Weights set for the sector and the size of the business. Those used sum to 100%.

  4. Range

    Valuation range

    £2.97m–£4.93m

    Midpoint £3.95m5.06x EBITDA

    Asking price inside the range

    The asking price, £4.25m, is 7.6% above the midpoint, at 5.45x EBITDA.

    The midpoint, by method

    DCF
    £2.26m
    EBITDA multiple
    £1.44m
    SDE
    £250k

    ±24.7% either side of the midpoint, set by the engine's confidence in the figures.

    Valuation engine v2.0.0Dataset 2026.07

SampleSample business valued in your browser by TrueValue's valuation engine on the advert's figures and an assumed growth rate. Illustrative: a valuation is an estimate, not an offer.

Inside the valuation

03Structure

Model the deal, not just the price.

Set the price and the funding mix. The deal model returns the IRR, the money multiple and the cash cover, then solves backwards for the most this structure can pay at your hurdles and names the hurdle that stops it.

£4.25m

Asking £4.25m · valued at £2.97m–£4.93m

30%
15%
5%

Bank debt

50%·£2.13m

2.72x EBITDAAbove 2.5x

Bank debt is the balance of the price.

Project NorthgateStructure
Sample data

Deal economics

Engine v2.1.0
Does not clear every hurdle

Returns at £4.25m

Hurdles from the mandate

IRR

22.2%Below

Hurdle 25%

Multiple

2.61xClears

Hurdle 2.50x

Cash cover

0.93xBelow

Hurdle 1.25x

Funding stack

Price £4.25m

Sources

Equity

30%£1,275,000

Bank debt

50%£2,125,000
2.72x EBITDA

Seller finance

15%£637,500

Deferred consideration

5%£212,500

Equity for fees

£259,250
Fees are funded by equity, never by debt.

Total

£4,509,250

Uses

Price

£4,250,000

Transaction fees

6.1%£259,250
Legal, diligence, broker and loan fees, on the default schedule.

Total

£4,509,250

Equity cheque

£1,534,250

Your equity in the price, plus the fees.

Most this structure can pay at your hurdles

£3,159,034

Limited by cash cover

Your price is £1.09m above it.

Price against value

Your price £4.25m. Asking price £4.25m. Ceiling £3.16m. Valuation range £2.97m to £4.93m.

Valuation range £2.97m–£4.93m · from the valuation

AssumptionsEBITDA growth 5% a year · 5-year hold · exit at 5.0x EBITDA · tax 25% · capex 10% of EBITDA · bank debt 8% over 6 years · seller finance 6% over 5 years · deferred paid over 3 years · fees on the default schedule

  • Deferred consideration is paid from cash flow over three years. In the product, an earn-out carries its own metric, cap and attainment assumption.
  • Cash cover is the lowest year's cash available for debt service over the debt service due. Deferred payments sit outside it.
  • Senior debt above the default 2.5x EBITDA ceiling is flagged. It is reported, never capped.

SampleIllustrative sample deal, computed in your browser by TrueValue's deal-economics engine. The model states its assumptions, promises no return and consults no lender.

How to structure a business acquisition

04Manage

Your pipeline understands the deal.

Each deal carries its valuation, its diligence, its documents and, for a buyer, the most you could pay. The pipeline shows where every deal stands; open one and it names the next action and what it rests on.

Buyer mode: 10 stages. The board runs one vocabulary at a time.

DealsPipeline
Sample data

Acquisition Pipeline

Select a deal to open its record.

Active Targets

6

Pipeline

£48.45m

Weighted

£12.84m

Sourced1

£70k weighted

In Dialogue2

£963k weighted

NDA Signed0

No deals

IM Review1

£780k weighted

Indicative Offer0

No deals

LOI / HoTS1

£3.83m weighted

Due Diligence1

£7.2m weighted

SPA & Funding0

No deals

Project Northgate

In Dialogue

B2B workflow software · ManchesterTechnologyOn mandate

Expected value£4.25m

Probability5%

Expected closeIn 150 days

Asking price

£4.25m

Stated

Revenue

—

No accounts read yet

EBITDA

—

No accounts read yet

Valuation

£2.97m–£4.93m

Mid £3.95m

Most you could pay

£3.16m

Cash cover binds

Recommended next step

Add the accounts or the CIM

Because: Drop the filed accounts, a CIM or management information into Received Docs.

Activity

  • Stage changed from Sourced to In Dialogue

From accounts to IC

2 of 7 stages
  1. 1. Accounts receivedDrop the filed accounts, a CIM or management information into Received Docs.
  2. 2. Figures extractedRuns by itself as documents land.
  3. 3. Statements builtNo period could be built: extracts need a reporting period end to be placed.
  4. 4. ValuationLinked, on EBITDA £780,000.
  5. 5. Max price at hurdleCeiling £3,159,034 at the hurdles.
  6. 6. Red flags pricedNo diligence checklist yet — red flags with a value impact come off the ceiling.
  7. 7. IC memoThe fact pack is complete enough to head a memo.

Tasks

  • Send the NDA to the seller's brokerToday
  • Request the last three years of filed accountsTomorrow
  • Book a call with the founderThis week

Contacts

  • Founder and majority shareholderSeller
  • Sell-side brokerSeller's adviser
  • Acquisition lenderFunding

How the board behaves

  1. Column totals are weighted: each deal's value times its probability.
  2. Moving a deal updates its probability to the stage's default and logs the move on the deal. Dragging a deal to a closed stage asks you to confirm first.

SampleSample pipeline from the demo workspace. The next action and the intake plan are the product's own engines' output for this deal.

M&A deal management

05Execute

Documents that stay with the deal.

Draft an NDA on the deal or upload your own PDF, place signing blocks, route it and follow each recipient from sent to signed. The executed copy and its certificate of completion are filed with the envelope, on the deal.

Envelope
Mutual NDA — Project Northgate
Order
Everyone at once
Identity check
The emailed link
Project NorthgateDocuments
Sample data

SampleSample envelope. The statuses and events are the product's own vocabulary; nothing is sent from this page.

E-signatures on the deal

What the ticks mean

  1. Viewed means the recipient opened the signing page; email opens are not tracked. Delivered is ticked only when the mail provider reports it.
  2. Recipients sign from a link, with no account, after consenting to sign electronically.

Data rooms

Data rooms on the same deal share only what you choose.

  • Access by folder or file

    Grant a whole room, chosen folders or single files, to view only or to download.

  • Passwords and expiry

    An optional password and an expiry on each person's access.

  • Watermarked PDFs

    With watermarking on, each PDF is stamped with the viewer's address as it is served.

  • Every view and download

    Views and downloads are recorded against the person who made them.

One workspace

One workspace instead of a patchwork of tools.

A CRM that does not know the valuation. A spreadsheet that does not know the pipeline. A data room and an e-signature tool that do not know the deal. Each one asks for the same figures again.

Before: a tool for each job, each keyed by hand.

  • CRM
  • Sourcing
  • Valuation
  • Financial modelling
  • Data room
  • E-signatures
  • Deal management
DealsProject Northgate
Sample data

Project Northgate

B2B workflow software · Manchester

Stated once
Asking
£4.25m
Revenue
£2.4m
EBITDA
£780k
  • CRM3 contactsContacts
  • SourcingStrong fitQualify
  • Valuation£2.97m – £4.93mValuation
  • Financial modellingMost you could pay £3.16mStructure
  • Data roomReceived DocsDocuments
  • E-signaturesCompletedDocuments
  • Deal managementIn DialogueOverview

SampleSample deal. Each row is a part of TrueValue reading the same record; the figures are the ones the sections above compute.

What changes

  • One record per deal

    Mandate fit, valuation, structure, diligence and documents on the same deal.

  • Figures read once

    Accounts are read into statements once; the valuation, the returns and the memo use them.

  • Documents where the deal is

    Signed agreements and their certificates are filed on the deal, not in an inbox.

  • One permission model

    One workspace and one set of roles for your team, from the first advert to the signed agreement.

Optional · TrueValue Agent

An assistant that works the deal between your sessions.

It reads what lands on your deals, checks figures against your own records and proposes the next step with the evidence attached. By default, anything that leaves the workspace waits for your click.

  • Each proposal and question cites the records it read.
  • A figure with no source in your records is refused, not repaired.
  • Most internal actions can be undone. Anything sent outside the workspace waits for your approval unless you choose otherwise.

Optional upgrade: +£299/month per workspace. Not included in Core.

Added at checkout or later from your account, and switched on by a workspace owner or admin.

How the Agent works

Overnight. What it did between your sessions, and what waits for you.

Project NorthgateAgent
Sample data

Overnight: 3 findings, 1 action, 2 need you

  • Added a task: request the last three years of filed accounts

    Plan the work · Do it and tell me

    Done

  • Walk-away condition fired

    Risk · Minimum DSCR falls below 1.25x

    Flagged

  • Ask the seller's broker for the accounts and the customer list

    Send email · Ask first

    Proposed

  • Make an indicative offer on the advert's figures now, or wait for the filed accounts?

    Question

    Asked

SampleA sample morning on the sample deal. The action classes, autonomy levels and boundaries are the runtime's own; nothing on this page runs.

Pricing

Core from £99/month.

The whole platform for your first user, and team members from £49–£79 a month each. The Agent is an optional addition, priced per workspace.

Core

£99 per month,
first user

Everything on this page except the Agent, for one user. Add team members as you need them.

What Core covers

  • Deal workspace and pipeline
  • Multi-method valuations and financial statements
  • Deal analysis, economics and returns
  • Deal structuring and offer documents
  • Due diligence request lists, red flags and evidence
  • Documents, data rooms and e-signatures
  • Sourcing: mandates, market listings and target discovery
Start using TrueValueExplore a sample deal

Your team

  • User 1£99/month
  • Users 2–5+£79/month each
  • Users 6–10+£59/month each
  • Users 11–20+£49/month each
  • 21+Contact Sales

The lower rates apply to the additional users inside each band, not to every seat.

+£299/month per workspace
Users × 1
£99
TrueValue Agent
Not added
Per month£99

Or £990 a year, billed annually: 2 months free.

Start with this team

Agent

Optional

TrueValue Agent

+£299 per month,
per workspace

Works your deals between your sessions and brings proposals with the evidence. Per workspace, never per user. Not included in Core.

What the Agent does

How buying works

  1. Money-back guarantee

    Subscribe today. If TrueValue isn't right for you, request a refund within 14 days of your first payment under our money-back guarantee. The terms

  2. Payment from the first day

    Your subscription starts when you check out. The guarantee takes the place of a trial.

  3. The demo first

    The demo workspace needs no account. Open the demo workspace

Bring your next deal into TrueValue.

Start with one opportunity and manage it from first review through execution in one workspace.

Start using TrueValueExplore a sample deal

From £99/month · 14-day money-back guarantee

Not ready yet? The demo workspace opens without an account.

Explore the platform

TrueValue is M&A software for business buyers, search funds, private equity, corporate development teams and M&A advisers. Each entry below opens a page of its own.

Find and assess

Structure and manage

  • Deal management

    The pipeline, the tasks and the record of every deal.

  • M&A CRM

    Contacts, counterparties and conversations, on the deal.

  • Due diligence

    Request lists the seller answers, and the evidence they send.

  • Structuring a deal

    Consideration, funding and risk, decided together.

Execute

For your role

Learn