For Investment Committees, Operating Partners & M&A Teams
Banker-led defence auctions trade at 14x to 18x EBITDA and routinely dress up one-off surge orders or sunsetting platforms as recurring backlog. We help investment teams source proprietary certified roll-up targets bilaterally and verify true program run-rates, certification moats and upstream forge dependencies before signing an LOI.
Independent program, backlog and customer-concentration check before exclusivity
Source bilateral certified tuck-in targets outside banker auction processes
Cross-check AS9100, Nadcap, controlled-goods and prime-approval claims
Separate multi-year funded platforms from expiring lot orders
Pre-LOI Diligence & Target Screen Scope
Share the target thesis, sub-sector or live CIM timeline. A 15Rock partner will reply with a confidential scope note.
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Strict deal-team confidentiality. Most pre-LOI screens start entirely from public records or a redacted teaser under NDA.
Prefer direct email or a mutual NDA first? Email hello@15rock.com
The outcomes we enable
We do not sell generic industry overviews or software seats. Every engagement delivers the verified evidence, cost models and company shortlists needed to execute.
Outcome 01 · Proprietary Deal Flow
We map founder-owned and corporate-carve-out shops holding scarce Nadcap, AS9100 and controlled-goods approvals across North America and allied Europe so your platform can approach them bilaterally.
Delivered artifact
Ranked proprietary acquisition shortlist with certification, capability and ownership data.
Outcome 02 · Pre-LOI Red-Flag Protection
Before paying for full accounting and legal diligence, we reconcile the seller's CIM against funded procurement budgets, actual prime build rates and competing sub-tier capacity.
Delivered artifact
IC-ready pre-LOI red-flag memo and bottom-up addressable market reconciliation.
Outcome 03 · Post-Close Value Creation
Already own civilian precision manufacturing, testing or logistics holdings? We screen your portfolio companies against funded defence work packages to unlock higher-margin multiple expansion.
Delivered artifact
Portfolio-wide defence route evaluation matrix and management action plan.
Quantify the impact & inspect a sample
Adjust the slider below to model an illustrative scenario for your mandate, then inspect a sample table from the unlocked Excel workbook.
Interactive Outcome Value Model · Illustrative
Illustrative model: estimate entry valuation capital preserved by sourcing bilateral certified targets vs. auction processes.
Modeled entry enterprise value preserved (2.5x multiple delta)
$63M
Pre-LOI red-flag diligence turnaround before exclusivity
10 business days
Illustrative calculation comparing a 2.5x EBITDA multiple spread between bilateral off-market tuck-ins and broad banker auctions. Fictional scenario only.
| Seller CIM claim | CIM headlineIllustrative | Scoped findingAnalyst-checked | Evidence status | Investment committee implication |
|---|---|---|---|---|
| Addressable subsystem market | $4.8B | $3.1B | 35% outside target certifications | Underwrite base case to $3.1B serviceable scope |
| 5-year contracted backlog | $140M | $85M | $55M unexercised options | Treat unexercised lot options as upside, not contracted debt cover |
| Special-process moat | 12 approvals | 9 active | 3 Nadcap scopes due for audit | Verify renewal capex and quality headcount in data room |
| Bilateral add-on pipeline | 4 named shops | 19 screened | 15 additional off-market tuck-ins | Strong buy-and-build runway across adjacent machining shops |
| Fictional target and figures. Shows how pre-LOI commercial diligence separates funded backlog from unverified seller projections. | ||||
How the engagement works
01Your deal team + 15Rock
Confirm the target thesis, CIM claims to stress-test or roll-up certification criteria and IC date.
02AI research agents
Gather prime program schedules, contract awards, certification registries and competitor capacity data.
0315Rock analysts
Reconcile the seller's market and backlog claims, flag concentration traps and rank off-market tuck-in candidates.
04Your investment committee
Use the decision brief and unlocked Excel model to price the LOI or launch bilateral target outreach.
Pre-LOI Diligence & Target Screen Scope
Share the target thesis, sub-sector or live CIM timeline. A 15Rock partner will reply with a confidential scope note.
Loading inquiry form…
Strict deal-team confidentiality. Most pre-LOI screens start entirely from public records or a redacted teaser under NDA.
Prefer direct email or a mutual NDA first? Email hello@15rock.com
How to start
We can provide regular research updates after the first project.
Yes. That is the exact purpose of a pre-LOI sprint: we test the seller's headline market size, program run-rates, certification moat and sub-tier competitive landscape from public procurement records, registries and shipment data before you commit exclusivity.
We cross-reference quality certification registries (such as AS9100 and Nadcap), controlled-goods registrations, equipment permits and sub-tier award logs to identify privately held shops that match your platform's exact capability and size criteria.
We never train public models on client material, never disclose target names, and execute your fund's standard NDA before reviewing any teaser or CIM.
You receive an IC-ready written decision brief and an unlocked, source-linked Excel workbook containing the market model, backlog reconciliation or ranked target shortlist.
Other defence outcome programs
01 · Capital & Credit Underwriting
02 · Should-Cost & Fleet Readiness
03 · Offset & Tender Capture
05 · Commercial-to-Defence Entry
Discuss your defence scope
Request a 10-day pre-LOI red-flag diligence scope or proprietary target screen.