Mohamed El Kamel

• • Runs buy- and sell-side FDD across Technology, Financial Services and Consumer sectors; leads deal teams of 2–3 in direct

dialogue with PE sponsors, target management and legal counsel, from kick-off through SPA negotiation

• • BlueGem / Béaba Group (sell-side VDD, ongoing): Running exit VDD on BlueGem Capital Partners' disposal of Béaba

Group (∼€50m revenue, French baby products platform incl. Childhome add-on); building the normalised earnings narrative to

underpin exit positioning

• • Ardian / Netco Group (sell-side VDD): VDD on Ardian's disposal to Eurazeo of pan-European industrial maintenance

platform (100+ agencies, ∼1,400 staff, 7 countries); leading all financial workstreams to underpin valuation through a multi

jurisdiction process

• • BEA Group / PIB (buy-side, build-up): Diligence on two independent French insurance brokers (BSH Courtage, Ascow) acquired in parallel; assessed standalone earnings quality and integration upside to support PIB's platform roll-up thesis in French specialty brokerage

• • PE fund / SaaS platform (buy-side, attempted): Assessed sustainability of ARR and revenue retention dynamics to challenge growth assumptions and isolate structural performance from accounting-driven uplift

• • Ran full-scope FDD across Technology, Telecoms, Logistics, Infrastructure and Renewables; built automated price/volume/mix engines over multi-million-line transactional datasets to test commercial narrative against underlying data; supported SPA negotiation on locked box and completion account mechanics, with adjustments covering IFRS 16/9, factoring unwind, FX translational and transactional effects, and deferred revenue

• • Advent International / PAI Partners, Idemia Group (∼$3bn revenue, sell-side carve-out): Built standalone economics of three sequentially disposed business units: Smart Identity (€850m, sold to IN Groupe) and Public Security (up to €3.4bn, ongoing), isolating inter-company flows, pricing cooperation agreements and stress-testing standalone cost base to inform

separation pricing; among the most complex technology carve-outs executed in France in recent years

• • CMA CGM, Ingram Micro CLS ($3bn EV, buy-side): Deconstructed $1.7bn revenue base by client cohort, geography and channel (59 warehouses, US / global) to pressure-test customer concentration and underlying earnings quality; QoE findings fed directly into the investment committee's valuation view

• • Axian, 4 pan-African telecoms mandates (buy-side): Acquisitions in Tanzania (∼$100m, closed), Senegal (closed) and two attempted mandates in North and West Africa; led carve-out standalone economics alongside Forensic to quantify stranded costs and TSA exposure across multi-operator separation structures in frontier markets

• • Holcim, Africa, sell-side: QoE and working capital across three cement businesses (Uganda ∼$120m, Tanzania, Kenya) under a single multi-jurisdiction mandate; reconstructed earnings quality from local reporting with limited comparability to support the seller's pricing narrative

VDD across buy- and sell-side mandates, covering P&L and balance sheet analysis. Preparing business overviews and other several sections in the report.