Cordis Institute working papers
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Documents the share of post-LOI adjustments that exceed 15% of LOI value (73%) and other preparation-side empirics on lower-middle-market transactions. Source of the Preparation Gap headline number on Foundry's dashboard.
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Five buyer archetypes, underwriting model divergence, and post-LOI compression by archetype. Source of the sector-misalignment ranking on Foundry.
Third-party publications
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The primary public dataset on lower-middle-market closed-transaction multiples. Source of Foundry's median LMM closing multiple and diligence-window numbers.
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Annual midyear read of private-equity activity, including the share of buyouts that are add-ons rather than platforms. Source of Foundry's PE add-on dominance number. LMM-specific add-on share corroborated by CapitalPad 2026.
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Empirical study of deal terms across LMM transactions, covering escrow prevalence, indemnification structures, NWC patterns, and survival periods. Source of Foundry's deals-with-escrow number and the diligence-window corroboration.
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Sector-level read of private-equity activity, with attention to diligence-finding frequency patterns. Cited in Foundry's Power Ranking of common diligence findings.
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The reference survey of private-capital pricing and access across LMM segments. Anchors comp ranges and discount-rate context throughout Foundry's framework material.
How Foundry uses these sources
Each headline number on Foundry's dashboard is anchored to one or more of these publications, named in the dashboard footer. Power Rankings compile categories named in cross-source consensus; specific frequency percentages are not asserted unless the underlying publication asserts them. Deal Notes are anonymized composites sized to the published LMM band documented in GF Data H1 2025.
Foundry does not produce business valuations. Citing third-party valuation literature in this list is not the same as Foundry producing a valuation; Foundry's role is synthesis and reference.
The next data refresh is scheduled for Q3 2026, when GF Data's H2 2025 release and the next SRS Acquiom study are expected to publish. Trend deltas will appear on the dashboard at that point.