Ironside Research
Expert target assessments for investors and operators evaluating lower middle market manufacturers — before you enter the data room.
Founded by Douglas Backinger, VP of Sales with a Master of Engineering in Manufacturing from the University of Michigan and 15 years of industrial manufacturing experience across engineering, operations, and commercial leadership.
What We Do
Most acquisition research on manufacturers stops at the financials. We go further — assessing product mix risk, management depth, margin quality proxies, and buyer fit using direct manufacturing industry expertise that finance-only analysts can't replicate.
Each report is a 10–15 page assessment built entirely from public data. No NDAs. No seller cooperation required. Delivered before you spend a dollar on formal diligence.
The Process
Send us the company name and any context you have. No NDA or seller involvement required to get started.
We build a comprehensive public-data profile — LinkedIn, job postings, certifications, facility data, management tenure, and financial proxies.
Direct manufacturing industry expertise interprets what the data means — margin quality, product mix risk, operational health, and deal fit.
A 10–15 page assessment lands in your inbox within 5 business days. Formatted, sourced, and ready to share with your investors or board.
Report Contents
Every Ironside report follows a consistent, rigorous structure — so you always know exactly what you're getting and where to find it.
Deal attractiveness rating, revenue estimate, best buyer profile, key strengths, key risks, and preliminary deal thesis — all on one page.
Founded, headquarters, ownership, facilities, certifications, products and services, end markets served.
Sector context, competitive landscape, key differentiators, and moat assessment relative to comparable operators.
Hiring signals, facility expansion, capital investment, headcount trends, and job posting analysis — the signals a CIM doesn't surface.
Full leadership table with tenure signals, key-man identification, succession readiness, and workforce stability analysis.
Revenue confirmation, EBITDA proxies, and three-scenario preliminary valuation range using sector-appropriate multiples.
Color-coded risk table across 10 factors — customer concentration, owner dependence, market cyclicality, and more.
Why the asset is interesting, value creation levers, ideal buyer profile, what must be true for the deal to work, and recommended next steps.
Full methodology disclosure — every source cited, every estimate labeled. No black boxes.
Who We Serve
Ironside Research serves investors and operators evaluating lower middle market manufacturers in the $10M–$100M revenue range.
Actively searching for one business to acquire and operate. Use our reports to screen targets efficiently and prioritize diligence spend on the deals most worth pursuing.
Deal-by-deal buyers who need thorough pre-LOI intelligence to bring conviction to investors and lenders. Our reports give you a credible third-party view before you commit.
Tier 1/2 manufacturers evaluating bolt-on targets in adjacent sectors or geographies. We assess operational fit, capability overlap, and integration complexity before you approach the seller.
Pricing
Pay per report. No subscription, no minimum commitment. Every engagement is independent.
About
Ironside Research was founded by Douglas Backinger, a Michigan-based manufacturing executive with over 15 years of experience across process engineering, operations management, and commercial leadership in the industrial sector.
As VP of Sales at a Michigan manufacturer, Doug has spent his career understanding how manufacturers actually work — not just how they present themselves. That operational lens is what separates Ironside's research from generic financial analysis.
Get Started
Tell us about the target you're evaluating and we'll confirm scope, timeline, and pricing within one business day. No commitment required to inquire.