Project Heron
Sell-Side Advisory · Engagement opened January 14, 2026 · Estimated close Q4 2026
Engagement Stage
Diligence
Phase 3 of 5 · Buyer evaluation
Days to Target Close
142days
Target: Sept 28, 2026
Active Buyers
7
3 IOI received · 1 LOI under review
Open Items
4
Information requests pending
Engagement Progress
62%
Recent Activity
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LOI received from Buyer #4 (Sponsor-backed strategic). Forwarded to counsel for review.2h ago
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Sarah Lin uploaded 2026 Q1 management financials.Yesterday
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New information request: Customer concentration analysis — due Friday.2 days ago
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Buyer #2 declined to submit IOI after CIM review.4 days ago
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Management presentation completed with Buyer #3.1 week ago
Open Information Requests
Customer concentration analysis (top 20)
Due Friday · Buyer #4 LOI request
2025 audited financials (final)
Due Monday · Diligence package
Key employee retention plan summary
Due Wednesday · Diligence package
Updated A/R aging detail
Due next week · Working capital peg
Process Timeline
Five-phase sell-side workflow with detailed milestone tracking through close.
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✓Phase 1 — Engagement & PreparationEngagement letter executed. Initial valuation, deal team alignment, and CIM development kickoff.
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✓Phase 2 — Materials & Buyer UniverseCIM finalized, financial model built, buyer universe vetted, teaser distributed.
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●Phase 3 — Diligence & Buyer EvaluationActive management presentations, data room population, IOI/LOI evaluation. 3 IOIs received, 1 LOI under counsel review.
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4Phase 4 — Negotiation & LOI SelectionFinal round bidding, LOI negotiation, exclusivity, and selected buyer engagement.
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5Phase 5 — Definitive Agreement & CloseConfirmatory diligence, purchase agreement negotiation, working capital peg, and signing/closing.
Document Repository
All shared materials between client, advisor, counsel, and qualified buyers. Watermarked, audit-logged, and access-controlled.
| Document | Folder | Updated | Status | |
|---|---|---|---|---|
|
Project Heron — Confidential Information Memorandum (v3)
Marketing Materials
|
Marketing | Mar 12, 2026 | ● Shared | Open → |
|
Financial Model — Base Case (v2.1)
Financial Materials
|
Financial | Apr 02, 2026 | ● Shared | Open → |
|
2026 Q1 Management Reporting Package
Financial Materials
|
Financial | 2 days ago | ● Shared | Open → |
|
Letter of Intent — Buyer #4 (Sponsor-Backed Strategic)
Transaction Documents
|
Transaction | 2 hours ago | ● Under Review | Open → |
|
Process Letter — Round 1 IOI Solicitation
Process Documents
|
Process | Feb 24, 2026 | ● Shared | Open → |
|
Customer Concentration Analysis (Top 20)
Diligence
|
Diligence | — | ● Requested | Upload → |
|
Mutual NDA Template (Final)
Legal
|
Legal | Jan 22, 2026 | ● Shared | Open → |
Secure File Drop
All uploads encrypted in transit and at rest. Files watermarked, audit-logged, and accessible only to authorized engagement participants.
Drop files here, or browse to upload
PDF, Excel, Word, CSV, images. Up to 200MB per file.
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2025_Q4_Bank_Statements.pdfDiligence · Financial3.2 MB● Uploaded
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AR_Aging_April_2026.xlsxWorking Capital847 KB● Uploaded
Diligence Requests
All open and historical information requests from buyers, counsel, and the engagement team.
Open Requests · 4
Customer concentration analysis (top 20)
Due Friday · Requested by Buyer #4 LOI
2025 audited financials (final)
Due Monday · Diligence package · GFA Internal
Key employee retention plan summary
Due Wednesday · Diligence package
Updated A/R aging detail
Due next week · Working capital peg
Completed Requests · 18
Top 10 customer revenue history (3-year)
Submitted April 2 · Buyer #4
Management organizational chart
Submitted March 28 · Buyer #3
Insurance certificate package
Submitted March 22 · Counsel
Engagement Team
All advisors, counsel, and engagement participants assigned to Project Heron.
Growth Fuel Advisors
Michael Wesa
Founder · Lead Principal
SL
Sarah Lin
Vice President · Engagement
JR
James Reeves
Associate · Financial Analysis
Counsel & Tax
DK
Daniel Kovac
Lead Counsel · M&A
RP
Rebecca Park
Tax Advisor
Activity Log
Complete audit trail of all actions on this engagement. Filterable by user, date, and action type.
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LOI received from Buyer #4 (Sponsor-backed strategic). Document uploaded to Transaction Documents folder. Notifications sent to Michael Wesa, Daniel Kovac.Today · 2:14 PM
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Sarah Lin uploaded 2026 Q1 Management Reporting Package. Shared with engagement team.Yesterday · 4:22 PM
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New information request created: Customer concentration analysis (top 20). Due Friday. Assigned to client team.2 days ago · 11:08 AM
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James Reeves updated Financial Model — Base Case to v2.1. Change log attached.3 days ago · 9:34 AM
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Buyer #2 declined to submit IOI after CIM review. Removed from active buyer list.4 days ago · 3:47 PM
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Management presentation completed with Buyer #3. Follow-up diligence list received.1 week ago
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Michael Wesa approved CIM v3 for distribution.2 weeks ago
Engagement Reports
Weekly status summaries, buyer activity reports, and process intelligence delivered to ownership.