Over a two-week period, our team delivered a structured commercial due diligence by adapting our standard frameworks to both the investor’s and the target’s context. We drew on management and expert interviews with senior leadership at the target and over a dozen food technology and bioreactor specialists, conducted data room analysis (reviewing forecasts, pipelines, and cost structures), and combined proprietary knowledge with public data sources for a thorough market research. In parallel, we closely collaborated with the client’s deal team to address evolving needs. Our analysis focused on four main parts:

1. Market validation
• Comprehensive sizing of the bioreactor market across Europe and North America, segmented by industry, scale, and customer group.
• Identification of demand drivers in food technology such as the rise of alternative proteins, novel fermentation methods, and contract manufacturing needs for scaling startups.


2. Competitive differentiation
• Uncovering bioreactor Key Purchasing Criteria (KPC) in food technology and determining their importance across different scale levels and customer segments and identified regional nuances.
• Benchmarking the target against established industry players and emerging competitors across the established KPC in terms of relative performance.

3. Expansion assessment
• Appraisal of the target’s “go-to-market” plan, including revenue projections, hiring strategy, compliance requirements, and local presence needs.
• Validation of top-line assumptions and margin expectations using a bottom-up approach, identifying potential gaps in both execution and budget planning.